REGISTERED NUMBER: 05652864 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BUZZ GYM UK LIMITED

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

A K J Stowell

A M Stowell

P H S Stowell

SECRETARY:

A M Stowell

REGISTERED OFFICE:

56a Grove Road

Sonning Common

Reading

Berkshire

RG4 9RL

REGISTERED NUMBER:

05652864 (England and Wales)

ACCOUNTANTS:

Cooper Parry Advisory Limited

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of provision of leisure activities

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

A K J Stowell

A M Stowell

P H S Stowell

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P H S Stowell - Director

22 September 2025

TURNOVER

6,186,865

5,367,097

Cost of sales

58,036

36,936

GROSS PROFIT

6,128,829

5,330,161

Administrative expenses

5,200,989

4,405,093

927,840

925,068

Other operating income

12,631

415

OPERATING PROFIT

5

940,471

925,483

Interest receivable and similar income

10,994

10,084

951,465

935,567

Interest payable and similar expenses

210,566

255,550

PROFIT BEFORE TAXATION

740,899

680,017

Tax on profit

6

229,831

277,804

PROFIT FOR THE FINANCIAL YEAR

511,068

402,213

Profit attributable to:

Owners of the parent

511,068

402,213

FIXED ASSETS

Intangible assets

8

46,373

64,922

Tangible assets

9

2,983,154

2,829,683

Investments

10

Interest in associate

400,000

400,000

3,429,527

3,294,605

CURRENT ASSETS

Stocks

10,462

23,320

Debtors

11

649,406

251,781

Cash at bank

609,550

343,815

1,269,418

618,916

CREDITORS

Amounts falling due within one year

12

1,830,969

1,580,511

NET CURRENT LIABILITIES

(561,551

)

(961,595

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,867,976

2,333,010

CREDITORS

Amounts falling due after more than one year

13

(1,710,131

)

(1,539,621

)

PROVISIONS FOR LIABILITIES

(497,908

)

(391,572

)

NET ASSETS

659,937

401,817

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14

659,837

401,717

659,937

401,817

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

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

P H S Stowell - Director

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

2,713,471

2,555,564

Investments

10

600,080

600,080

3,313,551

3,155,644

CURRENT ASSETS

Stocks

9,558

21,460

Debtors

11

695,026

405,970

Cash at bank

601,226

342,122

1,305,810

769,552

CREDITORS

Amounts falling due within one year

12

1,765,617

1,531,343

NET CURRENT LIABILITIES

(459,807

)

(761,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,853,744

2,393,853

CREDITORS

Amounts falling due after more than one year

13

(1,669,028

)

(1,539,621

)

PROVISIONS FOR LIABILITIES

(483,111

)

(383,308

)

NET ASSETS

701,605

470,924

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14

701,505

470,824

701,605

470,924

Company's profit for the financial year

483,629

371,148

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

P H S Stowell - Director

1.	CONSOLIDATION - SUBSIDIARY

Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

On 2 November 2015 the Company acquired 80% of the ordinary £1 subscriber shares for Buzz Gym Swindon Ltd. A further 20% of the ordinary £1 subscriber shares for Buzz Gym Swindon Ltd were acquired on 20 February 2018 and therefore the Company owns 100% of shares in Buzz Gym Swindon Ltd at the balance sheet date.

Buzz Gym Swindon Ltd began trading on 1 December 2016 and the results have been consolidated from this date onwards. The registered office for Buzz Gym Swindon Ltd is 56a Grove Road, Sonning Common, Reading, RG4 9RL.

2.	STATUTORY INFORMATION

Buzz Gym UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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

3.	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.

Going Concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment and have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the revenue can be reliably measured. Revenue is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from gym memberships is recognised in the period in which the membership relates to.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvement to property

-

straight line over the life of the lease and Straight line over 7 years

Gym equipment

-

20% and 25% on cost

Fixtures and fittings

-

20% and 25% on cost

Motor vehicles

-

20% and 25% on cost

Computer equipment

-

20% and 25% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term bank deposits with an original maturity of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

306,102

359,318

Goodwill amortisation

18,549

18,550

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

123,495

4,361

Prior year adjustment

-

115

Total current tax

123,495

4,476

Deferred tax

106,336

273,328

Tax on profit

229,831

277,804

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

185,492

AMORTISATION

At 1 January 2024

120,570

Amortisation for year

18,549

At 31 December 2024

139,119

NET BOOK VALUE

At 31 December 2024

46,373

At 31 December 2023

64,922

9.	TANGIBLE FIXED ASSETS

Group

Improvement

Fixtures

to

Gym

and

property

equipment

fittings

£

£

£

COST

At 1 January 2024

1,954,080

2,562,869

1,688,547

Additions

138,175

435,925

102,819

Disposals

-

-

-

At 31 December 2024

2,092,255

2,998,794

1,791,366

DEPRECIATION

At 1 January 2024

436,737

1,817,347

1,138,818

Charge for year

141,021

267,326

108,438

Eliminated on disposal

-

-

-

At 31 December 2024

577,758

2,084,673

1,247,256

NET BOOK VALUE

At 31 December 2024

1,514,497

914,121

544,110

At 31 December 2023

1,517,343

745,522

549,729

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

25,000

87,729

6,318,225

Additions

-

4,659

681,578

Disposals

-

(562

)

(562

)

At 31 December 2024

25,000

91,826

6,999,241

DEPRECIATION

At 1 January 2024

19,606

76,034

3,488,542

Charge for year

5,394

5,600

527,779

Eliminated on disposal

-

(234

)

(234

)

At 31 December 2024

25,000

81,400

4,016,087

NET BOOK VALUE

At 31 December 2024

-

10,426

2,983,154

At 31 December 2023

5,394

11,695

2,829,683

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Gym

equipment

£

COST

At 1 January 2024

1,380,739

Additions

376,470

Reclassification/transfer

81,203

At 31 December 2024

1,838,412

DEPRECIATION

At 1 January 2024

802,178

Charge for year

221,677

Reclassification/transfer

5,414

At 31 December 2024

1,029,269

NET BOOK VALUE

At 31 December 2024

809,143

At 31 December 2023

578,561

Company

Improvement

Fixtures

to

Gym

and

property

equipment

fittings

£

£

£

COST

At 1 January 2024

1,901,663

2,275,637

1,214,588

Additions

138,175

406,676

87,531

Disposals

-

-

-

At 31 December 2024

2,039,838

2,682,313

1,302,119

DEPRECIATION

At 1 January 2024

418,143

1,568,246

866,837

Charge for year

137,361

250,879

79,739

Eliminated on disposal

-

-

-

At 31 December 2024

555,504

1,819,125

946,576

NET BOOK VALUE

At 31 December 2024

1,484,334

863,188

355,543

At 31 December 2023

1,483,520

707,391

347,751

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

25,000

65,549

5,482,437

Additions

-

4,658

637,040

Disposals

-

(562

)

(562

)

At 31 December 2024

25,000

69,645

6,118,915

DEPRECIATION

At 1 January 2024

19,606

54,041

2,926,873

Charge for year

5,394

5,432

478,805

Eliminated on disposal

-

(234

)

(234

)

At 31 December 2024

25,000

59,239

3,405,444

NET BOOK VALUE

At 31 December 2024

-

10,406

2,713,471

At 31 December 2023

5,394

11,508

2,555,564

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Gym

equipment

£

COST

At 1 January 2024

1,380,739

Additions

352,502

Reclassification/transfer

47,380

At 31 December 2024

1,780,621

DEPRECIATION

At 1 January 2024

802,178

Charge for year

210,518

Reclassification/transfer

3,159

At 31 December 2024

1,015,855

NET BOOK VALUE

At 31 December 2024

764,766

At 31 December 2023

578,561

10.	FIXED ASSET INVESTMENTS

Group

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

400,000

NET BOOK VALUE

At 31 December 2024

400,000

At 31 December 2023

400,000