Registration number:
Wrendale Group Limited
for the Year Ended 31 October 2025
Wrendale Group Limited
Contents
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Wrendale Group Limited
Strategic Report for the Year Ended 31 October 2025
The directors present their strategic report for the year ended 31 October 2025.
Principal activity
The principal activity of the company is that of a holding company.
The principal activity of the group is that of the sale of cards, stationery, home and giftware items designed by Hannah Dale.
Fair review of the business
We are pleased with the results of the group in the year ended 31 October 2025. As forecast, turnover and gross profit margins have been maintained in the period. This is despite a difficult economic climate which led to reduced consumer discretionary spending.
During the year we had a focus on improving operating profit margins with a review of the warehousing and distribution costs. This involved making operational changes, but the cost savings have generated an increase in operating profit to £3.4 million compared to £2.4 million at 2024.
At the balance sheet date the net assets have increased from £10.2 million to £12.2 million after declaration of a dividend in the year.
The group's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£000 |
15,555 |
15,397 |
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Turnover growth |
% |
1.02 |
7.6 |
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Gross profit |
£000 |
8,468 |
8,483 |
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Gross profit margin |
% |
54.44 |
55.1 |
Principal risks and uncertainties
As with any business, the group faces risks and uncertainties in the course of its day to day operations. The successful management of risk is essential to enable the group to deliver its strategic objectives.
Noted below is a summary of the group’s principal risks and uncertainties.
Control of each of these is critical to the ongoing success of the group. As such, their management is primarily the responsibility of the directors who are supported by the management throughout the group.
Foreign exchange rates
Foreign exchange rates present a risk for the group as fluctuations can affect the purchase price of the products as well as the sales value for non-UK customers. The risk is mitigated by the continual monitoring of foreign exchange movements and the group's exposure.
Supply chain risk
The group is reliant on supplies from overseas. The business is well placed to cope with any supply issues and monitors stock levels closely to ensure there is sufficient supply to meet customer demand.
Wrendale Group Limited
Strategic Report for the Year Ended 31 October 2025
Economic and market turmoil
The worldwide geopolitical landscape remains volatile. The heightened levels of conflict continues to put pressure on transport costs which is having a continued, subsequent increase in cost of living. This has had a significant impact on consumer confidence due to the pressures on discretionary spending. The group will continue to focus on delivering quality products with strong levels of customer service to maintain our market share and repeat custom.
Management are monitoring the tariffs imposed by the USA on imports to consider the impact of this on the US subidiary and are absorbing these costs within the group.
The group has a diverse portfolio of customers, with a mix of nationwide stores and independent retailers providing some protection from any downturn in markets.
Approved and authorised by the
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Wrendale Group Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the for the year ended 31 October 2025.
Directors of the group
The directors who held office during the year were as follows:
Results and dividend
The results for the year are set out on page 9.
Dividends were paid amounting to £700,000. The directors do not recommend payment of a further final dividend.
Financial instruments
Objectives and policies
The directors take the management of risk very seriously and as such have policies and procedures in place which have been authorised by the board. At board level regular meetings are held where current management accounts are available to highlight any financial risks to be dealt with.
Price risk, credit risk, liquidity risk and cash flow risk
The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
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Wrendale Group Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities 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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Wrendale Group Limited
Independent Auditor's Report to the Members of Wrendale Group Limited
Opinion
We have audited the financial statements of Wrendale Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of 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 group's and the parent company's affairs as at 31 October 2025 and of the group's 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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's 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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Wrendale Group Limited
Independent Auditor's Report to the Members of Wrendale Group Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company 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 Statement of Directors' Responsibilities [set out on page 4], 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:
Wrendale Group Limited
Independent Auditor's Report to the Members of Wrendale Group Limited
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
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the nature of the industry and sector, control environment and business performance; |
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the group’s own assessment of the risks that irregularities may occur either as a result of fraud or error; |
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results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
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the key laws and regulations under which the business operates and whether management were aware of any instances of noncompliance; |
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whether the management have knowledge of any actual, suspected or alleged fraud; |
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the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and |
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the matters discussed among the audit engagement team, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
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As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: revenue recognition and stock valuation. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
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We also obtained an understanding of the legal and regulatory framework that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Tax legislation, and Regulations
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In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty. These included the operating and environmental regulations relevant to the group. |
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In addition to the above, our procedures to respond to risks identified included the following: |
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reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described above as having a direct effect on the financial statements; |
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enquiring of management, concerning any actual and potential litigation and claims; |
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performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
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in addressing the risk of fraud in revenue recognition, we have performed focussed testing on trades close to the year-end, depth testing and analytical review procedures to assess accuracy and completeness of revenue recognised; |
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in addressing the risk of fraud through stock valuation, we have reviewed the valuation of individual stock items to relevant invoices or appropriate costings where applicable; and |
Wrendale Group Limited
Independent Auditor's Report to the Members of Wrendale Group Limited
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in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
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We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
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Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become
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A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, 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 members those matters we are required to state to them 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Scunthorpe
North Lincolnshire
DN15 7PQ
Wrendale Group Limited
Consolidated Profit and Loss Account for the Year Ended 31 October 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Operating profit |
|
|
|
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Other interest receivable and similar income |
|
|
|
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Interest payable and similar expenses |
( |
( |
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124,477 |
47,963 |
||
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Profit before tax |
|
|
|
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Tax on profit |
( |
( |
|
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Profit for the financial year |
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|
|
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Profit/(loss) attributable to: |
|||
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Owners of the company |
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The above results were derived from continuing operations.
Wrendale Group Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 October 2025
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2025 |
2024 |
|
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Profit for the year |
|
|
|
Foreign currency translation losses |
( |
( |
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Total comprehensive income for the year |
|
|
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Total comprehensive income attributable to: |
||
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Owners of the company |
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Wrendale Group Limited
(Registration number: 12144612)
Consolidated Balance Sheet as at 31 October 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Tangible assets |
|
|
|
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Current assets |
|||
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Stocks |
|
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Debtors |
|
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|
|
Cash at bank and in hand |
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|
|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
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Total assets less current liabilities |
|
|
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
|
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|
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Retained earnings |
|
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Equity attributable to owners of the company |
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Shareholders' funds |
|
|
Approved and authorised by the
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Wrendale Group Limited
(Registration number: 12144612)
Balance Sheet as at 31 October 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Investments |
|
|
|
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Current assets |
|||
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Debtors |
|
- |
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Cash at bank and in hand |
|
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|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
|
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|
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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The company made a profit after tax for the financial year of £1,622,931 (2024 - profit of £1,549,305).
Approved and authorised by the
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Wrendale Group Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 October 2025
Equity attributable to the parent company
|
Share capital |
Retained earnings |
Total |
Total equity |
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At 1 November 2024 |
|
|
|
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Profit for the year |
- |
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Other comprehensive income |
- |
( |
( |
( |
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Total comprehensive income |
- |
|
|
|
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Dividends |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
Share capital |
Retained earnings |
Total |
Total equity |
|
|
At 1 November 2023 |
|
|
|
|
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Profit for the year |
- |
|
|
|
|
Other comprehensive income |
- |
( |
( |
( |
|
Total comprehensive income |
- |
|
|
|
|
Dividends |
- |
( |
( |
( |
|
At 31 October 2024 |
200 |
10,200,005 |
10,200,205 |
10,200,205 |
Wrendale Group Limited
Statement of Changes in Equity for the Year Ended 31 October 2025
|
Share capital |
Retained earnings |
Total |
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At 1 November 2024 |
|
|
|
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Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 October 2025 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 November 2023 |
|
|
|
|
Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 October 2024 |
200 |
1,981,507 |
1,981,707 |
Wrendale Group Limited
Consolidated Statement of Cash Flows for the Year Ended 31 October 2025
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Note |
2025 |
2024 |
|
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Cash flows from operating activities |
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Profit for the year |
|
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
- |
|
|
|
Corporation tax expense |
|
|
|
|
|
|
||
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Working capital adjustments |
|||
|
(Increase)/decrease in stocks |
( |
|
|
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Increase in trade debtors |
( |
( |
|
|
(Decrease)/increase in trade creditors |
( |
|
|
|
Cash generated from operations |
|
|
|
|
Corporation taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
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Interest paid |
- |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Effects of currency translation |
(22,448) |
(19,300) |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 November |
|
|
|
|
Cash and cash equivalents at 31 October |
6,752,487 |
5,190,185 |
|
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Unit 6
Station Road
Brigg
North Lincolnshire
DN20 8HX
Registration number: 12144612.
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 October 2025.
The Company and Group's functional and presentational currency is sterling.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and Loss Account in these financial statements.
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Judgements and key sources of estimation uncertainty
In the application of the group'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 reviewed where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of cards and giftware, and royalties in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the group's activities.
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Foreign currency transactions and balances
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 change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated 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 balance sheet 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, over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Furniture, fittings and equipment |
15%, 20% or 33.3% per annum on |
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Property improvements |
10% per annum on cost |
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Motor vehicles |
Straight line over 3 years on cost |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.
Borrowings
Interest expense is recognised on the basis of the charge in the period and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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 group’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 group 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.
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Royalties received |
|
|
|
Other revenue |
|
|
|
|
|
The analysis of the group's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Rest of world |
|
|
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
- |
|
|
(Profit)/loss on disposal of property, plant and equipment |
( |
|
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
- |
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on obligations under finance leases and hire purchase contracts |
- |
|
|
Foreign exchange losses |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Distribution |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
40,562 |
260,562 |
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
24,812 |
25,077 |
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
( |
|
Tax expense in the consolidated profit and loss account |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Effect of expense not deductible in determining taxable profit |
|
|
|
Effect of foreign tax rates |
- |
( |
|
Decrease in foreign current tax from unrecognised tax loss |
- |
( |
|
Decrease in UK current tax from unrecognised temporary difference from a prior period |
( |
( |
|
Tax decrease from other tax effects |
( |
- |
|
Total tax charge |
|
|
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Deferred tax
Group
Deferred tax
|
2025 |
Liability |
|
Difference between accumulated depreciation and amortisation and capital allowances |
|
|
|
|
2024 |
Liability |
|
Difference between accumulated depreciation and amortisation and capital allowances |
|
|
|
|
Tangible assets |
Group
|
Furniture, fittings and equipment |
Motor vehicles |
Property improvements |
Total |
|
|
Cost or valuation |
||||
|
At 1 November 2024 |
|
|
|
|
|
Additions |
|
|
- |
|
|
Disposals |
( |
( |
- |
( |
|
At 31 October 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 November 2024 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
( |
( |
- |
( |
|
At 31 October 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 October 2025 |
|
|
|
|
|
At 31 October 2024 |
|
|
|
|
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Investments |
Group
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
The Poplars
|
|
|
|
|
England |
||||
|
|
19W 34th Street
|
|
|
|
|
USA |
||||
* indicates direct investment of the company
Subsidiary undertakings
|
Wrendale Designs Limited The principal activity of Wrendale Designs Limited is |
|
Wrendale Designs INC The principal activity of Wrendale Designs INC is |
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 November 2024 |
|
|
At 31 October 2025 |
|
|
Carrying amount |
|
|
At 31 October 2025 |
|
|
At 31 October 2024 |
|
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
|
Amounts owed by related parties |
|
|
- |
- |
|
|
Other debtors |
|
|
- |
- |
|
|
Prepayments |
|
|
- |
- |
|
|
Corporation tax |
- |
- |
|
- |
|
|
|
|
|
- |
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
- |
- |
|
Cash at bank |
|
|
|
|
|
|
|
|
|
|
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
- |
|
- |
- |
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to related parties |
|
|
|
|
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Other creditors |
- |
|
- |
- |
|
|
Accruals |
|
|
|
|
|
|
Corporation tax liability |
328,580 |
343,573 |
- |
16,435 |
|
|
|
|
|
|
||
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Hire purchase contracts |
- |
|
- |
- |
The hire purchase contracts are secured against the assets to which they relate.
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Decrease in existing provisions |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Wrendale Group Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
200 |
|
200 |
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
700,000 |
320,000 |
||
|
Commitments |
The total amount of financial commitments not included in the balance sheet due within one year is £161,131 (2024 - £28,565). The total amount of financial commitments not included in the balance sheet due later than one year and not later than five years is £289,140 (2024 - £8,291). This is in respect of contract hire vehicles and property rental agreements.
|
Related party transactions |
Group
|
Other transactions with directors |
At the balance sheet date the amount due to the directors was £3,544 (2024 - £5,769).
Summary of transactions with other related parties
At the balance sheet date the amount due from a company under common control was £270,151 (2024 - £288,842). No interest is charged in respect of this balance and it is repayable on demand.