Company No: 07236800 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2025		31.01.2024
		£		£
Fixed assets
Tangible assets	4	128,671		107,674
		128,671		107,674
Current assets
Stocks		599,759		382,685
Debtors	5	164,163		69,773
Cash at bank and in hand		172,826		53,649
		936,748		506,107
Creditors: amounts falling due within one year	6	( 639,347)		( 426,962)
Net current assets		297,401		79,145
Total assets less current liabilities		426,072		186,819
Creditors: amounts falling due after more than one year	7	( 265,992)		( 79,107)
Provision for liabilities		( 21,934)		( 16,925)
Net assets		138,146		90,787
Capital and reserves
Called-up share capital	8	1		1
Profit and loss account		138,145		90,786
Total shareholder's funds		138,146		90,787

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Emma Vowles Limited (registered number: 07236800) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

F W B Vowles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Emma Vowles Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is High Cross House, Dartington Hall, Totnes, TQ9 6ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

During the period the company changed its reporting period to 31 March 2025 to allign its reporting period with its parent company. Therefore, this reporting period covers from 1 February 2024 to 31 March 2025. The previous financial statements cover from 1 February 2023 to 31 January 2024. Therefore, the comparatives are not entirely comparable.

Change in accounting estimate

During the current period, the Company revised the estimated useful life of leasehold improvements. This has been amended from depreciated over the life of the lease to 5 years. Management believes the revised depreciation period provides a more accurate reflection of the pattern in which the economic benefits of these assets are expected to be consumed.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	20 % reducing balance
Vehicles	5 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 % reducing balance
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Period from 01.02.2024 to 31.03.2025		Year ended 31.01.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	67		50

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 February 2024	15,814		15,814
Disposals	( 720)		( 720)
At 31 March 2025	15,094		15,094
Accumulated amortisation
At 01 February 2024	15,814		15,814
Disposals	( 720)		( 720)
At 31 March 2025	15,094		15,094
Net book value
At 31 March 2025	0		0
At 31 January 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 February 2024	119,393		258		12,000		71,817		27,857		34,069		265,394
Additions	36,539		0		0		17,885		0		13,124		67,548
At 31 March 2025	155,932		258		12,000		89,702		27,857		47,193		332,942
Accumulated depreciation
At 01 February 2024	52,032		104		8,000		62,569		19,189		15,826		157,720
Charge for the financial period	28,257		35		2,800		5,499		1,965		7,995		46,551
At 31 March 2025	80,289		139		10,800		68,068		21,154		23,821		204,271
Net book value
At 31 March 2025	75,643		119		1,200		21,634		6,703		23,372		128,671
At 31 January 2024	67,361		154		4,000		9,248		8,668		18,243		107,674

5. Debtors

	31.03.2025		31.01.2024
	£		£
Prepayments	108,706		38,633
Other debtors	55,457		31,140
	164,163		69,773

6. Creditors: amounts falling due within one year

	31.03.2025		31.01.2024
	£		£
Bank loans (secured)	37,000		70,333
Trade creditors	227,213		91,825
Amounts owed to directors	69,585		69,585
Accruals	67,005		19,940
Taxation and social security	237,391		175,279
Other creditors	1,153		0
	639,347		426,962

The bank loans are secured by fixed and floating charges over the company's assets.

7. Creditors: amounts falling due after more than one year

	31.03.2025		31.01.2024
	£		£
Bank loans (secured)	16,250		63,417
Amounts owed to Group undertakings	249,742		15,690
	265,992		79,107

The bank loans are secured by fixed and floating charges over the company's assets.

8. Called-up share capital

	31.03.2025		31.01.2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.03.2025		31.01.2024
	£		£
within one year	325,033		271,142
between one and five years	735,433		804,258
after five years	111,667		10,792
Total future minimum lease payments under non-cancellable operating leases	1,172,133		1,086,192

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	31.03.2025		31.01.2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	3,724		2,748

10. Related party transactions

Transactions with the entity's directors

	31.03.2025		31.01.2024
	£		£
Amounts owed to director	69,585		69,585

During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.