Registration number: 11811138

Grand Gyms Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Grand Gyms Ltd

Company Information

Directors

Mr Edwin Chijioke C Igweh Mr Vahram Papazyan

Registered office

21 Templars Square Cowley Oxford Oxfordshire OX4 3XQ

Accountants

Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

Grand Gyms Ltd

(Registration number: 11811138)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	12,367	9,926
Current assets
Debtors	6	262,814	209,069
Cash at bank and in hand		28,706	5,338
		291,520	214,407
Creditors: Amounts falling due within one year	7	(238,872)	(298,844)
Net current assets/(liabilities)		52,648	(84,437)
Total assets less current liabilities		65,015	(74,511)
Creditors: Amounts falling due after more than one year	7	-	(4,690)
Net assets/(liabilities)		65,015	(79,201)
Capital and reserves
Called up share capital	8	100	100
Retained earnings		64,915	(79,301)
Shareholders' funds/(deficit)		65,015	(79,201)

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2026 and signed on its behalf by:
 

Grand Gyms Ltd

(Registration number: 11811138)
Balance Sheet as at 28 February 2026

......................................... Mr Edwin Chijioke C Igweh Director

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Templars Square
Cowley
Oxford
Oxfordshire
OX4 3XQ
England

These financial statements were authorised for issue by the Board on 12 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Fixtures and fittings	20% straight line
Office equipment	25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Other Intangibles	15% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2025 - 12).

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 March 2025	9,842	9,842
At 28 February 2026	9,842	9,842
Amortisation
At 1 March 2025	9,842	9,842
At 28 February 2026	9,842	9,842
Carrying amount
At 28 February 2026	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 March 2025	417,745	157,398	575,143
Additions	-	10,484	10,484
At 28 February 2026	417,745	167,882	585,627
Depreciation
At 1 March 2025	409,910	155,307	565,217
Charge for the year	7,290	753	8,043
At 28 February 2026	417,200	156,060	573,260
Carrying amount
At 28 February 2026	545	11,822	12,367
At 28 February 2025	7,835	2,091	9,926

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

6

Debtors

Current	2026 £	2025 £
Trade debtors	3,160	6,720
Prepayments	41,907	24,747
Other debtors	217,747	177,602
	262,814	209,069

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	3,545	9,295
Trade creditors		126,346	156,714
Taxation and social security		19,800	24,689
Accruals and deferred income		78,910	12,645
Other creditors		10,271	95,501
		238,872	298,844

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	-	4,690

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Grand Gyms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	4,690

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	3,545	9,295