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Registration number: 05042667

Emmiera Group Ltd
Annual Report and Financial Statements
for the Year Ended 31 March 2025

Emmiera Group Ltd

Contents

Company Information | 1
Strategic Report | 2 to 4
Director's Report | 5
Statement of Director's Responsibilities | 6
Independent Auditor's Report | 7 to 10
Profit and Loss Account and Statement of Retained Earnings | 11
Balance Sheet | 12
Statement of Changes in Equity | 13
Statement of Cash Flows | 14
Notes to the Financial Statements | 15 to 26

Emmiera Group Ltd

Company Information

Director | Mr J Lane

Registered office | Unit 8 Waterfront Business Park Brierley Hill West Midlands DY5 1LX

Auditors | Jordan & Company Knighton House 62 Hagley Road Stourbridge West Midlands DY8 1QD

Emmiera Group Ltd

Strategic Report for the Year Ended 31 March 2025

The director presents his strategic report for the year ended 31 March 2025.

Principal Activity

Emmiera Group Ltd is a specialist service provider to the furniture retail, manufacturing, and insurance sectors. Our core business focuses on the cost-effective and sustainable on-site restoration of furniture affected by delivery damage, manufacturing defects, accidental damage and wear and tear. By avoiding unnecessary replacements, we help our partners reduce costs while enhancing customer satisfaction across the supply chain.
In addition to our B2B in-home repair services, we support the restaurant and hospitality industries through tailored restoration solutions for high-use environments. We also provide property repair services for damages incurred during the delivery and installation of furniture.

Fair review of the business

For the year ended 31 March 2025, Emmiera Group delivered a strong financial performance:
Turnover of £16,085,409 (2024: £17,509,893), was in line with management expectations.
Gross profit margin grew by 2% to 43% thanks to the relentless focus upon operational efficiency.
Net profit before taxation amounted to £1,514,946 (2024: £1,589,806).
These results reflect a well-managed year in which core profitability was maintained while strong foundations were laid for future growth and operational transformation.
Despite continued economic uncertainty driven by a range of geopolitical factors, we observed promising market signals. Domestically, inflation began to stabilise, interest rates peaked, and a number of national retailers initiated both new store openings and extensive refurbishment programmes. These developments, especially outside of peak trading periods, indicate renewed growth in furniture sales, presenting opportunities for increased demand across our service lines which are directly related to the volume of furniture sales.
Our sustainable, value-driven repair model is well positioned to capitalise on this momentum. We are actively forging new strategic partnerships in our core in-home repair sector and have re-entered the commercial reupholstery market with several nationally recognised brands in the fast-food and hospitality industries.
Our recent investments in technology are set to enhance appointment availability, reduce lead times, and strengthen performance across repair quality and customer satisfaction—as evidenced by improvements in our Net Promoter Score (NPS). We remain committed to setting the standard as the industry’s leading service provider.

Principal risks and uncertainties

We adopted a proactive approach to risk management, maintaining an up-to-date risk register to monitor and mitigate emerging threats. Significant investment has been made in enhancing our cybersecurity posture, including ongoing IT and security training to ensure our workforce remains informed and vigilant.
Financial risks are closely monitored and mitigated through well-established internal controls. Governance of all core business activities, including financial oversight, is embedded within our monthly board agenda, ensuring transparency, accountability, and strategic alignment.

Emmiera Group Ltd

Strategic Report for the Year Ended 31 March 2025

Research and Development

Emmiera continues to invest in innovation that drives operational efficiency across all departments. In addition to enhancements to our core systems, we are actively designing and prototyping bespoke tools and apparatus that will elevate our service offerings and differentiate us in the marketplace.

Employee Engagement

Employee Engagement - Our Vision, Mission & Values
At Emmiera Group, we are proud to share a clear purpose that unites and drives us forward:
Our Vision - To be the best repair company.
Our Mission - To repair furniture to the highest quality on the first visit.
We focus on thoroughly identifying issues and taking the necessary steps to resolve them efficiently. By investing time before we arrive, this ensures we save time, protect your money, and reduce waste to safeguard the planet.
Our Values
People First - We care for and support each other and our customers.
Clear Communication - We communicate honestly and transparently.
Top Quality - We deliver work we’re proud of, every time.
Integrity - We do the right thing, always.
Consistency - We are reliable and dependable in all we do.
Innovation - We continuously improve and embrace better ways of working.

Emmiera Group Ltd

Strategic Report for the Year Ended 31 March 2025

Strategy and Future Developments

We are firmly committed to enhancing the customer journey for both our clients and their end customers. Through continuous auditing of our processes and automation workflows, we aim to deliver exceptional service quality while providing outstanding value.
Our newly developed Field Service Management (FSM) platform supports a re-engineered, end-to-end operational model. Starting with comprehensive triage, jobs are now intelligently allocated and set up for success. This results in better route optimisation, increased appointment availability, and improved customer communication.
We are also standardising on-site visit reports to ensure clarity and consistency, while upgrading the functionality of the Emmiera Client Portal to enhance the client experience. These initiatives align with our mission and values, reinforcing our position as the industry's leading furniture repair provider, known for delivering a seamless, high-quality service all the time.

Approved and authorised by the director on 30 June 2025

......................................... Mr J Lane Company secretary and director

Emmiera Group Ltd

Director's Report for the Year Ended 31 March 2025

The director presents his report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

Mr J Lane - Company secretary and director

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Reappointment of auditors

The auditors Jordan & Company are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Approved and authorised by the director on 30 June 2025

......................................... Mr J Lane Company secretary and director

Emmiera Group Ltd

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Emmiera Group Ltd

Independent Auditor's Report to the Members of Emmiera Group Ltd

Opinion

We have audited the financial statements of Emmiera Group Ltd (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

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.

Conclusions relating to going concern

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.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

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

Other information

The director 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.

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.

Emmiera Group Ltd

Independent Auditor's Report to the Members of Emmiera Group Ltd

Opinion on other matter prescribed by the Companies Act 2006

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

• | the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

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 Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of director's remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities [set out on page 6], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Emmiera Group Ltd

Independent Auditor's Report to the Members of Emmiera Group Ltd

• I ensured that the engagement team collectively had the appropriate competence, capabilities and
skills to identify or recognise non-compliance with applicable laws and regulations;
• I identified the laws and regulations applicable to the company through discussions with director
and other management, and from my commercial knowledge and experience;
• I focused on specific laws and regulations which were considered to have a direct material effect
on the financial statements or the operations of the company, including the Companies Act 2006,
taxation legislation, data protection, employment and health and safety legislation;
• I assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management; and
• Identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.
As part of an audit in accordance with ISAs (UK), I exercise professional judgement and maintain
professional scepticism throughout the audit. I also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control procedures.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the company's ability to continue as a going
concern. If I conclude that a material uncertainty exists, I am required to draw attention in my
auditor's report to the related disclosures in the financial statements or, if such disclosures are
inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to
the date of my auditor's report. However, future events or conditions may cause the company to
cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
I communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that I identify during the audit.

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

Emmiera Group Ltd

Independent Auditor's Report to the Members of Emmiera Group Ltd

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.

......................................
M A Jordan FCA (Senior Statutory Auditor)
For and on behalf of Jordan & Company, Statutory Auditor
Knighton House
62 Hagley Road
Stourbridge
West Midlands
DY8 1QD

30 June 2025

Emmiera Group Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 16,085,409 | 17,509,893
Cost of sales |  | (9,193,532) | (10,343,494)
Gross profit |  | 6,891,877 | 7,166,399
Administrative expenses |  | (5,310,332) | (5,501,480)
Operating profit | 5 | 1,581,545 | 1,664,919
Interest payable and similar charges | 6 | (66,599) | (75,113)
|  | (66,599) | (75,113)
Profit before tax |  | 1,514,946 | 1,589,806
Taxation | 10 | (378,119) | (286,122)
Profit for the financial year |  | 1,136,827 | 1,303,684
Retained earnings brought forward |  | 4,619,900 | 4,035,216
Dividends paid |  | (700,000) | (719,000)
Retained earnings carried forward |  | 5,056,727 | 4,619,900

Emmiera Group Ltd

(Registration number: 05042667)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 11 | 73,800 | -
Tangible assets | 12 | 2,616,917 | 2,568,009
|  | 2,690,717 | 2,568,009
Current assets |  |  |
Stocks | 13 | 178,298 | 182,948
Debtors | 14 | 4,270,509 | 6,771,129
Cash at bank and in hand |  | 1,381,428 | 1,912,319
|  | 5,830,235 | 8,866,396
Creditors: Amounts falling due within one year | 16 | (2,786,781) | (6,219,783)
Net current assets |  | 3,043,454 | 2,646,613
Total assets less current liabilities |  | 5,734,171 | 5,214,622
Creditors: Amounts falling due after more than one year | 16 | (677,344) | (592,576)
Provisions for liabilities |  | - | (2,046)
Net assets |  | 5,056,827 | 4,620,000
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Capital redemption reserve |  | 50 | 50
Retained earnings |  | 5,056,727 | 4,619,900
Shareholders' funds |  | 5,056,827 | 4,620,000

Approved and authorised by the director on 30 June 2025

......................................... Mr J Lane Company secretary and director

Emmiera Group Ltd

Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Capital redemption reserve £ | Retained earnings £ | Total £
At 1 April 2024 | 50 | 50 | 4,619,900 | 4,620,000
Profit for the year | - | - | 1,136,827 | 1,136,827
Dividends | - | - | (700,000) | (700,000)
At 31 March 2025 | 50 | 50 | 5,056,727 | 5,056,827

| Share capital £ | Capital redemption reserve £ | Retained earnings £ | Total £
At 1 April 2023 | 50 | 50 | 4,035,216 | 4,035,316
Profit for the year | - | - | 1,303,684 | 1,303,684
Dividends | - | - | (719,000) | (719,000)
At 31 March 2024 | 50 | 50 | 4,619,900 | 4,620,000

Emmiera Group Ltd

Statement of Cash Flows for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 1,136,827 | 1,303,684
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 124,852 | 112,671
Profit on disposal of tangible assets | 4 | (5,885) | (1,312)
Finance costs | 6 | 65,554 | 73,680
Corporation tax expense | 10 | 378,119 | 286,122
|  | 1,699,467 | 1,774,845
Working capital adjustments |  |  |
Decrease in stocks | 13 | 4,650 | 9,425
Decrease/(increase) in trade debtors | 14 | 2,572,630 | (404,789)
(Decrease)/increase in trade creditors | 16 | (3,189,708) | 829,311
Cash generated from operations |  | 1,087,039 | 2,208,792
Income taxes paid | 10 | (658,317) | (49,075)
Net cash flow from operating activities |  | 428,722 | 2,159,717
Cash flows from investing activities |  |  |
Acquisitions of tangible assets |  | (159,546) | (122,719)
Proceeds from sale of tangible assets |  | 16,271 | 47,249
Acquisition of intangible assets | 11 | (98,400) | -
Net cash flows from investing activities |  | (241,675) | (75,470)
Cash flows from financing activities |  |  |
Interest paid | 6 | (65,554) | (73,680)
Proceeds from bank borrowing draw downs |  | (29,910) | (358,272)
Payments to finance lease creditors |  | 77,526 | (7,469)
Dividends paid |  | (700,000) | (719,000)
Net cash flows from financing activities |  | (717,938) | (1,158,421)
Net (decrease)/increase in cash and cash equivalents |  | (530,891) | 925,826
Cash and cash equivalents at 1 April |  | 1,912,319 | 986,493
Cash and cash equivalents at 31 March |  | 1,381,428 | 1,912,319

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 8
Waterfront Business Park
Brierley Hill
West Midlands
DY5 1LX

These financial statements were authorised for issue by the director on 30 June 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The director has at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and meet its obligations as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Freehold property | 1% reducing balance
Leasehold property | Over period of lease
Leasehold improvements | 2% straight line
Motor vehicles | 25% reducing balance
Fixtures and fittings | 50% and 25% reducing balance

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Impairment of non-financial assets

Assets are reviewed for impairment if there is an indication that the carrying value of the asset may have been impaired. Where there are indicators of impairment of individual assets, the Company performs impairment tests based on fair value less costs to sell or a value in use calculation. Where an impairment review is required, the carrying value of the assets is measured against their value in use based on future estimated cash flows, discounted by the appropriate cost of capital, resulting from the use of those assets. Assets are grouped at the lowest level for which there is a separately identifiable cash flow (cash generating unit). An impairment loss is recognised for the amount at which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Software | 3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Sale of services | 16,085,409 | 17,509,893

4 | Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain on disposal of tangible assets | 5,885 | 1,312

5 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 100,252 | 112,671
Amortisation expense | 24,600 | -
Operating lease expense - plant, machinery and vehicles | 622,365 | 791,991
Profit on disposal of property, plant and equipment | (5,885) | (1,312)
Auditor's remuneration | 17,000 | 17,000

6 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on bank overdrafts and borrowings | 48,116 | 50,522
Interest on obligations under finance leases and hire purchase contracts | 17,438 | 9,056
Interest expense on other finance liabilities | - | 14,102
Foreign exchange gains | 1,045 | 1,433
| 66,599 | 75,113

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

7 | Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 6,461,212 | 6,661,211
Pension costs, defined contribution scheme | 105,669 | 120,241
| 6,566,881 | 6,781,452

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Production | 93 | 103
Administration and support | 81 | 82
| 174 | 185

8 | Director's remuneration

The director's remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 598,082 | 597,515

9 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 17,000 | 17,000

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

10 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 400,818 | 433,317
UK corporation tax adjustment to prior periods | (20,653) | (138,430)
| 380,165 | 294,887
Deferred taxation |  |
Arising from origination and reversal of timing differences | (2,046) | (8,765)
Tax expense in the income statement | 378,119 | 286,122

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 1,514,946 | 1,589,806
Corporation tax at standard rate | 378,737 | 397,451
Tax decrease from effect of capital allowances and depreciation | (2,046) | (2,203)
Effect of expense not deductible in determining taxable profit (tax loss) | 22,080 | 29,304
Tax decrease from effect of adjustment in research and development tax credit | (20,652) | (138,430)
Total tax charge | 378,119 | 286,122

Deferred tax

Deferred tax assets and liabilities

2024 | Asset £ | Liability £
Accelerated capital allowances | - | 2,046
| - | 2,046

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

11 | Intangible assets

| Software development costs £ | Total £
Cost or valuation
Additions | 98,400 | 98,400
At 31 March 2025 | 98,400 | 98,400
Amortisation
Amortisation charge | 24,600 | 24,600
At 31 March 2025 | 24,600 | 24,600
Carrying amount
At 31 March 2025 | 73,800 | 73,800

12 | Tangible assets

| Land and buildings £ | Long leasehold land and buildings £ | Fixtures and fittings £ | Motor vehicles £
Cost or valuation
At 1 April 2024 | 423,016 | 2,072,845 | 574,348 | 83,504
Additions | - | - | 27,046 | 132,500
Disposals | - | - | - | (33,524)
At 31 March 2025 | 423,016 | 2,072,845 | 601,394 | 182,480
Depreciation
At 1 April 2024 | 25,004 | 64,680 | 463,849 | 32,171
Charge for the year | 3,980 | 6,230 | 44,084 | 45,958
Eliminated on disposal | - | - | - | (23,138)
At 31 March 2025 | 28,984 | 70,910 | 507,933 | 54,991
Carrying amount
At 31 March 2025 | 394,032 | 2,001,935 | 93,461 | 127,489
At 31 March 2024 | 398,012 | 2,008,165 | 110,499 | 51,333

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

| Total £
Cost or valuation
At 1 April 2024 | 3,153,713
Additions | 159,546
Disposals | (33,524)
At 31 March 2025 | 3,279,735
Depreciation
At 1 April 2024 | 585,704
Charge for the year | 100,252
Eliminated on disposal | (23,138)
At 31 March 2025 | 662,818
Carrying amount
At 31 March 2025 | 2,616,917
At 31 March 2024 | 2,568,009

13 | Stocks

| 2025 £ | 2024 £
Other inventories | 178,298 | 182,948

14 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 2,297,102 | 4,440,466
Other debtors |  | 1,585,925 | 1,941,204
Prepayments |  | 315,472 | 389,459
Corporation tax | 10 | 72,010 | -
|  | 4,270,509 | 6,771,129

15 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash on hand | 48 | 267
Cash at bank | 107,330 | 345,768
Short-term deposits | 1,274,050 | 1,566,284
| 1,381,428 | 1,912,319

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

16 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 19 | 52,524 | 89,676
Trade creditors |  | 1,330,047 | 4,316,656
Social security and other taxes |  | 579,427 | 465,165
Outstanding defined contribution pension costs |  | 42,901 | 39,684
Other payables |  | 421,084 | 385,643
Accruals |  | 360,798 | 716,817
Corporation tax liability | 10 | - | 206,142
|  | 2,786,781 | 6,219,783
Due after one year |  |  |
Loans and borrowings | 19 | 677,344 | 592,576

17 | Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £105,669 (2024 - £120,241).
Contributions totalling £42,901 (2024 - £39,684) were payable to the scheme at the end of the year and are included in creditors.

18 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share capital of £1 each | 50 | 50 | 50 | 50

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

19 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 551,798 | 556,708
Hire purchase contracts | 125,546 | 35,868
| 677,344 | 592,576

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 35,000 | 60,000
Hire purchase contracts | 17,524 | 29,676
| 52,524 | 89,676

Barclays Bank PLC have registered fixed and floating charges over all property and undertakings of the company in respect of current and future debt with them. Obligations under finance leases are secured on the assets held on the related finance agreements.

20 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 168,674 | 195,261
Later than one year and not later than five years | 211,141 | 347,869
Later than five years | 70,308 | 101,556
| 450,123 | 644,686

Emmiera Group Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

21 | Related party transactions

Transactions with the director

2025 | At 1 April 2024 £ | At 31 March 2025 £
Mr J Lane
| 699,000 | 699,000

2024 | At 1 April 2023 £ | At 31 March 2024 £
Mr J Lane
| 699,000 | 699,000

Loans to related parties

2025 | Other related parties £ | Total £
At start of period | 893,371 | 893,371
Repaid | (142,587) | (142,587)
At end of period | 750,784 | 750,784

2024 | Other related parties £ | Total £
At start of period | 1,004,959 | 1,004,959
Repaid | (111,588) | (111,588)
At end of period | 893,371 | 893,371

Terms of loans to related parties

The loan outstanding from Lane Property & Assets Ltd is a company in which Mr Lane is a director and 100% shareholder. The loan is unsecured, interest free and repayable on demand.