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REGISTERED NUMBER: 12671338 (England and Wales)





























Unaudited Financial Statements for the Year Ended 31 March 2024

for

Esselle Retail Limited

Esselle Retail Limited (Registered number: 12671338)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Esselle Retail Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr Suraj Lalvani





REGISTERED OFFICE: The Old Town Hall
Bacup Road
Rawtenstall
Rossendale
BB4 7LY





REGISTERED NUMBER: 12671338 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

Esselle Retail Limited (Registered number: 12671338)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 32,633 (116,429 )
Tangible assets 5 76,724 99,935
Investments 6 10,000 10,000
119,357 (6,494 )

CURRENT ASSETS
Stocks 1,388,298 1,014,266
Debtors 7 2,517,071 2,449,351
Cash at bank and in hand 95,706 586,884
4,001,075 4,050,501
CREDITORS
Amounts falling due within one year 8 (3,628,931 ) (4,132,864 )
NET CURRENT ASSETS/(LIABILITIES) 372,144 (82,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,501

(88,857

)

CREDITORS
Amounts falling due after more than one
year

9

(580,000

)

-

PROVISIONS FOR LIABILITIES 11 (18,073 ) (24,760 )
NET LIABILITIES (106,572 ) (113,617 )

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings (106,573 ) (113,618 )
SHAREHOLDERS' FUNDS (106,572 ) (113,617 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Esselle Retail Limited (Registered number: 12671338)

Balance Sheet - continued
31 March 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 approved by the director and authorised for issue on 25 October 2024 and were signed by:





Mr Suraj Lalvani - Director


Esselle Retail Limited (Registered number: 12671338)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Esselle Retail 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.

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.

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 from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measure reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

Negative goodwill
The excess of the cost of the acquisition of the specific assets Arthouse Ltd detailed in note 12 compared with the fair value of the assets acquired, has been included in the accounts as negative goodwill.

This excess, up to the fair value of non-monetary assets acquired, is recognised in the profit and loss account in the period in which the non-monetary assets are recovered. This will be within two years of the date of acquisition.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 5% on cost
Office equipment - Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Esselle Retail Ltd is exempt from preparing group accounts as Esselle Retail Ltd and the group headed by it qualify as small under S383 of the Companies Act 2006.
The investments in subsidiaries are measured at cost less impairment.

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


Esselle Retail Limited (Registered number: 12671338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 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.

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 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.

Exceptional items
Any amounts that are shown as exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size.

Going concern
The directors are confident that sufficient financial resources will be available to the company in order for it to continue in operational existence for the foreseeable future.
Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 9 ) .

Esselle Retail Limited (Registered number: 12671338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Patents
Negative and Computer
goodwill licences Trademarks software Totals
£    £    £    £    £   
COST
At 1 April 2023 (1,718,934 ) 200 34,999 20,131 (1,663,604 )
Additions - - - 5,210 5,210
At 31 March 2024 (1,718,934 ) 200 34,999 25,341 (1,658,394 )
AMORTISATION
At 1 April 2023 (1,564,229 ) 134 3,500 13,420 (1,547,175 )
Amortisation for year - 66 3,500 7,287 10,853
Amounts released to the profit
and loss account (154,705 ) - - - (154,705 )
At 31 March 2024 (1,718,934 ) 200 7,000 20,707 (1,691,027 )
NET BOOK VALUE
At 31 March 2024 - - 27,999 4,634 32,633
At 31 March 2023 (154,705 ) 66 31,499 6,711 (116,429 )

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 952 4,662 48,279 71,694 125,587
Additions - 6,284 21,200 37,107 64,591
Disposals (952 ) - - - (952 )
At 31 March 2024 - 10,946 69,479 108,801 189,226
DEPRECIATION
At 1 April 2023 55 888 10,447 14,262 25,652
Charge for year 132 3,346 33,292 50,267 87,037
Eliminated on disposal (187 ) - - - (187 )
At 31 March 2024 - 4,234 43,739 64,529 112,502
NET BOOK VALUE
At 31 March 2024 - 6,712 25,740 44,272 76,724
At 31 March 2023 897 3,774 37,832 57,432 99,935

Esselle Retail Limited (Registered number: 12671338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 10,000
At 31 March 2023 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,323,216 2,251,966
Other debtors 922 40,557
Tax 2,936 11,680
Prepayments 189,997 145,148
2,517,071 2,449,351

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,129,701 589,376
Amounts owed to group undertakings 33,129 -
Tax - 2,936
Social security and other taxes 38,941 48,887
VAT 357,022 249,916
Other creditors 1,682,981 2,475,866
Rebates & customer support 136,123 118,867
Associated company loan - 6,057
Directors' current accounts 9,940 84,582
Accrued expenses 241,094 556,377
3,628,931 4,132,864

Included within other creditors is £1,663,091 (2023 - £1,702,403) in respect of invoice financing, which is secured by a way of a debenture against all the assets of the company and personal guarantees given by the director.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 580,000 -

Other creditors falling due after more than one year are made up of £580,000 in respect of unsecured loans. Last year these were included within other creditors falling due within one year, and totalled £760,000.

Esselle Retail Limited (Registered number: 12671338)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 87,300 5,002
Between one and five years 102,500 -
189,800 5,002

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 18,073 24,760

Deferred
tax
£   
Balance at 1 April 2023 24,760
Provided during year (6,687 )
Balance at 31 March 2024 18,073

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1