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REGISTERED NUMBER: 04264117 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

KEISER UK LIMITED

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEISER UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D Keiser
R Keiser
R A Gand


SECRETARY: P Pangburn


REGISTERED OFFICE: Unit 3
Hampton Industrial Estate
Hampton Road
Tetbury
Gloucestershire
GL8 8LD


REGISTERED NUMBER: 04264117 (England and Wales)


SENIOR STATUTORY AUDITOR: Jon Payne ACA


AUDITORS: Xeinadin Audit Limited
(Statutory Auditor)
Court House
Court Road
Bridgend
CF31 1BE


BANKERS: HSBC
8 Canada Square
London
E14 5HQ

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,753 14,683

CURRENT ASSETS
Stocks 1,199,948 825,497
Debtors 5 641,804 351,689
Cash at bank and in hand 324,485 689,057
2,166,237 1,866,243
CREDITORS
Amounts falling due within one year 6 634,167 304,665
NET CURRENT ASSETS 1,532,070 1,561,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,545,823

1,576,261

CAPITAL AND RESERVES
Called up share capital 8 2 2
Share premium 1,998 1,998
Retained earnings 1,543,823 1,574,261
SHAREHOLDERS' FUNDS 1,545,823 1,576,261

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





D Keiser - Director


KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial statements are prepared on a going concern basis.

The directors have reviewed the position for the next 12 months.

The company relies on its parent company, Keiser Corporation in The United States of America for the majority of its stock which is then resold.

The directors have considered the effect of the present uncertainty surrounding the economy. While the company relies primarily on sales of goods to the leisure market, the uncertainty has not adversely effected business to date.

The company has generated sufficient reserves over previous periods to be able to continue trading for 12 months should circumstances restrict sales for whatever reason. Accordingly the directors consider that the company will be able to meet its liabilities as they fall due in the next 12 months and the going concern basis of preparation is appropriate.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, based on delivery date. Where work is undertaken on contracts over a period of time, income is recognised in proportion to the work done in each period.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price plus any costs directly attributable to making the asset capable of operating as and where intended.

Depreciation is provided at the following annual rates in order to write off the cost, less estimated residual value, of each asset on a systematic basis over its estimated useful life, or if held under a finance lease, over the lease term, whichever is shorter:

Leasehold buildings - over the life of the lease
Plant and machinery etc - 33% on cost.

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items. Cost includes all direct expenditure.

Stocks are recognised as an expense in the period in which the related revenue is recognised.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock item is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement.

Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a group personal pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Warranty
Repairs for goods sold under warranties are charged to the profit and loss account as incurred. Warranty for goods is provided by Keiser US Inc., the original manufacturer.

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Critical accounting judgement and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or the period of the revision and future periods if the revision affects both current and future periods.

(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimate.

(ii) Stock provisioning.
The company holds stock at various locations in order to fulfill future orders. The directors consider the recoverability of the cost of inventory and the associated provisioning required on a regular basis. When calculating the inventory provision, management consider the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods.

(iii) Bad Debt Provision
The company has trade debtors at each year end. The directors consider the recoverability of the debtors and the associated provisioning. When calculating the bad debt provision management consider the age of the debt, the trading history of the client and the post year end receipts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 5,324 97,195 102,519
Additions - 12,136 12,136
Disposals - (7,956 ) (7,956 )
At 30 June 2024 5,324 101,375 106,699
DEPRECIATION
At 1 July 2023 5,275 82,561 87,836
Charge for year 49 13,016 13,065
Eliminated on disposal - (7,955 ) (7,955 )
At 30 June 2024 5,324 87,622 92,946
NET BOOK VALUE
At 30 June 2024 - 13,753 13,753
At 30 June 2023 49 14,634 14,683

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 481,098 165,710
Other debtors 160,706 185,979
641,804 351,689

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 67,149 121,322
Amounts owed to group undertakings 372,132 10,243
Taxation and social security 15,502 16,320
Other creditors 179,384 156,780
634,167 304,665

KEISER UK LIMITED (REGISTERED NUMBER: 04264117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 64,684 18,541
Between one and five years 64,500 -
129,184 18,541

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 2 2

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jon Payne ACA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE HOLDING COMPANY

Keiser Corporation is the ultimate parent company of Keiser UK Limited.

The address of Keiser Inc is 2470 S.Cherry Avenue, Fresno, California, 93706, United States of America.