FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
COMPANY INFORMATION
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HOLDING EB COMPANY LTD
CONTENTS
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HOLDING EB COMPANY LTD
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 27 APRIL 2024
The directors present their strategic report for Holding EB Company Limited and its subsidiaries for the year ended 27 April 2024. The trading within the group sits within its subsidiary, Emma Bridgewater Limited, and therefore this report has been written in relation to this company.
PRINCIPAL ACTIVITY The Company is a holding company and the principal activity of its subsidiary undertakings continue to be the manufacture of pottery together with the wholesale and retail of both pottery and lifestyle goods in the United Kingdom, Europe, USA and the Rest of the World.
Turnover decreased by 16% to £31.6m (2023: £37.8m). This decline was primarily driven by reduced sales across eCommerce and wholesale channels, partially offset by growth in physical retail store performance. Gross margin decreased to 35.9% (2023: 38.9%), impacted by increased promotional activity in response to competitive market conditions and cost inflation.
Operating losses increased to £4.0m (2023: £1.2m). In response to these trading conditions, the Company implemented operational restructuring including workforce optimisation and reduced production schedules to better align with demand patterns. FUTURE DEVELOPMENTS AND STRATEGIC PRIORITIES The Directors have implemented comprehensive measures to strengthen performance and position the business for future sustainable, profitable growth. Current performance for the first eight months of FY25 is aligned with management expectations and represents a significant improvement on FY24. Leadership and Governance The Company has assembled an experienced executive team led by CEO Iain Martin, appointed in January 2024. Iain brings extensive expertise in scaling eCommerce businesses, notably as Managing Director of Moonpig.com. The leadership team was further strengthened by the appointment of Mark Ross as CFO in April 2024, bringing significant experience from Under Armour Inc and Boohoo plc. Investment and Financial Position Business Growth Fund (BGF), the parent company's private equity investors, have demonstrated continued support through additional investment of £2,200,000 in May 2024 in the Group, providing capital to execute strategic initiatives. Strategic Growth Initiatives include:
∙Brand positioning enhancement through reduced promotional activity, targeting gross margin improvement of +2% in FY25.
∙eCommerce sales capability enhancement; including the successful integration of Shopify 2.0 in August 2024.
∙Rationalization of SKU portfolio to focus on core products and best-performing lines.
∙Implementation of enhanced inventory management processes to improve stock turn and reduce working capital.
∙Supply chain optimization, including new logistics partnerships (Oct 2024) delivering projected like for like annual savings of £1.0m.
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HOLDING EB COMPANY LTD
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 27 APRIL 2024
Market Risk: The Company operates in a competitive retail environment subject to changing consumer preferences and macro-economic conditions. Management actively monitors market trends and adapts strategic positioning accordingly.
Operational Risks Cost Management: While input cost inflation has stabilized, the Company maintains robust cost control measures and continues to identify efficiency opportunities. Supply Chain: Continuous review of supplier relationships and logistics arrangements to optimize costs and maintain service levels. Financial Risks Liquidity: Working capital management remains a key focus, with regular review of cash forecasts and funding requirements. The Company maintains appropriate facilities to support operational needs. Currency: The Company manages transaction and translation exposure through natural hedging where possible and considers financial hedging for material exposures. Interest Rate: Exposure is monitored and managed through a balanced approach to funding sources and tenors. Credit: Customer credit risk is managed through established limits based on payment history and external credit references, supported by regular monitoring and review processes.
The Board monitors a comprehensive set of financial and operational metrics including:
Financial Metrics
∙Revenue growth by channel and geography
∙Gross margin performance
∙Working capital efficiency
∙EBITDA and cash conversion
Operational Metrics
∙Customer satisfaction scores
∙Product availability
∙Order fulfilment rates
∙Digital platform performance
This report was approved by the board and signed on its behalf.
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HOLDING EB COMPANY LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 27 APRIL 2024
The directors present their report and the financial statements for the year ended 27 April 2024.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £4,514,040 (2023: loss £9,145,055).
The dividend amount declared and paid in the year was £nil (2022: £32,000).
The directors who served during the year were:
As detailed in the Strategic Report the directors have implemented a comprehensive transformation plan to strengthen performance and drive sustainable growth.
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HOLDING EB COMPANY LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 27 APRIL 2024
As a BCorp business Emma Bridgewater Ltd is an enthusiastic member of a global movement committed to balancing purpose and profit, legally requiring the business to consider the impact of our decisions on our workers, customers, community, and the environment, as well as our shareholders. Being a BCorp fundamentally influences our strategic decision making and supports us to improve in a more holistic, credible and consistent way across the business. The B Corp process has helped us to prioritise and re-energise our People Plan to materially improve the experience of life at work and the health and wellbeing of colleagues through new, impactful initiatives since 2022.
COMMITMENT TO COLLEAGUES
∙Member of the Employers Network for Equality and Inclusion supporting our commitment to improve fairness and access to opportunity across the business for all colleagues
∙Improved internal communications about the business and increased engagement with colleagues via our new MyEB app, featuring weekly news updates, staff health & wellbeing resources and personal benefits plus weekly physical and email news updates for all managers, team leaders and all colleagues
∙Introduced first Health & Wellbeing Strategy with supporting employee assistance app plus new sabbatical policy, became disability confident employer, fostering friendly employer, working towards becoming a menopause friendly employer
∙Trained over 30 colleagues as Mental Health First Aiders and established Diversity & Inclusion Champions group across the business supporting colleagues and raising awareness.
We are committed to playing a positive and constructive role in our local communities in Stoke-on-Trent through our school partnerships, educational visits programme, work experience opportunities, our community open days and charitable donation strategy.
COMMITMENT TO REDUCING OUR ENVIRONMENTAL IMPACT
∙All waste clay and glass are now completely recycled
∙Grey water recycled onsite for cleaning and waste heat reused for manufacturing processes
∙All our textiles printed on 100% unbleached cotton reducing use of water and chemicals
GOING CONCERN
The directors have assessed the Group's ability to continue as a going concern, taking into account both current performance and the Group's outlook for a minimum of 12 months from the date of approval of these financial statements.
The assessment is supported by a detailed 3 Year Plan which includes sensitivity analysis. This analysis demonstrates that the Group maintains adequate financial resources to:
∙Continue operational activities
∙Meet liabilities as they fall and comply with all lending covenants
∙Support planned business growth
The Group has successfully renewed its banking facilities with HSBC UK Bank plc until 13 March 2026, providing long-term funding security and capacity for strategic investment. This renewal strengthens the Group's liquidity position and supports its growth objectives.
In forming their assessment, the directors have carefully evaluated the current macro-economic environment, particularly focusing on, Inflationary pressures affecting labour costs, supply chain dynamics and pricing and market conditions and their potential impact on trading performance.
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HOLDING EB COMPANY LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 27 APRIL 2024
Based on this assessment, the directors have concluded that the Group has adequate resources and a reasonable expectation of maintaining sufficient funding to continue operational existence for at least 12 months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Post year end, unsecured loan notes totalling £2.2m were issued to investors.
The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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HOLDING EB COMPANY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLDING EB COMPANY LTD
We have audited the financial statements of Holding EB Company Ltd (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 27 April 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Analysis of Net Debt Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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HOLDING EB COMPANY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLDING EB COMPANY LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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HOLDING EB COMPANY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLDING EB COMPANY LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the sector, control environment and the Parent Company's and Group’s performance;
∙Results of our enquiries of management and the Directors, about their own identification and assessment of the risks of irregularities;
∙Any matters we identified having obtained and reviewed the Parent Company's and Group’s documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
∙The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the Parent Company and Group for fraud, which included incorrect recognition of revenue, management override of controls using manual journal entries, incomplete provision for returns, and identified the greatest potential for fraud as incorrect recognition of revenue and management override using manual journal entries.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the Parent Company and Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Group’s and Parent Company's ability to operate or to avoid a material penalty. These included occupational health and safety regulations, data protection regulations, product standards regulations, the packaging levy, disposal of waste materials regulations and employment legislation. Our procedures to respond to risks identified included the following for the Parent Company and its subsidiaries, as was considered appropriate:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙Enquiring of management concerning actual and potential litigation and claims;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙Reading minutes of meetings; and
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HOLDING EB COMPANY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLDING EB COMPANY LTD (CONTINUED)
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of the business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
2nd Floor Stratus House
Emperor Way
Exeter Business Park
EX1 3QS
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HOLDING EB COMPANY LTD
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
REGISTERED NUMBER:12502965
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 27 APRIL 2024
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HOLDING EB COMPANY LTD
REGISTERED NUMBER:12502965
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 27 APRIL 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 38 form part of these financial statements.
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HOLDING EB COMPANY LTD
REGISTERED NUMBER:12502965
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 27 APRIL 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 38 form part of these financial statements.
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HOLDING EB COMPANY LTD
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 APRIL 2023
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HOLDING EB COMPANY LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 APRIL 2023
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HOLDING EB COMPANY LTD
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
Holding EB Company Ltd (12502965) is a private company limited by shares incorporated in England and Wales. The registered office is Lichfield Street, Hanley, Stoke-On-Trent, Staffordshire, United Kingdom, ST1 3EJ .
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 06 March 2020.
The Group recognises a merger reserve as a result of a group reorganisation and share for share exchange.
The directors have assessed the Group's ability to continue as a going concern, taking into account both current performance and the Group's outlook for a minimum of 12 months from the date of approval of these financial statements.
In forming their assessment, the directors have carefully evaluated the current macro-economic environment, particularly focusing on, Inflationary pressures affecting labour costs, supply chain dynamics and pricing and market conditions and their potential impact on trading performance. Based on this assessment, the directors have concluded that the Group has adequate resources and a reasonable expectation of maintaining sufficient funding to continue operational existence for at least 12 months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. Further detail relating to going concern has been included in the Directors' Report.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
2.ACCOUNTING POLICIES (continued)
Functional and presentation currency
Transactions and balances
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
2.ACCOUNTING POLICIES (continued)
DEFINED CONTRIBUTION PENSION PLAN
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
2.ACCOUNTING POLICIES (continued)
GOODWILL
OTHER INTANGIBLE ASSETS
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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.
The estimated useful lives range as follows:
Research and development expenditure is written off against profits in the year in which it is incurred.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
2.ACCOUNTING POLICIES (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
2.ACCOUNTING POLICIES (continued)
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in ordinary shares.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. Key sources of estimation and uncertainty The estimates and assumptions which have significant risk of causing a material adjustment to the carrying value of assets and liabilities are as follows: Valuation of investment in subsidiary and goodwill arising on consolidation The carrying value of Holding EB Company's investment in its subsidiary Elephant Design Limited and the valuation of goodwill arising on consolidation are assessed for indications of impairment on a periodic basis or when events occur that indicate an impairment may have taken place. If such indication exists, the recoverable amount of the asset is determined by considering which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The directors review the estimated useful economic life of goodwill on at least an annual basis. Where the remaining life of goodwill is considered to have reduced, an appropriate adjustment to amortisation is prospectively charged. Stock valuation The Group's carrying value of stock relates to management's assessment of the saleability of stock. Where uncertainty exists a provision is made against certain stock lines. It is possible that the future outcome may differ slightly to any provision made.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
Analysis of turnover by country of destination:
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
10.TAXATION (CONTINUED)
Legislation has been enacted that increases the main rate of corporation tax from 19% to 25%, taking place over a period of adjustment, starting in April 2023.
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
Page 35
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
Page 36
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
Share premium account
Merger reserve
Profit and loss account
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HOLDING EB COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 APRIL 2024
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £212,137 (2023: £229,241). Contributions totalling £19,345 (2023: £31,601) were payable to the fund at the reporting date and are included in creditors.
The Group operates a defined benefit pension scheme for qualifying employees. Under the scheme the employees are entitled to retirement benefits.
The most recent actuarial valuations of plan assets and the present value of the defined benefit obligation were carried out at 29 April 2023 by Adrian Dobson of Broadstone Consultants & Actuaries Limited, Fellow of the Institute and Faculty of Actuaries. The present value of the defined benefit obligation, the related current service cost and past service cost were measured using the projected unit credit method.
During the year, the last qualifying member remaining in the scheme passed away, and so there is no longer any liability in respect of the scheme. Benefits of £27,242 (2023: £41,693) were paid out during the year. The balance of the liability, being £225,525, was released upon the closure of the scheme.
The ultimate controlling party is
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