Contents of the Financial Statements

for the Period Ended 31 March 2021

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 March 2021

The directors present their report with the financial statements of the company for the period ended 31 March 2021

Directors

The directors shown below have held office during the whole of the period from
1 April 2020 to 31 March 2021

Jason Bloom
Keith Burnet
Doug Robb

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
21 June 2022

And signed on behalf of the board by:
Name: Jason Bloom
Status: Director

Profit And Loss Account

for the Period Ended 31 March 2021

	2021	2020
	£	£
Turnover:	11,649,693	15,171,568
Cost of sales:	( 4,447,847 )	( 5,957,568 )
Gross profit(or loss):	7,201,846	9,214,000
Administrative expenses:	( 5,930,861 )	( 8,419,573 )
Operating profit(or loss):	1,270,985	794,427
Interest payable and similar charges:	( 12,302 )	( 17,656 )
Profit(or loss) before tax:	1,258,683	776,771
Tax:	( 253,150 )	55,401
Profit(or loss) for the financial year:	1,005,533	832,172

Balance sheet

As at 31 March 2021

	Notes	2021	2020
		£	£
Fixed assets
Tangible assets:	3	582,840	1,044,357
Investments:	4	21,966	21,966
Total fixed assets:		604,806	1,066,323
Current assets
Stocks:	5	447,414	236,665
Debtors:	6	4,025,496	6,294,907
Cash at bank and in hand:		916,791	620,426
Total current assets:		5,389,701	7,151,998
Creditors: amounts falling due within one year:	7	( 1,490,526 )	( 2,460,612 )
Net current assets (liabilities):		3,899,175	4,691,386
Total assets less current liabilities:		4,503,981	5,757,709
Creditors: amounts falling due after more than one year:	8	( 105,715 )	( 445,557 )
Provision for liabilities:		( 339,843 )	( 368,947 )
Total net assets (liabilities):		4,058,423	4,943,205
Capital and reserves
Called up share capital:		3,000,001	3,000,001
Profit and loss account:		1,058,422	1,943,204
Total Shareholders' funds:		4,058,423	4,943,205

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Turnover policy

  Revenue is recognised only when it is probable that the economic benefits associated with the transaction will flow tothe Company. Revenue represents amounts derived from the sale or licensing of LES MILLSTM intellectual property,music and equipment to health clubs and various fitness facilities.The Company adopted IFRS 15 using the cumulative effect method. There is no material impact to the comparativefiguresi. Sales of goods (recognised at point in time)Sales of goods represent amounts derived from the sale of LES MILLSTM music and equipment to health clubs andvarious fitness facilities. Sales of goods are recognised when significant risks and rewards of ownership of the goodshave been transferred to the customer. Revenue is recorded at the fair value, less any discounts, returns and allowances.Transfer of risks and rewards usually occurs when the product is collected by the relevant shipping or courier service.ii. Rendering of services (recognised at point in time)Rendering of services represents amounts derived from the LES MILLSTM training and upskilling fitness instructors.Rendering of services are recognised when significant risks and rewards of the services performed have beentransferred to the customer.iii. Club license fees (recognised over time)Relicensing period. Deferred income represents amounts received for licence fees and other services not yet provided tocustomers.

  Tangible fixed assets depreciation policy

  Depreciation is recognised in profit or loss on a straight-line basis over the estimated useful lives of an item of property,plant and equipment.The estimated useful lives for the current and comparative periods are as follows:Leasehold improvements over the period of the leaseFurniture and fittings 2 13 yearsComputer equipment 2 5 yearsDepreciation methods, useful lives and residual values are reviewed at each reporting date.

Notes to the Financial Statements

for the Period Ended 31 March 2021

• 2. Employees

  	2021	2020
  Average number of employees during the period	61	87