REGISTERED NUMBER: 14406951 (England and Wales)

MALONEYS GYM LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S P Maloney

REGISTERED OFFICE:

Unit 20c Marsh Mills

Luck Lane

Marsh

Huddersfield

West Yorkshire

HD3 4AB

REGISTERED NUMBER:

14406951 (England and Wales)

ACCOUNTANTS:

SMH Sheards

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Intangible assets

4

6,400

7,200

Tangible assets

5

26,587

29,182

32,987

36,382

CURRENT ASSETS

Stocks

6

2,000

1,000

Debtors

7

848

779

Cash at bank and in hand

229

401

3,077

2,180

CREDITORS

Amounts falling due within one year

8

(41,786

)

(36,505

)

NET CURRENT LIABILITIES

(38,709

)

(34,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,722

)

2,057

PROVISIONS FOR LIABILITIES

10

(1,313

)

(1,146

)

NET (LIABILITIES)/ASSETS

(7,035

)

911

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(7,135

)

811

SHAREHOLDERS' FUNDS

(7,035

)

911

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 director acknowledges his 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 director and authorised for issue on 29 September 2025 and were signed by:

S P Maloney - Director

1.	STATUTORY INFORMATION

Maloneys Gym Ltd 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 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.

The directors believe it is appropriate to prepare the financial statements on the going concern basis. In reaching this conclusion, they have considered the company’s forecasts and cash flow projections, and they are satisfied it will be able to meet its liabilities as they fall due, particularly due to continued financial support from the director.

Turnover

Turnover is recognised on the supply of services to the customer excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, 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.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

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 instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

8,000

AMORTISATION

At 1 January 2024

800

Charge for year

800

At 31 December 2024

1,600

NET BOOK VALUE

At 31 December 2024

6,400

At 31 December 2023

7,200

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

34,332

Additions

2,096

At 31 December 2024

36,428

DEPRECIATION

At 1 January 2024

5,150

Charge for year

4,691

At 31 December 2024

9,841

NET BOOK VALUE

At 31 December 2024

26,587

At 31 December 2023

29,182

6.

STOCKS

2024

2023

£

£

Stocks

2,000

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

848

779

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

(1

)

(1

)

Taxation and social security

3,716

7,099

Other creditors

38,071

29,407

41,786

36,505

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Between one and five years

44,000

56,000

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

1,313

1,146

Deferred

tax

£

Balance at 1 January 2024

1,146

Provided during year

167

Balance at 31 December 2024

1,313

11.	RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £37,253 (2023 £27,972) were outstanding at the year end, the amounts are repayable on demand.