Company registration number 09095319 (England and Wales)
G&L FITNESS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
G&L FITNESS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
G&L FITNESS LTD
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,970
5,373
Current assets
Stocks
500
500
Debtors
4
12,919
14,932
Cash at bank and in hand
2,599
53,066
16,018
68,498
Creditors: amounts falling due within one year
5
(123,255)
(137,570)
Net current liabilities
(107,237)
(69,072)
Total assets less current liabilities
(99,267)
(63,699)
Creditors: amounts falling due after more than one year
6
(168,008)
(190,092)
Net liabilities
(267,275)
(253,791)
Capital and reserves
Called up share capital
7
278
278
Share premium account
369,914
369,914
Profit and loss reserves
(637,467)
(623,983)
Total equity
(267,275)
(253,791)
G&L FITNESS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 March 2026 and are signed on its behalf by:
Dr G Gibson
K P Lamb
Director
Director
Company registration number 09095319 (England and Wales)
G&L FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

G&L Fitness Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, 3 Chapell Lane, Wynyard Park Business Village, Wynyard, Billingham, TS22 5FG.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The nature of the company's business is such that it primarily relies on income from gym members subscriptions. The operation of the company to date has been funded by cash inflows generated in respect of that income as well as from equity investment to date.true

Financial forecasts are regularly prepared by management covering a range of short and long term outcomes. Having assessed the expected cash requirements of the company for the foreseeable future, the directors are confident that the company can meet it's day to day cashflow requirements. Further, the directors have personally committed to assisting with those day to day cash flow requirements to the extent reasonably possible. Thus the risk of going concern uncertainty is considered to be mitigated and the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Turnover represents net invoices sales of goods, excluding value added tax. Income in respect of gym membership, personal training and related services is recognised in the profit and loss account when it is earned. Café income is recognised at point of sale.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Plant and equipment
25% on cost
Fixtures and fittings
20% on cost
Computers
33% on cost
G&L FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

G&L FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

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

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

G&L FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
4
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 July 2024
137,521
125,846
25,588
1,695
290,650
Additions
-
0
8,320
-
0
-
0
8,320
Disposals
-
0
(14,280)
-
0
-
0
(14,280)
At 30 June 2025
137,521
119,886
25,588
1,695
284,690
Depreciation and impairment
At 1 July 2024
136,750
124,006
23,069
1,452
285,277
Depreciation charged in the year
736
3,675
1,069
243
5,723
Eliminated in respect of disposals
-
0
(14,280)
-
0
-
0
(14,280)
At 30 June 2025
137,486
113,401
24,138
1,695
276,720
Carrying amount
At 30 June 2025
35
6,485
1,450
-
0
7,970
At 30 June 2024
771
1,840
2,519
243
5,373
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,685
2,960
Other debtors
11,234
11,972
12,919
14,932
G&L FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
27,467
19,334
Trade creditors
8,292
11,238
Taxation and social security
6,516
5,439
Other creditors
80,980
101,559
123,255
137,570
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
0
15,000
Other creditors
168,008
175,092
168,008
190,092
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
228
228
228
228
Ordinary B Shares of £1 each
50
50
50
50
278
278
278
278
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
486,500
12,500
9
Related party transactions

During the year the directors maintained interest free loans to the company. As at the year-end the balance on these loans totalled £44,050 (202 4: £54,832). The loans are secured by way of fixed and floating charges over the assets of the company.

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