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REGISTERED NUMBER: 00299638 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

GYMPHLEX LIMITED

GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GYMPHLEX LIMITED

COMPANY INFORMATION
for the year ended 30 November 2024







DIRECTORS: J R S Greenlees
V E Greenlees





SECRETARY: J R S Greenlees





REGISTERED OFFICE: Woodside House
218 London Road
Leicester
LE2 1NE





REGISTERED NUMBER: 00299638 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 3,079

CURRENT ASSETS
Stocks - 44,122
Debtors 5 279,650 453,460
Cash at bank and in hand 882,018 519,076
1,161,668 1,016,658
CREDITORS
Amounts falling due within one year 6 (6,002 ) (32,330 )
NET CURRENT ASSETS 1,155,666 984,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,155,666

987,407

CREDITORS
Amounts falling due after more than one
year

7

(3,900

)

(3,900

)
NET ASSETS 1,151,766 983,507

CAPITAL AND RESERVES
Called up share capital 519,696 519,695
Retained earnings 632,070 463,812
1,151,766 983,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:





J R S Greenlees - Director


GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024


1. STATUTORY INFORMATION

Gymphlex Limited is a limited company, registered in England and Wales. Its registered office address is Woodside House, 218 London Road, Leicester, LE2 1NE and the registered number is 00299638.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Other operating income
Other operating income is recognised in the accounts on an accruals basis and in relation to the period in which it relates.

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer usually on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant & machinery - 10%straight line
Computer equipment- 25%straight line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2023 162,802 75,938 238,740
Disposals (162,802 ) (75,938 ) (238,740 )
At 30 November 2024 - - -
DEPRECIATION
At 1 December 2023 162,138 73,523 235,661
Eliminated on disposal (162,138 ) (73,523 ) (235,661 )
At 30 November 2024 - - -
NET BOOK VALUE
At 30 November 2024 - - -
At 30 November 2023 664 2,415 3,079

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,245 15,299
Amounts owed by group undertakings 80,512 229,267
Other debtors 173,793 175,682
Deferred tax asset 7,100 8,600
Prepayments and accrued income - 24,612
279,650 453,460

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 878 13,953
Tax 2,249 921
Social security and other taxes - 2,576
Accruals and deferred income 2,875 14,880
6,002 32,330

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Preference shares 3,900 3,900

The above represents preference share capital treated as debt.

The rights attaching to the preference shares are as follows:

i) A fixed cumulative preferential dividend each year at the rate of 4.2% per annum on capital paid up;

ii) On a return of capital or liquidation the surplus assets of the company after payment of its liabilities shall be applied first in repayment to the holders of the preference shares the amounts paid up together with any dividend arrears; and

iii) To attend General Meetings of the company and have one vote for every ten preference shares held.

GYMPHLEX LIMITED (REGISTERED NUMBER: 00299638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024


8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.