REGISTERED NUMBER: 01617684 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

STUART PETERS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

8

Statement of Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

DIRECTORS:

K D Crump

J D Peters

S Peters

E Peters

SECRETARY:

E Peters

REGISTERED OFFICE:

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

REGISTERED NUMBER:

01617684 (England and Wales)

AUDITORS:

Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Our business is to supply fashionable, design driven knitwear, jersey wear, outerwear and sleepwear to blue chip UK high street retail customers. The success of the business is based on innovative design and the strength of our long-term relationships with both our customers and our suppliers.

The statement of comprehensive income is set out on page 12 and shows the profit for the year.

During the year under review, turnover was £95,277,696 (2024:£80,624,403) and profit before tax was £3,063,890 (2024:£3,361,922). Foreign assets revaluation gain was £138,520 (2024:£137,158).

The company has continued to maintain strong control over cost and working capital. During the year the company continued to make use of the vendor financing scheme's offered by a couple of our larger customers.

The directors are pleased with the performance of the company under the current economic conditions. The company has continued to be active in the management of its overheads.

The Board believe the continued focus on product quality and maintaining strong relationships with customers and suppliers will allow the company to take advantage of future opportunities as they arise whilst at the same time maintaining tight control over costs with the continuing economic uncertainty.

The directors are optimistic about 2026, however the business remains mindful and cautious about the UK economy and beyond given the current inflationary pressures.

PRINCIPAL RISKS AND UNCERTAINTIES

The uncertain economic climate of recent years has changed shoppers' attitudes to value - with less disposable income the consumer is now expecting better quality at a lower price.

This coupled with the rising cost of labour in garment manufacturing countries and the volatility of raw material prices represent some of the key risks and uncertainties in the markets in which the business operates. The business is also exposed to significant changes in the US Dollar exchange rate and the Board reviews this exposure frequently and uses forward contracts to reduce the risk.

SECTION 172(1) STATEMENT

The board of directors of Stuart Peters Limited collectively consider that they have acted in a way to promote the success of the business in the decisions taken in the year ended 31 March 2025. As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours and in doing so, will contribute to the delivery of our plan.The intention is to nurture our reputation, through the delivery of our plan, that reflects our responsible behaviour.

Financial risk management

Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The company is mainly exposed to credit risk from credit sales and as a result the company has taken out credit risk insurance. It is company policy, implemented locally, to assess the credit risk of new customers before entering into contracts. Purchase limits are established for each customer, which represents the maximum open amount without requiring approval.

At a local level, a monthly review of the trade receivables' ageing analysis is undertaken and customers' credit is reassessed periodically. Existing customers that become "high risk" as a result of the periodic reassessment are placed on a restricted customer list and future credit sales are made only with approval of the local management, otherwise payment in advance is required. As is increasingly common in the industry, in recent times it's becoming increasingly difficult to find insurance in the sector, at similar levels to prior years.

Credit risk also arises from cash and cash equivalents and deposits with banks and financial institutions. For banks and financial institutions, only independently rated parties with minimum rating "A3" (Moody's) are accepted.

Rating at

Balance at

Rating at

Balance at

31 March

31 March

31 March

31 March

2025

2025

2024

2024

(Moody's)

(Moody's)

Barclays Bank Plc

A1

£8,536,089

A1

£7,771,618

Liquidity risk

Liquidity risk arises from the company management of working capital. It is the risk that the company will encounter difficulty in meeting its financial obligations as they fall due.

The Board receives rolling forward projections on a monthly basis as well as information regarding cash balances. At the end of the financial year, these projections indicated that the company expected to have sufficient liquid resources to meet its obligations under all reasonably expected circumstances.

Market risk

Market risk arises from the company use of foreign currency financial instruments. It is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates (currency risk).

Foreign exchange risk

Foreign exchange risk arises when the company enters into transactions denominated in a currency other than their functional currency.

The Board reviews the exposure of the company to exchange rate risk frequently and uses forward exchange rate contracts to reduce the risk, but significant changes in the exchange rate, particularly the US Dollar, impact the margin of the business.

Performance of the Business and KPI's

The Directors believe that by continuing to focus on strong customer and supplier relationships and by continuing to put a high emphasis on design and product development, the business should be able to maintain its position within the knitwear, jersey wear and outerwear markets.

The business continues to invest in IT to facilitate the focus of cutting edge design and improved working practices. In the opinion of the directors, trading volumes and profitability are key success factors, and so they consider turnover and gross profit to be the business KPIs and set out below:

2025

2024

£'000

£'000

Turnover

95,278

80,624

Gross profit

9,698

9,674

USD derivative fair value movement recognised in cost of sales gain/(loss)

(333)

(420)

The disruption in the Red Sea led to an additional period of turnover being reflected in this year's figures. Combined with new business, this contributed to an overall increase in this year's turnover. The number of garments produced and sold increased by 26%.

The average number of employees increased from 96 to 110 in the year ended 31 March 2025.

The Board were happy with performance and remain confident of continued success.

ON BEHALF OF THE BOARD:

J D Peters - Director

9 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of supply of fashionable, design driven knitwear, jersey wear, outerwear and sleepwear to blue chip UK high street retail customers.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 was £2,500,000 (2024 - £2,000,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

K D Crump

J D Peters

S Peters

E Peters

The directors have ensured the business has continued to remain resilient throughout the pandemic not only operating from a strong financial position through the peak of the outbreak but also to maximise the business potential and commercial opportunities that present themselves beyond this point. As the UK Business Transformation and Business sectors have started to revert to normality in terms of opportunities being presented, the business has benefited from the prudent approach taken in the year or so beforehand to deliver a strong result and cashflow from a backdrop of uncertainty and caution.

The trading environment and outlook for the future remains positive in the short to medium term. It is the opinion of the directors that in general the business sector continues to remain in a healthy position with expectation that it will continue to grow. The company remains mindful and cautious about the UK economy and beyond given the current inflationary pressures however the strong pipelines coupled with business moving into its peak period of the year provides a solid base to deliver a good result in the next year.The directors will continue to pursue a route of careful and considerate planning given the current inflationary pressures and the predicted increase in interest rates but maintaining the expectation that the market continues to remain resilient.

ENGAGEMENT WITH EMPLOYEES

Employment of disabled persons

The company is committed to a policy of recruitment and promotion on the basis of aptitude and ability without discrimination of any kind. Particular attention is given to the training and promotion of disabled employees to ensure that their career development is not unfairly restricted by their disability, or perceptions of it.

The company's human resources procedures make clear that full and fair consideration must be given to applications made by and the promotion of disabled persons. Where an employee becomes disabled whilst employed by the company, the human resources procedures also require that reasonable effort is made to ensure they have the opportunity for continued employment within the company. Retraining of employees who become disabled whilst employed by the company is offered where appropriate.

Employee involvement

The company undertakes regular staff surveys to canvas views on significant matters. The directors also communicate regularly with employees to keep them informed of the status of the company and relevant challenges and strategies.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The company's board is committed to being a responsible business.

We prepare a 3 years forecast and the board regularly review our strategic priorities and risks.

We actively engaged with our customers about their needs and product plans.

We take this feedback to our suppliers to ensure that the demands of our customers are reflected in our engagement with our suppliers.

We regularly update our staff on business developments

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS

Due to the nature and size of the company the directors fulfil their duties by utilising a governance framework and they delegate the day-to-day decision making to operation managers, whilst maintaining the overall control of the processes and procedures the company operates.

STREAMLINED ENERGY AND CARBON REPORTING

Stuart Peters Limited is committed to the Energy Savings Opportunities Scheme that applies to large undertakings as defined by the Companies Act 2006. The energy consumption reports the energy and carbon consumption for Stuart Peters Limited only.

Energy Consumption.

Total energy consumption per fuel type for the reporting period is set out as follows:

Energy Consumption (kWh)

2025

2024

2023

Grid supplied electricity: Total Energy Consumption.

165,696

177,707

166,445

Emissions (tCO2e):

Grid supplied electricity (Scope 2)

34.31

36.71

32.19

Intensity ratio (tCo2e/m2)

Office Square meter

962.48

962.48

962.48

Intensity Ratio Total Energy Consumption: (kWh)/Sq.m

172.16

184.63

172.93

Intensity Ratio: Emissions (tCO2e)/Office Sq.meter

0.03

0.04

0.03

Methodology

Data used in calculating Total Energy Consumption includes summary data, electricity meter readings and utility bills. Electricity conversions to kWh and CO2 emissions data have been calculated in line with the UK Government environmental reporting guidance published June 2024 using UK Government GHG conversion factors for company reporting for year 2024 published by the Department for Energy Security & Net Zero. Previous year conversion was made using 2023 UK Government GHG conversion factors for company reporting . Grid supplied electricity is the company's only source of energy.

Intensity Measurement Ratio

The intensity measurement ratio is a measure of environmental impact, the quantity of energy per unit of output, we have chosen the entire office square meterage.

Measures taken to improve efficiency

The company has made efforts to become more environmentally conscious by promoting the use of efficient technologies and and introducing measures such as:

- Upgrading lighting to LED and fitting light sensors in the premises.

- Upgrading PCs to more energy efficient laptops.

- Reduced courier costs by effective delivery management.

- Increased availability and encouraged use of video conferencing.

- Reduced travel costs by reducing number of face to face meetings with clients and suppliers.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with the Companies Act, to set out in the strategic report, information regarding the review of business and a description of the principal risks and uncertainties facing the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Melinek Fine LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J D Peters - Director

9 December 2025

Opinion

We have audited the financial statements of Stuart Peters Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 Auditors' 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

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 directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, 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 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.

Auditors' 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 a Report of the Auditors 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:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our: general commercial and sector experience; through verbal and written communications with those charged with governance and other management; and via inspection of the company's regulatory and legal correspondence.

We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations to our team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements, including: the company's constitution, relevant financial reporting standards; company law; tax legislation and distributable profits legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties, or through losses arising from litigation. We identified the following areas as those most likely to have such an affect: employment legislation; health and safety legislation; trade legislation; legislation relevant to the commercial property rental environment; data protection legislation; anti-bribery and corruption legislation.

International Standards on Auditing (UK) limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance with laws and regulations that could have a material impact on the financial statements.

In relation to fraud, we performed the following specific procedures in addition to those already noted:

-Challenging assumptions made by management in its significant accounting estimates.

-Identifying and testing journal entries, in particular any entries posted with unusual nominal ledger account combinations, journal entries crediting cash or any revenue account, journal entries posted by senior management.

-Performing analytical procedures to identify unexpected movements in account balances which may be indicative of fraud;

-Ensuring that testing undertaken on both the performance statements and the Balance Sheet includes a number of items selected on a random basis.

These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with International Auditing Standards UK). For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

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

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 a Report of the Auditors 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.

Aryeh Melinek (Senior Statutory Auditor)

for and on behalf of Melinek Fine LLP

Chartered Accountants

Statutory Auditors

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

10 December 2025

TURNOVER

4

95,277,696

80,624,403

Cost of sales

85,579,413

70,949,535

GROSS PROFIT

9,698,283

9,674,868

Administrative expenses

7,944,833

7,645,471

1,753,450

2,029,397

Other operating income

5

1,351,062

1,285,148

OPERATING PROFIT

7

3,104,512

3,314,545

Interest receivable and similar income

178,073

185,470

3,282,585

3,500,015

Interest payable and similar expenses

8

218,695

138,093

PROFIT BEFORE TAXATION

3,063,890

3,361,922

Tax on profit

9

785,777

878,090

PROFIT FOR THE FINANCIAL YEAR

2,278,113

2,483,832

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,278,113

2,483,832

FIXED ASSETS

Tangible assets

11

398,162

540,586

CURRENT ASSETS

Stocks

12

398,828

236,229

Debtors

13

18,312,499

16,463,102

Cash at bank and in hand

8,578,653

7,836,036

27,289,980

24,535,367

CREDITORS

Amounts falling due within one year

14

13,411,437

10,469,360

NET CURRENT ASSETS

13,878,543

14,066,007

TOTAL ASSETS LESS CURRENT LIABILITIES

14,276,705

14,606,593

PROVISIONS FOR LIABILITIES

17

357,377

465,378

NET ASSETS

13,919,328

14,141,215

CAPITAL AND RESERVES

Called up share capital

18

500,000

500,000

Profit and loss account

13,419,328

13,641,215

SHAREHOLDERS' FUNDS

13,919,328

14,141,215

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

J D Peters - Director

Called up

Profit

share

and loss

Total

capital

account

equity

£

£

£

Balance at 1 April 2023

500,000

13,157,383

13,657,383

Changes in equity

Dividends

-

(2,000,000

)

(2,000,000

)

Total comprehensive income

-

2,483,832

2,483,832

Balance at 31 March 2024

500,000

13,641,215

14,141,215

Changes in equity

Dividends

-

(2,500,000

)

(2,500,000

)

Total comprehensive income

-

2,278,113

2,278,113

Balance at 31 March 2025

500,000

13,419,328

13,919,328

Cash flows from operating activities

Cash generated from operations

1

4,452,430

1,669,193

Tax paid

(1,119,425

)

(650,261

)

Net cash from operating activities

3,333,005

1,018,932

Cash flows from investing activities

Purchase of tangible fixed assets

(49,766

)

(217,412

)

Interest received

178,073

185,470

Net cash from investing activities

128,307

(31,942

)

Cash flows from financing activities

Interest paid

(218,695

)

(138,093

)

Equity dividends paid

(2,500,000

)

(2,000,000

)

Net cash from financing activities

(2,718,695

)

(2,138,093

)

Increase/(decrease) in cash and cash equivalents

742,617

(1,151,103

)

Cash and cash equivalents at beginning of year

2

7,836,036

8,987,139

Cash and cash equivalents at end of year

2

8,578,653

7,836,036

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

3,063,890

3,361,922

Depreciation charges

192,190

354,210

Fair value (gains)/losses

333,131

420,699

Increase in provision

3,500

8,000

Finance costs

218,695

138,093

Finance income

(178,073

)

(185,470

)

3,633,333

4,097,454

Increase in stocks

(162,599

)

(156,342

)

Increase in trade and other debtors

(2,182,528

)

(3,715,685

)

Increase in trade and other creditors

3,164,224

1,443,766

Cash generated from operations

4,452,430

1,669,193

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

8,578,653

7,836,036

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

7,836,036

8,987,139

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

7,836,036

742,617

8,578,653

7,836,036

742,617

8,578,653

Total

7,836,036

742,617

8,578,653

1.	STATUTORY INFORMATION

Stuart Peters Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal place of business is Ryland House, 24A Ryland Road, London, NW5 3EH.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of derivative financial instruments.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover from the sales of goods is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer which is generally on handover and it is probable that the Company will receive the previously agreed upon payment. These criteria are considered to be met when the goods are delivered to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, if there is an indication of a significant change since the last reporting date.

Stocks

Stock comprise of goods held for resale which are valued at lower of cost and net realisable value. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing. Cost includes all direct expenditure and other appropriate attributable costs incurred in bringing stock to their present location and condition. At each reporting date, stocks are assessed for impairment, if stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Foreign exchange gains and losses are presented in profit or loss within 'cost of sales'.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods.This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Financial assets

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

Financial liabilities and equity

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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that 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.

Derivative financial instruments

The company has entered into foreign exchange forward contracts to manage its exposure to foreign exchange risk. These derivatives are measured at fair value based on the mark-to-market estimates at each reporting date. Any fair value gains or losses resulting from the measuring the derivatives at fair value are recognised within 'cost of sales'.

Financial risk management

Exposure to movements in rates of foreign exchange in relation to trading transactions between the date that a contractual obligation is entered into and the date of completion of the contract is hedged through the use of forward currency purchases. Exposure to movements in exchange rates is reviewed regularly by the directors. Details of the financial risk management policies are provided within the strategic report.

Provision for liabilities

Provisions are recognised when there is a present legal or constructive obligation as a result of a past event, for which it is probable that an outflow of economic benefit will be required to settle the obligation and where the amount can be reliably estimated.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

4.

TURNOVER

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

5.	OTHER OPERATING INCOME

2025

2024

£

£

Income from operating lease

266,062

261,148

Other operating income

1,085,000

1,024,000

1,351,062

1,285,148

Other operating income represents management fee income from group undertakings which is recognised on accruals basis and is based on cost incurred providing services to other group undertakings.

Income from operating lease is recognised on accruals basis and according to rental agreements.

6.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,352,370

3,986,672

Social security costs

400,914

426,015

Other pension costs

79,571

77,651

4,832,855

4,490,338