REGISTERED NUMBER: 12933363 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2024

for

BXR City Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

O Sardarova

A C Nicholl

REGISTERED OFFICE:

24 Paddington Street

London

W1U 5QY

REGISTERED NUMBER:

12933363 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BXR City Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of BXR City Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BXR City Limited and state those matters that we have agreed to state to the Board of Directors of BXR City Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BXR City Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that BXR City Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BXR City Limited. You consider that BXR City Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of BXR City Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

26 September 2025

FIXED ASSETS

Intangible assets

4

25,786

28,156

Tangible assets

5

266,349

333,576

292,135

361,732

CURRENT ASSETS

Stocks

6,860

11,655

Debtors

6

692,087

642,571

Cash at bank

97,136

37,333

796,083

691,559

CREDITORS

Amounts falling due within one year

7

708,546

640,654

NET CURRENT ASSETS

87,537

50,905

TOTAL ASSETS LESS CURRENT LIABILITIES

379,672

412,637

CREDITORS

Amounts falling due after more than one year

8

17,314

31,192

NET ASSETS

362,358

381,445

CAPITAL AND RESERVES

Called up share capital

10

512,283

512,283

Retained earnings

11

(149,925

)

(130,838

)

SHAREHOLDERS' FUNDS

362,358

381,445

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

O Sardarova - Director

1.	STATUTORY INFORMATION

BXR City Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is 24 Paddington Street, London, W1U 5QY.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

In assessing the appropriateness of the going concern assumption, the Directors have reviewed detailed profit and loss forecasts and cash flow forecasts, considering all reasonably foreseeable potential scenarios and uncertainties in relation to revenue and expenditure for a period of at least 12 months from the date these financial statements have been signed. The owner whom the company is in partnership with to manage and provide first class fitness facilities has confirmed it will provide financial support to the business to the extent required to allow the company to meet its liabilities for a period of at least 12 months from the date these financial statements were signed.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Turnover

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

Turnover includes income from annual memberships, revenue is recognised on a monthly basis in line with the subscription contract in place.

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.

Software and website is being amortised evenly over its estimated useful life of ten years.

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

-

10% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the income statement, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

The company only has financial instruments that are classified as basic financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost less impairment.

Classification of financial liabilities:

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including creditors, are initially recognised at transaction price and subsequently measured at amortised cost.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Equity instruments:

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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

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 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.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

Other income

Other income is recognised at the fair value of the asset received or receivable when there is reasonable assurance that the conditions will be met and the income will be received.

Capital Contributions are recognised within the period to which they relate and are offset against the cost of the associated tangible fixed assets.

Working Capital contributions are recognised within the period to which they relate and are included within Other Income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Software

and

website

£

COST

At 1 January 2024

35,937

Additions

1,360

At 31 December 2024

37,297

AMORTISATION

At 1 January 2024

7,781

Amortisation for year

3,730

At 31 December 2024

11,511

NET BOOK VALUE

At 31 December 2024

25,786

At 31 December 2023

28,156

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

393,231

9,745

825

403,801

Additions

-

13,699

-

13,699

Disposals

(54,150

)

-

-

(54,150

)

At 31 December 2024

339,081

23,444

825

363,350

DEPRECIATION

At 1 January 2024

68,425

975

825

70,225

Charge for year

33,908

2,344

-

36,252

Eliminated on disposal

(9,476

)

-

-

(9,476

)

At 31 December 2024

92,857

3,319

825

97,001

NET BOOK VALUE

At 31 December 2024

246,224

20,125

-

266,349

At 31 December 2023

324,806

8,770

-

333,576

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

54,378

6,274

Accrued income

540,898

593,217

Prepayments

96,811

43,080

692,087

642,571

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

13,879

13,085

Trade creditors

73,575

118,663

Amounts owed to group undertakings

39,498

12,785

Social security and other taxes

6,576

7,614

VAT

29,467

9,623

Other creditors

1,751

689

Accrued expenses

500,817

435,028

Deferred income

42,983

43,167

708,546

640,654

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

17,314

31,192

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

31,193

44,277

The amounts above are secured against the assets in which the liability relates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

512,283

Ordinary

£1

512,283

512,283

11.

RESERVES

Retained

earnings

£

At 1 January 2024

(130,838

)

Deficit for the year

(19,087

)

At 31 December 2024

(149,925

)

12.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments relating to operating leases at the balance sheet date as follows:

2024

2023

£

£

Due within 1 year

72,899

75,708

2-5 years

96,195

162,746

ore than 5 years

1,058

7,406

170,152

245,860

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs O Sardarova due to having significant control in BXR Holdings Limited, the parent company.