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Company Registration No. 14579073 (England and Wales)
Foundry Gym Kidderminster Limited Unaudited accounts for the period from 1 February 2024 to 31 March 2025
Foundry Gym Kidderminster Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Foundry Gym Kidderminster Limited Company Information for the period from 1 February 2024 to 31 March 2025
Directors
J Singh H Sangha
Company Number
14579073 (England and Wales)
Registered Office
Unit 1 Britannia Business Park Stourport Road Kidderminster DY11 7PZ United Kingdom
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Foundry Gym Kidderminster Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
373,019
70,570
Current assets
Inventories
15,000
-
Debtors
5
47,654
15,223
Cash at bank and in hand
73,142
-
135,796
15,223
Creditors: amounts falling due within one year
6
(420,223)
(102,072)
Net current liabilities
(284,427)
(86,849)
Total assets less current liabilities
88,592
(16,279)
Creditors: amounts falling due after more than one year
7
(64,068)
-
Net assets/(liabilities)
24,524
(16,279)
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
24,424
(16,379)
Shareholders' funds
24,524
(16,279)
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by
J Singh Director Company Registration No. 14579073
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Foundry Gym Kidderminster Limited Notes to the Accounts for the period from 1 February 2024 to 31 March 2025
1
Statutory information
Foundry Gym Kidderminster Limited is a private company, limited by shares, registered in England and Wales, registration number 14579073. The registered office is Unit 1, Britannia Business Park, Stourport Road, Kidderminster, DY11 7PZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods and provision of services is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance or 20% straight line
Fixtures & fittings
15% straight line
Going concern
The directors have made an assessment of the company's ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements were approved. Based on this assessment and the directors continued financial support, the directors consider it is appropriate to prepare the finacial statements on a going concern basis.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Foundry Gym Kidderminster Limited Notes to the Accounts for the period from 1 February 2024 to 31 March 2025
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 February 2024
34,244
38,589
72,833
Additions
283,623
118,908
402,531
At 31 March 2025
317,867
157,497
475,364
Depreciation
At 1 February 2024
1,472
791
2,263
Charge for the period
74,055
26,027
100,082
At 31 March 2025
75,527
26,818
102,345
Net book value
At 31 March 2025
242,340
130,679
373,019
At 31 January 2024
32,772
37,798
70,570
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
154,760
-
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
24,709
12,598
Deferred tax asset
2,625
2,625
Accrued income and prepayments
9,805
-
Other debtors
10,515
-
47,654
15,223
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
68,763
-
Trade creditors
96,942
-
Other creditors
13,480
15,139
Loans from directors
202,038
85,433
Accruals
39,000
1,500
420,223
102,072
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Foundry Gym Kidderminster Limited Notes to the Accounts for the period from 1 February 2024 to 31 March 2025
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
64,068
-
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
90 Ordinary shares of £1 each
90
90
10 A Ordinary shares of £1 each
10
10
100
100
9
Transactions with related parties
Throughout the year the company has maintained a balance with a company under common ownsership of the directors. Included within other creditors is an amount of £13,480 (2024 £21,934) owed to the company under common ownsership of the directors.
10
Average number of employees
During the period the average number of employees was 3 (2024: 2).
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