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Company No: 03445703 (England and Wales)

# TOM FRENCH & ASSOCIATES LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

TOM FRENCH & ASSOCIATES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

TOM FRENCH & ASSOCIATES LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2025
TOM FRENCH & ASSOCIATES LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 168,000 |  | 199,500
Tangible assets | 4 | 17,634 |  | 12,689
Investments | 5 | 0 |  | 1
|  | 185,634 |  | 212,190
Current assets |  |  |  |
Debtors | 6 | 585,975 |  | 434,041
Cash at bank and in hand |  | 445,183 |  | 371,525
|  | 1,031,158 |  | 805,566
Creditors: amounts falling due within one year | 7 | ( 539,087) |  | ( 514,862)
Net current assets |  | 492,071 |  | 290,704
Total assets less current liabilities |  | 677,705 |  | 502,894
Creditors: amounts falling due after more than one year | 8 | ( 32,000) |  | ( 40,750)
Provision for liabilities | 9 | ( 20,000) |  | ( 20,000)
Net assets |  | 625,705 |  | 442,144
Capital and reserves |  |  |  |
Called-up share capital | 11 | 4,140 |  | 4,140
Share premium account |  | 37,337 |  | 37,337
Profit and loss account |  | 584,228 |  | 400,667
Total shareholders' funds |  | 625,705 |  | 442,144

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Tom French & Associates Limited (registered number: 03445703) were approved and authorised for issue by the Board of Directors on 30 March 2026. They were signed on its behalf by:

Christopher Grant Glazier Director |

TOM FRENCH & ASSOCIATES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
TOM FRENCH & ASSOCIATES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 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

Tom French & Associates 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 Prudence House Langage Business Park, Plympton, Plymouth, PL7 5JX, 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 recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue recognition: The Company has adopted the policy of recognising renewals and trail income, where performance obligations have already been met, but where the related income has been received post year end. The total amount of this income stream has been estimated based on historic data. Related amounts of commission due to the Company's Financial Advisers based on this accrued income is also calculated and included in cost of sales accruals.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### 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 Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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 | 10 years straight line
Website costs | 5 years straight line

###### Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 years.

###### Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:
[Input type of fixed asset and rate of depreciation]

Vehicles | 3 years straight line
Office equipment | 25 % reducing balance
Computer 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.
Land and buildings were valued at [input date]. The valuation was undertaken by [input name] and qualification on the [input detail basis.]

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

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

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 20 |  | 16

#### 3. Intangible assets

| Goodwill |  | Website costs |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2025 | 315,000 |  | 11,250 |  | 326,250
At 31 December 2025 | 315,000 |  | 11,250 |  | 326,250
Accumulated amortisation |  |  |  |  |
At 01 January 2025 | 115,500 |  | 11,250 |  | 126,750
Charge for the financial year | 31,500 |  | 0 |  | 31,500
At 31 December 2025 | 147,000 |  | 11,250 |  | 158,250
Net book value |  |  |  |  |
At 31 December 2025 | 168,000 |  | 0 |  | 168,000
At 31 December 2024 | 199,500 |  | 0 |  | 199,500

#### 4. Tangible assets

| Vehicles |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 9,923 |  | 100,313 |  | 28,164 |  | 138,400
Additions | 7,833 |  | 120 |  | 3,177 |  | 11,130
Disposals | ( 9,923) |  | 0 |  | 0 |  | ( 9,923)
At 31 December 2025 | 7,833 |  | 100,433 |  | 31,341 |  | 139,607
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 9,166 |  | 92,135 |  | 24,410 |  | 125,711
Charge for the financial year | 1,306 |  | 2,050 |  | 2,072 |  | 5,428
Disposals | ( 9,166) |  | 0 |  | 0 |  | ( 9,166)
At 31 December 2025 | 1,306 |  | 94,185 |  | 26,482 |  | 121,973
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 6,527 |  | 6,248 |  | 4,859 |  | 17,634
At 31 December 2024 | 757 |  | 8,178 |  | 3,754 |  | 12,689

#### 5. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 January 2025 | 1 |  | 1
Disposals | ( 1) |  | ( 1)
At 31 December 2025 | 0 |  | 0
Carrying value at 31 December 2025 | 0 |  | 0
Carrying value at 31 December 2024 | 1 |  | 1

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 236,301 |  | 231,957
Amounts owed by Group undertakings | 55,687 |  | 0
Deferred tax asset | 2,001 |  | 3,707
Other debtors | 291,986 |  | 198,377
| 585,975 |  | 434,041

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 221,456 |  | 252,234
Accruals | 206,108 |  | 166,108
Taxation and social security | 102,773 |  | 57,145
Other creditors | 8,750 |  | 39,375
| 539,087 |  | 514,862

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 32,000 |  | 40,750

There are no amounts included above in respect of which any security has been given by the small entity.

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Other provisions | 20,000 |  | 20,000

Clawback provision:
The provision of £10,000 (2024: £10,000) represents an expected level of clawbacks of commissions received on "indemnity" terms whereby commission amounts are repayable if policies are cancelled subsequent to their sale. The provision is estimated based on historic data, the number of clawbacks, the emergence period of the clawback and the amount of clawback within a 4 year period of the indemnity policy being written.
Claims provision:
A provision of £10,000 (2024: £10,000) represents specific customer services cost claims and is calculated in reference to the excess on the Professional Indemnity Insurance policy in respect of two potential claims.

#### 10. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | 3,707 |  | 3,307
(Charged)/credited to the Statement of Income and Retained Earnings | ( 1,706) |  | 400
At the end of financial year | 2,001 |  | 3,707

#### 11. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
4,140 Ordinary shares of £ 1.00 each | 4,140 |  | 4,140

#### 12. Financial commitments

Commitments

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

| 2025 |  | 2024
| £ |  | £
within one year | 20,330 |  | 20,330
between one and five years | 27,437 |  | 47,437
Total future minimum lease payments under non-cancellable operating leases | 47,767 |  | 67,767

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. There were no outstanding contributions due at the year end (2024: £nil).

#### 13. Related party transactions

Transactions with the entity's directors

At the year end, the Company owed a director £32,000 (2024: £32,000) which is a subordinated loan due in greater than one year.