REGISTERED NUMBER: 07322670 (England and Wales)

Corset Story Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C D Rawlings

TJ Rance

REGISTERED OFFICE:

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

REGISTERED NUMBER:

07322670 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Intangible assets

4

6,858

26,579

Tangible assets

5

69,571

103,338

76,429

129,917

CURRENT ASSETS

Stocks

373,096

564,402

Debtors

6

259,313

384,141

Cash at bank

122,941

207,974

755,350

1,156,517

CREDITORS

Amounts falling due within one year

7

407,071

529,473

NET CURRENT ASSETS

348,279

627,044

TOTAL ASSETS LESS CURRENT LIABILITIES

424,708

756,961

CREDITORS

Amounts falling due after more than one year

8

(216,489

)

(359,354

)

PROVISIONS FOR LIABILITIES

-

(25,161

)

NET ASSETS

208,219

372,446

CAPITAL AND RESERVES

Called up share capital

10

3

3

Retained earnings

11

208,216

372,443

SHAREHOLDERS' FUNDS

208,219

372,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

C D Rawlings - Director

1.	STATUTORY INFORMATION

Corset Story Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable after discounts, excluding value added tax and other sales taxes for goods despatched during the year.

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.

Website design costs are being amortised evenly over their estimated useful life of five years.

Pattern licence costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs incurred in bringing the stocks to their present state and location.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

322,854

Disposals

(43,773

)

At 31 March 2025

279,081

AMORTISATION

At 1 April 2024

296,275

Charge for year

19,721

Eliminated on disposal

(43,773

)

At 31 March 2025

272,223

NET BOOK VALUE

At 31 March 2025

6,858

At 31 March 2024

26,579

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

6,266

29,373

164,970

36,688

237,297

Disposals

(5,067

)

(29,373

)

-

(24,153

)

(58,593

)

At 31 March 2025

1,199

-

164,970

12,535

178,704

DEPRECIATION

At 1 April 2024

1,241

25,003

76,126

31,589

133,959

Charge for year

240

-

22,211

2,539

24,990

Eliminated on disposal

(901

)

(25,003

)

-

(23,912

)

(49,816

)

At 31 March 2025

580

-

98,337

10,216

109,133

NET BOOK VALUE

At 31 March 2025

619

-

66,633

2,319

69,571

At 31 March 2024

5,025

4,370

88,844

5,099

103,338

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

62,180

DEPRECIATION

At 1 April 2024

5,182

Charge for year

14,249

At 31 March 2025

19,431

NET BOOK VALUE

At 31 March 2025

42,749

At 31 March 2024

56,998

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

2,441

Amounts owed by group undertakings

218,225

218,225

Other debtors

34,586

39,433

Directors' current accounts

-

19,222

VAT

3,327

50,798

Prepayments

3,175

54,022

259,313

384,141

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

130,818

127,740

Hire purchase contracts (see note 9)

12,024

11,629

Trade creditors

7,200

193,814

Tax

-

140

Social security and other taxes

40,428

44,939

Other creditors

18,037

14,978

Directors' current accounts

35,702

1,693

Deferred income

63,517

90,511

Accrued expenses

99,345

44,029

407,071

529,473

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

181,818

312,659

Hire purchase contracts (see note 9)

34,671

46,695

216,489

359,354

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Gross obligations repayable:

Within one year

13,147

13,147

Between one and five years

36,154

49,301

49,301

62,448

Finance charges repayable:

Within one year

1,123

1,518

Between one and five years

1,483

2,606

2,606

4,124

Net obligations repayable:

Within one year

12,024

11,629

Between one and five years

34,671

46,695

46,695

58,324

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

3

Ordinary

£1

3

3

11.

RESERVES

Retained

earnings

£

At 1 April 2024

372,443

Deficit for the year

(81,208

)

Dividends

(83,019

)

At 31 March 2025

208,216

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

C D Rawlings

Balance outstanding at start of year

19,222

-

Amounts advanced

-

20,000

Amounts repaid

(19,222

)

(778

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

19,222

The loan account carried interest and was repaid in full after the year end.

13.	RELATED PARTY DISCLOSURES

The amount owed by the parent undertaking to the company is disclosed in note 9.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C D Rawlings.

15.	ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Corset Story Holdings Limited. The registered office of Corset Story Holdings Limited is Unit 12 Shottery Brook Office Park Timothy's Bridge Road Stratford upon Avon CV37 9NR.