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REGISTERED NUMBER: 03179032 (England and Wales)

ESPRIT MIDLAND LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

ESPRIT MIDLAND LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 28 FEBRUARY 2025

| DIRECTORS: | Mr P I Burke

| Mr T R Dubberley

| Mr R R D Wheeler

| Mr S Eden

| SECRETARY: | Miss V A Beckett

| REGISTERED OFFICE: | Esprit House

| Spon Lane

| West Bromwich

| West Midlands

| B70 6AA

| REGISTERED NUMBER: | 03179032 (England and Wales)

| AUDITORS: | Folkes Worton LLP

| Chartered Accountants and Statutory Auditor

| 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

STATEMENT OF FINANCIAL POSITION

28 FEBRUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 488,931 |  | 93,393 |  |

CURRENT ASSETS

Stocks | 265 |  | 290 |  |

Debtors | 5 | 874,517 |  | 1,072,780 |  |

Cash at bank | 158,989 |  | 247,928 |  |

1,033,771 |  | 1,320,998 |  |

CREDITORS

Amounts falling due within one year | 6 | 596,745 |  | 551,722 |  |

NET CURRENT ASSETS | 437,026 |  | 769,276 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 925,957 |  | 862,669 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 63,112 |  | - |  |

NET ASSETS | 862,845 |  | 862,669 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 862,745 |  | 862,569 |  |

SHAREHOLDERS' FUNDS | 862,845 |  | 862,669 |  |

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2025 and were signed on its behalf by:

Mr T R Dubberley - Director

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1. | STATUTORY INFORMATION

| Esprit Midland 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net sales of goods/services, excluding value added tax

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Government grants

| Government grants are accounted for under the accrual model in which grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

| Stocks

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

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 17 (2024 - 18 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 March 2024 | 96,063 |  |

| Additions | 414,111 |  |

| At 28 February 2025 | 510,174 |  |

| DEPRECIATION

| At 1 March 2024 | 2,670 |  |

| Charge for year | 18,573 |  |

| At 28 February 2025 | 21,243 |  |

| NET BOOK VALUE

| At 28 February 2025 | 488,931 |  |

| At 29 February 2024 | 93,393 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 148,500 |  | - |  |

| Amounts owed by group undertakings | 724,100 |  | 1,069,000 |  |

| Other debtors | 1,917 |  | 3,780 |  |

874,517 |  | 1,072,780 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 222,960 |  | 236,635 |  |

| Amounts owed to group undertakings | 49,000 |  | 24,000 |  |

| Taxation and social security | 11,999 |  | 26,649 |  |

| Other creditors | 312,786 |  | 264,438 |  |

596,745 |  | 551,722 |  |

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other creditors | 63,112 |  | - |  |

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Nigel Meredith FCA (Senior Statutory Auditor)

| for and on behalf of Folkes Worton LLP

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

9. | RELATED PARTY DISCLOSURES

| During the year the company entered into the following transactions with related parties:

|  | Sale of goods |  |  | Purchase of goods and equipment hire |  |

|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |  | £ |  |  | £ |  |

| Esprit Group UK Limited |  | - |  |  | - |  |  | 60,000 |  |  | 57,960 |  |

| Esprit UK Limited |  | 1,902,000 |  |  | 1,635,000 |  |  | - |  |  | - |  |

| Nason Foster Limited |  | 200,000 |  |  | - |  |  | - |  |  | - |  |

| Esprit Services Limited - - |  | - |  | - |  |

|  | 2,102,000 |  |  | 1,635,000 |  |  | 60,000 |  |  | 57,960 |  |

|  | Dividends paid |  |  |

|  | 2025 |  |  | 2024 |  |  |

|  | £ |  |  | £ |  |  |

| Esprit Group UK Limited |  | 49,000 |  |  | 24,000 |  |

| Esprit UK Limited |  | - |  |  | - |  |

|  | 49,000 |  |  | 24,000 |  |  |

| Esprit UK Limited is a fellow subsidiary of Esprit Group UK Limited, the ultimate parent company. Nason Foster Limited is a company in which all three directors are also directors of, as well as having an interest in the issued share capital.

| The following amounts were outstanding at the reporting date:

|  | Amounts owed by related parties |  |

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Esprit Group UK Limited |  | (49,000 | ) |  | (24,000 | ) |

| Esprit UK Limited |  | 724,100 |  |  | 1,069,000 |  |

|  | 675,100 |  |  | 1,045,000 |  |

| The company has given an intercompany cross guarantee in respects of the bank borrowings of Esprit Group UK Limited, Esprit UK Limited, Esprit Services Limited, Nason Foster Limited and Nason Foster Holdings Limited, all of which amounted to £nil (2024: £nil) at the balance sheet date.

10. | SUBSEQUENT EVENTS

| Following the year end the ultimate parent, Esprit Group UK Limited, entered into an Employee Ownership Trust.

ESPRIT MIDLAND LIMITED (REGISTERED NUMBER: 03179032)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

11. | PARENT COMPANY

| The ultimate parent company is Esprit Group UK Limited.

| The ultimate controlling party is Mr T R Dubberley by virtue of his shareholdings in the ultimate parent company.

| The company's accounts are consolidated into the group accounts of Esprit Group UK Limited, which are available from Companies House.