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Registration number: 01771399

Stephen Jones Millinery Limited Unaudited Financial Statements for the Year Ended 31 March 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Stephen Jones Millinery Limited

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Financial Statements | 4 to 9

Stephen Jones Millinery Limited

Company Information

Directors | S Jones R A Jones S M Iredale

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Stephen Jones Millinery Limited

Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 7,772 | 9,719
Other financial assets | 6 | 1,008,475 | -
|  | 1,016,247 | 9,719
Current assets |  |  |
Stocks | 7 | 90,672 | 102,669
Debtors | 8 | 938,325 | 876,162
Cash at bank and in hand |  | 733,550 | 1,550,956
|  | 1,762,547 | 2,529,787
Creditors: Amounts falling due within one year | 9 | (126,282) | (126,245)
Net current assets |  | 1,636,265 | 2,403,542
Total assets less current liabilities |  | 2,652,512 | 2,413,261
Provisions for liabilities |  | (453) | (598)
Net assets |  | 2,652,059 | 2,412,663
Capital and reserves |  |  |
Called up share capital |  | 110 | 110
Retained earnings |  | 2,651,949 | 2,412,553
Shareholders' funds |  | 2,652,059 | 2,412,663

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Stephen Jones Millinery Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Stephen Jones Millinery Limited

Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 18 February 2026 and signed on its behalf by:

.........................................

S Jones

Director

Company registration number: 01771399

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of millinery and fashion design.

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date of £2,652,059, including cash at bank of £733,550
The company's products and consultancy services remain in demand and the directors do not anticipate any negative effects from the economic environment or global conflicts.
Having made enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises turnover from retail sales at the point of sale. Turnover from wholesale and online sales is recognised when the goods are despatched to customers once the significant risks and rewards of ownership are transferred to the buyer. Turnover from commission and consultancy is recognised based upon the stage of completion and entitlement to income.

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 25% reducing balance
Furniture, fittings and equipment | 15% reducing balance

Intangible assets

Separately acquired trademarks, licences and website development costs are shown at historical cost and have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment costs.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Website development costs | 4 years straight line

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company during the year, was 16 (2024 - 18).

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Website development costs £
Cost or valuation
At 1 April 2024 | 10,957
At 31 March 2025 | 10,957
Amortisation
At 1 April 2024 | 10,957
At 31 March 2025 | 10,957
Carrying amount
At 31 March 2025 | -

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 29,791 | 16,965 | 46,756
Disposals | (2,673) | - | (2,673)
At 31 March 2025 | 27,118 | 16,965 | 44,083
Depreciation
At 1 April 2024 | 22,337 | 14,700 | 37,037
Charge for the year | 1,072 | 566 | 1,638
Eliminated on disposal | (2,364) | - | (2,364)
At 31 March 2025 | 21,045 | 15,266 | 36,311
Carrying amount
At 31 March 2025 | 6,073 | 1,699 | 7,772
At 31 March 2024 | 7,454 | 2,265 | 9,719

6 | Other financial assets

| Quoted investments £ | Total £
Non-current financial assets
Fair value
Additions | 1,202,686 | 1,202,686
Revaluations | 9,256 | 9,256
Disposals | (203,467) | (203,467)
At 31 March 2025 | 1,008,475 | 1,008,475
Carrying amount
At 31 March 2025 | 1,008,475 | 1,008,475

7 | Stocks

| 2025 £ | 2024 £
Stocks | 90,672 | 102,669

Stephen Jones Millinery Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8 | Debtors

| 2025 £ | 2024 £
Trade debtors | 601,381 | 525,449
Other debtors | 336,944 | 350,713
| 938,325 | 876,162

9 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 10,637 | 5,174
Taxation and social security | 101,411 | 79,645
Other creditors | 14,234 | 41,426
| 126,282 | 126,245

10 | Commitments and guarantees

Operating leases

Minimum future operating lease commitments not reflected in the statement of financial position amounted to £25,000 (2024: £75,000).