| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| DEVON DUVETS HANDCRAFTED LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| DEVON DUVETS HANDCRAFTED LIMITED |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DEVON DUVETS HANDCRAFTED LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Keble House |
| Southernhay Gardens |
| Exeter |
| Devon |
| EX1 1NT |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Balance Sheet |
| 31 MARCH 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Balance Sheet - continued |
| 31 MARCH 2025 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | COMPANY INFORMATION |
| Devon Duvets Handcrafted Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with fellow wholly owned subsidiaries and parent within the group. |
| Turnover |
| Turnover represents amounts chargeable in respect of the sale of goods and services to customers. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Patents and licences are being amortised evenly over their estimated useful life of five years. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
| Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| Hire purchase and leasing commitments |
| Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Patents |
| and | Development |
| licences | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Amortisation for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Reclassification/transfer | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Reclassification/transfer | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 10) |
| Other creditors |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| DEVON DUVETS HANDCRAFTED LIMITED (REGISTERED NUMBER: 07201126) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 101,036 | 141,142 |
| Bank and other loans |
| There is a fixed and floating charge with Lloyds Bank dated 3 May 2011 over all the assets of the company. |
| The directors have also provided personal guarantee's for some of the bank and other loans. |
| Hire purchase |
| Hire purchase contracts are secured against the assets in which they relate. |
| 12. | RELATED PARTY DISCLOSURES |
| Fellow subsidiary |
| Included in trade debtors is a balance owing from a fellow subsidiary company of £336,532 (2024 £Nil). |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Devon Duvets Holdings Ltd. |
| The parent company's principal place of business is 1 Beaumont Way, Langage South, Plymouth, Devon, England, PL7 5FN. |