Registration number: 8617935

Jim French and Associates Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Jim French and Associates Limited

Company Information

Directors

Mrs Alison French Mr Jim French

Registered office

West Penhill Farm Fremington Barnstaple Devon EX31 2NG

Accountants

Ward & Co Consultants Limited West Penhill Farm Fremington Barnstaple Devon EX31 2NG

Jim French and Associates Limited

(Registration number: 8617935)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	39,109	57,591
Current assets
Stock	5	1,321,796	1,247,795
Debtors	6	128	32,894
Cash at bank and in hand		94,789	73,291
		1,416,713	1,353,980
Creditors: Amounts falling due within one year	7	(157,936)	(82,389)
Net current assets		1,258,777	1,271,591
Total assets less current liabilities		1,297,886	1,329,182
Creditors: Amounts falling due after more than one year	7	-	(50,000)
Provisions for liabilities		(7,431)	(10,942)
Net assets		1,290,455	1,268,240
Capital and reserves
Called up share capital	8	100	100
Retained earnings		1,290,355	1,268,140
Shareholders' funds		1,290,455	1,268,240

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 May 2026 and signed on its behalf by:
 

......................................... Mr Jim French Director

Jim French and Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
West Penhill Farm
Fremington
Barnstaple
Devon
EX31 2NG

These financial statements were authorised for issue by the Board on 21 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Jim French and Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Jim French and Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	1,810	74,979	76,789
Additions	954	-	954
At 31 July 2025	2,764	74,979	77,743
Depreciation
At 1 August 2024	453	18,745	19,198
Charge for the year	691	18,745	19,436
At 31 July 2025	1,144	37,490	38,634
Carrying amount
At 31 July 2025	1,620	37,489	39,109
At 31 July 2024	1,357	56,234	57,591

5

Stock

	2025 £	2024 £
Other inventories	1,321,796	1,247,795

6

Debtors

Current	2025 £	2024 £
Other debtors	128	32,894
	128	32,894

Jim French and Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	100,000	50,000
Accruals and deferred income		2,793	2,705
Other creditors		55,143	29,684
		157,936	82,389

Creditors include bank loans which are secured of £100,000 (2024 - £50,000).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	50,000

Creditors include bank loans which are secured of £0 (2024 - £50,000).

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	50,000

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	100,000	50,000