REGISTERED NUMBER: 09435379 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

MAISON FERRAND UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D L Cripps

M Gouze

A Gabriel

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

09435379 (England and Wales)

AUDITORS:

Orcom Civvals Audit Limited

Chartered Accountants and

Statutory Auditors

50 Seymour Street

London

W1H 7JG

CURRENT ASSETS

Stocks

293,599

216,314

Debtors

7

489,599

436,090

Cash at bank and in hand

181,293

137,937

964,491

790,341

CREDITORS

Amounts falling due within one year

8

(964,619

)

(562,930

)

NET CURRENT (LIABILITIES)/ASSETS

(128

)

227,411

TOTAL ASSETS LESS CURRENT LIABILITIES

(128

)

227,411

CREDITORS

Amounts falling due after more than one year

9

(366,989

)

(402,500

)

NET LIABILITIES

(367,117

)

(175,089

)

CAPITAL AND RESERVES

Called up share capital

1,230

1,230

Share premium

10

241,220

241,220

Retained earnings

10

(609,567

)

(417,539

)

SHAREHOLDERS' FUNDS

(367,117

)

(175,089

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

M Gouze - Director

1.	STATUTORY INFORMATION

Maison Ferrand UK Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (the "functional currency").

The functional currency of the company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

These financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence and be able to meet its obligations as they fall due for the foreseeable future.

At the reporting date, the company had net liabilities of £367,117 (2025: £175,089). The company also incurred a net loss of £192,028 during the year ended 31 March 2025 (2025: £189,614). The net liability position is primarily attributable to amounts payable to the company's parent entity, Cognac Ferrand SAS.

The parent entity, Cognac Ferrand SAS, has confirmed that it does not intend to call for repayment of the amounts owed and will provide financial support to the company as required to enable it to meet its liabilities as they fall due, for a period of at least 12 months from the date of approval of these financial statements.

In assessing the company's ability to continue as a going concern, the directors have considered the financial position of the company, its cash flow forecasts, and the level of support available from the parent company. Based on these considerations, and the commitment received from the parent company, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Management believes that the estimates used in preparing this financial statements are reasonable. Actual results in the future may differ from those reported and it is therefore reasonably possible, on the basis of existing knowledge, that outcomes within the next financial year that are different from management's assumptions and estimates could require an adjustment to the carrying amounts of the reported assets and liabilities in future reporting periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover relates to the selling of alcoholic beverages.

Turnover from the sale of goods are recognised when significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Depreciated over 5 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct costs of purchase in bringing the stock to their present location and condition and is calculated using the first -in first-out (FIFO) method.

As stock are held in a bonded warehouse, they are valued at cost but exclude excise duty and VAT until the goods are released into free circulation.

Excise duties and VAT are added to inventory value or expensed to cost of sales when incurred, i.e., upon withdrawal from the bonded warehouse.

Net realisable value is the estimated selling price in the ordinary course of business less applicable selling and distribution costs.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

1,500

AMORTISATION

At 1 April 2025

and 31 March 2026

1,500

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

5,529

Additions

57

At 31 March 2026

5,586

DEPRECIATION

At 1 April 2025

5,529

Charge for year

57

At 31 March 2026

5,586

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

475,713

356,632

Other debtors

-

5

Prepayments

13,886

79,453

489,599

436,090

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

2,651

13,091

Trade creditors

91,295

37,259

Amounts owed to group undertakings

653,447

389,005

Social security and other taxes

16,863

17,290

VAT

156,698

57,431

Accrued expenses

43,665

48,854

964,619

562,930

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Amounts owed to group undertakings

366,989

402,500

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2025

(417,539

)

241,220

(176,319

)

Deficit for the year

(192,028

)

(192,028

)

At 31 March 2026

(609,567

)

241,220

(368,347

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Jones (Senior Statutory Auditor)

for and on behalf of Orcom Civvals Audit Limited

12.	CONTINGENT LIABILITIES

At the balance sheet date, the company held goods in bonded storage with a potential excise duty and VAT liability of approximately £323,017 (2025: £268,097), which would become payable upon release of goods into free circulation. These amounts are not recognised in the financial statements as liabilities or inventory costs until incurred.

13.	POST BALANCE SHEET EVENTS

No other significant events have happened between 31 March 2026 and the date of signing the financial statements.

14.	CONTROLLING PARTY

Cognac Ferrand SAS, a company registered in France, is the immediate controlling party and Compagnie de Bonbonnet SAS, a company registered in France, is the ultimate parent company of Maison Ferrand UK Ltd.

The smallest and largest group in which the results of the company are consolidated is headed by Compagnie de Bonbonnet SAS, a company incorporated in France. Copies of these consolidated financial statements are available from the National Register of Companies, Institut National de la Propriété Industrielle, 26 bis de Leningrad, 75008 Paris, France.

The ultimate controlling party is A Gabriel by virtue of his 100%% shareholding in Compagnie de Bonbonnet SAS.

15.	DEFERRED TAX ASSET

At the reporting date, the company had trading losses of approximately £404,897 available for carry forward against future taxable profits.

A deferred tax asset has not been recognised in respect of these losses due to the uncertainty over the timing and extent of future taxable profits against which the losses may be utilised.

The unrecognised deferred tax asset is estimated at approximately £101,224 (2025: £57,661) calculated at the prevailing UK corporation tax rate of 25%.

The company will continue to assess the recognition of this deferred tax asset in future periods as more certainty over profitability emerges.