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Registered number: 06005221
GYMOPHOBICS (COLCHESTER) LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
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GYMOPHOBICS (COLCHESTER) LIMITED
REGISTERED NUMBER: 06005221
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ABBREVIATED BALANCE SHEET
AS AT 30 APRIL 2014
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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SHAREHOLDERS' (DEFICIT)/FUNDS
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Page 1
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GYMOPHOBICS (COLCHESTER) LIMITED
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ABBREVIATED BALANCE SHEET (continued)
AS AT 30 APRIL 2014
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 April 2014 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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J Derbyshire
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R Derbyshire
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Page 2
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GYMOPHOBICS (COLCHESTER) LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Despite net current liabilities of £21,130 at the year end date, the directors are confident that the company is a going concern. Included in current liabilities is an amount of £21,199 owing to the directors which will not be repaid until the company is in a position to do so.
 
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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S/Term Leasehold Property
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Leasing and hire purchase
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Page 3
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GYMOPHOBICS (COLCHESTER) LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
2.TANGIBLE FIXED ASSETS
3.DEBTORS
Debtors include £15,000 (2013 - £NIL) falling due after more than one year.
4.SHARE CAPITAL
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Allotted, called up and fully paid
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80 Ordinary shares of £1 each
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20 Ordinary 'A' shares of £1 each
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Page 4
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