Winsor Bishop Limited Company accounts

COMPANY REGISTRATION NUMBER: 04934858

WINSOR BISHOP LIMITED

FINANCIAL STATEMENTS

31 March 2025

WINSOR BISHOP LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the member	5

Statement of income and retained earnings	9

Statement of financial position	10

Notes to the financial statements	11

WINSOR BISHOP LIMITED

STRATEGIC REPORT

YEAR ENDED 31st MARCH 2025

The directors present the strategic report of the company for the year ended 31st March 2025

Fair review of the business

The nature of the business remained unchanged during the accounting year and the company continued to retail precious jewellery and fine diamonds, Patek Philippe, Rolex, Tudor, pre-owned Patek Philippe and Rolex Certified Pre-Owned watches from its showroom in Norwich. Sales of the key brand partners, Patek Philippe and Rolex, continued their upward trajectory during the accounting year and the ongoing investment programme in Rolex Certified Pre-Owned watches continued to produce further growth in turnover. Jewellery sales by volume reduced as this was the first full accounting year where jewellery imported from international manufacturers and suppliers was not retailed by the company. This reduced sales volume was mitigated by a significant increase in the average selling price. The retail of fine jewellery designed and manufactured by the group's own London workshop continues to develop and it is anticipated that during this current year there will be significant growth in sales from this part of the business. The company has continued to develop the properties adjacent to its store and a tenant relocation has provided further space for redevelopment which the company will fit out as a showroom for Rolex Certified Pre-Owned watches. In addition work has commenced to provide significant additional space for the presentation of jewellery and it is anticipated that both development projects will be finalised in 2026. Despite the current negativity surrounding the economy the directors believe that the relationships with the two key brand partners and the continued investment in both jewellery and its retail environments will produce further growth in this current accounting year.

Results

The company made a pre-tax profit of £2,949,688 (2024: £3,133,502) for the year from a turnover of £14,560,161 (2024: £13,113,852). At 31st March 2025 the company had net assets of £5,728,348 (2024: £4,545,868).

Principal risks and uncertainties

The principal risks and uncertainties facing the company relate to uncertainties around global economic fundamentals and their potential impact on the demand for the company's products. The directors do not consider that these risks will have a material effect on the company's performance due to its strength in the markets within which it operates.

Performance monitoring

The delivery of the company's strategic objectives is monitored by the directors through Key Performance Indicators and the periodic review of various aspects of the company's operations. The directors consider the following Key Performance Indicators as appropriate measures for the delivery of its corporate strategy. Financial Definition Sales Revenue Growth in sales revenue and the strength of the company's market position. Operating Profit The continued growth of operating profits which allows the company to continue to invest in its retail stock and facilities.

This report was approved by the board of directors on 21st December 2025 and signed on behalf of the board by:

K D Massey

Director

Registered office:

36-38 Park Green

Macclesfield

England

SK11 7NE

WINSOR BISHOP LIMITED

DIRECTORS' REPORT

YEAR ENDED 31st MARCH 2025

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

Principal activities

The principal activity of the company during the year was that of a retail jeweller.

Directors

The directors who served the company during the year were as follows:

K D Massey
L C Cook

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 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 judgments and accounting estimates that are reasonable and prudent; - 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

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

This report was approved by the board of directors on 21 December 2025 and signed on behalf of the board by:

K D Massey

Director

Registered office:

36-38 Park Green

Macclesfield

England

SK11 7NE

WINSOR BISHOP LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF WINSOR BISHOP LIMITED

YEAR ENDED 31st MARCH 2025

Opinion

We have audited the financial statements of Winsor Bishop Limited (the 'company') for the year ended 31st March 2025 which comprise the statement of income and retained earnings, statement of financial position 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 FRS 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 31st March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records 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 directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: - obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework; - inquired of management and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; - discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 and the Companies Act 2006. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing financial statement disclosures. The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and testing a sample of revenue transactions recorded in the year to determine whether revenue had been recorded correctly. 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 auditor's report. Use of our report

This report is made solely to the company's member, 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 member those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member as a body, for our audit work, for this report, or for the opinions we have formed.

Fraser Wolff FCCA

(Senior Statutory Auditor)

For and on behalf of

Edwards Veeder LLP

Chartered Accountants & Statutory Auditor

Alex House

260-268 Chapel Street

Salford

M3 5JZ

21 December 2025

WINSOR BISHOP LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 31st MARCH 2025

		2025	2024
Note		£	£
Turnover	4	14,560,161	13,113,852

Cost of sales	9,462,824	8,220,513
	-------------	-------------
Gross profit	5,097,337	4,893,339

Administrative expenses		2,157,716	1,764,484
Other operating income	5	11,617	258
		------------	------------
Operating profit	6	2,951,238	3,129,113

Other interest receivable and similar income	9	445	4,389
Interest payable and similar expenses	10	1,995	–
		------------	------------
Profit before taxation		2,949,688	3,133,502

Tax on profit	11	767,208	823,151
		------------	------------
Profit for the financial year and total comprehensive income		2,182,480	2,310,351
		------------	------------

Dividends paid and payable	12	( 1,000,000)	( 7,000,000)

Retained earnings at the start of the year	4,505,867	9,195,516
	------------	------------
Retained earnings at the end of the year	5,688,347	4,505,867
	------------	------------

All the activities of the company are from continuing operations.

WINSOR BISHOP LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	14	2,439,850	1,408,259
Investments	15	450,000	450,000
		------------	------------
		2,889,850	1,858,259

Current assets

Stocks	16	4,756,085	3,957,585
Debtors	17	77,277	902,097
Cash at bank and in hand		149,000	118,705
		------------	------------
		4,982,362	4,978,387

Creditors: amounts falling due within one year	18	1,827,909		2,199,197
		------------		------------
Net current assets			3,154,453	2,779,190
			------------	------------
Total assets less current liabilities			6,044,303	4,637,449

Provisions

Taxation including deferred tax	19	315,955	91,581
		------------	------------
Net assets		5,728,348	4,545,868
		------------	------------

Capital and reserves

Called up share capital	22	40,001	40,001
Profit and loss account		5,688,347	4,505,867
		------------	------------
Shareholder funds		5,728,348	4,545,868
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 21 December 2025 , and are signed on behalf of the board by:

K D Massey

Director

Company registration number: 04934858

WINSOR BISHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

1. General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 36-38 Park Green, Macclesfield, England, SK11 7NE.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Prestons Group Limited which can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: - No cash flow statement has been presented for the company. - Disclosures in respect of financial instruments have not been presented. - Disclosures in respect of share-based payments have not been presented. - No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Useful life of fixed assets In making decisions regarding the depreciation of non current assets, management must estimate the useful life of said assets to the business. A change in estimate would result in a change in the depreciation charged to profit and loss in each year. The carrying amount of depreciation at the end of 31st March 2025 is £1,222,210 (2024 £845,834).

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Leasehold property improvements	-	25% straight line
Fixtures, fittings & equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	14,560,161	13,113,852
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Other operating income	11,617	258
	--------	----

6. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	376,376	272,206
Operating lease rentals	50,800	50,800
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	16,000	16,000
	--------	--------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	12,891	11,750
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Retail staff	18	17
Management staff	1	1
	----	----
	19	18
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	754,588	640,088
Social security costs	82,453	63,684
Other pension costs	18,069	13,816
	---------	---------
	855,110	717,588
	---------	---------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	445	4,389
	----	-------

10. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	1,995	–
	-------	----

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	542,834	756,569
Adjustments in respect of prior periods	–	49
	---------	---------
Total current tax	542,834	756,618
	---------	---------

Deferred tax:

Origination and reversal of timing differences	224,374	66,533
	---------	---------
Tax on profit	767,208	823,151
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	2,949,688	3,133,502
	------------	------------
Profit on ordinary activities by rate of tax	737,422	783,375
Adjustment to tax charge in respect of prior periods	–	49
Effect of expenses not deductible for tax purposes	5,465	9,769
Effect of capital allowances and depreciation	( 200,053)	( 36,575)
Deferred taxation	224,374	66,533
	------------	------------
Tax on profit	767,208	823,151
	------------	------------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	1,000,000	7,000,000
	------------	------------

13. Intangible assets

	Goodwill
	£
Cost
At 1st April 2024 and 31st March 2025	660,839
	---------
Amortisation
At 1st April 2024 and 31st March 2025	660,839
	---------
Carrying amount
At 31st March 2025	–
	---------
At 31st March 2024	–
	---------

14. Tangible assets

	Freehold property	Leasehold property improvements	Fixtures, fittings & equipment	Total
	£	£	£	£
Cost
At 1st April 2024	784,500	660,761	808,832	2,254,093
Additions	–	239,840	1,168,127	1,407,967
	---------	---------	------------	------------
At 31st March 2025	784,500	900,601	1,976,959	3,662,060
	---------	---------	------------	------------
Depreciation
At 1st April 2024	31,380	420,464	393,990	845,834
Charge for the year	15,690	124,161	236,525	376,376
	---------	---------	------------	------------
At 31st March 2025	47,070	544,625	630,515	1,222,210
	---------	---------	------------	------------
Carrying amount
At 31st March 2025	737,430	355,976	1,346,444	2,439,850
	---------	---------	------------	------------
At 31st March 2024	753,120	240,297	414,842	1,408,259
	---------	---------	------------	------------

15. Investments

	Shares in group undertakings
	£
Cost
At 1st April 2024 and 31st March 2025	450,000
	---------
Impairment
At 1st April 2024 and 31st March 2025	–
	---------

Carrying amount
At 31st March 2025	450,000
	---------
At 31st March 2024	450,000
	---------

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Winsor Bishop (Norwich) Limited	Ordinary £1 shares	100

The registered office of the subsidiaries is 36-38 Park Green, Macclesfield, England, SK11 7NE

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2025	2024	2025	2024
	£	£	£	£
Subsidiary undertakings
Winsor Bishop (Norwich) Limited	450,000	450,000	–	–
	---------	---------	----	----

16. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	4,756,085	3,957,585
	------------	------------

17. Debtors

	2025	2024
	£	£
Trade debtors	10,444	20,760
Amounts owed by group undertakings	–	532,013
Prepayments and accrued income	66,833	45,866
Other debtors	–	303,458
	--------	---------
	77,277	902,097
	--------	---------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,097,773	991,959
Amounts owed to group undertakings	450,000	450,000
Accruals and deferred income	55,428	115,563
Corporation tax	111,120	533,873
Social security and other taxes	109,993	104,512
Other creditors	3,595	3,290
	------------	------------
	1,827,909	2,199,197
	------------	------------

HSBC UK Bank plc has a fixed and floating charge over all of the company assets dated 10 August 2021.

19. Provisions

	Deferred tax (note 20)
	£
At 1st April 2024	91,581
Additions	224,374
	---------
At 31st March 2025	315,955
	---------

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 19)	315,955	91,581
	---------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	315,955	91,581
	---------	--------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 18,069 (2024: £ 13,816 ).

22. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	40,001	40,001	40,001	40,001
	--------	--------	--------	--------

23. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	50,800	50,800
Later than 1 year and not later than 5 years	203,200	203,200
Later than 5 years	19,381	146,050
	---------	---------
	273,381	400,050
	---------	---------

24. Contingencies

Winsor Bishop Limited and it's parent company, Prestons Group Limited, are subject to an inter-company guarantee in favour of the funders to Prestons Group Limited. At 31st March 2025, the company has a contingent liability under this agreement amounting to £Nil (2024: £Nil)

25. Related party transactions

The company has taken advantage of the exemption available in Section 33 of FRS102 "Related Party Disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group. During the year, the entity purchased £252,176 (2024: £54,282) from a company related by common ownership.

26. Controlling party

The company's ultimate parent company is Prestons Group Limited, a company incorporated in England and Wales. A copy of its financial statements can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.