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REGISTERED NUMBER: 10621231 (England and Wales)


Unaudited Financial Statements for the Year Ended 30 September 2024

for

KMP Fitness Limited

KMP Fitness Limited (Registered number: 10621231)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KMP Fitness Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr N N Patel
Mr V M Patel
Mr K M Patel





REGISTERED OFFICE: Third Floor
126-134 Baker Street
London
W1U 6UE





REGISTERED NUMBER: 10621231 (England and Wales)





ACCOUNTANTS: Andrew Murray & Co
Business Advisors and Statutory Auditors
144-146 Kings Cross Road
King's Cross
WC1X 9DU

KMP Fitness Limited (Registered number: 10621231)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,321,141 1,793,549
Investments 6 500 500
2,321,641 1,794,049

CURRENT ASSETS
Debtors 7 248,386 177,112
Cash at bank and in hand 52,641 250,617
301,027 427,729
CREDITORS
Amounts falling due within one year 8 508,591 712,832
NET CURRENT LIABILITIES (207,564 ) (285,103 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,114,077

1,508,946

CREDITORS
Amounts falling due after more than one
year

9

(2,416,655

)

(1,865,943

)

PROVISIONS FOR LIABILITIES 13 (452,509 ) (321,558 )
NET LIABILITIES (755,087 ) (678,555 )

CAPITAL AND RESERVES
Called up share capital 14 99 99
Retained earnings 15 (755,186 ) (678,654 )
SHAREHOLDER FUNDS (755,087 ) (678,555 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KMP Fitness Limited (Registered number: 10621231)

Statement of Financial Position - continued
30 September 2024


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 Statement of Income and Retained Earnings has not been delivered.

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





Mr K M Patel - Director


KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

KMP Fitness 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 have been prepared on a going concern basis, notwithstanding the fact that there is a net current deficit of £207,564 (2023: £285,103) on the balance sheet. The Directors, having made appropriate enquiries, are satisfied that the company will receive continued support from the company's ultimate shareholders and the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for membership and usage of fitness facilities. Fees for the usage of fitness facilities is recognised for the period for which it is due. Membership fees are recognised for the period for which they are due.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise licences are being amortised evenly over term of the agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the lease term
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Franchise
licence
£   
COST
At 1 October 2023
and 30 September 2024 376,120
AMORTISATION
At 1 October 2023
and 30 September 2024 376,120
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 October 2023 1,695,971 971,114 16,381
Additions 677,051 108,293 5,850
Reclassification/transfer (5,450 ) - -
At 30 September 2024 2,367,572 1,079,407 22,231
DEPRECIATION
At 1 October 2023 355,322 538,678 8,419
Charge for year 125,037 163,916 3,945
At 30 September 2024 480,359 702,594 12,364
NET BOOK VALUE
At 30 September 2024 1,887,213 376,813 9,867
At 30 September 2023 1,340,649 432,436 7,962

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 - 23,926 2,707,392
Additions 35,072 8,420 834,686
Reclassification/transfer - - (5,450 )
At 30 September 2024 35,072 32,346 3,536,628
DEPRECIATION
At 1 October 2023 - 11,424 913,843
Charge for year 2,975 5,771 301,644
At 30 September 2024 2,975 17,195 1,215,487
NET BOOK VALUE
At 30 September 2024 32,097 15,151 2,321,141
At 30 September 2023 - 12,502 1,793,549

The net book value of fixed assets of £2,321,141 (2023: £1,793,549) includes an amount of £164,742 (2023: £259,102) in respect of assets held under finance leases. Depreciation charge for the year on these assets was £109,074 (2023: £122,395).

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 October 2023
and 30 September 2024 500
NET BOOK VALUE
At 30 September 2024 500
At 30 September 2023 500

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

KMP Fitness (Thanet) Ltd
Registered office: United Kingdom
Nature of business: Operating fitness facilities
%
Class of shares: holding
Ordinary 100.00

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. FIXED ASSET INVESTMENTS - continued

KMP Fitness (Newport) Ltd
Registered office: United Kingdom
Nature of business: Operating fitness facilities
%
Class of shares: holding
Ordinary 100.00

KMP Fitness (Herne Bay) Ltd
Registered office: United Kingdom
Nature of business: Operating fitness facilities
%
Class of shares: holding
Ordinary 100.00

KMP Fitness (High Wycombe) Ltd
Registered office: United Kingdom
Nature of business: Operating fitness facilities
%
Class of shares: holding
Ordinary 100.00

KMP Fitness (Whitstable) Ltd
Registered office: United Kingdom
Nature of business: Operating fitness facilities
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors 704 3,552
Rent deposits 99,750 72,000
VAT 3,620 1,491
Prepayments 126,591 100,069
230,665 177,112

Amounts falling due after more than one year:
Amounts owed by group undertakings 17,721 -

Aggregate amounts 248,386 177,112

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 10) 35,986 40,491
Finance leases (see note 11) 108,591 83,934
Trade creditors 255,679 528,183
Social security and other taxes 8,139 5,735
Sundry creditors 500 500
Directors' current accounts 33,000 -
Accrued expenses 66,696 53,989
508,591 712,832

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 10) 30,432 75,065
Finance leases (see note 11) 193,917 71,977
Amounts owed to group undertakings 501,466 615,723
Other creditors 1,690,840 1,103,178
2,416,655 1,865,943

10. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 25,764 30,321
BBLS Loan <1year 10,222 10,170
35,986 40,491

Amounts falling due between one and two years:
Bank loans - 1-2 years 23,617 30,321
BBLS Loan 1-2 years 6,815 10,170
30,432 40,491

Amounts falling due between two and five years:
Bank loans - 2-5 years - 27,794
BBLS Loan 2-5 years - 6,780
- 34,574

Due to uncertainties relating to Covid19 pandemic the company had received bounce back loan of £50,000 from HSBC Bank Plc. During the year the company repaid £10,084 (2023: £10,155) and the balance due to HSBC Bank at the balance sheet date amounted to £17,037 (2023:£27,121). This loan is supported by the government scheme and repayable by instalment within five years.

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 108,591 83,934
Between one and five years 193,917 71,977
302,508 155,911

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 410,522 281,462
Between one and five years 1,735,806 1,347,238
In more than five years 643,768 615,529
2,790,096 2,244,229

Amounts due under H.P. agreements and finance leases are secured on plant and machinery acquired using H.P. Finance leases.

12. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 49,381 88,436

The bank loans are secured by way of fixed and floating charge over all the property and undertakings of the company.

13. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 452,509 321,558

Deferred
tax
£   
Balance at 1 October 2023 321,558
Provided during year 130,951
Balance at 30 September 2024 452,509

KMP Fitness Limited (Registered number: 10621231)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
99 Ordinary £1 99 99

15. RESERVES
Retained
earnings
£   

At 1 October 2023 (678,654 )
Deficit for the year (76,532 )
At 30 September 2024 (755,186 )

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £33,000 (2023: £NIL) to its directors.

Included in other creditors (more than 1 year) is an amount of £474,962 (2023:£4,123) owed by the company to one of its directors.

17. RELATED PARTY DISCLOSURES

Included in other creditors (more than 1 year) is an amount of £1,176,327 (2023: £1,089,916) owed by the company to KMP Propfin Ltd, a related party entity. During the year interest of £86,411 (2023: £63,466) was charged by KMP Propfin Ltd on this loan.

Also included in other creditors (more than 1 year) is an amount of £17,051 (2023: £9,139) owed by the company to KMP & Sons, a related party entity.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.