REGISTERED NUMBER: 03391717 (England and Wales)

ESPRIT SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P I Burke

Mr T R Dubberley

Mr R R D Wheeler

Mr S Eden

Mr M P Nelson

SECRETARY:

Miss V A Beckett

REGISTERED OFFICE:

Esprit House

Spon Lane

West Bromwich

West Midlands

B70 6AA

REGISTERED NUMBER:

03391717 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

FIXED ASSETS

Tangible assets

4

81,905

110,656

CURRENT ASSETS

Stocks

16,077

27,309

Debtors

5

85,752

220,829

Cash at bank

243,963

255,382

345,792

503,520

CREDITORS

Amounts falling due within one year

6

343,172

497,838

NET CURRENT ASSETS

2,620

5,682

TOTAL ASSETS LESS CURRENT LIABILITIES

84,525

116,338

CREDITORS

Amounts falling due after more than one year

7

(16,333

)

(32,667

)

PROVISIONS FOR LIABILITIES

(5,800

)

(21,800

)

NET ASSETS

62,392

61,871

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

62,390

61,869

SHAREHOLDERS' FUNDS

62,392

61,871

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

1.	STATUTORY INFORMATION

Esprit Services 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 is nett of any sales adjustments such as payments on account and sales invoice reserves.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

172,776

Disposals

(12,000

)

At 28 February 2025

160,776

DEPRECIATION

At 1 March 2024

62,120

Charge for year

27,248

Eliminated on disposal

(10,497

)

At 28 February 2025

78,871

NET BOOK VALUE

At 28 February 2025

81,905

At 29 February 2024

110,656

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2024

140,250

Transfer to ownership

(66,750

)

At 28 February 2025

73,500

DEPRECIATION

At 1 March 2024

36,135

Charge for year

18,249

Transfer to ownership

(35,632

)

At 28 February 2025

18,752

NET BOOK VALUE

At 28 February 2025

54,748

At 29 February 2024

104,115

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

630

919

Amounts owed by group undertakings

83,970

174,991

Other debtors

1,152

44,919

85,752

220,829

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

16,333

19,349

Payments on account

41,510

-

Trade creditors

31,015

262,515

Amounts owed to group undertakings

98,000

51,000

Taxation and social security

40,293

47,330

Other creditors

116,021

117,644

343,172

497,838

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

16,333

32,667

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

9.	RELATED PARTY DISCLOSURES

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

Sale of goods

Equipment hire

2025

2024

2025

2024

£

£

£

£

Esprit Group UK Limited

-

-

36,500

35,280

Esprit UK Limited

1,322,451

1,376,608

-

-

Nason Foster Limited

-

5,206

-

-

1,322,451

1,381,814

36,500

35,280

Materials, labour and

admin costs recharged from

Dividends paid

2025

2024

2025

2024

£

£

£

£

Esprit Group UK Limited

-

-

98,000

51,000

Esprit UK Limited

120,000

120,000

-

-

120,000

120,000

98,000

51,000

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 to related parties

2025

2024

£

£

Esprit Group UK Limited

98,000

51,000

Esprit UK Limited

(83,970

)

(174,991

)

14,030

123,991

The company has given an intercompany cross guarantee in respects of the bank borrowings of Esprit Group UK Limited, Esprit UK 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.

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.