Company Registration No. 03137097 (England and Wales)
PARTYLITE U.K., LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
PARTYLITE U.K., LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
PARTYLITE U.K., LTD
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
518
Current assets
Debtors
5
1,154,548
840,393
Cash at bank and in hand
517,737
738,060
1,672,285
1,578,453
Creditors: amounts falling due within one year
6
(457,492)
(391,574)
Net current assets
1,214,793
1,186,879
Net assets
1,214,793
1,187,397
Capital and reserves
Called up share capital
175,002
175,002
Profit and loss reserves
1,039,791
1,012,395
Total equity
1,214,793
1,187,397

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 October 2025 and are signed on its behalf by:
R Tellez
Director
Company registration number 03137097 (England and Wales)
PARTYLITE U.K., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Partylite U.K., Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial position of the Company is shown in the statement of Financial Position. The success of the Company is dependent on trading performance of the Parent Company. The Directors have received confirmation from the Parent Company that it will provide financial support as is necessary to enable to Company to meet its liabilities as they fall due for a period of at least 12 months from the date of signing these financial statements.

The Directors have considered the forecasts and projections of the Parent Company, PartyLite Lite SA. taking into account of reasonably possible changes in trading performance. Based on the letter of support and the explanations received from the Director of Parent Company, the Directors have prepared these financial statements on the going concern basis.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company 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 or other sales taxes. A 30 day return guarantee is provided for all products. When a gift certificate is purchased or issued by the company, recognised of revenue does not happen until the gift certificate is redeemed.

The company estimates that the value of unredeemed credit which will not be redeemed is trivial, and consequently no amounts are recognised in respect of estimated breakage.

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 company has transferred the significant risks and rewards of ownership to the buyer;

- The amount of revenue can be measured reliably;

- It is probable that the company 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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

PARTYLITE U.K., LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
4 years straight line
Computers
3 years straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held on call with banks.

1.6
Financial instruments
Basic financial assets

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transactions costs) and subsequently held at amortised cost, less any impairment.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PARTYLITE U.K., LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised as a liability which is accrued at the statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company operates a defined contribution pension scheme which requires contributions to be made to a separately administrated fund. The assets of the scheme are held separately from those of the company. The amount charged to the statement of comprehensive income in respect of the pension costs and other post-retirement benefits is the contributions payable to the scheme in respect of the accounting period. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the statement of financial position.

1.11
Foreign exchange

Items included in the financial statements are measured using the currency of the primary economic environment in which the entity operates ("the functional currency"). The financial statements are presented in GBP, which is the company's functional and presentation currency.

Foreign currency transactions are translated into the entity's functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognised in the statement of comprehensive income.

PARTYLITE U.K., LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
2
Judgements 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.

The directors have determined whether there are any indicators of impairment of debtor amounts due from group companies. Factors taken into consideration in reaching a decision included previous history of repayment, review of cash balances held by group companies and general enquiry of group management.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
7
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 February 2024 and 28 February 2025
9,692
Depreciation and impairment
At 29 February 2024
9,174
Depreciation charged in the year
518
At 28 February 2025
9,692
Carrying amount
At 28 February 2025
-
0
At 28 February 2024
518
PARTYLITE U.K., LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
14,707
12,156
Corporation tax recoverable
354
-
0
Amounts owed by group undertakings
1,126,753
801,152
Other debtors
11,108
25,459
1,152,922
838,767
Deferred tax asset
1,626
1,626
1,154,548
840,393

Amounts due from group undertakings are unsecured, interest free and repayable on demand.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
226,683
105,504
Amounts owed to group undertakings
136,860
75,740
Corporation tax
-
0
6,577
Other taxation and social security
8,938
58,231
Other creditors
85,011
145,522
457,492
391,574

Amounts due to group undertakings are unsecured, interest free and repayable on demand.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Shaun Roberts
Statutory Auditor:
Affinia (Colchester)
Date of audit report:
27 October 2025
8
Parent company

The immediate parent undertaking is PartyLite Trading SA., Switzerland. The ultimate holding company is Centre Lane Partners III, LP with a 97.7% holding.

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