Lightning School of Gymnastics Limited

Registered number

10686374

Filleted Accounts

31 March 2025

Lightning School of Gymnastics Limited
Registered number:		10686374
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		100,068			81,677

Current assets
Debtors	4	22,209			22,210
Cash at bank and in hand		24,141			77,938
		46,350			100,148

Creditors: amounts falling due within one year	5	(61,073)			(45,000)

Net current (liabilities)/assets			(14,723)			55,148

Total assets less current liabilities			85,345			136,825

Creditors: amounts falling due after more than one year	6		(63,310)			(91,890)



Net assets			22,035			44,935

Capital and reserves
Called up share capital			1			1
Profit and loss account			22,034			44,934

Shareholder's funds			22,035			44,935

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mrs A L Borrell
Director
Approved by the board on 29 December 2025

Lightning School of Gymnastics Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. The company operated under the flat scheme for VAT from 1 March 2019 until 31 August 2022. The company has operated under the standard VAT method from 1 September 2021 onwards. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Home office			over 10 years
	Leasehold land and buildings			over the lease term
	Leasehold improvements			over shorter of lease term or useful economic life
	Plant, machinery and equipment			over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					5		6


3	Tangible fixed assets
		Home office		Plant and machinery		Leasehold improvements		Total
£			£		£		£
	Cost
	At 1 April 2024	49,207		108,957		-		158,164
	Additions	30,805		3,553		16,150		50,508
	At 31 March 2025	80,012		112,510		16,150		208,672

	Depreciation
	At 1 April 2024	4,921		71,565		-		76,486
	Charge for the year	8,001		22,502		1,615		32,118
	At 31 March 2025	12,922		94,067		1,615		108,604

	Net book value
	At 31 March 2025	67,090		18,443		14,535		100,068
	At 31 March 2024	44,286		37,392		-		81,678


4	Debtors					2025		2024
£							£

	Rent deposit					21,250		21,250
	Other debtors					959		960
						22,209		22,210


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Accruals					2,382		2,525
	Taxation and social security costs					20,488		12,618
	Wages payable					6,933		-
	Director's loan account					186		1,277
	Bounceback loan					7,200		7,200
	Third party loan					21,380		21,380
	Credit card					2,155		-
	Other creditors					349		-
						61,073		45,000


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loan and third party financing					63,310		91,890


7	Other information

	Lightning School of Gymnastics Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Fishponds
	Stable Cottage
	Sevenoaks
	Kent
	TN15 0HB