Registration number: 01317377

John Lewis of Hungerford Limited

Contents

John Lewis of Hungerford Limited

Company Information

John Lewis of Hungerford Limited

Directors' Report for the Year Ended 30 June 2025

The Directors present their report and the financial statements for the year ended 30 June 2025.

Directors of the Company

The Directors who held office during the year were as follows:

Ms Kiran Noonan

Mr Alan Charlton (resigned 17 February 2025)

The following Director was appointed after the year end:

Ms Sophie Randall (appointed 10 October 2025)

Principal activity

The principal activity of the Company is the manufacture of kitchen furniture.

Introduction

John Lewis of Hungerford is a leading UK provider of luxury kitchens, bedrooms and furniture for around the home. The Company designs, retails, manufactures, and installs its products and engages with UK customers in its showrooms across the South of England and remotely in their home, both digitally and through home consultations.

Manufacturing and administration are carried out from a purpose-built factory and offices at Wantage, Oxfordshire.

Fair review of the business

The financial year ended 30 June 2025 represented a year of progress for the Company, achieved despite continuing weakness in consumer confidence and challenging market conditions for high-ticket discretionary spending.

Turnover for the year was £7.8 million (FY24: £8.2 million), a modest reduction reflecting the planned consolidation of the showroom estate. The closure of three lower-performing showrooms reduced overheads and had only a limited impact on sales.

The focus during the year remained on improving profitability rather than driving volume. The reported loss was less than half that of FY24, with gross margin improving by around 2.5 percentage points. The margin gain resulted from the full-year impact of re-pricing, stabilisation in input costs, more disciplined procurement, and reduced discounting.

Although overall volumes were lower, the quality of business improved through sustained demand for multi-room and whole-home projects, together with growing B2B activity with interior designers, high-end developers, and architects.

Operating costs were reduced through showroom consolidation, selective headcount reductions, and tighter cost control, lowering the break-even point and improving operational resilience.

The Company’s digital-first marketing strategy continued to perform well, with more refined targeting and improved website conversion generating high-quality leads and supporting both retail and trade channels.

John Lewis of Hungerford Limited

Directors' Report for the Year Ended 30 June 2025

The trading environment remains difficult, with fragile consumer confidence and ongoing inflationary and interest rate pressures. Nevertheless, the Board believes the strengthened margin profile, leaner cost base, and sustained marketing performance, position the business well for a gradual recovery in demand as market conditions stabilise.

The Board remains focused on margin discipline, cash preservation, and high-quality order intake, while continuing to invest selectively in initiatives that enhance efficiency and support long-term growth.

Going concern

The Directors have reviewed detailed cash flow forecasts and considered a range of trading scenarios. The forecasts indicate that the Company has adequate financial resources to continue operations for at least 12 months from the date of approval of these financial statements. While the broader economic environment remains sensitive to interest rate movements and consumer confidence, the current trajectory indicates a recovery in the Company’s key markets. However, the forecasts are always sensitive to a potential reduction in consumer demand within the context of the wider geo-political environment. These factors represent a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. Further details are provided in note 2 of the accounts.

The Directors have identified mitigating actions, including cost reductions, marketing deferrals, and supplier payment flexibility, which are within management’s control. Accordingly, they consider the use of the going concern basis of preparation remains appropriate.

Disclosure of information to the auditors

Small companies provision statement

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:
 

John Lewis of Hungerford Limited

Statement of Directors' Responsibilities

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to:

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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

John Lewis of Hungerford Limited

Independent Auditor's Report to the
Members of John Lewis of Hungerford Limited

Opinion

We have audited the financial statements of John Lewis of Hungerford Limited (the 'Company') for the year ended 30 June 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, 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 FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.

Material uncertainty related to going concern

We draw attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £1,140,518 during the year ended 30 June 2025 and, as of that date, the company’s current liabilities exceeded its total assets by £2,085,536. As stated in Note 2, these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

John Lewis of Hungerford Limited

Independent Auditor's Report to the
Members of John Lewis of Hungerford Limited

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

John Lewis of Hungerford Limited

Independent Auditor's Report to the
Members of John Lewis of Hungerford Limited

Auditor 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 auditor’s 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 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 specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud are detailed below:

• Enquiry of management and those charged with governance around actual and potential litigation and claims;
• Enquiry of entity management in compliance functions to identify any instances of non-compliance with laws and regulations;
• Reviewing minutes of meetings of those charged with governance;
• Reviewing financial statement disclosures and testing to supporting document to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 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 auditor’s 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.

......................................
Benjamin Hayes BSc FCA (Senior Statutory Auditor)
For and on behalf of Wenn Townsend, Statutory Auditor
 30 St Giles'
Oxford
OX1 3LE

John Lewis of Hungerford Limited

Independent Auditor's Report to the
Members of John Lewis of Hungerford Limited

31 October 2025

John Lewis of Hungerford Limited

Profit and Loss Account for the Year Ended 30 June 2025

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

John Lewis of Hungerford Limited

(Registration number: 01317377)
Balance Sheet as at 30 June 2025

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by: