REGISTERED NUMBER: 09929820 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

OLYMPUS GYMNASTICS CLUB LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J Edwards

J A Edwards

M Abbiati

REGISTERED OFFICE:

25 Grosvenor Road

Wrexham

LL11 1BT

REGISTERED NUMBER:

09929820 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

Santander UK plc

Bridle Road

Bootle

L30 4GB

FIXED ASSETS

Tangible assets

4

17,214

16,593

CURRENT ASSETS

Debtors

5

4,877

4,934

Cash at bank

47,205

65,495

52,082

70,429

CREDITORS

Amounts falling due within one year

6

9,322

15,500

NET CURRENT ASSETS

42,760

54,929

TOTAL ASSETS LESS CURRENT LIABILITIES

59,974

71,522

PROVISIONS FOR LIABILITIES

7

638

2,832

NET ASSETS

59,336

68,690

RESERVES

Income and expenditure account

59,336

68,690

59,336

68,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2025 and were signed on its behalf by:

P J Edwards - Director

1.	STATUTORY INFORMATION

Olympus Gymnastics Club Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Gym equipment

-

25% on cost

Computer equipment

-

15% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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 10 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Gym

Computer

machinery

equipment

equipment

Totals

£

£

£

£

COST

At 1st January 2024

4,875

109,466

5,129

119,470

Additions

659

6,276

858

7,793

At 31st December 2024

5,534

115,742

5,987

127,263

DEPRECIATION

At 1st January 2024

2,166

97,334

3,377

102,877

Charge for year

716

5,994

462

7,172

At 31st December 2024

2,882

103,328

3,839

110,049

NET BOOK VALUE

At 31st December 2024

2,652

12,414

2,148

17,214

At 31st December 2023

2,709

12,132

1,752

16,593

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

113

-

Other debtors

3,851

4,357

Prepayments

913

577

4,877

4,934

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

553

(326

)

Tax

-

36

Social security and other taxes

3,591

2,139

Other creditors

-

1,280

Directors' current accounts

2,298

1,674

Accrued expenses

2,880

10,697

9,322

15,500

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

3,008

2,832

Tax losses carried forward

(2,370

)

-

638

2,832

Deferred

tax

£

Balance at 1st January 2024

2,832

Movement in year due to:

changes in tax rates

176

changes in tax allowances

movement in losses available

(2,370

)

Balance at 31st December 2024

638

8.	CAPITAL COMMITMENTS

31.12.24

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-

9.	LIMITED BY GUARANTEE

The company is limited by guarantee, and at the year end had 3 members (2023: 4). Each member has undertaken to pay £1 to the company in the event that it is wound up. The value of the guarantee at the year end is, therefore, £3 (2023: £4).