Company registration number 05778485 (England and Wales)
PRESTIGE GIFTING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PRESTIGE GIFTING LIMITED
COMPANY INFORMATION
Directors
S D Crowther
J C Ridgard
(Appointed 29 October 2024)
P P Crowther
(Appointed 29 October 2024)
Company number
05778485
Registered office
G8 Dean Clough
G Mill Yard
Dean Clough Industrial Park
Halifax
West Yorkshire
HX3 5WD
Auditor
Afford Bond Holdings Limited
31 Wellington Road
Nantwich
Cheshire
CW5 7ED
Business address
G8 Dean Clough
G Mill Yard
Dean Clough Industrial Park
Halifax
West Yorkshire
HX3 5WD
Bankers
Barclays Bank PLC
Halifax Branch
39/47 Commercial Street
Halifax
HX1 1BE
PRESTIGE GIFTING LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 24
PRESTIGE GIFTING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The directors present the strategic report for the year ended 31 July 2025.

Fair review of the business

The directors are pleased to report that strong financial performance over recent years has resumed in 2025. Key financial indicators, which reflect the financial performance and position of the company during the year include turnover, net assets and average number of employees: turnover has increased by £2,633,732 (2024: £75,781 decrease) to £43,437,744 (2024: £40,804,012); whilst net assets have increased by 51.74% (2024: 7.12% decrease) to £3,609,775 (2024: £2,378,848); and the average number of employees has risen to 75 (2024: 69).

Principal risks and uncertainties

The company has exposure to the general risks and uncertainties over the state of the economy as a whole and the specific external pressures facing the non-essential retail sector which may impact upon the performance of the business from time to time. Overall levels of customer confidence and disposable income are important areas for us to monitor as they affect the spending power of our customers which has a knock-on effect on our operational performance.

The directors use timely management accounts information and budgeting and forecasting techniques to help to mitigate, as far as possible, all known risks and allow for an adequate level of resources to deal with any unknown risks which may arise. Tight financial controls and the availability of a few different sources of funding, along with the close day-to-day involvement of the directors, helps the company to minimise liquidity risks.

Development and performance

The directors are aware that the planned responses required to the principal risks and uncertainties mentioned above, including unforeseen events outside of their control, can necessitate their plans for growth and future development to change at short notice. Although short term plans may have to be delayed or altered, the medium to long term plans can largely remain on course.

Our performance is reflected in the profit and loss account and associated notes, with the headline figures noted above in the fair review of the business and an analysis of key performance indicators noted below. The directors are looking to build upon their recent success and continue to grow the company over the coming years. The company is in a much stronger position for achieving its growth aspirations after becoming part of the Prestige Flowers Group during the year.

Key performance indicators

In addition to the comments noted above, the directors consider other key performance indicators to be profitability, liquidity and return on capital. Profitability, calculated as profit after tax over turnover, has increased to 2.83% (2024: 1.69%) due to a reduction in exceptional items. Liquidity, calculated as current assets over current liabilities, has risen to 2.33 (2024: 1.99) as a result of assisting the immediate and ultimate parent company, Prestige Flowers Group Limited (formerly known as Hamsard 3783 Limited), with their financing needs, as well as the company being required to provide financial help to its fellow subsidiary company, Flowerline Limited, although the company can still comfortably meet its current liabilities as the current assets sufficiently cover them. Return on capital, calculated as profit after tax over net assets has risen to 34.10% (2024: 29.05%). The directors anticipate achieving further efficiency gains following the formation of Prestige Flowers Group.

Summary

The directors are pleased with the performance and financial position of the company again this year and consider that, with continuing support from the group and its staff, the company is well placed to be able to grow even more in the future as conditions allow.

On behalf of the board

20 January 2026
S D Crowther
Director
PRESTIGE GIFTING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 July 2025.

Principal activities

The principal activity of the company continues to be that of online retailers of flowers, hampers and other gifts.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

S D Crowther
J A Miskell
(Resigned 29 October 2024)
A M Miskell
(Resigned 29 October 2024)
C Miskell
(Resigned 29 October 2024)
J C Ridgard
(Appointed 29 October 2024)
P P Crowther
(Appointed 29 October 2024)
Financial instruments
Financial instruments

The company uses management accounts, budgeting and forecasting techniques to manage the liquidity, interest and foreign currency risks associated with the company’s activities.

The company’s principal financial instruments used are basic financial instruments, as there are minimal currency risks and interest rate risks arising from the company’s activities, with bank overdrafts and loan facilities available, the main purpose of which is to raise finance for the company’s operations. T he company has various financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The company tries to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.

Foreign currency risk

The company’s principal foreign currency exposures arise from trading with overseas companies. Company policy permits but does not demand that these exposures may be hedged in order to fix the cost in sterling. The foreign exchange rate variance amount in the profit and loss account is monitored each year to determine the requirement for any intervention regarding managing the outcomes of this risk.

Credit risk

Investments of cash surpluses, borrowings and other financing option s are made through banks and companies which must fulfil credit rating criteria approved by the b oard of directors.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

PRESTIGE GIFTING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
Future developments

The company became part of the Prestige Flowers Group during the year, with its main supplier, Flowerline Limited, being a fellow subsidiary. It is anticipated that by pooling resources, knowledge and experience, as well as having the security of intercompany loan finance being available as required, all businesses will benefit from joining forces, and continue to grow.

Auditor

The auditor, Afford Bond Holdings Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

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 company and of 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 judgements and accounting estimates that are reasonable and prudent; and

- 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.

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 company’s auditor 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 company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
20 January 2026
S D Crowther
Director
PRESTIGE GIFTING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRESTIGE GIFTING LIMITED
- 4 -
Opinion

We have audited the financial statements of Prestige Gifting Limited (the 'company') for the year ended 31 July 2025 which comprise the statement of income and retained earnings, the balance sheet, the 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 Financial Reporting Standard 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 31 July 2025 and of its profit 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 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 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.

PRESTIGE GIFTING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRESTIGE GIFTING LIMITED (CONTINUED)
- 5 -
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 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, 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' 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 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 our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit is 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, to detect material misstatements in respect of irregularities, including fraud.

Our procedures are developed based on risks identified from our knowledge of the entity, its environment, the significant laws and regulations governing its activities and of the related parties and service organisations connected with it. We also consider how the systems and controls the entity has put in place over its activities might mitigate risks identified.

Audit response to risks identified

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

- Enquiry of management, those charged with governance around actual and potential litigation and claims.

- Reviewing minutes of meetings of those charged with governance.

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

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

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.

PRESTIGE GIFTING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRESTIGE GIFTING LIMITED (CONTINUED)
- 6 -

Use of our report

This report is made solely to the company's member 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 the member 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, for our audit work, for this report, or for the opinions we have formed.

David Bailey BA(Econ) FCA (Senior Statutory Auditor)
For and on behalf of Afford Bond Holdings Limited, Statutory Auditor
Chartered Accountants
31 Wellington Road
Nantwich
Cheshire
CW5 7ED
20 January 2026
PRESTIGE GIFTING LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
2025
2024
Notes
£
£
Turnover
4
43,437,744
40,804,012
Cost of sales
(24,463,383)
(23,465,016)
Gross profit
18,974,361
17,338,996
Administrative expenses
(17,095,212)
(15,345,384)
Exceptional item
3
(167,224)
(1,211,388)
Operating profit
5
1,711,925
782,224
Interest receivable and similar income
8
17,275
46,138
Interest payable and similar expenses
9
-
0
(989)
Amounts written off investments
10
(99)
-
Profit before taxation
1,729,101
827,373
Tax on profit
11
(498,174)
(136,383)
Profit for the financial year
1,230,927
690,990
Retained earnings brought forward
2,378,748
2,561,023
Dividends
12
-
0
(873,265)
Retained earnings carried forward
3,609,675
2,378,748
PRESTIGE GIFTING LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
243,792
324,155
Investments
14
-
0
100
243,792
324,255
Current assets
Stocks
16
8,597
-
Debtors
17
5,456,040
3,419,598
Cash at bank and in hand
560,787
807,064
6,025,424
4,226,662
Creditors: amounts falling due within one year
19
(2,618,941)
(2,120,969)
Net current assets
3,406,483
2,105,693
Total assets less current liabilities
3,650,275
2,429,948
Provisions for liabilities
Deferred tax liability
21
40,500
51,100
(40,500)
(51,100)
Net assets
3,609,775
2,378,848
Capital and reserves
Called up share capital
22
100
100
Profit and loss reserves
3,609,675
2,378,748
Total equity
3,609,775
2,378,848

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 20 January 2026 and are signed on its behalf by:
S D Crowther
Director
Company registration number 05778485 (England and Wales)
PRESTIGE GIFTING LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
1,074,266
1,759,005
Interest paid
-
0
(989)
Income taxes paid
(250,488)
(315,687)
Net cash inflow from operating activities
823,778
1,442,329
Investing activities
Purchase of tangible fixed assets
(27,330)
(42,255)
Proceeds from disposal of subsidiaries
1
-
0
Loans made
(1,060,001)
(528,945)
Interest received
17,275
46,138
Net cash used in investing activities
(1,070,055)
(525,062)
Financing activities
Dividends paid
-
0
(873,265)
Net cash used in financing activities
-
(873,265)
Net (decrease)/increase in cash and cash equivalents
(246,277)
44,002
Cash and cash equivalents at beginning of year
807,064
763,062
Cash and cash equivalents at end of year
560,787
807,064
PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 10 -
1
Accounting policies
Company information

Prestige Gifting Limited is a private company limited by shares incorporated in England and Wales. The registered office is G8 Dean Clough, G Mill Yard, Dean Clough Industrial Park, Halifax, West Yorkshire, HX3 5WD.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “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 company. Monetary a mounts in these financial statements are rounded to the nearest £.

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

1.2
Reallocations

Further to the company becoming a wholly owned subsidiary of Prestige Flowers Group Limited from 29 October 2024, reclassification of certain costs and expenses has had to occur this year, with the comparatives amended to match, to enable the facilitation of the consolidation process for the group accounts by aligning the categories used across the group. The profit after tax figure has not changed.

1.3
Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.4
Going concern

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

1.5
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 11 -

The company recognises revenue from the following major sources:

- Website postal bouquets

- Website hampers and gifts

- Online marketplace sales

- Corporate sales

- Retail outlet sales

- Other sales including carriage and distribution income

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

Revenue from the provision of services arises as a result of recharging expenditure to other group companies or connected entities, which is recognised when the decision to pass on the cost has been made. Recharges are measured at cost, to offset the expenditure incurred at no gain or loss.

Other income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.6
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.

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:

Plant and machinery
20% per annum straight line
Fixtures, fittings and equipment
20% per annum straight line
Computer equipment
20% per annum 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 credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 12 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

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 at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
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.

Cost is calculated using the first in first out method.

At each reporting date, an assessment is made for impairment. 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. Reversals of impairment losses are also recognised in profit or loss.

1.10
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.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 13 -
1.11
Financial instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 method 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.

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 company 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 company after deducting all of its liabilities.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 14 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

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 s ubsequently 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.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the company 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 company.

1.13
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 15 -
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 end 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 when the company has 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.

1.14
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.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases
As lessee

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

1.17
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 end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’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.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 16 -
3
Exceptional item
2025
2024
£
£
Expenditure
Amounts due from subsidiary written off
167,224
1,211,388
4
Turnover and other revenue

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

2025
2024
£
£
Turnover analysed by class of business
Website postal bouquets
35,499,995
33,222,522
Website hampers and gifts
4,993,117
4,626,084
Online marketplace sales
1,080,970
742,686
Corporate sales
1,678,850
2,031,471
Retail outlet sales
93,051
146,423
Other sales including carriage and distribution income
91,761
34,826
43,437,744
40,804,012
2025
2024
£
£
Turnover analysed by geographical market
UK
43,437,744
40,804,012
2025
2024
£
£
Other significant revenue
Interest income
17,275
46,138
5
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Exchange losses
2
9
Fees payable to the company's auditor for the audit of the company's financial statements
9,250
9,000
Depreciation of tangible fixed assets
107,693
107,072
Operating lease charges
268,831
203,615
PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 17 -
6
Employees

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

2025
2024
Number
Number
Administration
75
69

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,801,257
2,467,469
Social security costs
305,910
243,291
Pension costs
134,237
105,944
3,241,404
2,816,704
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
368,337
280,000
Company pension contributions to defined contribution schemes
9,210
7,023
377,547
287,023

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
198,899
200,000
Company pension contributions to defined contribution schemes
4,623
3,522
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
17,275
46,138
PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 18 -
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
989
10
Amounts written off investments
2025
2024
£
£
Other gains and losses
(99)
-
11
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
508,774
138,683
Deferred tax
Origination and reversal of timing differences
(10,600)
(2,300)
Total tax charge
498,174
136,383

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,729,101
827,373
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
432,275
206,843
Tax effect of expenses that are not deductible in determining taxable profit
56,089
297,762
Tax effect of utilisation of tax losses
-
0
(220,778)
Group relief
-
0
(161,348)
Depreciation
26,923
26,768
Capital allowances claim
(6,538)
(10,564)
Deferred tax movement
(10,600)
(2,300)
Loss on disposal
25
-
0
Taxation charge for the year
498,174
136,383
12
Dividends
2025
2024
£
£
Interim paid
-
0
873,265
PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 19 -
13
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 August 2024
-
0
421,662
161,888
583,550
Additions
3,700
913
22,717
27,330
At 31 July 2025
3,700
422,575
184,605
610,880
Depreciation and impairment
At 1 August 2024
-
0
150,510
108,885
259,395
Depreciation charged in the year
208
84,363
23,122
107,693
At 31 July 2025
208
234,873
132,007
367,088
Carrying amount
At 31 July 2025
3,492
187,702
52,598
243,792
At 31 July 2024
-
0
271,152
53,003
324,155
14
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
15
-
0
100
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 August 2024
100
Disposals
(100)
At 31 July 2025
-
Carrying amount
At 31 July 2025
-
At 31 July 2024
100

On 29 October 2024, the company sold all of its shares in Next Level Bar Limited as part of a group reorganisation.

15
Subsidiaries

On 29 October 2024, the company sold its 100% holding in Next Level Bar Limited, consisting of 100 ordinary shares of £1 each, for consideration of £1.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 20 -
16
Stocks
2025
2024
£
£
Finished goods and goods for resale
8,597
-
0
17
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
392,604
475,268
Corporation tax recoverable
947,444
727,004
Amounts owed by group undertakings
785,024
300,000
Other debtors
3,108,612
1,748,270
Prepayments and accrued income
222,356
169,056
5,456,040
3,419,598
18
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
4,286,240
2,523,538
Carrying amount of financial liabilities
Measured at amortised cost
1,518,258
1,835,321
19
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,306,160
1,804,944
Corporation tax
478,726
-
0
Other taxation and social security
621,957
285,648
Other creditors
33,750
3,588
Accruals and deferred income
178,348
26,789
2,618,941
2,120,969
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
134,237
105,944

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

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 21 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
40,500
51,100
2025
Movements in the year:
£
Liability at 1 August 2024
51,100
Credit to profit or loss
(10,600)
Liability at 31 July 2025
40,500

The deferred tax liability set out above is expected to reverse within five years and relates to accelerated capital allowances that are expected to mature within the same period.

22
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
5
100
5
Ordinary A shares of £1 each
0
45
-
0
45
Ordinary B shares of £1 each
0
45
-
0
45
Ordinary C shares of £1 each
0
5
-
0
5
100
100
100
100

A re-designation of share capital occurred on 29 October 2024.

23
Financial commitments, guarantees and contingent liabilities

Group loans are secured by way of a charge over the assets of the company dated 29 October 2024.

24
Operating lease commitments
As lessee

Operating lease payments represent rentals payable by the company for certain of its land and buildings and motor vehicles. Leases were negotiated with a notice period or commitment ranging from three months to three or four years.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
24
Operating lease commitments
(Continued)
- 22 -

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

2025
2024
£
£
Within 1 year
138,504
82,601
Years 2-5
115,406
98,922
253,910
181,523

At the reporting end date the total future minimum sublease payments expected to be received under non-cancellable subleases was £182,946 (2024: £nil).

25
Directors' transactions

Dividends totalling £0 (2024 - £873,265) were paid in the year in respect of shares held by the company's directors.

Interest free loans have been granted by the company to its directors as follows:

Loans
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Interest free loan
-
1,747,239
1,060,001
2,807,240
1,747,239
1,060,001
2,807,240
26
Ultimate controlling party

The immediate and ultimate parent company is Prestige Flowers Group Limited (formerly Hamsard 3783 Limited), a company incorporated in England and Wales whose registered office is G8 G Mill, Dean Clough Mills, Halifax, West Yorkshire, HX3 5WD.

On 29 October 2024 the company became a wholly owned subsidiary of Prestige Flowers Group Limited.

The company's results are included within the group accounts of its immediate and ultimate parent company, Prestige Flowers Group Limited, which are filed with Companies House.

27
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
27
Related party transactions
(Continued)
- 23 -
Purchases of goods
2025
2024
£
£
Other related parties
17,978,925
17,293,146
Services provided
Services received
2025
2024
2025
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
102,146
-
-
-
Other related parties
61,798
12,269
59,893
-

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Other related parties
152,504
7,652
2025
2025
2025
Balance
Provision
Net
Amounts due from related parties
£
£
£
Entities with control, joint control or significant influence over the company
185,024
-
185,024
Entities over which the entity has control, joint control or significant influence
467,224
167,224
300,000
Other related parties
600,000
-
600,000
2024
2024
2024
Balance
Provision
Net
Amounts due in previous period
£
£
£
Entities over which the entity has control, joint control or significant influence
1,511,388
1,211,388
300,000
Other related parties
1,563
-
1,563

Sales and purchases of goods and services were made between related parties at market price.

The amounts outstanding are unsecured and will be settled in cash as and when cash flows permit.

PRESTIGE GIFTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 24 -
28
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,230,927
690,990
Adjustments for:
Taxation charged
498,174
136,383
Finance costs
-
0
989
Investment income
(17,275)
(46,138)
Depreciation and impairment of tangible fixed assets
107,693
107,072
Other gains and losses
99
-
Movements in working capital:
Increase in stocks
(8,597)
-
0
(Increase)/decrease in debtors
(756,001)
764,665
Increase in creditors
19,246
105,044
Cash generated from operations
1,074,266
1,759,005
29
Analysis of changes in net funds
1 August 2024
Cash flows
31 July 2025
£
£
£
Cash at bank and in hand
807,064
(246,277)
560,787
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