Registration number: 08496577

Velvet and Parade Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Velvet and Parade Limited

Company Information

Directors

Mr M R Fisher Mrs S G Fisher Mrs L Meadham

Registered office

Combe Garden Centre Hayne Lane Gittisham Honiton Devon EX14 3PD

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Velvet and Parade Limited

(Registration number: 08496577)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	6	196	623
Current assets
Stocks	7	34,475	32,833
Debtors	8	1,059	2,663
Cash at bank and in hand		12,348	12,899
		47,882	48,395
Creditors: Amounts falling due within one year	9	(28,601)	(35,418)
Net current assets		19,281	12,977
Total assets less current liabilities		19,477	13,600
Provisions for liabilities		(37)	(118)
Net assets		19,440	13,482
Capital and reserves
Called up share capital		100	100
Retained earnings		19,340	13,382
Shareholders' funds		19,440	13,482

For the financial year ending 30 September 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Velvet and Parade Limited

(Registration number: 08496577)
Balance Sheet as at 30 September 2025

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2026 and signed on its behalf by:
 

......................................... Mr M R Fisher Director

Velvet and Parade Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Combe Garden Centre
Hayne Lane
Gittisham
Honiton
Devon
EX14 3PD
United Kingdom

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 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 company's activities.

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 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.

Velvet and Parade Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixture and fittings	20 % straight line
Other tangibles	20 % straight line

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The company shall recognise an intangible asset as an asset if, and only if:
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity; and
the cost or value of the asset can be measured reliably.

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
Trademark	20% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Velvet and Parade Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

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 company 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 (including directors) during the year, was 7 (2024 - 8).

Velvet and Parade Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	506	1,250

5	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 October 2024	830	830
At 30 September 2025	830	830
Amortisation
At 1 October 2024	830	830
At 30 September 2025	830	830
Carrying amount
At 30 September 2025	-	-

6	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 October 2024	6,445	7,620	14,065
Additions	79	-	79
At 30 September 2025	6,524	7,620	14,144
Depreciation
At 1 October 2024	5,822	7,620	13,442
Charge for the year	506	-	506
At 30 September 2025	6,328	7,620	13,948
Carrying amount
At 30 September 2025	196	-	196
At 30 September 2024	623	-	623

Velvet and Parade Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

7

Stocks

	2025 £	2024 £
Other stocks	34,475	32,833

8

Debtors

	2025 £	2024 £
Other debtors	468	1,943
Prepayments and accrued income	591	720
Total current trade and other debtors	1,059	2,663

9

Creditors

	2025 £	2024 £
Due within one year
Taxation and social security	2,821	3,039
Other creditors	23,280	30,516
Accrued expenses	2,500	1,863
	28,601	35,418