REGISTERED NUMBER: 08807515 (England and Wales)

Financial Statements

for the Year Ended 30 March 2024

for

Montgomery Gyms Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T E Gibbs

REGISTERED OFFICE:

Unit 6 2-20 Scrutton Street

London

United Kingdom

EC2A 4RJ

REGISTERED NUMBER:

08807515 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Suite 4, 10/12 The Grove,

Ilkley

West Yorkshire

LS29 9EG

Fixed assets

Intangible assets

4

852,264

912,694

Tangible assets

5

202,537

255,606

1,054,801

1,168,300

Current assets

Stocks

6

816

720

Debtors

7

264,017

73,260

Cash at bank

24,637

22,302

289,470

96,282

Creditors

Amounts falling due within one year

8

(210,444

)

(155,583

)

Net current assets/(liabilities)

79,026

(59,301

)

Total assets less current liabilities

1,133,827

1,108,999

Creditors

Amounts falling due after more than one year

9

(608,040

)

(678,067

)

Provisions for liabilities

10

(26,802

)

(26,202

)

Net assets

498,985

404,730

Capital and reserves

Called up share capital

11

100

100

Retained earnings

12

498,885

404,630

Shareholders' funds

498,985

404,730

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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 30 December 2025 and were signed by:

T E Gibbs - Director

1.	STATUTORY INFORMATION

Montgomery Gyms 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.

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.

GOODWILL

Goodwill was acquired in connection with the acquisition of the business in 2018 in the sum of £1,208,592. The estimated useful life is 20 years and amortisation is charged on a straight line basis over this period.

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.

Gym equipment

-

Straight line over 8 years

Fixtures and fittings

-

Straight line over 10 years

STOCKS

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

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.

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 11 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 March 2023

and 30 March 2024

1,208,592

AMORTISATION

At 31 March 2023

295,898

Amortisation for year

60,430

At 30 March 2024

356,328

NET BOOK VALUE

At 30 March 2024

852,264

At 30 March 2023

912,694

5.	TANGIBLE FIXED ASSETS

Fixtures

Gym

and

equipment

fittings

Totals

£

£

£

COST

At 31 March 2023

319,588

228,730

548,318

Additions

2,636

7,577

10,213

At 30 March 2024

322,224

236,307

558,531

DEPRECIATION

At 31 March 2023

179,132

113,580

292,712

Charge for year

40,231

23,051

63,282

At 30 March 2024

219,363

136,631

355,994

NET BOOK VALUE

At 30 March 2024

102,861

99,676

202,537

At 30 March 2023

140,456

115,150

255,606

6.

STOCKS

2024

2023

£

£

Stocks

816

720

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,536

1,785

Other debtors

53,875

53,875

VAT

181,767

-

Prepayments

25,839

17,600

264,017

73,260

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

90,346

96,162

Trade creditors

28,397

13,032

Corporation tax

79,133

16,112

Social security and other tax

2,881

4,086

VAT

-

16,702

Credit cards

7,599

2,096

Pensions

588

759

Accrued expenses

1,500

6,634

210,444

155,583

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

203,748

278,067

Other creditors

404,292

400,000

608,040

678,067

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

26,802

26,202

Deferred

tax

£

Balance at 31 March 2023

26,202

Provided during year

600

Balance at 30 March 2024

26,802

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

A Shares

1

100

100

12.

RESERVES

Retained

earnings

£

At 31 March 2023

404,630

Profit for the year

94,255

At 30 March 2024

498,885

13.	RELATED PARTY DISCLOSURES

As at 30th March 2024 there is an intercompany loan due to a related party totalling £404,292.