Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Christopher French 02/04/2020 Kimberley French 02/04/2020 24 January 2025 The principal activity of the Company during the financial year was sport activities. 12545333 2024-04-30 12545333 bus:Director1 2024-04-30 12545333 bus:Director2 2024-04-30 12545333 2023-04-30 12545333 core:CurrentFinancialInstruments 2024-04-30 12545333 core:CurrentFinancialInstruments 2023-04-30 12545333 core:ShareCapital 2024-04-30 12545333 core:ShareCapital 2023-04-30 12545333 core:RetainedEarningsAccumulatedLosses 2024-04-30 12545333 core:RetainedEarningsAccumulatedLosses 2023-04-30 12545333 core:Goodwill 2023-04-30 12545333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-30 12545333 core:Goodwill 2024-04-30 12545333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-04-30 12545333 core:PlantMachinery 2023-04-30 12545333 core:OfficeEquipment 2023-04-30 12545333 core:PlantMachinery 2024-04-30 12545333 core:OfficeEquipment 2024-04-30 12545333 core:WithinOneYear 2024-04-30 12545333 core:WithinOneYear 2023-04-30 12545333 core:BetweenOneFiveYears 2024-04-30 12545333 core:BetweenOneFiveYears 2023-04-30 12545333 2023-05-01 2024-04-30 12545333 bus:FilletedAccounts 2023-05-01 2024-04-30 12545333 bus:SmallEntities 2023-05-01 2024-04-30 12545333 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12545333 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12545333 bus:Director1 2023-05-01 2024-04-30 12545333 bus:Director2 2023-05-01 2024-04-30 12545333 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 12545333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-05-01 2024-04-30 12545333 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 12545333 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 12545333 2022-05-01 2023-04-30 12545333 core:Goodwill 2023-05-01 2024-04-30 12545333 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-05-01 2024-04-30 12545333 core:PlantMachinery 2023-05-01 2024-04-30 12545333 core:OfficeEquipment 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 12545333 (England and Wales)

KIM FRENCH FITNESS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

KIM FRENCH FITNESS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

KIM FRENCH FITNESS LIMITED

BALANCE SHEET

As at 30 April 2024
KIM FRENCH FITNESS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 131,912 148,147
Tangible assets 4 12,555 16,639
144,467 164,786
Current assets
Stocks 5 20,841 26,588
Debtors 6 179,692 91,782
Cash at bank and in hand 587,341 531,402
787,874 649,772
Creditors: amounts falling due within one year 7 ( 154,540) ( 178,224)
Net current assets 633,334 471,548
Total assets less current liabilities 777,801 636,334
Net assets 777,801 636,334
Capital and reserves
Called-up share capital 2 2
Profit and loss account 777,799 636,332
Total shareholders' funds 777,801 636,334

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Kim French Fitness Limited (registered number: 12545333) were approved and authorised for issue by the Board of Directors on 24 January 2025. They were signed on its behalf by:

Christopher French
Director
KIM FRENCH FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
KIM FRENCH FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kim French Fitness Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 83 King Richard Drive, Bournemouth, BH11 9UE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 May 2023 190,000 149,075 339,075
Additions 0 34,696 34,696
At 30 April 2024 190,000 183,771 373,771
Accumulated amortisation
At 01 May 2023 92,720 98,208 190,928
Charge for the financial year 19,456 31,475 50,931
At 30 April 2024 112,176 129,683 241,859
Net book value
At 30 April 2024 77,824 54,088 131,912
At 30 April 2023 97,280 50,867 148,147

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 May 2023 29,110 8,735 37,845
Additions 3,927 2,481 6,408
At 30 April 2024 33,037 11,216 44,253
Accumulated depreciation
At 01 May 2023 18,413 2,793 21,206
Charge for the financial year 8,102 2,390 10,492
At 30 April 2024 26,515 5,183 31,698
Net book value
At 30 April 2024 6,522 6,033 12,555
At 30 April 2023 10,697 5,942 16,639

5. Stocks

2024 2023
£ £
Stocks 20,841 26,588

6. Debtors

2024 2023
£ £
Other debtors 179,692 91,782

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 36,429 16,715
Corporation tax 113,893 97,158
Other creditors 4,218 64,351
154,540 178,224

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 52,340 64,840

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 13,085 12,500
between one and five years 39,255 52,340
52,340 64,840

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Loans to key management 87,427 0

Interest has been charged on the above loan at 2.25%.