Dowlis Inspired Branding Limited

	Page
Strategic Report	1—2
Directors' Report	3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—18

The directors present their strategic report for the period ended 31 December 2024.

Principal Activity

The company's principal activity continues to be that of the supply of promotional merchandise.

Directors’ interests

The Company is a wholly owned subsidiary undertaking of Dowlis Group Global Solutions Limited a company registered in England and Wales. Dowlis Group Global Solutions limited is controlled by My K C Doherty.

Review of the Business

The global economy has suffered a number of shocks in recent years which have impacted economic confidence and inevitably have impacted the promotional merchandising industry more than many others.

Despite these challenges, we have achieved sales for the 18 months to December 2024 of £16.6m and delivered a gross profit of £5.2m. Our gross profit margin increased to 31% for the financial year, which was an increase on the 30% achieved in the previous year.

We delivered EBITDA before exceptional costs of £851k in the 18 month period compared to £1.3m in the previous year. The impact of the £436k exceptional charges set out in note 12 and depreciation of £26k reduced our reported operating profit to £389k (2023: £1,221k)

We incurred a variety of exceptional and one-off costs in this and the previous year, due in part to the impact of the economic challenges referred to above. As set out in note 4 we incurred £130k (£2023: £nil) in respect of redundancy and restructuring costs. We also had a back dating of our rent review which had been postponed during the COVID period amounting to £106k that related to previous years as well as the write off of some historic purchase ledger balances of £135k. We were also hit with some IT and IT related training costs in the year of £12k (2023: £111k) as we amended many of our sales platforms to meet the challenges of the post-COVID working practices of our client base.

Whilst global economic confidence remains volatile, we delivered a strong performance in the year and have enhanced our sales channels which ensure we remain confident moving into 2025.

Financial Key performance indicators (KPIs)

The company’s performance is measured on a number of key performance indicators. These include profit margin achieved by each business sector and various statistics relating to efficiency and customer service.

The principal financial KPIs are as follows:

	2024	2023
Gross margin	31.6%	30.0%
Net margin (before goodwill amortisation and exceptional items)	5.0%	11.4%
ROCE (before goodwill amortisation and exceptional items)	8.6%	26.8%
Debtor days	57.2 days	44.3 days

Gross margin is gross profit calculated as a percentage of turnover in the accounts. The improvement in margin can be due to a number of factors, including the client mix and project types, but also it is due to changes made in addressing the EU market.

Net margin is the profit before interest (after adding back the amortisation of intangible assets) calculated as a percentage of turnover in the accounts.

ROCE is the return on capital employed. It is the net profit calculated above shown as a percentage of net assets less the intangible assets (as the amortisation cost of the intangible assets is also excluded). ROCE has reduced in part due to the increase in net assets as our profits build, but also due to a reduction in annual sales performance compared to 2023 which is slightly offset by improved margins.

Debtor Days are calculated as the trade debtors (less value added tax) divided by the turnover of the company over the last quarter of the year and multiplied by the number of days in the year. Our debtor day calculation of 58.9 days is an increase and over the optimal target of 45, however agreed terms taken by some of our larger clients have driven this figure upwards and the increase is the impact of sales mix in Q4.

Principal Risks and Uncertainties

Competitive pressure in the UK is a risk for the Company that could result in losing sales and market share to its competitors. The Company manages this risk by providing a quality service to its customers.

Although financial risks are considered to be minimal at present, future interest rate, liquidity and foreign currency risks could arise and the Board will review existing policies in the coming period.

The current level global economic uncertainty following from the COVID-19 pandemic, and more recently the conflict in Ukraine continue to increase commercial risk that the Directors continue to monitor and seek to mitigate.

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Dowlis Inspired Branding Limited

Strategic Report (continued)

For the Period 1 July 2023 to 31 December 2024

Future Developments

There are a number of initiatives under way to grow profitable revenue from the business; we have a number of new client opportunities to explore and we continue to innovate ways to serve customers in the most efficient way that will reduce their costs and improve their overall buying experience.

On behalf of the board

R A Sowerby

Director

4 December 2025

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Dowlis Inspired Branding Limited

Company No. 01179852

Directors' Report For the Period 1 July 2023 to 31 December 2024

Directors' Report

The directors present their report and the financial statements for the period ended 31 December 2024.

Directors

The directors who held office during the period were as follows:

R A Sowerby
D P Lynn	Resigned	12/11/2024
K C Doherty

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, KRW Accountants Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

R A Sowerby

Director

4 December 2025

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Independent Auditor's Report

to the Members of

Dowlis Inspired Branding Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Dowlis Inspired Branding Limited for the period ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) for the period 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's 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 directors' 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on Other Matters 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 Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the 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 or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

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Independent Auditor's Report (continued)

to the Members of

Dowlis Inspired Branding Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and in the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial misstatements, whether due to fraud of error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis of opinion. This includes consideration of the risk of acts were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud we designed procedure which included:

Enquiry of management and those charged with governance around actual and potential litigation claims as well as suspected and alleged fraud;

Reviewing minutes of meetings of those charged with governance;

Assessing the compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations;

Performing audit work over the risks of management bias and 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 indicators of potential bias.

Because of the inherent limitation of an audit, there is a risk that we will not detect irregularities, including and leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with laws and regulations is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting in error, as fraud may involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Dowlis Inspired Branding Limited

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 that 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.

K R Witchell FCA, FCCA, CTA (Senior Statutory Auditor)

for and on behalf of KRW Accountants Ltd , Statutory Auditor

4 December 2025

KRW Accountants Ltd

Henge Barn Pury Hill Business Park

Alderton Road

Towcester

Northamptonshire

NN12 7LS

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Dowlis Inspired Branding Limited

Profit and Loss Account

For the Period 1 July 2023 to 31 December 2024

Profit and Loss Account

		31 December 2024	30 June 2023
	Notes	£	£
TURNOVER	4	16,563,406	12,034,273
Cost of sales		(11,331,015 )	(8,151,060 )

GROSS PROFIT		5,232,391	3,883,213

Administrative expenses		(4,842,396 )	(2,662,032 )

OPERATING PROFIT	5	389,995	1,221,181
Interest payable and similar charges	10	(290,306 )	(112,114 )

PROFIT BEFORE TAXATION		99,689	1,109,067
Tax on Profit	11	-	(207,495 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD		99,689	901,572

The notes on pages 11 to 18 form part of these financial statements.

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Dowlis Inspired Branding Limited

Statement of Comprehensive Income

For the Period 1 July 2023 to 31 December 2024

Statement of Comprehensive Income

	31 December 2024	30 June 2023
	£	£
PROFIT FOR THE FINANCIAL PERIOD	99,689	901,572
OTHER COMPREHENSIVE INCOME FOR THE PERIOD	-	-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	99,689	901,572

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Dowlis Inspired Branding Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 01179852

		31 December 2024		30 June 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		15,757		36,586
Investments	14		1		1

			15,758		36,587
CURRENT ASSETS
Stocks	15	1,080,409		1,710,961
Debtors	16	7,794,440		7,500,792
Cash at bank and in hand		182,569		139,942

		9,057,418		9,351,695
Creditors: Amounts Falling Due Within One Year	17	(4,023,675 )		(4,438,470 )

NET CURRENT ASSETS (LIABILITIES)			5,033,743		4,913,225

TOTAL ASSETS LESS CURRENT LIABILITIES			5,049,501		4,949,812

NET ASSETS			5,049,501		4,949,812

CAPITAL AND RESERVES
Called up share capital	19		97		97
Capital redemption reserve			3		3
Profit and Loss Account			5,049,401		4,949,712

SHAREHOLDERS' FUNDS			5,049,501		4,949,812

On behalf of the board

R A Sowerby

Director

4 December 2025

The notes on pages 11 to 18 form part of these financial statements.

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Dowlis Inspired Branding Limited

Statement of Changes in Equity

For the Period 1 July 2023 to 31 December 2024

Statement of Changes in Equity

	Share Capital	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£
As at 1 July 2022	97	3	4,048,140	4,048,240
Profit for the year and total comprehensive income	-	-	901,572	901,572

As at 30 June 2023 and 1 July 2023	97	3	4,949,712	4,949,812


Profit for the period and total comprehensive income	-	-	99,689	99,689

As at 31 December 2024	97	3	5,049,401	5,049,501

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Dowlis Inspired Branding Limited

Notes to the Financial Statements

For the Period 1 July 2023 to 31 December 2024

Notes to the Financial Statements

1. General Information

Dowlis Inspired Branding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01179852 . The registered office is Unit 2 Woking 8, Forsyth Road, Woking, GU21 5SB.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.3. Exemption From Preparing Consolidated Financial Statements

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

3.4. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

3.5. Significant judgements and estimations

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily appparent from other sources. The estimates and assoicated 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.

3.6. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

The Company recognises turnover once delivery of goods to the customer has been completed in mosts cases. Where the company stores client funded stock, the turnover is recognised on the delivery of the goods to the storage facility. Where payment is received upfront, the sale is deferred until the goods are delivered.

3.7. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between fair value of consideration paid for an acquired entity and the aggregate of the fair value of that's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

3.8. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	over the remaining period of the lease
Plant & Machinery	5 to 10 years
Fixtures & Fittings	3 to 10 years

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

3.9. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.

Dividends on equity securities are recognised in income when receivable.

3.10. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3.11. Stocks and Work in Progress

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.

The Company arranges storage and insurance for customer financed stock. All charges for this are recharged on to the customer and this is not recognised as stock in the accounts.

3.12. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.13. Financial Instruments

Classification

The company holds the following financial instruments:

Short term trade and other debtors and creditors;

Bank loans

Cash and bank balances

All financial instruments are classified as basic.

Recognition and measurement

The Group has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the Group becomes party to the contractul provisions of the instrument and derecognised when in the case of assets, the contractual right to cash flow from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the Group's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transactions costs, and are subsequently carried at the undiscounted amount of cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transcaction price, including costs, and are subsequently carried at amortised cost using the effective interest method.

3.14. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

3.15. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3.16. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

4. Turnover

Analysis of turnover by geographical market is as follows:

	31 December 2024	30 June 2023
	£	£
United Kingdom	15,990,750	11,662,501

	15,990,750	11,662,501

5. Operating Profit

The operating profit is stated after charging:

	31 December 2024	30 June 2023
	£	£
Bad debts	30,415	(11,291)
Depreciation of tangible fixed assets	26,439	22,885

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the period was as follows:

	31 December 2024	30 June 2023
	£	£
Audit Services
Audit of the company's financial statements	32,042	27,450

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	31 December 2024	30 June 2023
	£	£
Wages and salaries	2,060,669	1,185,195
Social security costs	294,503	198,194
Other pension costs	70,640	49,391

	2,425,812	1,432,780

8. Average Number of Employees

Average number of employees, including directors, during the period was: 42 (2023: 40)

9. Directors' remuneration

	31 December 2024	30 June 2023
	£	£
Emoluments	484,458	381,700
Company contributions to money purchase pension schemes	14,173	11,427

	498,631	393,127

10. Interest Payable and Similar Charges

	31 December 2024	30 June 2023
	£	£
Factoring charges	181,889	78,439
Foreign exchange charges	108,417	33,675

	290,306	112,114

11. Tax on Profit

	Tax Rate		31 December 2024	30 June 2023
The tax charge on the profit for the period was as follows:
	31 December 2024	30 June 2023	£	£
Current tax
UK Corporation Tax	25.0%	20.5%	-	207,495


Total tax charge for the period			-	207,495


The actual charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
			31 December 2024	30 June 2023
			£	£
Profit before tax			99,689	1,109,067

Tax on profit at 25% (UK standard rate)			24,922	227,359

...CONTINUED

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

Goodwill/depreciation not allowed for tax	6,610	2,492
Expenses not deductible for tax purposes	6,067	80
Capital allowances	(3,252 )	-
Group relief	(34,347 )	(22,436 )

Total tax charge for the period	-	207,495

12. Intangible Assets

	Goodwill
	£
Cost
As at 1 July 2023	1,068,982

As at 31 December 2024	1,068,982

Amortisation
As at 1 July 2023	1,068,982

As at 31 December 2024	1,068,982

Net Book Value
As at 31 December 2024	-

As at 1 July 2023	-

13. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 July 2023	974,791
Additions	5,610
Disposals	(498,257 )

As at 31 December 2024	482,144

Depreciation
As at 1 July 2023	938,205
Provided during the period	26,439
Disposals	(498,257 )

As at 31 December 2024	466,387

Net Book Value
As at 31 December 2024	15,757

As at 1 July 2023	36,586

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

14. Investments

	Subsidiaries
	£
Cost
As at 1 July 2023	1

As at 31 December 2024	1

Provision
As at 1 July 2023	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1

As at 1 July 2023	1

Subsidiaries

Details of the company's subsidiaries as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
The Bentley Collection Limited	Unit 2 Woking 8 Forsyth Road Woking Surrey GU21 5SB	Ordinary shares	100.00%	-
Dowlis Inspired Branding Inc	110 Wall Street New York NY10005 USA	Stock	100.00%	-

15. Stocks

	31 December 2024	30 June 2023
	£	£
Stock	1,146,260	1,776,812
Stock provision	(65,851 )	(65,851 )

	1,080,409	1,710,961

16. Debtors

	31 December 2024	30 June 2023
	£	£
Due within one year
Trade debtors	1,809,961	1,700,273
Amounts owed by group undertakings	5,826,993	5,722,182
Other debtors	157,486	78,337

	7,794,440	7,500,792

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

17. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 June 2023
	£	£
Trade creditors	1,869,282	2,570,056
Payments on account	584,683	1,001,714
Amounts owed to group undertakings	594,533	-
Other creditors	97,805	16,611
Corporation tax	19,911	207,495
Taxation and social security	26,246	105,912
Accruals and deferred income	831,215	536,682

	4,023,675	4,438,470

Of the creditors the following amounts are secured.

	31 December 2024		30 June 2023
	£		£
Other loans	584,683		1,001,714

Invoice discounting finance is secured by a fixed and floating charge over the assets of the company, and also by cross guarantees with all trading entities in the Dowlis Global Group Solutions Limited group of companies.

19. Share Capital

	31 December 2024	30 June 2023
	£	£
Allotted, Called up and fully paid	97	97

20. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 December 2024	30 June 2023
	£	£
Not later than one year	174,581	168,009
Later than one year and not later than five years	307,140	581,667

	481,721	749,676

21. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the period the charge to the profit and loss account in respect of defined contribution schemes was £70,640 (2023: £49,391).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

22. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

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Dowlis Inspired Branding Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

23. Controlling Parties

The company's immediate parent undertaking is Stridage Holdings Limited .

The ultimate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is Dowlis Group Global Solutions Limited (incorporated in England & Wales). Its registered office is Unit 2 Woking 8 Forsyth Road Woking Surrey GU21 5SB .

Copies of the group accounts may be obtained from the company's registered office.

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