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Registered number: 02810447
Wiltshire Gymnastics Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Chippendale and Clark
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 02810447
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 745 1,005
745 1,005
CURRENT ASSETS
Stocks 5 5,335 4,320
Debtors 6 13,131 11,652
Cash at bank and in hand 44,526 40,219
62,992 56,191
Creditors: Amounts Falling Due Within One Year 7 (14,049 ) (14,938 )
NET CURRENT ASSETS (LIABILITIES) 48,943 41,253
TOTAL ASSETS LESS CURRENT LIABILITIES 49,688 42,258
NET ASSETS 49,688 42,258
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 49,686 42,256
SHAREHOLDERS' FUNDS 49,688 42,258
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Hunt
Director
11/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Wiltshire Gymnastics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02810447 . The registered office is Wiltshire School Of Gymnastics Lysander Road, Bowerhill, Melksham, Wiltshire, SN12 6SP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 9 9
9 9
Page 2
Page 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2023 67,381 22,842 90,223
As at 30 November 2024 67,381 22,842 90,223
Depreciation
As at 1 December 2023 66,724 22,494 89,218
Provided during the period 169 91 260
As at 30 November 2024 66,893 22,585 89,478
Net Book Value
As at 30 November 2024 488 257 745
As at 1 December 2023 657 348 1,005
5. Stocks
2024 2023
£ £
Stock 5,335 4,320
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 13,131 11,652
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,287 972
Other taxes and social security 1,030 260
VAT 4,354 6,428
Accruals and deferred income 1,750 1,650
Amounts owed to group undertakings 5,628 5,628
14,049 14,938
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 3