| REGISTERED NUMBER: |
| ESPRIT MIDLAND LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net sales of goods/services, excluding value added tax |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 March 2024 |
| Additions |
| At 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 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 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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. |