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Company No: 03530530 (England and Wales)

# GOURMET CLASSIC LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

GOURMET CLASSIC LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

GOURMET CLASSIC LIMITED

## BALANCE SHEET

As at 31 December 2025
GOURMET CLASSIC LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3, 4 | 1,130,236 |  | 309,855
|  | 1,130,236 |  | 309,855
Current assets |  |  |  |
Stocks | 5 | 468,777 |  | 525,910
Debtors | 6 | 845,238 |  | 861,065
Cash at bank and in hand |  | 56,846 |  | 101,257
|  | 1,370,861 |  | 1,488,232
Creditors: amounts falling due within one year | 7 | ( 1,278,519) |  | ( 1,341,800)
Net current assets |  | 92,342 |  | 146,432
Total assets less current liabilities |  | 1,222,578 |  | 456,287
Creditors: amounts falling due after more than one year | 8 | ( 807,053) |  | ( 284,976)
Net assets |  | 415,525 |  | 171,311
Capital and reserves |  |  |  |
Called-up share capital | 10 | 60 |  | 60
Capital redemption reserve |  | 40 |  | 40
Profit and loss account |  | 415,425 |  | 171,211
Total shareholders' funds |  | 415,525 |  | 171,311

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

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gourmet Classic Limited (registered number: 03530530) were approved and authorised for issue by the Director on 30 April 2026. They were signed on its behalf by:

K T l'Anson Director |

GOURMET CLASSIC LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
GOURMET CLASSIC LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Gourmet Classic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 Endeavour Park, Crow Arch Lane, Ringwood, Hampshire, BH24 1SF, UK.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Employee benefits

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

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings | 10 years straight line
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 10 years straight line
Office equipment | 1 years straight line
| 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases and right of use assets

At the inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
The lease liability is initially measured at the present value of future lease payments due over the lease term, discounted at the rate implicit in the lease or, if not readily determinable, the Company's incremental borrowing rate. Lease payments include fixed payments, variable lease payments that depend on an index or a tax and amounts reasonably expected to be payable over the life of the lease.
The right of use asset is initially measured at the initial amount of the lease liability and is adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle or restore the underlying asset, less any lease incentives received.
The lease liability is subsequently measured at amortised cost using the effective interest method, with an interest expense recognised in the profit or loss.
After initial recognition, the right of use asset is depreciated on a straight line basis over the shorter of the asset's useful life or the lease term. The right of use assets are subject to impairment reviews in accordance with the Company's policy on the impairment of non financial assets.
It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if the Company changes its assessment of whether it will exercise a purchase, extension, or termination option. When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right of use asset. In any case an equivalent adjustment is made to the carrying value of the right of use asset, with the revised carrying amount being amortised over the remaining (revised) lease term. If the carrying amount of the right of use asset is adjusted to zero, any further reduction is recognised in the profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

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

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 21 |  | 27

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 101,117 |  | 2,033,206 |  | 97,292 |  | 128,428 |  | 102,083 |  | 2,462,126
At 31 December 2025 | 101,117 |  | 2,033,206 |  | 97,292 |  | 128,428 |  | 102,083 |  | 2,462,126
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 97,021 |  | 1,821,262 |  | 29,902 |  | 105,058 |  | 99,028 |  | 2,152,271
Charge for the financial year | 4,096 |  | 52,986 |  | 16,847 |  | 6,399 |  | 763 |  | 81,091
At 31 December 2025 | 101,117 |  | 1,874,248 |  | 46,749 |  | 111,457 |  | 99,791 |  | 2,233,362
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 December 2025 | 0 |  | 158,958 |  | 50,543 |  | 16,971 |  | 2,292 |  | 228,764
At 31 December 2024 | 4,096 |  | 211,944 |  | 67,390 |  | 23,370 |  | 3,055 |  | 309,855

#### 4. Right of use assets

| Land and buildings |  | Plant and machinery |  | Total
| £ |  | £ |  | £
Cost
At 01 January 2025 | 0 |  | 0 |  | 0
Additions | 860,487 |  | 137,073 |  | 997,560
At 31 December 2025 | 860,487 |  | 137,073 |  | 997,560
Accumulated depreciation
At 01 January 2025 | 0 |  | 0 |  | 0
Charge for the financial year | 88,255 |  | 7,833 |  | 96,088
At 31 December 2025 | 88,255 |  | 7,833 |  | 96,088
Net book value
At 31 December 2025 | 772,232 |  | 129,240 |  | 901,472
At 31 December 2024 | 0 |  | 0 |  | 0

The right-of-use assets are included in the Tangible fixed assets on the balance sheet.

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 468,777 |  | 525,910

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 767,294 |  | 765,322
Prepayments and accrued income | 20,279 |  | 32,475
VAT recoverable | 26,610 |  | 39,372
Other debtors | 31,055 |  | 23,896
| 845,238 |  | 861,065

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 241,667 |  | 260,000
Trade creditors | 227,395 |  | 140,328
Amounts owed to Group undertakings | 75,500 |  | 0
Amounts owed to director | 0 |  | 54,882
Accruals | 164,150 |  | 350,635
Taxation and social security | 149,686 |  | 32,421
Lease liabilities (secured £23,876) (note 9) | 92,618 |  | 0
Obligations under finance leases and hire purchase contracts (secured £189,775) | 203,084 |  | 390,024
Other creditors | 124,419 |  | 113,510
| 1,278,519 |  | 1,341,800

Secured creditors
Within finance leases and hire purchases, £189,775 (2024 - £353,446) relates to invoice factoring and is secured over trade debtors.
Bank borrowings are secured by a fixed charge over all present freehold and leasehold property, book and other debts and by a first floating charge over all assets both present and future.
Finance lease liabilities are secured by a fixed charge over the assets to which they relate.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 30,000 |  | 271,667
Lease liabilities (secured £49,493) (note 9) | 777,053 |  | 0
Obligations under finance leases and hire purchase contracts | 0 |  | 13,309
| 807,053 |  | 284,976

Secured creditors
Within bank loans, £30,000 (2024 - £271,667) relates to Covid-19 loans and start up loans.
Bank borrowings are secured by a fixed charge over all present freehold and leasehold property, book and other debts and by a first floating charge over all assets both present and future.
Finance lease liabilities are secured by a fixed charge over the assets to which they relate.

#### 9. Lease liabilities

| 2025 |  | 2024
| £ |  | £
Lease liabilities due within 1 year | 92,618 |  | 0
Lease liabilities due after 1 year | 777,053 |  | 0
| 869,671 |  | 0

The lease liabilities are included in the creditors due within 1 year and creditors due after 1 year on the balance sheet.

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
60 Ordinary shares of £ 1.00 each | 60 |  | 60

#### 11. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 0 |  | 1,189,500

The total amount of financial commitments not included in the balance sheet is Nil (2024: £1,189,500). All non-cancellable operating leases are recorded in the balance sheet following early adoption of FRS20 - leases.

#### 12. Ultimate controlling party

Gourmet Holdings Limited, with address Apartment 9 The Old Auction House, 54-56 Southampton Road, Ringwood, Hampshire, United Kingdom, BH24 1JD, became a parent of Gourmet Classic Limited on 04 April 2025.