Scruffy Dog Group Limited

Registered number

07386246

Report and Consolidated Financial Statements

for the year ended 31 March 2025

Scruffy Dog Group Limited

Company Information

Directors

J Bright

T Coke

P Weidner

Auditors

Xeinadin Audit Limited

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

Registered office

Unit E3

OYO Business Park

Park Lane

Birmingham

B35 6AN

Registered number

07386246

Scruffy Dog Group Limited
Registered number:		07386246
Directors' Report

The directors present their report and financial statements for the year ended 31 March 2025.

Principal activities
The group's principal activity during the year continued to be event productions, bespoke set fabrications, management and related activities.

Directors
The following persons served as directors during the year:

	J Bright
The following persons were appointed as directors subsequent to the year end:
	T Coke
	P Weidner

Directors' responsibilities

The directors are responsible for preparing the report and 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 (Financial Reporting Standard 102 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	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 company's transactions and disclose with reasonable accuracy at any time the financial position of 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board on 3 July 2026 and signed on its behalf.

J Bright
Director

Scruffy Dog Group Limited
Strategic Report

1 - Principal Activities The Directors present their Strategic Report for Scruffy Dog Group for the year ended 31 March 2025. The purpose of this report is to provide shareholders with a balanced and comprehensive analysis of the Group’s development and performance during the financial year, as well as its position at the year-end. Scruffy Dog Group is a leading creative design and production company dedicated to delivering world-class themed environments and brand experiences. Our primary activities involve concept design, technical drawing and bespoke fabrication for a global client base for all theme parks and entertainment centres. 2 - Business Review The financial year ending 31 March 2025 was a transformative period of operational expansion by facility upgrades helping to position the company for future increased project capability and project delivering. The Group has maintained a resilient position by focusing on high-margin projects and international expansion by securing many contracts with world leading theme parks and attractions centres.
3 - Principal Risks and Uncertainties The Directors have performed a robust assessment of the principal risks facing the Group: Cost Inflation: Rising costs of raw materials (timber, steel, resins). • Mitigation: Fixed-price supplier agreements, improving and agile project estimation models. Talent Acquisition: The specialised nature of the creative production industry. • Mitigation: Competitive benefit packages with the promise of mentorship and promotion throughout an employee’s career. Project Concentration: A portion of revenue may be tied to a small number of high-value, long-lead-time contracts. Delay or cancellation of a single major project could impact cash flow. • Mitigation: Maintaining a diverse pipeline across different sectors (Heritage vs. Theme Parks) and geographical regions (UK vs. Middle East) to spread exposure. 4 - Key Highlights for the Period: • Revenue Performance: Turnover for the year was £16,477,947, representing a 25% decrease compared to the previous year, this is not of a concern to the business due to the life cycles of projects and on-going projects. • Operational Efficiency: We have continued to invest in technology and Creative people to enhance our production capabilities and reduce lead times, in line with the Group's long-term strategy. • Market Position: Scruffy Dog Group remains a key player in the market, securing several high-profile contracts which secure a robust pipeline for the future financial years.
5 - Financial Key Performance Indicators 2025 2024 Turnover 16,477,947 22,241,654 Gross Profit Margin 52.73% 35.02% Operating Profit 1,531,882 3,337,185 Net Assets 9,562,545 8,722,582 Future Developments The Directors aim to continue the development of the business through strategic partnerships, investment into new technology and broaden the scope of available deliverable works in the entertainment and theme park industry. Management expects the performance for the next 2025/26 period to be consistent with 2024/25 despite ongoing inflationary pressures. On 24th December 2025, the company finalized a strategic transfer of ownership to Journey UK Bidco Limited, a move designed to accelerate our long-term growth and expand our market footprint. The acquisition by Journey UK Bidco Limited marks an exciting new chapter, aligning our innovative capabilities and established resources to expand the capabilities to growing markets.

This report was approved by the board on 3 July 2026 and signed on its behalf.



J Bright
Director

Scruffy Dog Group Limited
Independent auditor's report
to the members of Scruffy Dog Group Limited

Opinion

We have audited the financial statements of Scruffy Dog Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 of the parent company affairs as at 31 March 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 Auditors' 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.

Other matter
The comparative financial statements are unaudited.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' 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 and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.
We have nothing to report in respect of the following matters in relation to which 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 two, 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 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 group's and the parent 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 group or the parent 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 a Report of the Auditors 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:
- enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
- enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
- reviewing minutes of meetings of those charged with governance;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.
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 a Report of the Auditors 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.

Jeffrey Stanley BSc(Econ) FCA
(Senior Statutory Auditor)		Lakeview House
for and on behalf of		4 Woodbrook Crescent
Xeinadin Audit Limited		Billericay
Statutory Auditor		Essex
3 July 2026		CM12 0EQ

Scruffy Dog Group Limited
Consolidated Statement of Comprehensive Income
for the year ended 31 March 2025


Notes		2025		2024
£			£

Turnover	2	16,477,947		22,241,654

Cost of sales		(7,788,461)		(14,453,139)

Gross profit		8,689,486		7,788,515

Administrative expenses		(7,157,604)		(4,451,330)

Operating profit	3	1,531,882		3,337,185

Interest receivable		147,820		132,430

		1,679,702		3,469,615

(Loss)/profit on sale of fixed assets		(27,826)		32,053

		1,651,876		3,501,668

Interest payable	7	(63,164)		(92,276)

Profit on ordinary activities before taxation		1,588,712		3,409,392

Tax on profit	8	(345,827)		(834,095)

Other comprehensive income

Profit for the financial year		1,242,885		2,575,297

Owners of the parent		1,208,988		2,472,704
Non controlling interest		33,897		102,593
		1,242,885		2,575,297

Scruffy Dog Group Limited
Consolidated Statement of Financial Position
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	9		680,868			562,413
Investments	11		16,792			16,792
			697,660			579,205

Current assets
Debtors	12	2,174,705			5,699,210
Investments held as current assets	13	4,052			4,249
Cash at bank and in hand		8,882,885			9,565,784
		11,061,642			15,269,243

Creditors: amounts falling due within one year	14	(1,764,657)			(6,660,609)

Net current assets			9,296,985			8,608,634

Total assets less current liabilities			9,994,645			9,187,839

Creditors: amounts falling due after more than one year	15		(432,100)			(465,252)

Net assets			9,562,545			8,722,587

Capital and reserves
Called up share capital	18		101			101
Profit and loss account	19		9,889,865			8,863,377
Non controlling interest			(327,421)			(140,891)

Total equity			9,562,545			8,722,587


These financial statements have been prepared in accordance with the provisions applicable to medium sized groups.
The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and signed on its behalf by:


J Bright
Director

Scruffy Dog Group Limited
Registered number:		07386246
Company Statement of Financial Position
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	10		429,574			207,359
Investments	11		8,623			8,623
			438,197			215,982

Current assets
Debtors	12	679,038			807,647
Cash at bank and in hand		6,137,313			5,277,775
		6,816,351			6,085,422

Creditors: amounts falling due within one year	14	(68,521)			(48,819)

Net current assets			6,747,830			6,036,603

Total assets less current liabilities			7,186,027			6,252,585

Creditors: amounts falling due after more than one year	15		(216,380)			(209,747)

Net assets			6,969,647			6,042,838

Capital and reserves
Called up share capital	18		101			101
Profit and loss account			6,969,546			6,042,737

Total equity			6,969,647			6,042,838

As permitted by section 408 of the Companies Act 2006 the company has not presented it's own profit and loss account and related notes. The company's profit for the year was £1,109,309 (2024:£1,191,257)
These financial statements have been prepared in accordance with the provisions applicable to medium sized companies.
The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and signed on its behalf by:


J Bright
Director

Scruffy Dog Group Limited
Consolidated Statement of Changes in Equity
for the year ended 31 March 2025

Share		Profit		Total		Non		Total
capital		and loss		controlling		controlling
account				interest		interest
£		£		£		£		£

At 1 April 2023	101		6,554,648		6,554,749		4,041		6,558,790

Profit for the financial year			2,472,704		2,472,704		102,593		2,575,297

Dividends			(163,975)		(163,975)		(247,525)		(411,500)

At 31 March 2024	101		8,863,377		8,863,478		(140,891)		8,722,587



At 1 April 2024	101		8,863,377		8,863,478		(140,891)		8,722,587

Profit for the financial year			1,208,988		1,208,988		33,897		1,242,885

Dividends			(182,500)		(182,500)		(220,427)		(402,927)

At 31 March 2025	101		9,889,865		9,889,966		(327,421)		9,562,545

Scruffy Dog Group Limited
Company Statement of Changes in Equity
for the year ended 31 March 2025

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 April 2023	101		5,030,880		5,030,981

Profit for the financial year			1,191,257		1,191,257

Dividends			(179,400)		(179,400)

At 31 March 2024	101		6,042,737		6,042,838



At 1 April 2024	101		6,042,737		6,042,838

Profit for the financial year			1,109,309		1,109,309

Dividends			(182,500)		(182,500)

At 31 March 2025	101		6,969,546		6,969,647

Scruffy Dog Group Limited
Consolidated Statement of Cash Flows
for the year ended 31 March 2025

Notes		2025		2024
£			£
Operating activities
Profit for the financial year		1,242,885		2,575,297

Adjustments for:
Loss/(profit) on sale of fixed assets		27,826		(32,053)
Interest receivable		(147,820)		(132,430)
Interest payable		63,164		92,276
Tax on profit on ordinary activities		345,827		834,095
Depreciation		159,197		-
Decrease in debtors		3,653,114		-
Decrease in creditors		(4,286,136)		-
		1,058,057		3,337,185

Interest received		147,820		-
Interest paid		(54,998)		-
Interest element of finance lease payments		(8,166)		-
Corporation tax paid		(799,535)		-

Cash generated by operating activities		343,178		3,337,185

Investing activities
Payments to acquire tangible fixed assets		(616,748)		-
Proceeds from sale of tangible fixed assets		311,270		-
Proceeds from sale of investments		197		-

Cash used in investing activities		(305,281)		-

Financing activities
Equity dividends paid		(402,927)		-
Repayment of loans		(172,500)		-
Capital element of finance lease payments		(20,016)		-

Cash used in financing activities		(595,443)		-

Net cash (used)/generated
Cash generated by operating activities		343,178		3,337,185
Cash used in investing activities		(305,281)		-
Cash used in financing activities		(595,443)		-

Net cash (used)/generated		(557,546)		3,337,185

Cash and cash equivalents at 1 April		9,421,155		6,212,579
Cash and cash equivalents at 31 March		8,863,609		9,549,764

Cash and cash equivalents comprise:
Cash at bank		8,882,885		9,565,784
Bank overdrafts	14	(19,276)		(16,020)
		8,863,609		9,549,764

Scruffy Dog Group Limited
Notes to the Accounts
for the year ended 31 March 2025

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Plant and machinery			25% reducing balance
	Fixtures, fittings and equipment			25% reducing balance
	Motor vehicles			20% reducing balance


	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Financial instruments
	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
	Other financial assets
	Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
	Impairment of financial assets
	Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
	Classification of financial liabilities
	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 group after deducting all of its liabilities.
	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
	Other financial liabilities
	Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
	Derecognition of financial liabilities
	Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

	Equity instruments
	Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.


2	Analysis of turnover					2025		2024
£							£

	Sale of goods and services					16,477,947		22,241,654

	By geographical market:

	UK					1,040,290		761,626
	Europe					624,018		5,172,408
	North America					204,293		34,418
	Rest of world					14,609,346		16,273,202
						16,477,947		22,241,654


3	Operating profit					2025		2024
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					159,197		117,129
	Carrying amount of stock sold					3,055,379		7,023,565


4	Auditor's remuneration					2025		2024
	Fees payable to the company's auditor and associates:					£	£

	For audit services
	Audit of the financial statements of the group and company					50,000		-
						50,000		-


5	Directors' emoluments					2025		2024
£							£

	Emoluments					24,000		24,000
	Company contributions to defined contribution pension plans					60,000		58,250
						84,000		82,250


	Number of directors to whom retirement benefits accrued:					2025		2024
Number							Number

	Defined contribution plans					1		1


6	Staff costs	Company				Group
		2025		2024		2025		2024
£			£		£		£

	Wages and salaries	-		-		3,255,716		1,776,273
	Social security costs	-		-		309,424		174,387
	Other pension costs	465		400		106,001		86,579
		465		400		3,671,141		2,037,239


	Average number of employees during the year					Number	Number

	Administration					37		34
	Development					17		15
	Manufacturing					12		10
	Marketing					3		3
	Sales					2		1
						71		63


7	Interest payable					2025		2024
£							£

	Bank loans and overdrafts					54,998		83,145
	Finance charges payable under finance leases and hire purchase contracts					8,166		9,131
						63,164		92,276


8	Taxation					2025		2024
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					345,827		834,095

	Tax on profit on ordinary activities					345,827		834,095


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
£							£
	Profit on ordinary activities before tax					1,588,712		3,409,392

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					397,178		852,348

	Effects of:
	Expenses not deductible for tax purposes					(51,351)		(18,253)

	Current tax charge for period					345,827		834,095


9	Group tangible fixed assets
				Leasehold improvements		Plant and machinery		Total
				At cost		At cost
£					£		£
	Cost or valuation
	At 1 April 2024			22,621		1,209,595		1,232,216
	Additions			-		616,748		616,748
	Disposals			-		(613,968)		(613,968)
	At 31 March 2025			22,621		1,212,375		1,234,996

	Depreciation
	At 1 April 2024			5,108		664,695		669,803
	Charge for the year			4,609		154,588		159,197
	On disposals			-		(274,872)		(274,872)
	At 31 March 2025			9,717		544,411		554,128

	Carrying amount
	At 31 March 2025			12,904		667,964		680,868
	At 31 March 2024			17,513		544,900		562,413



						2025		2024
£							£
	Carrying value of plant and machinery included above held under finance leases and hire purchase contracts					73,951		92,439


10	Parent tangible fixed assets
						Plant and machinery		Total
						At cost
£							£
	Cost or valuation
	At 1 April 2024					589,323		589,323
	Additions					302,410		302,410
	At 31 March 2025					891,733		891,733

	Depreciation
	At 1 April 2024					381,963		381,963
	Charge for the year					80,194		80,194
	At 31 March 2025					462,157		462,157

	Carrying amount
	At 31 March 2025					429,576		429,576
	At 31 March 2024					207,360		207,360


11	Investments
		Company				Group
		2025		2024		2025		2024
£			£		£		£

		8,623		8,623		16,792		16,792

	The company holds 20% or more of the share capital of the following companies:
Capital and							Profit (loss)
	Company	Shares held				reserves	for the year
		Class		%	£		£
						2025		2025
	Scruffy Dog Productions Limited	Ordinary		100		1,109,158		329,336
	Registered Office: Unit E3, OYO Business Park, Park Lane, Birmingham, B35 6AN
						2025		2025
	Scruffy Dog Creative Limited	Ordinary		100		888,767		348,980
	Registered Office: Unit E3, OYO Business Park, Park Lane, Birmingham, B35 6AN
						2025		2025
	Scruffy Dog Operations Limited	Ordinary		100		272,548		11,861
	Registered Office: Unit E3, OYO Business Park, Park Lane, Birmingham, B35 6AN
Dec 2024							Dec 2024
	Scruffy Dog Creative Europe SL	Ordinary		100		25,531		13,673
	Registered Office: Carrer d'Aribau, número 230, planta 7, Puerta E-F-G. Barcelona (Spain).
Dec 2024							Dec 2024
	Creative PM Middle East LLC	Ordinary		100		(33,147)		145,587
	Registered Office: 4228, Northern Ring Road, Hiteen District, Riyadh, Saudi Arabia
Dec 2024							Dec 2024
	Scruffy Dog Middle East FZ-LLC	Ordinary		100		(110,147)		175,828
	Registered Office: Unit E0310, Floor 3, Building 3, Dubai Design District, Dubai, United Arab Emirates

12	Debtors
		Company				Group
		2025		2024		2025		2024
£			£		£		£
	Trade debtors	207,624		104,801		1,151,425		4,089,336
	Amounts owed by group undertakings and undertakings in which the company has a participating interest	84,917		676,849		-		600,000
	Other debtors	386,497		25,997		577,536		808,206
	Prepayments and accrued income	-		-		445,744		201,668
		679,038		807,647		2,174,705		5,699,210


13	Investments held as current assets					Group
						2025		2024
£							£
	Fair value
	Unlisted investments					4,052		4,249


14	Creditors: amounts falling due within one year
		Company				Group
		2025		2024		2025		2024
£			£		£		£

	Bank overdrafts	-		-		19,276		16,020
	Bank loans	-		-		80,625		172,500
	Obligations under finance lease and hire purchase contracts	-		-		8,531		20,017
	Trade creditors	2,938		19,993		891,035		3,704,199
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,826				-		-
	Corporation tax	58,073		28,733		186,924		640,632
	Other taxes and social security costs	-		-		207,331		50,660
	Other creditors	-		93		33,560		172,421
	Accruals and deferred income	2,684		-		337,375		1,884,160
		68,521		48,819		1,764,657		6,660,609


15	Creditors: amounts falling due after one year
		Company				Group
		2025		2024		2025		2024
£			£		£		£

	Bank loans	-		-		54,167		134,792
	Obligations under finance lease and hire purchase contracts	-		-		61,982		70,512
	Trade creditors	-		-		315,951		259,948
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	216,380		209,747		-		-
		216,380		209,747		432,100		465,252


16	Loans					Group
						2025		2024
£							£
	Loans repayable within five years:
	CBILS repayable over 5 years and interest rate 3.5%					30,625		153,125
	CBILS repayable over 5 years and interest rate 3.5%					104,167		154,167
						134,792		307,292

	Analysis of maturity of debt:
	Within one year or on demand					80,625		172,500
	Between one and two years					54,167		80,625
	Between two and five years					-		54,167
						134,792		307,292

	The bank loans are secured by fixed and floating charges over Scruffy Dog Productions Limited and Scruffy Dog Creative Limited.
17	Obligations under finance leases and hire purchase					Group
	contracts					2025		2024
£							£
	Amounts payable:
	Within one year					8,531		20,017
	Within two to five years					61,982		70,512
						70,513		90,529



18	Share capital	Nominal				2025		2024
value			£				£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each				100		100
						101		101


19	Profit and loss account					2025		2024
£							£

	At 1 April					8,863,377		6,554,648
	Profit for the financial year					1,208,988		2,472,704
	Dividends					(182,500)		(163,975)

	At 31 March					9,889,865		8,863,377


20	Dividends					2025		2024
£							£

	Dividends on ordinary shares					182,500		179,400


21	Events after the reporting date

	Subsequent to the year end of 31 March 2025, the shareholders of the Group completed the sale of 100% of the issued share capital of the Company to Journey UK Bidco Limited. The transaction resulted in a change of ownership of the Group. As the sale occurred after the reporting date, the transaction has not been reflected in the recognition or measurement of assets and liabilities included in these financial statements. The directors have considered the requirements of FRS 102 Section 32, Events after the End of the Reporting Period, and concluded that the sale represents a non-adjusting event as it does not provide evidence of conditions that existed at the reporting date. The financial effect of the transaction has not been recognised in these financial statements. The directors consider the disclosure of the transaction to be necessary to enable users of the financial statements to understand its nature and significance.


22	Other financial commitments

	Total future minimum lease payments under non-cancellable operating leases:

		Group
		Land and buildings		Land and buildings	Other		Other
		2025		2024		2025		2024
£			£		£		£
	Falling due:
	within one year	122,516		-		-		-
	within two to five years	87,600		181,246		-		-
		210,116		181,246		-		-


23	Loans to directors
	Payable within one year	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	J Bright
	Loan 1	-		340,971		-		340,971
		-		340,971		-		340,971


24	Controlling party

	The controlling party throughout the year was Joseph Bright who owned the majority of the issued share capital of the parent company.


25	Presentation currency

	The financial statements are presented in Sterling.


26	Principal place of business

	The address of the company's principal place of business and registered office is:

	Unit E3
	OYO Business Park
	Park Lane
	Birmingham
	B35 6AN


27	Reconciliations on adoption of FRS 102

	Profit and loss for the year ended 31 March 2024					£

	Profit under former UK GAAP					2,575,297

	Profit under FRS 102					2,575,297

	Balance sheet at 31 March 2024					£

	Equity under former UK GAAP					8,722,587

	Equity under FRS 102					8,722,587

	Balance sheet at 1 April 2023					£

	Equity under former UK GAAP					-

	Equity under FRS 102					-