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Registration number: 02764975

Gymnova (UK) Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2025

 

Gymnova (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Gymnova (UK) Limited

Company Information

Directors

O J B Esteves

R P N Karakotchian

P S Prince

Abeo SA

Registered office

Unit 5 Venture Court, Metcalf Drive, Altham
Accrington
Lancashire
BB5 5WH

Auditors

Ballards LLP
Statutory Auditors, Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Gymnova (UK) Limited

(Registration number: 02764975)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

4,109

7,631

Tangible assets

5

65,061

109,519

 

69,170

117,150

Current assets

 

Stocks

543,878

449,742

Debtors

6

1,865,641

1,522,717

Cash at bank and in hand

 

133,897

126,874

 

2,543,416

2,099,333

Creditors: Amounts falling due within one year

7

(1,141,212)

(1,029,832)

Net current assets

 

1,402,204

1,069,501

Total assets less current liabilities

 

1,471,374

1,186,651

Provisions for liabilities

(1,164)

(8,243)

Net assets

 

1,470,210

1,178,408

Capital and reserves

 

Called up share capital

12,000

12,000

Retained earnings

1,458,210

1,166,408

Shareholders' funds

 

1,470,210

1,178,408

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2025 and signed on its behalf by:
 

.........................................
P S Prince
Director

   
     
 

Gymnova (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5 Venture Court, Metcalf Drive, Altham
Accrington
Lancashire
BB5 5WH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 June 2025 was Andy Bewick FCCA, who signed for and on behalf of Ballards LLP.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gymnova (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on cost

Fixtures, fittings and equipment

33.3% on cost and 20% on cost

Computer equipment

50% on cost

Motor vehicles

33.3% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gymnova (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2024 - 17).

 

Gymnova (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions

10,566

10,566

At 31 March 2025

10,566

10,566

Amortisation

At 1 April 2024

2,935

2,935

Amortisation charge

3,522

3,522

At 31 March 2025

6,457

6,457

Carrying amount

At 31 March 2025

4,109

4,109

At 31 March 2024

7,631

7,631

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

75,144

203,342

278,486

Additions

4,068

-

4,068

Disposals

(4,692)

(37,958)

(42,650)

At 31 March 2025

74,520

165,384

239,904

Depreciation

At 1 April 2024

65,739

103,228

168,967

Charge for the year

4,182

31,344

35,526

Eliminated on disposal

(4,692)

(24,958)

(29,650)

At 31 March 2025

65,229

109,614

174,843

Carrying amount

At 31 March 2025

9,291

55,770

65,061

At 31 March 2024

9,405

100,114

109,519

 

Gymnova (UK) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Debtors

Note

2025
£

2024
£

Trade debtors

 

754,886

273,282

Amounts owed by group undertakings

9

1,024,614

1,159,069

Prepayments

 

66,105

61,496

Other debtors

 

20,036

28,870

   

1,865,641

1,522,717

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

218,867

160,120

Amounts owed to group undertakings

9

387,383

372,985

Taxation and social security

 

140,086

138,103

Other creditors

 

394,876

358,624

 

1,141,212

1,029,832

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £423,958 (2024 - £470,303). This relates to property, motor vehicle and office equipment leases.

9

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Gymnova SA, incorporated in France.

 The ultimate parent is ABEO S.A, incorporated in France.

 The most senior parent entity producing publicly available financial statements is ABEO S.A. These financial statements are available upon request from Greffe du Tribunal de Commerce de Vesoul-Gray, 20, rue Didon - 70000 VESOUL - FRANCE