IRON FOUNDRY GYM & FITNESS LIMITED


Director	GOODWIN, Simon James


Registered Address	Unit 1 Sheffield Road
	Whittington Moor
	Chesterfield
	S41 8NQ


Registered Number	13341202 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Intangible assets	3		3,000		4,000
Tangible assets	4		13,931		17,414
			16,931		21,414
Current assets
Debtors		1,207		765
Cash at bank and on hand		4,736		4,792
		5,943		5,557
Creditors amounts falling due within one year	5	(57,793)		(58,908)
Net current assets (liabilities)			(51,850)		(53,351)
Total assets less current liabilities			(34,919)		(31,937)
Net assets			(34,919)		(31,937)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(35,019)		(32,037)
Shareholders' funds			(34,919)		(31,937)

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 21 September 2026, and are signed on its behalf by:

GOODWIN, Simon James
Director
Registered Company No. 13341202

IRON FOUNDRY GYM & FITNESS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	The company is supported in the short term by loans from the director. The company's position after the balance sheet date has improved as a result of profitability and paying down of liabilities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The goodwill has an estimated useful life of 10 years and is amortised on a straight line basis.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	20
	Office Equipment	20

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. 

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	6		2

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 25	10,000	10,000
At 31 March 26	10,000	10,000
Amortisation and impairment
At 01 April 25	6,000	6,000
Charge for year	1,000	1,000
At 31 March 26	7,000	7,000
Net book value
At 31 March 26	3,000	3,000
At 31 March 25	4,000	4,000

4.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 25	35,598	940	36,538
At 31 March 26	35,598	940	36,538
Depreciation and impairment
At 01 April 25	18,569	555	19,124
Charge for year	3,406	77	3,483
At 31 March 26	21,975	632	22,607
Net book value
At 31 March 26	13,623	308	13,931
At 31 March 25	17,029	385	17,414

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	2,638	343
Bank borrowings and overdrafts	1	-
Taxation and social security	279	-
Other creditors	53,856	57,715
Accrued liabilities and deferred income	1,019	850
Total	57,793	58,908