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Company Registration Number: 12288408 SE RETAIL LTD FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
SE RETAIL LTD REGISTERED NUMBER: 12288408 STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
|  | 31 July |  | 31 March
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 554,271 |  | 41,908
|  |  | 554,271 |  | 41,908
Current assets |  |  |  |  |
Stocks | 5 | 1,178,909 |  | - |
Debtors: amounts falling due within one year | 6 | 752,545 |  | 49,695 |
Cash at bank and in hand | 7 | 1,007,317 |  | 94,068 |
|  | 2,938,771 |  | 143,763 |
Creditors: amounts falling due within one year | 8 | (781,429) |  | (148,153) |
Net current assets/(liabilities) |  |  | 2,157,342 |  | (4,390)
Total assets less current liabilities |  |  | 2,711,613 |  | 37,518
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (72,611) |  | - |
|  |  | (72,611) |  | -
Net assets |  |  | 2,639,002 |  | 37,518
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | 2,638,902 |  | 37,418
|  |  | 2,639,002 |  | 37,518
Page 1
SE RETAIL LTD REGISTERED NUMBER: 12288408 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 JULY 2025 The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 December 2025.
Andrew Duckworth
Director
The notes on pages 4 to 10 form part of these financial statements. Page 2
SE RETAIL LTD STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2024 | 100 | 37,419 | 37,519
Comprehensive income for the period |  |  |
Profit for the period | - | 5,351,499 | 5,351,499
Total comprehensive income for the period | - | 5,351,499 | 5,351,499
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (2,750,016) | (2,750,016)
At 31 July 2025 | 100 | 2,638,902 | 2,639,002
| The notes on pages 4 to 10 form part of these financial statements.
Page 3
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
1. | General information
SE Retail Ltd is a private company limited by shares incorporated in England and Wales. The address of the registered office is 378-380 Deansgate, Manchester, England, M3 4LY. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
Based on current bank balances, facilities, funding and current trading, the directors believe that the company will be able to meet its debts as they fall due for the period of 12 months after the approval of these financial statements. They have therefore prepared the financial statements on a going concern basis.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 4
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Current and deferred taxation
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 and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 15% |
|  |  |  | Fixtures and fittings | - | 15% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 5
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is 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.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 6
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
3. | Employees
| The average monthly number of employees, including the directors, during the period was as follows:
|  |  | 16 Months ended 31 July | Unaudited 31 March
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employee | 33 | 1
4. | Tangible fixed assets
|  | Plant and machinery | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 41,908 | - | 41,908
| Additions | 487,092 | 113,396 | 600,488
| At 31 July 2025 | 529,000 | 113,396 | 642,396
| Depreciation |  |  |
| Charge for the period on owned assets | 82,615 | 5,510 | 88,125
| At 31 July 2025 | 82,615 | 5,510 | 88,125
| Net book value |  |  |
| At 31 July 2025 | 446,385 | 107,886 | 554,271
| At 31 March 2024 | 41,908 | - | 41,908
Page 7
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
5. | Stocks
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 593,208 | -
| Finished goods and goods for resale | 585,701 | -
|  | 1,178,909 | -
6. | Debtors
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 719,415 | 49,695
| Prepayments and accrued income | 33,130 | -
|  | 752,545 | 49,695
7. | Cash and cash equivalents
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,007,317 | 94,068
|  | 1,007,317 | 94,068
Page 8
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | (5,694) | 4,153
| Corporation tax | 528,749 | -
| Other taxation and social security | 198,506 | -
| Other creditors | 710 | 144,000
| Accruals and deferred income | 59,158 | -
|  | 781,429 | 148,153
9. | Deferred taxation
|  | 2025
|  | £
| Charged to profit or loss | (72,611)
| At end of year | (72,611)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (62,134) | -
| Over provided prior year | (10,477) | -
|  | (72,611) | -
Page 9
SE RETAIL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
10. | Share capital
|  |  |  |  | 31 July | 31 March
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 88 (2024 - 88) A Ordinary shares of £1.00 each | 88 | 88
|  | 5 (2024 - 5) B Ordinary shares of £1.00 each | 5 | 5
|  | 5 (2024 - 5) C Ordinary shares of £1.00 each | 5 | 5
|  | 1 (2024 - 1) D Ordinary share of £1.00 | 1 | 1
|  | 1 (2024 - 1) E Ordinary share of £1.00 | 1 | 1
|  |  | 100 | 100
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,065 (2024 - £Nil). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
12. | Related party transactions
| Noted Aromas Ltd sold to SE Retail Ltd their fixed assets for £330,382.33 before the year end and the value was fully paid before 31 July 2025.
13. | Post balance sheet events
On 8 September 2025 the shares of the company were aquired by NA Bidco Limited.
14. | Provisions available for audits of small entities
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15. | Auditors' information
The auditors' report on the financial statements for the period ended 31 July 2025 was unqualified. The audit report was signed on 18 December 2025 by Michael Morris (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.
Page 10