Company registration number 07219475 (England and Wales)
ARVILLE HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ARVILLE HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr J W F Wight
Mr A D Stewart
Mr S R McGuffie
(Appointed 1 August 2024)
Company number
07219475
Registered office
Arville House
Sandbeck Way
Wetherby
LS22 7DQ
Auditor
Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ
ARVILLE HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10 - 11
Company balance sheet
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 38
ARVILLE HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report and financial statements for the year ended 30 April 2025.

Fair review of the business

The Arville Group is a specialist manufacturer of high-performance technical textiles, supplying into a wide range of demanding sectors including aerospace, automotive, defence, food manufacturing, and general industry. With integrated in-house capabilities spanning design, weaving, finishing, coating, fabrication, and testing, we provide bespoke textile solutions tailored to meet exacting customer specifications. Our business model continues to focus on developing long-term, strategic partnerships with key customers. We aim to deliver consistent, profitable growth by leveraging our reputation for technical innovation, outstanding service, and an uncompromising approach to quality. In recent years, we have concentrated efforts on larger customer relationships and higher-value contracts, supported by a more streamlined and focused product range. The trading environment in 2024/25 remained challenging, characterised by continued macroeconomic uncertainty, subdued industrial activity, and sector-specific pressures in areas such as automotive and aerospace. One of the Group’s largest customers experienced a significant downturn in their own markets, resulting in a reduction in volumes of approximately 25%. While other parts of our business remained stable, the rate of growth in new and existing accounts was insufficient to fully offset this decline. Overall Group turnover fell by 2.5% to £12.8m (2024: £13.1m). In response, and with a focus on long-term resilience, we launched a comprehensive transformation programme in May 2024. This includes a full restructuring of our commercial division, the recruitment of highly experienced senior leaders from large-scale industrial businesses, and significant investment into modernising our systems and operational platforms. These senior appointments are already enhancing the strength and depth of our leadership team, bringing new capability, commercial insight, and strategic focus to the business. We have also committed further capital to upgrading key areas of our plant and equipment to ensure we remain competitive in terms of capacity, quality, and efficiency. This investment ensures that we are well positioned to meet evolving customer demands and further enhance our market-leading technical standards. Encouragingly, we are already seeing the benefits of this strategy. A number of major new key accounts have engaged with Arville during the year, reinforcing our belief that the changes underway are aligned with the needs of the market. We are continuing to build on Arville’s strong foundations of technical excellence and unrivalled customer service, qualities that have attracted a new cadre of customers and reaffirmed our position as a trusted and capable partner. While the combination of transitional investment and the temporary dip in revenue led to a pre-tax loss of £0.9 m (2024: £0.2m profit), we are confident that the actions taken will restore profitability and support long-term sustainable growth.

ARVILLE HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Principal risks and uncertainties

The Board monitors the key risks and uncertainties facing the business on an ongoing basis, taking appropriate steps to mitigate them where possible. Customer concentration remains a key risk, as a significant proportion of turnover is derived from a small number of major accounts. Our new business strategy is specifically designed to broaden our customer base and reduce reliance on any one sector or customer. Ongoing economic uncertainty, supply chain disruption, and global geopolitical instability continue to impact demand patterns and material availability. We maintain strong communication with our customers and suppliers to anticipate and mitigate potential challenges, and have diversified our supplier base to reduce exposure to risk. Attracting and retaining skilled labour remains a challenge in a tight employment market. We regularly review our employment package and invest in creating a supportive and engaging workplace to retain talent and build capability for the future.
The Board monitors the key risks and uncertainties facing the business on an ongoing basis, taking appropriate steps to mitigate them where possible. Customer concentration remains a key risk, as a significant proportion of turnover is derived from a small number of major accounts. Our new business strategy is specifically designed to broaden our customer base and reduce reliance on any one sector or customer. Ongoing economic uncertainty, supply chain disruption, and global geopolitical instability continue to impact demand patterns and material availability. We maintain strong communication with our customers and suppliers to anticipate and mitigate potential challenges, and have diversified our supplier base to reduce exposure to risk. Attracting and retaining skilled labour remains a challenge in a tight employment market. We regularly review our employment package and invest in creating a supportive and engaging workplace to retain talent and build capability for the future. Foreign exchange volatility presents a further operational risk, particularly with over 50% of revenue generated from overseas customers. We manage this risk by aligning inflows and outflows in key currencies to minimise net exposure. We do not currently employ hedging instruments. Raw material availability, particularly in specialist yarns, remains a supply chain risk. Multiple sourcing strategies and close supplier partnerships help to minimise potential disruption.
Key performance indicators
The Group monitors a range of KPIs including turnover, gross margin, operating margin, contribution per machine hour, and capital efficiency. Turnover declined by 2.5% to £12.8m, with gross margin reducing from 29.2% in 2024 to 28.4% in 2025 due to product mix and the fact that there is an element of fixed cost within our direct overheads. These pressures, along with the investment into reinforcing our commercial team, resulted in a pre-tax loss of £0.9m. Capital management remains a focus, with stock levels remaining constant year on year at £3.2m and trade debtors reducing from £2.6 m to £2.2 m. Stock levels remain relatively high as we are ensuring we have sufficient raw material and finished stock on hand to meet major contract requirements. Our objective is to manage working capital effectively while ensuring supply continuity for key contracts. The appointment of a new Group Supply Chain Manager during the year has already delivered improvements in supplier relationships and inventory control.

ARVILLE HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

People and the environment
We remain committed to maintaining a safe, inclusive, and rewarding environment for our employees. Internal promotion, training, and development are central to our approach, and we aim to build careers within Arville wherever possible. Health & Safety remains our highest operational priority across all of the Arville Group companies. We work collaboratively with all employees to ensure a culture of safety and continuous improvement across our sites. Arville is certified to ISO 14001 and continues to invest in improving its environmental performance. We recognise our responsibility to reduce our environmental footprint and actively seek ways to operate more sustainably.
Future developments
Our transformation programme will continue into 2025/26, focused on delivering further commercial capability, improved productivity, and new business generation. The early wins already achieved through recent investments are highly encouraging and provide a strong platform for future growth. The combination of technical excellence, experienced new leadership, modernised systems, and targeted capital investment is positioning Arville for a return to strong, sustainable profitability. The commitment of our team and the trust of our customers remain the foundation for future success.
Conclusion
The loss recorded during the year reflects the impact of external market pressures and our conscious decision to invest in the future strength of the business. We are already seeing the early results of this investment in the form of new customer wins, improved capabilities, and increased commercial momentum. The Board would like to thank all Arville employees for their continued dedication, resilience, and contribution during this important phase of the Group’s development.

On behalf of the board

Mr J W F Wight
Director
19 August 2025
ARVILLE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The group's principal activities continued to be the design, weaving, finishing, coating and fabrication of technical industrial fabrics and products.

Results and dividends

The results for the year are set out on page 9.

Ordinary interim dividends were paid amounting to £63,457 (2024 - £245,640). The directors do not recommend the p ayment of a final divide nd.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J W F Wight
Mr A D Stewart
Mr S R McGuffie
(Appointed 1 August 2024)
Mr D J Salter
(Resigned 7 September 2024)
Auditor

The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr J W F Wight
Director
19 August 2025
ARVILLE HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -

The directors are responsible for preparing the Annual 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

- state whether applicable 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ARVILLE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ARVILLE HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of Arville Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the consolidated statement of total comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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 group's and the parent company's affairs as at 30 April 2025 and of the group's loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport 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.

ARVILLE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ARVILLE HOLDINGS LIMITED
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company 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' r esponsibilities s tatement, 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 parent 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 parent 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ARVILLE HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ARVILLE HOLDINGS LIMITED
- 8 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

- Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Edward Cliff (Senior Statutory Auditor)
For and on behalf of Azets Audit Services Limited
20 August 2025
Chartered Accountants
Statutory Auditor
Triune Court
Monks Cross Drive
York
YO32 9GZ
ARVILLE HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
12,799,083
13,120,986
Cost of sales
(9,167,783)
(9,289,715)
Gross profit
3,631,300
3,831,271
Administrative expenses
(4,526,258)
(3,693,373)
Other operating income
15,149
24,694
Operating (loss)/profit
4
(879,809)
162,592
Interest receivable and similar income
7
66,026
69,556
Interest payable and similar expenses
8
(39,652)
(45,752)
Fair value movements on investments
9
(17,267)
23,253
(Loss)/profit before taxation
(870,702)
209,649
Tax on (loss)/profit
10
1,000
44,000
(Loss)/profit for the financial year
(869,702)
253,649
Other comprehensive income
Actuarial gain on defined benefit pension schemes
56,000
296,000
Tax relating to other comprehensive income
(7,000)
(67,000)
Total comprehensive income for the year
(820,702)
482,649
Total comprehensive income for the year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ARVILLE HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
12
132,898
160,533
Other intangible assets
12
58,662
99,563
Total intangible assets
191,560
260,096
Tangible assets
13
2,083,258
2,192,579
Investments
14
1,004,205
1,009,392
3,279,023
3,462,067
Current assets
Stocks
15
3,172,871
3,173,951
Debtors
16
2,701,058
3,157,431
Cash at bank and in hand
723,175
601,088
6,597,104
6,932,470
Creditors: amounts falling due within one year
19
(2,761,467)
(2,359,545)
Net current assets
3,835,637
4,572,925
Total assets less current liabilities
7,114,660
8,034,992
Creditors: amounts falling due after more than one year
20
-
(13,173)
Provisions for liabilities
Deferred tax liability
21
198,000
199,000
(198,000)
(199,000)
Net assets excluding pension surplus
6,916,660
7,822,819
Defined benefit pension surplus
22
647,000
625,000
Net assets
7,563,660
8,447,819
Capital and reserves
Called up share capital
23
2,047
2,047
Share premium account
4,548,353
4,548,353
Profit and loss reserves
3,013,260
3,897,419
Total equity
7,563,660
8,447,819
ARVILLE HOLDINGS LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 11 -
The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
19 August 2025
Mr J W F Wight
Mr A D Stewart
Director
Director
Company registration number 07219475 (England and Wales)
ARVILLE HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
902,500
950,000
Investments
14
7,404,713
8,157,058
8,307,213
9,107,058
Current assets
Debtors
16
9,313
32,974
Cash at bank and in hand
49
99
9,362
33,073
Creditors: amounts falling due within one year
19
(69,043)
(33,670)
Net current liabilities
(59,681)
(597)
Net assets
8,247,532
9,106,461
Capital and reserves
Called up share capital
23
2,047
2,047
Share premium account
4,548,353
4,548,353
Revaluation reserve
1,196,304
1,943,462
Profit and loss reserves
2,500,828
2,612,599
Total equity
8,247,532
9,106,461

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £48,314 (2024 - £30,134 profit).

The financial statements were approved by the board of directors and authorised for issue on 19 August 2025 and are signed on its behalf by:
19 August 2025
Mr J W F Wight
Mr A D Stewart
Director
Director
Company registration number 07219475 (England and Wales)
ARVILLE HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 13 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2023
2,047
4,548,353
3,660,410
8,210,810
Year ended 30 April 2024:
Profit for the year
-
-
253,649
253,649
Other comprehensive income:
Actuarial gains on defined benefit plans
-
-
296,000
296,000
Tax relating to other comprehensive income
-
-
(67,000)
(67,000)
Total comprehensive income
-
-
482,649
482,649
Dividends
11
-
-
(245,640)
(245,640)
Balance at 30 April 2024
2,047
4,548,353
3,897,419
8,447,819
Year ended 30 April 2025:
Loss for the year
-
-
(869,702)
(869,702)
Other comprehensive income:
Actuarial gains on defined benefit plans
-
-
56,000
56,000
Tax relating to other comprehensive income
-
-
(7,000)
(7,000)
Total comprehensive income
-
-
(820,702)
(820,702)
Dividends
11
-
-
(63,457)
(63,457)
Balance at 30 April 2025
2,047
4,548,353
3,013,260
7,563,660
ARVILLE HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 14 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 May 2023
2,047
4,548,353
1,595,529
2,828,105
8,974,034
Year ended 30 April 2024:
Profit for the year
-
-
-
30,134
30,134
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
347,933
-
347,933
Total comprehensive income
-
-
347,933
30,134
378,067
Dividends
11
-
-
-
(245,640)
(245,640)
Balance at 30 April 2024
2,047
4,548,353
1,943,462
2,612,599
9,106,461
Year ended 30 April 2025:
Profit for the year
-
-
-
(48,314)
(48,314)
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
(747,158)
-
(747,158)
Total comprehensive income
-
-
(747,158)
(48,314)
(795,472)
Dividends
11
-
-
-
(63,457)
(63,457)
Balance at 30 April 2025
2,047
4,548,353
1,196,304
2,500,828
8,247,532
ARVILLE HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
30
755,869
1,227,165
Interest paid
(39,652)
(45,752)
Income taxes refunded
-
116,596
Net cash inflow from operating activities
716,217
1,298,009
Investing activities
Purchase of intangible assets
(18,274)
(69,492)
Purchase of tangible fixed assets
(435,384)
(809,154)
Proceeds from disposal of tangible fixed assets
-
21,623
Purchase of investments
(249,808)
(154,409)
Proceeds from disposal of investments
237,728
122,080
Interest received
42,145
26,050
Dividends received
23,881
43,506
Net cash used in investing activities
(399,712)
(819,796)
Financing activities
Repayment of bank loans
(90,911)
38,253
Payment of finance leases obligations
(40,050)
(140,332)
Dividends paid to equity shareholders
(63,457)
(245,640)
Net cash used in financing activities
(194,418)
(347,719)
Net increase in cash and cash equivalents
122,087
130,494
Cash and cash equivalents at beginning of year
601,088
470,594
Cash and cash equivalents at end of year
723,175
601,088
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
1
Accounting policies
Company information

Arville Holdings Limited (“the Company”) is a limited company domiciled and incorporated in England and Wales. The registered office is Arville House, Sandbeck Way, Wetherby, LS22 7DQ.

The Group consists of Arville Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the c ompany. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a parent of a group that prepares publicly available consolidated financial statements, which are intended to give a true and fair view of the assets, liabilities, balance sheet and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash f low and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Arville Holdings Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 30 April 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents the invoice value of goods and services net of VAT and is recognised on dispatch of goods.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 17 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Research and development expenditure

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.6
Intangible fixed assets - goodwill

Goodwill includes the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. Such goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. It is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, such goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Goodwill also includes goodwill on consolidation. Goodwill on consolidation is valued at cost less accumulated amortisation and accumulated impairment provisions. Amortisation is calculated to write off the cost in equal annual instalments over its estimated useful life of twenty years. Impairment reviews of goodwill are carried out where there is any indication of impairment.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% straight line
Customer list
33% straight line
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 18 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
5% straight line
Plant and machinery
15% / 33% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity instruments which are measured at fair value through profit or loss (FVTPL) except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements investments in subsidiaries are measured at net asset value.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investments comprise investments in quoted securities which are measured at fair value. Changes in fair v alue are recognised in profit or loss. Fair value is based on the last available prices quoted as at close of business on the valuation date. If the valuation falls on a non business day, the prices quoted will be those as at the close of business on the last business day before the valuation date.

1.10
Impairment of fixed assets

At each reporting end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 19 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.12
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.13
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 20 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 21 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.15
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 22 -
1.16
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.17
Retirement benefits

The company operates defined contribution and defined benefit pension schemes. The assets of the schemes are held separately from those of the company. With effect from February 2006, pension rights under the defined benefit scheme were frozen such that no further increase in benefits will accrue.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

1.18
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the pattern in which economic benefits from the lease d asset are consumed over time.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 23 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Depreciation and amortisation

The depreciation and amortisation policies have been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. The depreciation and amortisation charged during the year was £542,781 (2024: £586,506) which the directors feel is a fair reflection of the benefits derived from the consumption of the intangible and tangible fixed assets in use during the period.

Stock provisions

The group converts raw materials to finished goods as part of its production operations. Stock values include any costs such as labour and overheads attributable to generating finished goods, as management believe this is the most suitable costing method to take into account the matching concept of accounting.

At each reporting date an assessment is made of provisions required to properly recognise wastage, damaged goods and over absorbed overheads. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss and provided for in the balance sheet. Reversals of impairment losses are also recognised in profit or loss where these arise.

3
Turnover

An analysis of the group's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Textile sales
12,799,083
13,120,986
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
3
Turnover
(Continued)
- 24 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
7,202,549
6,606,655
Rest of Europe
4,007,453
4,634,433
Rest of the World
1,589,081
1,879,898
12,799,083
13,120,986
4
Operating (loss)/profit
2025
2024
£
£
Operating (loss)/profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(4,884)
27,924
Research and development costs
22,911
30,772
Depreciation of owned tangible fixed assets
463,382
387,381
Depreciation of tangible fixed assets held under finance leases
79,399
98,054
(Profit)/loss on disposal of tangible fixed assets
-
61
Amortisation of intangible assets
88,735
101,071
Operating lease charges
108,022
133,345
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
9,000
4,800
Audit of the financial statements of the company's subsidiaries
13,000
22,870
22,000
27,670
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Directors
3
3
3
3
Adminstration
40
35
-
-
Production
60
62
-
-
Total
103
100
3
3
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
6
Employees
(Continued)
- 25 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
4,251,542
3,940,797
78,575
70,500
Social security costs
415,696
384,047
7,434
7,150
Pension costs
243,716
237,550
-
0
-
0
4,910,954
4,562,394
86,009
77,650

The directors are of the opinion that there are no key management personnel other than the directors themselves.

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
145
50
Other interest income
42,000
26,000
Total interest revenue
42,145
26,050
Other income from investments
Dividends received
23,881
43,506
Total income
66,026
69,556
2025
2024
Investment income includes the following:
£
£
Dividends from financial assets measured at fair value through profit or loss
23,881
43,506
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
35,357
36,524
Interest on finance leases and hire purchase contracts
4,295
9,228
Total finance costs
39,652
45,752
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 26 -
9
Fair value movements on investments
2025
2024
£
£
Fair value gains/(losses) on financial instruments
(Loss)/gain on financial assets held at fair value through profit or loss
(17,267)
23,253
10
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
(84,000)
Deferred tax
Origination and reversal of timing differences
(1,000)
40,000
Total tax credit
(1,000)
(44,000)

The credit for the year can be reconciled to the loss per the profit and loss account as follows:

2025
2024
£
£
(Loss)/profit before taxation
(870,702)
209,649
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(217,676)
52,412
Tax effect of expenses that are not deductible in determining taxable profit
4,992
564
Adjustments in respect of prior years
-
0
(84,000)
Depreciation on assets not qualifying for tax allowances
23,929
13,545
Amortisation on assets not qualifying for tax allowances
4,272
4,272
Other
(37,114)
(37,793)
Pension scheme relief
-
0
7,000
Movement in deferred tax not recognised
220,597
-
Taxation credit
(1,000)
(44,000)

In addition to the amount credited to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Actuarial differences recognised as other comprehensive income
7,000
67,000
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 27 -
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
63,457
245,640
12
Intangible fixed assets
Group
Goodwill
Software
Customer list
Total
£
£
£
£
Cost
At 1 May 2024
581,346
503,396
16,000
1,100,742
Additions
-
0
18,274
-
0
18,274
Transfers
-
0
1,925
-
0
1,925
At 30 April 2025
581,346
523,595
16,000
1,120,941
Amortisation and impairment
At 1 May 2024
420,813
403,833
16,000
840,646
Amortisation charged for the year
27,635
61,100
-
0
88,735
At 30 April 2025
448,448
464,933
16,000
929,381
Carrying amount
At 30 April 2025
132,898
58,662
-
0
191,560
At 30 April 2024
160,533
99,563
-
0
260,096
The company had no intangible fixed assets at 30 April 2025 or 30 April 2024.
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 28 -
13
Tangible fixed assets
Group
Freehold land and buildings
Assets under construction
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2024
3,393,327
71,195
8,299,120
118,534
11,882,176
Additions
5,853
104,923
260,118
64,490
435,384
Disposals
-
0
-
0
(97,763)
-
0
(97,763)
Transfers
12,002
(34,236)
20,310
-
0
(1,924)
At 30 April 2025
3,411,182
141,882
8,481,785
183,024
12,217,873
Depreciation and impairment
At 1 May 2024
2,481,885
-
0
7,176,233
31,479
9,689,597
Depreciation charged in the year
105,552
-
0
402,785
34,444
542,781
Eliminated in respect of disposals
-
0
-
0
(97,763)
-
0
(97,763)
At 30 April 2025
2,587,437
-
0
7,481,255
65,923
10,134,615
Carrying amount
At 30 April 2025
823,745
141,882
1,000,530
117,101
2,083,258
At 30 April 2024
911,442
71,195
1,122,887
87,055
2,192,579
Company
Freehold land and buildings
£
Cost
At 1 May 2024 and 30 April 2025
950,000
Depreciation and impairment
At 1 May 2024
-
0
Depreciation charged in the year
47,500
At 30 April 2025
47,500
Carrying amount
At 30 April 2025
902,500
At 30 April 2024
950,000

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Plant and machinery
46,316
207,720
-
0
-
0
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
13
Tangible fixed assets
(Continued)
- 29 -

Included within freehold land and buildings is land of £94,060 (2024: £94,060) which is not depreciated.

14
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
27
-
0
-
0
6,400,508
7,147,666
Listed investments
1,004,205
1,009,392
1,004,205
1,009,392
1,004,205
1,009,392
7,404,713
8,157,058
Fixed asset investments revalued

Listed investments comprise investments in quoted securities which are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is based on the last available prices quoted as at close of business on the valuation date. The book cost of these investments as at the balance sheet date equate to £774,609 (2024 - £745,587).

Fixed asset investments not carried at market value

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at the carrying value of the net assets of the company to which they relate, assessed at each reporting date. Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity to the extent an investment held in a company is showing an insolvent net asset position, the value of the investment is fully impaired to nil.

Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 May 2024
1,009,392
Additions
249,808
Valuation changes
(17,267)
Disposals
(237,728)
At 30 April 2025
1,004,205
Carrying amount
At 30 April 2025
1,004,205
At 30 April 2024
1,009,392
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
14
Fixed asset investments
(Continued)
- 30 -
Movements in fixed asset investments
Company
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 May 2024
7,147,666
1,009,392
8,157,058
Additions
1,000
249,808
250,808
Valuation changes
(748,158)
(17,267)
(765,425)
Disposals
-
(237,728)
(237,728)
At 30 April 2025
6,400,508
1,004,205
7,404,713
Carrying amount
At 30 April 2025
6,400,508
1,004,205
7,404,713
At 30 April 2024
7,147,666
1,009,392
8,157,058
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
1,315,329
1,128,721
-
-
Work in progress
134,734
112,248
-
-
Finished goods and goods for resale
1,722,808
1,932,982
-
0
-
0
3,172,871
3,173,951
-
-
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,201,363
2,574,337
-
0
-
0
Amounts owed by group undertakings
-
-
9,313
32,974
Other debtors
103,254
205,219
-
0
-
0
Prepayments and accrued income
396,441
377,875
-
0
-
0
2,701,058
3,157,431
9,313
32,974
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 31 -
17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
441,406
532,317
-
0
-
0
Payable within one year
441,406
532,317
-
0
-
0

Bank loans are secured over group assets.

18
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
13,327
43,111
-
0
-
0
In two to five years
-
0
13,543
-
0
-
0
13,327
56,654
-
-
Less: future finance charges
(370)
(3,647)
-
0
-
0
12,957
53,007
-
0
-
0

Finance lease payments represent rentals payable by Arville Textiles Limited for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 2 years from inception. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Finance lease obligations are secured on the asset to which they relate.

19
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
17
441,406
532,317
-
0
-
0
Obligations under finance leases
18
12,957
39,834
-
0
-
0
Trade creditors
1,411,045
1,023,352
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
57,995
9,600
Other taxation and social security
221,650
224,063
-
-
Other creditors
4,730
4,538
-
0
-
0
Accruals and deferred income
669,679
535,441
11,048
24,070
2,761,467
2,359,545
69,043
33,670
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
19
Creditors: amounts falling due within one year
(Continued)
- 32 -

Bank loans are secured as detailed in note 17.

Obligations under finance leases are secured as detailed in note 18.

20
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
18
-
0
13,173
-
0
-
0

Obligations under finance leases are secured as detailed in note 18.

21
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
204,000
205,000
Other provisions
(6,000)
(6,000)
198,000
199,000
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 May 2024
199,000
-
Credit to profit or loss
(1,000)
-
Liability at 30 April 2025
198,000
-
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
243,716
237,550
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
22
Retirement benefit schemes
(Continued)
- 33 -

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

Defined benefit schemes

The group operates a defined benefit pension scheme; The Arville Textiles Limited Pension and Assurance Plan. The scheme was discontinued on 26 February 2006 and has been closed to future accruals of benefits since this date. A full actuarial valuation of the scheme was carried out as at 5 April 2022.

The following disclosures, required by FRS102, have been based on the most recent actuarial valuation as at 30 April 2025 carried out by First Actuarial using the following assumptions.

The scheme valuation as 30 April 2025 shows a surplus based on the assumptions set out below. The directors have determined that it is appropriate to recognise the surplus as, having reviewed the rules, they are of the opinion that the employer has an unconditional right to these surpluses.

2025
2024
Key assumptions
%
%
Discount rate
5.8
5.3
Expected rate of increase of pensions in payment
2.7
3.2
Mortality assumptions
2025
2024

Assumed life expectations on retirement at age 65:

Years
Years
Retiring today
- Males
87
87
- Females
89
89
Retiring in 20 years
- Males
88
87
- Females
90
90
2025
2024
Group
£
£
Present value of defined benefit obligations
2,401,000
2,619,000
Fair value of plan assets
(3,263,000)
(3,452,000)
Deficit in scheme
(862,000)
(833,000)
Other long term benefits balance to disclose
215,000
208,000
Total asset recognised
(647,000)
(625,000)
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
22
Retirement benefit schemes
(Continued)
- 34 -
The company had no post employment benefits at 30 April 2025 or 1 May 2024.
Group
2025
2024

Amounts recognised in the profit and loss account

£
£
Net interest on net defined benefit liability/(asset)
(42,000)
(26,000)
Other costs and income
69,000
54,000
Total costs
27,000
28,000

Amounts recognised in the profit and loss

Group
2025
2024

Amounts taken to other comprehensive income

£
£
Actual return on scheme assets
(31,000)
21,000
Less: calculated interest element
178,000
170,000
Return on scheme assets excluding interest income
147,000
191,000
Actuarial changes related to obligations
(203,000)
(487,000)
Total costs/(income)
(56,000)
(296,000)
Group
2025

Movements in the present value of defined benefit obligations

£
Liabilities at 1 May 2024
2,619,000
Benefits paid
(151,000)
Actuarial gains and losses
(203,000)
Interest cost
136,000
At 30 April 2025
2,401,000

The defined benefit obligations arise from plans which are wholly or partly funded.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
22
Retirement benefit schemes
(Continued)
- 35 -
Group
2025

Movements in the fair value of plan assets

£
Fair value of assets at 1 May 2024
3,452,000
Interest income
178,000
Return on plan assets (excluding amounts included in net interest)
(147,000)
Benefits paid
(151,000)
Other
(69,000)
At 30 April 2025
3,263,000

The actual return on plan assets was £31,000 (20 24: surplus £21,000).

Fair value of plan assets at the reporting period end

Group
2025
2024
£
£
Debt instruments
887,000
833,000
Diversified Credit Funds
468,000
610,000
Liability Druven Investment (LDI)
677,000
762,000
Annuities
158,000
168,000
Cash
22,000
64,000
Gifts
1,051,000
1,015,000
3,263,000
3,452,000

In July 2024 the Court of Appeal upheld a June 2023 High Court ruling that may have consequences for defined benefit pension schemes. The case, brought by the trustees of the NTL Pension Scheme against Virgin Media Ltd, considered the implications of section 37 (s37) of the Pension Schemes Act 1993, which required an actuary to certify amendments to scheme benefits for contracted-out schemes. Under section 9(2B) of the Act, schemes that were contracted out of the additional state pension were required to provide benefits at least equivalent to a minimum level laid out in a hypothetical “reference scheme”. This was known as the reference scheme test. When amendments were subsequently made, s37 of the Act required scheme actuaries to certify that the scheme still met this standard.

According to the court’s decision, any amendments to scheme benefits that affect members’ section 9(2B) rights during the relevant period will be void unless confirmation from the scheme actuary was obtained, in writing, when the amendment was made. The ruling may affect schemes that were contracted out of the additional state pension at any point between April 1997 and April 2016, when contracting out was abolished.

The Scheme was contracted out between April 1997 and April 2016, and therefore the ruling may affect the Scheme. However, the position remains uncertain. For example, the DWP may consider retrospective action to remove the impact of the ruling, and another Court case is due in 2025 which may have implications on the impact of the Virgin Media ruling. Given this uncertainty, it is not yet possible to quantify the potential impact of this ruling on the Scheme or on the Defined Benefit Obligation.

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 36 -
23
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,047
2,047
2,047
2,047

The holders of ordinary shares are entitled to receive ordinary dividends when declared and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company's residual assets.

24
Financial commitments, guarantees and contingent liabilities

The group is party to a cross company guarantee in respect of the bank facilities with Arville Textiles Limited, Arville Belting Limited. Arville Coating Limited & Arville Fabrication Limited. At the year end net bank indebtedness across these companies totalled £Nil (2024: £Nil).

As at the date of approval of the financial statements, no default has occurred which would trigger the above liabilities, nor is one anticipated. As such, the directors consider that the fair value of these obligations is £Nil and there is no recognition of a liability on the balance sheet.

25
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
32,173
83,295
-
-
Between two and five years
29,379
40,148
-
-
61,552
123,443
-
-

The company has no operating lease commitments.

26
Controlling party

The directors of Arville Holdings Limited do not consider there to be an ultimate controlling party.

27
Subsidiaries

Details of the company's subsidiaries at 30 April 2025 are as follows:

ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
27
Subsidiaries
(Continued)
- 37 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Arville Textiles Limited
England and Wales
Manufacture of industrial fabrics
Ordinary
100.00
Heathermist Limited
England and Wales
Dormant company
Ordinary
100.00
Arville Belting Limited
England and Wales
Manufacture of industrial fabrics
Ordinary
100.00
Arville Fabrication Limited
England and Wales
Manufacture of industrial fabric products
Ordinary
100.00
Arville Coating Limited
England and Wales
Manufacture of industrial textiles
Ordinary
100.00

The registered offices of these companies are all as per Arville Holdings Limited.

Arville Holdings Limited has, in accordance with s479C of the Companies Act 2006, provided a guarantee over the liabilities of its subsidiaries Arville Belting Limited, Arville Coating Limited Arville Fabrication Limited and Heathermist Limited which permits the subsidiaries to not obtain an audit of their individual financial statements for the period ended 30 April 2025, in accordance with the exemptions conferred by s479A Companies Act 2006. The registered office of the subsidiaries is Arville House, Sandbeck Way, Wetherby, United Kingdom, LS22 7DQ

28
Directors' transactions

Dividends totalling £3,224 (2024 - £12,480) were paid in the year in respect of shares held by the company's directors.

29
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
340,311
329,797
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
261,785
259,297
ARVILLE HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 38 -
30
Cash generated from group operations
2025
2024
£
£
(Loss)/profit for the year after tax
(869,702)
253,649
Adjustments for:
Taxation credited
(1,000)
(44,000)
Finance costs
39,652
45,752
Investment income
(66,026)
(69,556)
(Gain)/loss on disposal of tangible fixed assets
-
61
Amortisation and impairment of intangible assets
88,735
101,071
Depreciation and impairment of tangible fixed assets
542,781
485,435
Other gains and losses
17,267
(23,253)
Pension scheme non-cash movement
27,000
28,000
Movements in working capital:
Decrease in stocks
1,080
745,925
Decrease/(increase) in debtors
456,373
(57,374)
Increase/(decrease) in creditors
519,710
(238,545)
Cash generated from operations
755,870
1,227,165
31
Analysis of changes in net funds - group
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
601,088
122,087
723,175
Borrowings excluding overdrafts
(532,317)
90,911
(441,406)
Obligations under finance leases
(53,007)
40,050
(12,957)
15,764
253,048
268,812
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