Company registration number 05876585 (England and Wales)
RAPPORT HOME FURNISHINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
RAPPORT HOME FURNISHINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
RAPPORT HOME FURNISHINGS LTD
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
6,583
22,382
Tangible assets
5
40,464
83,263
47,047
105,645
Current assets
Stocks
668,097
714,398
Debtors
6
491,463
482,685
Cash at bank and in hand
4,343,780
5,445,366
5,503,340
6,642,449
Creditors: amounts falling due within one year
7
(2,226,679)
(2,946,940)
Net current assets
3,276,661
3,695,509
Total assets less current liabilities
3,323,708
3,801,154
Provisions for liabilities
(307,001)
(307,001)
Net assets
3,016,707
3,494,153
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
3,016,507
3,493,953
Total equity
3,016,707
3,494,153
RAPPORT HOME FURNISHINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 January 2026 and are signed on its behalf by:
P B Virani
Director
Company registration number 05876585 (England and Wales)
RAPPORT HOME FURNISHINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2023
200
1,796,119
1,828,257
3,624,576
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
25,553
25,553
Dividends
-
-
(460,000)
(460,000)
Transfers
-
(1,796,119)
1,796,119
-
Realisation of revaluation reserve on disposal
-
-
304,024
304,024
Balance at 30 April 2024
200
-
0
3,493,953
3,494,153
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
22,554
22,554
Dividends
-
-
(500,000)
(500,000)
Balance at 30 April 2025
200
-
0
3,016,507
3,016,707
RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
1
Accounting policies
Company information

The company is a private company limited by shares and is incorporated in England. The registered office is 2nd Floor, Regis House, 45 King William Street, London, EC4R 9AN and its principal place of business is 23 Cosgrove Way, Luton, Bedfordshire, LU1 1XL.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have considered trading up to the date of signing these financial statements and to date revenues have proved resilient. true

The directors have also considered the certainty of future cash flows in light of rising inflation for 2025/2026.

A 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.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover relates to the sale of home textiles.

1.4
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
3 years straight line
RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.5
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 equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
20% on cost

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.

1.6
Stocks

Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow arrangements and defined contribution pension plans.

1.7
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.

1.8
Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

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.

1.9
Taxation

Taxation expense for the period comprises current and deterred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
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.

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.

1.10
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.11
Employee benefits

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

(i) Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(iii) Defined contribution pension plans

The company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the Company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

1.12
Leases

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.

RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 7 -
1.13
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.

Critical judgements

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

Impairment of Debtors

The company makes an estimate of the recoverable value of its debtors, including inter-company and other debtors. When assessing impairment of debtors, management considers factors including any history of non-payment by the counter-party or any other factors which indicate that they may not be able to settle their obligation to the company in full.

Impairment of Inventories

The company makes an estimate of the stock obsolescence. When assessing the impairment of inventories, management considers factors including future selling price of stock and expected demand and best before dates of goods for resale.

Useful economic lives of inventories

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement future investments, economic utilisation and the physical condition of the assets.

3
Employees

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

2025
2024
Number
Number
Total
28
28
RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
4
Intangible fixed assets
Other
£
Cost
At 1 May 2024 and 30 April 2025
47,397
Amortisation and impairment
At 1 May 2024
25,015
Amortisation charged for the year
15,799
At 30 April 2025
40,814
Carrying amount
At 30 April 2025
6,583
At 30 April 2024
22,382
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
44,855
315,856
339,096
699,807
Additions
749
2,018
-
0
2,767
Disposals
-
0
-
0
(34,100)
(34,100)
At 30 April 2025
45,604
317,874
304,996
668,474
Depreciation and impairment
At 1 May 2024
41,462
283,361
291,721
616,544
Depreciation charged in the year
1,036
10,219
34,311
45,566
Eliminated in respect of disposals
-
0
-
0
(34,100)
(34,100)
At 30 April 2025
42,498
293,580
291,932
628,010
Carrying amount
At 30 April 2025
3,106
24,294
13,064
40,464
At 30 April 2024
3,393
32,495
47,375
83,263
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
406,646
408,129
Amounts owed by group undertakings
28,575
28,575
Other debtors
56,242
45,981
491,463
482,685
RAPPORT HOME FURNISHINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
210,241
137,883
Amounts owed to group undertakings
405,000
565,000
Corporation tax
33,006
503,570
Other taxation and social security
22,276
63,454
Other creditors
1,556,156
1,677,033
2,226,679
2,946,940
8
Financial commitments, guarantees and contingent liabilities

The company has contingent liabilities in respect of a duty deferment guarantee of £50,000 (2024: £50,000) in favour of HM Revenue and Customs.

The company operates under a cross guarantee and debenture dated 22 September 2020 given by Virsons Ltd, Rapport Holdings Limited and Rapport Home Furnishings Limited.

9
Related party transactions

The company has taken the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10
Directors' transactions

At the balance sheet date, the directors were owed £nil (2024: £40,007) from the company.

11
Parent company

The ultimate controlling company is Rapport Holdings Limited, a company incorporated in the United Kingdom and its registered office is 2nd Floor, Regis House, 45 King William Street, London, EC4R 9AN.

The ultimate controlling company is under the control of its directors, by virtue of their beneficial interest in the issued share capital of that company.

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