Registered number: 06365402
For the Year Ended 31 March 2025
Company Information
Contents
Strategic Report
For the Year Ended 31 March 2025
Gemporia’s principal activity is the design, sourcing, and retail of jewellery, beauty, homeware, and complementary products, primarily through ecommerce and television.
The business operates its own broadcasting facilities, customer service team, and warehousing in the heart of the UK, and remains a significant employer in the region. At the heart of Gemporia is a commitment to genuine gemstones and exceptional product value. This focus is supported by direct sourcing and strong, long-term relationships with carefully selected suppliers.
The Group is majority-owned by its employees through an Employee Ownership Trust, with the founders retaining a significant stake and continuing to play an active role in shaping strategic direction. The Company’s objective is to maximise shareholder returns by delivering outstanding value and quality across its product ranges.
The business operates its own broadcasting facilities, customer service team, and warehousing in the heart of the UK, and remains a significant employer in the region. At the heart of Gemporia is a commitment to genuine gemstones and exceptional product value. This focus is supported by direct sourcing and strong, long-term relationships with carefully selected suppliers.
The Group is majority-owned by its employees through an Employee Ownership Trust, with the founders retaining a significant stake and continuing to play an active role in shaping strategic direction. The Company’s objective is to maximise shareholder returns by delivering outstanding value and quality across its product ranges.
The performance achieved during the year is set out in the Statement of comprehensive income on page 11.
At 31 March 2025, the Company has net assets of £9,992,052 (2024 - £7,694,370).
Building on the foundations laid last year, the business continued to implement its strategic product and proposition reviews throughout the period. Economic conditions remained challenging, making cost discipline and operational efficiency more critical than ever. Product efficiency has remained a key focus, supported by careful budget control and responsive decision-making. Expanding into new categories and product areas has been an important growth lever, allowing the business to adapt to evolving customer demand.
A major area of focus during the year has been the continued development of our ecommerce capability. Significant progress was made in improving the customer experience across digital channels, enhancing both functionality and conversion. This investment reflects the ongoing shift in customer behaviour and underpins our multichannel strategy.
At the same time, Gemporia has continued to strengthen its position as a gemstone specialist. Our diamond strategy, in particular, has reinforced our leadership in this space, clearly differentiating us from a growing field of imitation-led competitors.
At 31 March 2025, the Company has net assets of £9,992,052 (2024 - £7,694,370).
Building on the foundations laid last year, the business continued to implement its strategic product and proposition reviews throughout the period. Economic conditions remained challenging, making cost discipline and operational efficiency more critical than ever. Product efficiency has remained a key focus, supported by careful budget control and responsive decision-making. Expanding into new categories and product areas has been an important growth lever, allowing the business to adapt to evolving customer demand.
A major area of focus during the year has been the continued development of our ecommerce capability. Significant progress was made in improving the customer experience across digital channels, enhancing both functionality and conversion. This investment reflects the ongoing shift in customer behaviour and underpins our multichannel strategy.
At the same time, Gemporia has continued to strengthen its position as a gemstone specialist. Our diamond strategy, in particular, has reinforced our leadership in this space, clearly differentiating us from a growing field of imitation-led competitors.
The Company is exposed to a number of financial and operational risks arising from its trading activities. The principal risks are monitored on an ongoing basis and managed through regular review of performance, cash flow forecasting and operational controls.
The Company’s most significant financial risks continue to relate to cash flow management and liquidity, reflecting the timing differences between inventory purchases, sales activity and customer receipts. These risks are managed through vigilant monitoring of cash flows, disciplined cost control and ensuring that investments and expenditure remain within prescribed liquidity parameters. This approach is essential to maintaining financial stability and meeting both short-term working capital requirements and longer-term commitments.
The Company’s most significant financial risks continue to relate to cash flow management and liquidity, reflecting the timing differences between inventory purchases, sales activity and customer receipts. These risks are managed through vigilant monitoring of cash flows, disciplined cost control and ensuring that investments and expenditure remain within prescribed liquidity parameters. This approach is essential to maintaining financial stability and meeting both short-term working capital requirements and longer-term commitments.
Page 1
Strategic Report (continued)
For the Year Ended 31 March 2025
Principal risks and uncertainties (continued)
During the year, the Company has also experienced increased volatility in precious metal prices, particularly gold and silver, which has placed upward pressure on product costs. Sustained or rapid increases in metal prices may impact gross margins, pricing strategies and customer demand. Management seeks to mitigate this risk through careful product pricing, inventory management and sourcing strategies; however, market conditions remain outside the Company’s direct control.
As a retailer operating in discretionary consumer markets, the Company remains exposed to changes in consumer purchasing behaviour, influenced by economic conditions, inflationary pressures and consumer confidence. A reduction in demand or changes in customer preferences could adversely affect sales volumes and profitability. The Company closely monitors sales trends, customer engagement and product performance to enable timely responses to changes in market conditions.
The availability and effective management of stock also represents a key operational risk. The Company holds significant inventory levels, and there is a risk that changes in demand or market conditions could lead to slower-moving or obsolete stock. This risk is mitigated through ongoing stock review processes, robust inventory controls and regular assessment of stock recoverability.
During the year, the Company has also experienced increased volatility in precious metal prices, particularly gold and silver, which has placed upward pressure on product costs. Sustained or rapid increases in metal prices may impact gross margins, pricing strategies and customer demand. Management seeks to mitigate this risk through careful product pricing, inventory management and sourcing strategies; however, market conditions remain outside the Company’s direct control.
As a retailer operating in discretionary consumer markets, the Company remains exposed to changes in consumer purchasing behaviour, influenced by economic conditions, inflationary pressures and consumer confidence. A reduction in demand or changes in customer preferences could adversely affect sales volumes and profitability. The Company closely monitors sales trends, customer engagement and product performance to enable timely responses to changes in market conditions.
The availability and effective management of stock also represents a key operational risk. The Company holds significant inventory levels, and there is a risk that changes in demand or market conditions could lead to slower-moving or obsolete stock. This risk is mitigated through ongoing stock review processes, robust inventory controls and regular assessment of stock recoverability.
The Company employs a range of key performance indicators (KPIs) to enhance performance and improve forecasting accuracy. These KPIs are essential for evaluating operational efficiency and effectiveness.
Given the Company's involvement in retail, directors acknowledge that primary risks are linked to shifts in consumer purchasing behaviour and availability of stock. To monitor and adjust to these changes, the Company focuses on KPIs related to customer interactions and sales, including sales call volumes, new customer numbers, and sales turnover. These indicators are pivotal in understanding consumer trends, enabling timely and appropriate responses to market shifts.
This proactive stance assists the Company in minimising risks associated with volatile customer preferences and market conditions. Quick adaptation to KPI-driven insights enables the Company to maintain its market position and operational performance.
The Company has implemented stringent controls for monitoring these elements, ensuring comprehensive analysis and prompt action on relevant data. This encompasses regular reviews of sales figures, customer feedback, and market trends, and adjusting business strategies and operations as needed. Continuous refinement of monitoring processes and agile response mechanisms are essential for mitigating risks and seizing market opportunities, thereby preserving the Company's competitive advantage and assuring its sustained prosperity.
The Company also places significant emphasis on the management and control of its stock levels. Efficient stock control is integral to the Company's operational effectiveness and financial health. Maintaining optimal stock levels is a balancing act that involves ensuring sufficient inventory to meet customer demand while avoiding excessive stock that can tie up capital.
Given the Company's involvement in retail, directors acknowledge that primary risks are linked to shifts in consumer purchasing behaviour and availability of stock. To monitor and adjust to these changes, the Company focuses on KPIs related to customer interactions and sales, including sales call volumes, new customer numbers, and sales turnover. These indicators are pivotal in understanding consumer trends, enabling timely and appropriate responses to market shifts.
This proactive stance assists the Company in minimising risks associated with volatile customer preferences and market conditions. Quick adaptation to KPI-driven insights enables the Company to maintain its market position and operational performance.
The Company has implemented stringent controls for monitoring these elements, ensuring comprehensive analysis and prompt action on relevant data. This encompasses regular reviews of sales figures, customer feedback, and market trends, and adjusting business strategies and operations as needed. Continuous refinement of monitoring processes and agile response mechanisms are essential for mitigating risks and seizing market opportunities, thereby preserving the Company's competitive advantage and assuring its sustained prosperity.
The Company also places significant emphasis on the management and control of its stock levels. Efficient stock control is integral to the Company's operational effectiveness and financial health. Maintaining optimal stock levels is a balancing act that involves ensuring sufficient inventory to meet customer demand while avoiding excessive stock that can tie up capital.
Page 2
Strategic Report (continued)
For the Year Ended 31 March 2025
The directors of the Company, as those of all UK companies, must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 which is summarised as follows:
“A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and in doing so, have regard to the likely consequences of any decisions in the long term on; the interests of the company’s employees; the need to foster the company’s business relationships with suppliers, customers and others; the impact of the company’s operations on the community and environment; the desirability of the company maintaining a reputation for high standards of business conduct; and the need to act fairly as between shareholders and the company”.
The directors are aware of their duty under section 172 of the Companies Act 2006 and aim to always uphold the highest standard of governance to ensure that they maintain high standards of business conduct. The directors work closely together and meet on a regular basis to ensure that decisions taken are for the long term, acknowledging that the future success of the Company relies on them understanding and respecting the views of its employees, customers, suppliers and other stakeholders as well as the environment in which the company operates.
Consideration of engagement with suppliers, customers and other stakeholders is made in the Directors' Report.
“A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and in doing so, have regard to the likely consequences of any decisions in the long term on; the interests of the company’s employees; the need to foster the company’s business relationships with suppliers, customers and others; the impact of the company’s operations on the community and environment; the desirability of the company maintaining a reputation for high standards of business conduct; and the need to act fairly as between shareholders and the company”.
The directors are aware of their duty under section 172 of the Companies Act 2006 and aim to always uphold the highest standard of governance to ensure that they maintain high standards of business conduct. The directors work closely together and meet on a regular basis to ensure that decisions taken are for the long term, acknowledging that the future success of the Company relies on them understanding and respecting the views of its employees, customers, suppliers and other stakeholders as well as the environment in which the company operates.
Consideration of engagement with suppliers, customers and other stakeholders is made in the Directors' Report.
This report was approved by the board on 22 December 2025 and signed on its behalf.
Page 3
Directors' Report
For the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025 .
The profit for the year, after taxation, amounted to £2,297,682 (2024 - £4,195,964).
During the year, dividends of £Nil (2024 - £Nil) were declared.
The directors who served during the year were:
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK 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 to 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.
Page 4
Directors' Report (continued)
For the Year Ended 31 March 2025
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
The Company continues to promote its product range and seeks to increase its market share including by product diversification and by ensuring that its products are aligned to customer preferences and affordability.
The Directors of the Company constantly review engagement amongst our stakeholders, including customers and suppliers, to achieve sustained performance for the business;
∙Our customers' support is vital to the business. Our role is to exceed their expectations with compelling content, great value products and excellent customer service;
∙Our suppliers - we believe in sustainable relationships and treating our suppliers fairly.
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol - Corporate Standard and have used the 2024 UK Government's Conversion Factors for Company Reporting.
The chosen intensity measurement is total gross emissions in metric tonnes CO2e per employee. For the year ended 31 March 2025, this totalled 0.66 (2024 - 0.82) CO2e per individual.
Details on principal risks and uncertainties are contained in the strategic report.
Page 5
Directors' Report (continued)
For the Year Ended 31 March 2025
There have been no significant events affecting the Company since the year end.
The auditors, Dains Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 22 December 2025 and signed on its behalf.
Page 6
Independent Auditors' Report to the Members of Gemporia Limited
We have audited the financial statements of Gemporia Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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.
Page 7
Independent Auditors' Report to the Members of Gemporia Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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.
Page 8
Independent Auditors' Report to the Members of Gemporia Limited (continued)
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 Auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the retail sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the financial reporting legislation, Companies Act 2006, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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Independent Auditors' Report to the Members of Gemporia Limited (continued)
Auditors' responsibilities for the audit of the financial statements (continued)
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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.
for and on behalf of
Statutory Auditor
Chartered Accountants
Chartered Accountants
Birmingham
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Statement of Comprehensive Income
For the Year Ended 31 March 2025
Page 11
Balance Sheet
As at 31 March 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 December 2025 .
The notes on pages 15 to 32 form part of these financial statements.
Page 12
Balance Sheet (continued)
As at 31 March 2025
Page 13
Statement of Changes in Equity
For the Year Ended 31 March 2025
Page 14
Notes to the Financial Statements
For the Year Ended 31 March 2025
Gemporia Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is Eagle Road Studios, Unit 2D Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, B98 9HF. The Company's principal activity is the designing, sourcing and retailing of jewellery and complementary products via ecommerce and Television.
2.Accounting policies
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
Amounts presented in the financial statements have been rounded to the nearest £1.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Gemporia Partnership Limited as at 31 March 2025 and these financial statements may be obtained from Eagle Road Studios, Unit 2D Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, B98 9HF.
Page 15
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
The Company has recorded a profit for the year of £2,297,682 (2024 - £4,195,964) and at the balance sheet date has net assets of £9,992,052 (2024 - £7,694,370).
As detailed in the Business Review, economic conditions remained challenging, making cost discipline and operational efficiency more critical than ever. Building on the foundations laid last year, the business continued to implement its strategic product and proposition reviews throughout the period.
The directors have prepared consolidated forecasts to 31 March 2027, making certain assumptions regarding prudent possible changes in trading performance, level of demand for the Company’s products and the efficiency measures continuing to be being implemented.
The forecasts demonstrate that the Company can continue to trade within its finance facilities for a period of at least 12 months from the date of approval of the financial statements and therefore the directors have concluded that it is reasonable to continue to adopt the going concern basis in preparing the Company’s financial statements.
As detailed in the Business Review, economic conditions remained challenging, making cost discipline and operational efficiency more critical than ever. Building on the foundations laid last year, the business continued to implement its strategic product and proposition reviews throughout the period.
The directors have prepared consolidated forecasts to 31 March 2027, making certain assumptions regarding prudent possible changes in trading performance, level of demand for the Company’s products and the efficiency measures continuing to be being implemented.
The forecasts demonstrate that the Company can continue to trade within its finance facilities for a period of at least 12 months from the date of approval of the financial statements and therefore the directors have concluded that it is reasonable to continue to adopt the going concern basis in preparing the Company’s financial statements.
Other operating income relates to rent receivable for the year and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the rental income can be reliably measured. Revenue is measured at the fair value of the consideration receivable.
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
Page 16
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
Domain names - 25% straight line
Channel broadcasting rights - 5% straight line
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
Domain names - 25% straight line
Channel broadcasting rights - 5% straight line
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.
Depreciation is provided on the following bases:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 17
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
At each balance sheet 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 the Statement of comprehensive income.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from group undertakings.
Page 18
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Page 19
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
Depreciation
Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.
Page 20
Notes to the Financial Statements
For the Year Ended 31 March 2025
3.Judgements in applying accounting policies (continued)
Management is required to exercise significant judgement in estimating the expected level of sales returns, and hence the required provision, which is based on analysis of historical sales data, market conditions, and other relevant factors, to estimate the percentage of sales that are likely to be returned.
Stock impairment
Management is required to exercise significant judgement in estimating the slow-moving stock impairment, which takes into account the ageing of stock, its likelihood of being sold and its likely scrap value.
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 if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods
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 if
the revision affects only that period, or in the period of revision and future periods if the revision affects both
current and future periods.
Analysis of turnover by country of destination:
Page 21
Notes to the Financial Statements
For the Year Ended 31 March 2025
Page 22
Notes to the Financial Statements
For the Year Ended 31 March 2025
Page 23
Notes to the Financial Statements
For the Year Ended 31 March 2025
Page 24
Notes to the Financial Statements
For the Year Ended 31 March 2025
Page 25
Notes to the Financial Statements
For the Year Ended 31 March 2025
13.Taxation (continued)
There were no factors that may affect future tax charges.
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Page 26
Notes to the Financial Statements
For the Year Ended 31 March 2025
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Page 27
Notes to the Financial Statements
For the Year Ended 31 March 2025
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Page 28
Notes to the Financial Statements
For the Year Ended 31 March 2025
Page 29
Notes to the Financial Statements
For the Year Ended 31 March 2025
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Page 30
Notes to the Financial Statements
For the Year Ended 31 March 2025
Other reserve
Profit and loss account
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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £168,445 (2024 - £153,748). Contributions totalling £37,089 (2024 - £29,826) were payable to the fund at the balance sheet date and are included in creditors.
Page 31
Notes to the Financial Statements
For the Year Ended 31 March 2025
At the year end, loan balances owed from directors totalled £Nil (2024 - £455). Loans are interest free.
At 31 March 2025, the ultimate parent undertaking is Gemporia Partnership Limited, a company incorporated in England and Wales and registered in England and Wales.
The parent undertaking of the smallest and largest group to consolidate their financial statements is Gemporia Partnership Limited, a company incorporated in England and Wales and registered in England and Wales. Copies of these financial statements can be obtained from Eagle Road Studios, Unit 2D Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, B98 9HF.
At 31 March 2025, the Directors considered the ultimate controlling party to be TGGC Employee Ownership Trust. TGGC EOT Ltd, a company incorporated in England and Wales and holding shares in Gemporia Partnership Limited, has been incorporated purely as a corporate trustee acting on behalf of the beneficiaries of the Trust.
Page 32