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Registered number: 10732416









EVENT MERCHANDISING HOLDINGS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
J M Goldsmith 
P S Goldsmith 




Registered number
10732416



Registered office
Unit 11
The Edge

Humber Road

London

NW2 6EW




Independent auditors
Adler Shine LLP
Chartered Accountants & Statutory Auditor

Cornwall Avenue

London

N3 1LF





 
EVENT MERCHANDISING HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
1 - 2
Directors' report
3 - 4
Independent auditors' report
5 - 8
Consolidated statement of comprehensive income
9
Consolidated balance sheet
10 - 11
Company balance sheet
12
Consolidated statement of changes in equity
13
Company statement of changes in equity
14
Consolidated statement of cash flows
15
Notes to the financial statements
16 - 33


 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Introduction
 
Event Merchandising Holdings Limited is the parent company of Event Merchandising Limited and Event Merchandising Germany GmbH.  The principal activity of the Group is to sell merchandise for various events which range from entertainment to sporting events. The services which the group provides are in relation to creative design, production, merchandise, and e-commerce services. 

Business review
 
The Group stands as a distinguished global authority in the realm of branded merchandise and retail services, recognised for its excellence with numerous industry awards. With a rich history spanning over 40 years, the Group has forged partnerships with some of the world's most renowned brands and events.
Our comprehensive suite of services encompasses the design and procurement of creative products tailored to corporate needs, as well as the sale of merchandise at live events, permanent retail establishments, and pop-up shops. We specialise in devising licensing programs and running global online shops, directly catering to consumers.
The Group takes pride in delivering a remarkable consumer experience, offering goods and services that not only meet but exceed our clients' expectations, fostering fan engagement and enhancing brand perception. Our team boasts expertise in design, procurement, quality assurance, shipping, and logistics, complemented by flexibility that consistently delivers results beyond expectations. Our cultural ethos revolves around turning every day into a memorable event.
Utilising bespoke software, we have developed a seamless ordering and processing system, coupled with an efficient supply chain that enables us to provide our clients with swift fulfillment times. Our diverse client base spans across various industries, including sports, entertainment, corporate, film, and charities.

Principal risks and uncertainties
 
The Group faces notable risks and uncertainties influenced by the dynamics of the retail market and competitive pressures. To mitigate these challenges, the company adopts a strategy of providing value-added services to customers and ensuring swift response times, not only in product supply but also in addressing customer queries.
The subsidiary companies' business exhibits seasonality, with a more pronounced concentration of activities in the second half of the financial year.
In response to the United Kingdom's exit from the European Union ("EU"), the Group actively monitors, reassesses, and implements measures to mitigate potential impacts. EMH has set up a company in Germany to mitigate against these risks. Given recent political developments and a clearer outcome, our focus is specifically directed towards key risk areas: international sales, supply chain, foreign exchange, and the well-being of our employees. Constant vigilance and proactive measures are taken to navigate these challenges effectively.

Financial key performance indicators
 
KPI’s used to monitor the performance of the business include turnover, gross profit margin and profit before
tax:
Turnover £13.1m (2023: £11.8m)
Gross profit margin 35.6% (2023: 37.23%)
Profit before tax £2.7m (2023: £2.5m)  
 

Page 1

 
EVENT MERCHANDISING HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Other key performance indicators
 
The Group regularly reviews other key performance indicators (KPIs) across several critical areas:
 
• eCommerce: growth and management of new online accounts within 6 months periods.
• Health and Safety: Routine risk assessments are conducted to identify and mitigate potential hazards, 
ensuring a safe environment for all stakeholders.
• Environmental Responsibility: EM has implemented a robust environmental policy focused on compliance
and sustainability. We actively measure and reduce greenhouse gas emissions and hold ISO 14001 and 
ISO 9001 certifications.
 Employee Welfare: EM prioritizes attracting and retaining motivated, high-performing employees. Our low
employee turnover reflects the success of these efforts and our commitment to staff well-being. 


This report was approved by the board and signed on its behalf.



................................................
J M Goldsmith
Director

Date: 31 March 2025

Page 2

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors' responsibilities statement

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.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 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 judgments 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 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £2,145,239 (2023 - £1,923,076).
The dividends for the year amounted to £40,000 (2023 - £136,000).

Directors

The directors who served during the year were:

J M Goldsmith 
P S Goldsmith 

Page 3

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Future developments

Expand our offering for existing verticals
The Group is dedicated to elevating our services within our existing verticals. To meet the evolving demands of our discerning clientele, we are strategically expanding our retail team to include experts in experiential retailing.
This forward-looking move is motivated by the growing shift in customer expectations, which now favor immersive and experiential retail visits over traditional transactions. The directors recognise the need to provide our clients with innovative and memorable retail experiences that go beyond the ordinary.
Global expansion: A world of opportunity
As a thriving global business with a proven track record, the directors recognise the immense potential in expanding our geographic reach across various markets worldwide, replicating the success of events, festivals and pop- up retail stores in the UK and Europe.
The US would be a key market to focus on with the alignment of our services with US client preferences. However, with our core strengths in retailing and worldwide network we have the ability to service global brands in any country and will continue to explore global options.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsAdler Shine LLPwill 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.
 





................................................
J M Goldsmith
Director

Date: 31 March 2025

Page 4

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVENT MERCHANDISING HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Event Merchandising Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 30 June 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


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.


Conclusions relating to going concern


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.


Page 5

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVENT MERCHANDISING HOLDINGS LIMITED (CONTINUED)


Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

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.


Matters on which we are required to report by exception
 

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.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVENT MERCHANDISING HOLDINGS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

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:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. 
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we have:
 - considered the nature of the industry and sectors, control environment and business performance;
 - made enquires of management about their own identification and assessment of the risk of irregularities; 
 - performed audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness and reviewing accounting estimates for bias;
 - reviewed minutes of meetings;
 - undertaken appropriate sample based testing of bank transactions;
 - identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances
of non-compliance. The key laws and regulations we considered in this context included the UK Companies
Act, Data Protection, Anti-Bribery, Employment Law, Health and Safety, and Money Laundering Act;
 - discussed matters among the audit engagement team regarding how and where fraud might occur in the
financial statements and potential indicators of fraud.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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.


Other matters 
 

The comparative financial statements for the Group were unaudited.  


Page 7

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVENT MERCHANDISING HOLDINGS LIMITED (CONTINUED)


Use of our 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 2006Our 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.





Engin Zekia Bsc FCA (Senior statutory auditor)
  
for and on behalf of
Adler Shine LLP
 
Chartered Accountants
Statutory Auditor
  
Cornwall Avenue
London
N3 1LF

31 March 2025
Page 8

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

  

Turnover
 4 
13,167,739
11,830,037

Cost of sales
  
(8,431,494)
(7,368,272)

Gross profit
  
4,736,245
4,461,765

Distribution costs
  
(185,450)
(226,535)

Administrative expenses
  
(2,065,548)
(1,820,441)

Operating profit
 5 
2,485,247
2,414,789

Interest receivable and similar income
 9 
264,051
34,690

Profit before taxation
  
2,749,298
2,449,479

Tax on profit
 10 
(604,059)
(526,403)

Profit for the financial year
  
2,145,239
1,923,076

  

Total comprehensive income for the year
  
2,145,239
1,923,076

Profit for the year attributable to:
  

Owners of the parent Company
  
2,145,239
1,923,076

  
2,145,239
1,923,076

The notes on pages 16 to 33 form part of these financial statements.

Page 9

 
EVENT MERCHANDISING HOLDINGS LIMITED
REGISTERED NUMBER: 10732416

CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
69,788
83,795

Investments
 13 
375
375

  
70,163
84,170

Current assets
  

Stocks
  
1,172,659
637,412

Debtors: amounts falling due within one year
 15 
3,172,376
1,757,946

Cash at bank and in hand
 16 
8,273,895
6,936,104

  
12,618,930
9,331,462

Creditors: amounts falling due within one year
  
(4,393,811)
(3,259,563)

Net current assets
  
 
 
8,225,119
 
 
6,071,899

Total assets less current liabilities
  
8,295,282
6,156,069

Creditors: amounts falling due after more than one year
  
(26,693)
(27,181)

Provisions for liabilities
  

Deferred tax
  
(15,334)
(15,334)

Other provisions
  
(43,432)
(8,970)

  
 
 
(58,766)
 
 
(24,304)

Net assets
  
8,209,823
6,104,584


Capital and reserves
  

Called up share capital 
 22 
166
166

Capital redemption reserve
  
34
34

Profit and loss account
  
8,209,623
6,104,384

  
8,209,823
6,104,584


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2025.


................................................
J M Goldsmith
Director

The notes on pages 16 to 33 form part of these financial statements.
Page 10

 
EVENT MERCHANDISING HOLDINGS LIMITED
REGISTERED NUMBER: 10732416
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024


Page 11

 
EVENT MERCHANDISING HOLDINGS LIMITED
REGISTERED NUMBER: 10732416

COMPANY BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 13 
21,862
21,862

  
21,862
21,862

Current assets
  

Debtors: amounts falling due within one year
 15 
1,499,525
1,500,000

Cash at bank and in hand
 16 
746,269
718,034

  
2,245,794
2,218,034

Creditors: amounts falling due within one year
 17 
(74,448)
(27,767)

Net current assets
  
 
 
2,171,346
 
 
2,190,267

Total assets less current liabilities
  
2,193,208
2,212,129

  

  

Net assets excluding pension asset
  
2,193,208
2,212,129

Net assets
  
2,193,208
2,212,129


Capital and reserves
  

Called up share capital 
 22 
166
166

Profit and loss account brought forward
  
2,211,963
1,307,933

Profit for the year
  
21,079
1,040,030

Other changes in the profit and loss account

  

(40,000)
(136,000)

Profit and loss account carried forward
  
2,193,042
2,211,963

  
2,193,208
2,212,129


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2025.


................................................
J M Goldsmith
Director

The notes on pages 16 to 33 form part of these financial statements.

Page 12

 
EVENT MERCHANDISING HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£
£


At 1 July 2022
166
34
4,317,308
4,317,508
4,317,508


Comprehensive income for the year

Profit for the year
-
-
1,923,076
1,923,076
1,923,076

Dividends: Equity capital
-
-
(136,000)
(136,000)
(136,000)



At 1 July 2023
166
34
6,104,384
6,104,584
6,104,584


Comprehensive income for the year

Profit for the year
-
-
2,145,239
2,145,239
2,145,239

Dividends: Equity capital
-
-
(40,000)
(40,000)
(40,000)


At 30 June 2024
166
34
8,209,623
8,209,823
8,209,823


The notes on pages 16 to 33 form part of these financial statements.

Page 13

 
EVENT MERCHANDISING HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
166
1,307,933
1,308,099


Comprehensive income for the year

Profit for the year
-
1,040,030
1,040,030
Total comprehensive income for the year
-
1,040,030
1,040,030


Contributions by and distributions to owners

Dividends: Equity capital
-
(136,000)
(136,000)



At 1 July 2023
166
2,211,963
2,212,129


Comprehensive income for the year

Profit for the year
-
21,079
21,079
Total comprehensive income for the year
-
21,079
21,079


Contributions by and distributions to owners

Dividends: Equity capital
-
(40,000)
(40,000)


At 30 June 2024
166
2,193,042
2,193,208


The notes on pages 16 to 33 form part of these financial statements.

Page 14

 
EVENT MERCHANDISING HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
2,749,298
2,449,479

Adjustments for:

Depreciation of tangible assets
20,143
24,084

Interest received
(264,051)
(34,690)

(Increase) in stocks
(535,247)
(352,327)

(Increase)/decrease in debtors
(1,414,432)
499,297

Increase in creditors
923,913
18,299

Increase in provisions
34,462
8,970

Corporation tax (paid)
(393,426)
(563,688)

Net cash generated from operating activities

1,120,660
2,049,424


Cash flows from investing activities

Purchase of tangible fixed assets
(6,136)
(45,386)

Interest received
264,051
34,690

Net cash from investing activities

257,915
(10,696)

Cash flows from financing activities

Other new loans
-
43,580

Repayment of other loans
(784)
-

Dividends paid
(40,000)
(136,000)

Net cash used in financing activities
(40,784)
(92,420)

Net increase in cash and cash equivalents
1,337,791
1,946,308

Cash and cash equivalents at beginning of year
6,936,104
4,989,796

Cash and cash equivalents at the end of year
8,273,895
6,936,104


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
8,273,895
6,936,104

8,273,895
6,936,104


The notes on pages 16 to 33 form part of these financial statements.

Page 15

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Event Merchandising Holdings Limited is a private company limited by shares. The company is incorporated in England and Wales and the address of its registered office is Aston House, Cornwall Avenue, London N3 1LF. The registered number is 10732416.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 judgment in applying the Group's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

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 Balance sheet, 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 01 January 2014.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Group and the Company will be able to continue trading for the foreseeable future.

Page 16

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 17

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 18

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Pensions

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 Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 19

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
3 years straight line

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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 20

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of
Page 21

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are
Page 22

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

 
2.19

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods

Page 23

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Retail, online and event sales
13,167,739
11,830,037

13,167,739
11,830,037


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
12,259,788
10,257,624

Rest of Europe
85,411
381,715

Rest of the world
822,540
1,190,698

13,167,739
11,830,037



5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
6,016
13,101

Other operating lease rentals
66,139
64,648


6.


Auditors' remuneration

2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
42,000
37,500

Page 24

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
943,798
873,397
-
-

Social security costs
82,405
85,323
-
-

Cost of defined contribution scheme
21,954
30,738
-
-

1,048,157
989,458
-
-



8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
51,000
48,000

51,000
48,000


During the year retirement benefits were accruing to no directors (2023 - NIL) in respect of defined contribution pension schemes.


9.


Interest receivable

2024
2023
£
£


Other interest receivable
264,051
34,690

264,051
34,690

Page 25

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
533,726
530,789

Adjustments in respect of previous periods
-
(4,670)


533,726
526,119

Foreign tax


Foreign tax on income for the year
70,333
1,517

70,333
1,517

Total current tax
604,059
527,636

Deferred tax


Origination and reversal of timing differences
-
(1,233)

Total deferred tax
-
(1,233)


Tax on profit
604,059
526,403
Page 26

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,749,298
2,449,479


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
674,184
502,143

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
13,429
-

Capital allowances for year in excess of depreciation
3,078
-

Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax
223
-

Other differences leading to an increase (decrease) in the tax charge
(86,855)
24,260

Total tax charge for the year
604,059
526,403


11.


Dividends

2024
2023
£
£


Dividends paid
40,000
136,000

40,000
136,000

Page 27

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Tangible fixed assets

Group






Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
83,618
225,553
159,721
468,892


Additions
-
165
5,971
6,136



At 30 June 2024

83,618
225,718
165,692
475,028



Depreciation


At 1 July 2023
58,280
187,423
139,394
385,097


Charge for the year on owned assets
6,335
5,779
8,029
20,143



At 30 June 2024

64,615
193,202
147,423
405,240



Net book value



At 30 June 2024
19,003
32,516
18,269
69,788



At 30 June 2023
25,338
38,130
20,327
83,795


13.


Fixed asset investments

Group





Unlisted investments

£



Cost or valuation


At 1 July 2023
375



At 30 June 2024
375




Page 28

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Company





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
21,862



At 30 June 2024
21,862





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Event Merchandising Limited
Unit 11, The Edge, Humber Road, London, NW2 6EW
Ordinary
100%
Event Merchandising Germany GmbH
Berkaer Str. 30 14193 Berlin
Ordinary
100%
Event Merch Retail Ltd
Unit 11, The Edge, Humber Road, London, United Kingdom, NW2 6EW
Ordinary
100%

The aggregate of the share capital and reserves as at 30 June 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Event Merchandising Limited
5,556,551
153,428

Event Merchandising Germany GmbH
129,502
638,026

Event Merch Retail Ltd
100
-

Event Merchandising Germany GmbH is a company incorporated in Germany and 100% controlled by Event Merchandising Holdings Limited. The figures presented above relate to the year ended 30 June 2024. Event Merch Retail Ltd was incorporated on 23 May 2024 and is 100% controlled by Event Merchandising Holdings Limited.

Page 29

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,172,659
637,412

1,172,659
637,412



15.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
2,226,375
1,593,062
-
-

Amounts owed by group undertakings
-
-
1,499,525
1,500,000

Other debtors
546,626
71,283
-
-

Prepayments and accrued income
398,987
93,206
-
-

Tax recoverable
388
395
-
-

3,172,376
1,757,946
1,499,525
1,500,000



16.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
8,273,895
6,936,104
746,269
718,034

8,273,895
6,936,104
746,269
718,034


Page 30

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

17.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
16,104
16,399
-
-

Trade creditors
1,918,048
1,763,946
-
-

Corporation tax
667,311
456,681
6,844
945

Other taxation and social security
34,086
83,635
-
-

Other creditors
910,161
882,153
61,862
21,862

Accruals and deferred income
848,101
56,749
5,742
4,960

4,393,811
3,259,563
74,448
27,767



18.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
26,693
27,181

26,693
27,181



19.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Other loans
16,104
16,399


16,104
16,399

Amounts falling due 1-2 years

Other loans
26,692
27,181


26,692
27,181



42,796
43,580


Page 31

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

20.


Deferred taxation


Group



2024


£






At beginning of year
(15,334)



At end of year
(15,334)

Company


2024






At end of year
-
The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
(15,334)
(15,334)

(15,334)
(15,334)


21.


Provisions


Group



Provisions

£





At 1 July 2023
8,970


Charged to profit or loss
34,462



At 30 June 2024
43,432

Page 32

 
EVENT MERCHANDISING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



166 (2023 - 166) Ordinary shares shares of £1.00 each
166
166



23.


Pension commitments

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 £21,954 (2023 - £30,738). Contributions totalling £2,808 (2023 - £4,131) were payable to the fund at the balance sheet date and are included in creditors.


24.


Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


25.


Controlling party

The ultimate controlling parties are the directors P S Goldsmith and J M Goldsmith
The registered office address of Event Merchandising Holdings Limited is Unit 11, The Edge, Humber Road, London, NW2 6EW

 
Page 33