Registration number:
S.R.G. Apparel PLC
for the Year Ended 31 March 2026
S.R.G. Apparel PLC
Contents
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Company Information |
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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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Income Statement |
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Statement of Comprehensive Income |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
S.R.G. Apparel PLC
Company Information
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Directors |
Mr Rajesh K Passi Mrs Nita Passi Mr Rohit Passi Mr Andrew Spence |
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Company secretary |
Mr Andrew Spence |
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Registered office |
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Auditors |
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S.R.G. Apparel PLC
Strategic Report for the Year Ended 31 March 2026
The directors present their strategic report for the year ended 31 March 2026.
This report has been prepared to provide a fair, balanced and understandable review of the development, performance and position of the company during the year, together with a description of the principal risks and uncertainties facing the company.
Principal activity
The principal activity of the company is the design, import and distribution of fashionwear.
Fair review of the business
The results for the year are set out in the financial statements. During the year, the directors continued to pursue a strategy of reducing risk by broadening the company’s product and customer base, maintaining close customer relationships, improving sourcing flexibility and controlling overheads. Turnover increased from £41.12m in 2025 to £41.44m in 2026, while profit before tax reduced from £0.85m to £0.38m. Gross margin improved from 24.78% to 27.18%, reflecting product mix, pricing discipline and sourcing activity, although profitability was affected by continued cost pressure and market conditions. The directors consider the overall performance for the year to be satisfactory in the context of the wider retail and consumer environment.
The company remains focused on maintaining adequate working capital, operating within agreed banking facilities and preserving flexibility to respond to changes in consumer demand, exchange rates, supply chain conditions and customer requirements.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2026 |
2025 |
|
Turnover |
£m |
41.44 |
41.12 |
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Profit before tax |
£m |
.38 |
.85 |
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Gross margin |
% |
27.18 |
24.78 |
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Profit before tax margin |
% |
.92 |
2.08 |
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Working Capital Ratio |
2 |
2.42 |
2.76 |
Principal risks and uncertainties
The directors have assessed the principal risks and uncertainties facing the company as including economic and consumer demand risk, customer concentration and retention risk, supply chain disruption, logistics disruption, product quality and compliance risk, foreign exchange exposure, liquidity and working capital management, credit insurance availability and cover, inflationary pressure, cyber and systems risk, and employment and operational risk. These risks are monitored by the board and senior management through regular review of trading performance, customer relationships, supplier performance, logistics and delivery performance, credit insurance cover, cash flow forecasts, banking facilities and operational controls.
Foreign Exchange
The company is exposed to foreign exchange risks from the Dollar and the Euro. The company is taking reasonable steps to manage risks relating to exposure to foreign currency.
The directors confirm that there have been no material post-year-end changes affecting the company’s principal risks and uncertainties or overall risk profile.
S.R.G. Apparel PLC
Strategic Report for the Year Ended 31 March 2026
Section 172(1) statement
Statement by Directors in the performance of their statutory duties in accordance with s172 Companies Act 2006.
The board of directors of S.R.G. Apparel PLC consider, both individually and collectively, that they have acted in good faith in the way they considered would be most likely to promote the success of the company for the benefit of its members as a whole, while having regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006. In particular, the directors have considered the likely long-term consequences of decisions, the interests of employees, relationships with customers, suppliers and other business partners, the impact of the company’s operations on the community and the environment, the desirability of maintaining a reputation for high standards of business conduct, and the need to act fairly between members of the company.
During the year, the board’s key considerations included maintaining strong customer service, managing supplier relationships and overseas sourcing arrangements, preserving liquidity, supporting employees, maintaining ethical and responsible trading practices and ensuring that the business remained resilient in a challenging economic environment. The directors believe these considerations supported the long-term success of the company.
During the year, the directors engaged with key stakeholders as part of their decision-making and ongoing oversight of the business. The directors met regularly with the company’s finance providers to review trading performance, cash flow requirements and banking support, helping to ensure the continued availability of appropriate financial facilities. The directors and senior management also maintained regular dialogue with key suppliers to discuss anticipated demand requirements, production capacity, lead times and delivery expectations, supporting supply continuity and helping suppliers plan effectively. In addition, the company engaged with customers to understand product performance, improve product development and identify the flow of product through its life cycle, including opportunities to refine ranges, manage stock and respond to changing consumer demand. Feedback from these stakeholders was taken into account by the board when considering working capital requirements, sourcing decisions, product development priorities, customer service levels and the long-term sustainability of the business.
Development and Performance of the Business
SRG’s ambition is to continue to develop own Brand products, alongside its Made to Order offerings, by maintaining a clear focus on the following strategic areas:
1. Deepening our connection with Customers
2. Increasing product choice
3. Delivering on time
4. Driving efficiency in our sourcing and supply
5. Working in the right way for our communities and the environment
6. Enhancing how colleagues work together to be their best
S.R.G. Apparel PLC
Strategic Report for the Year Ended 31 March 2026
Future development
The directors intend to continue developing the company’s customer base, product range and sourcing capabilities, while maintaining disciplined cost control and a focus on working capital. The company will continue to invest management time in product development, supplier relationships, quality assurance, ethical sourcing and customer service to support sustainable growth.
The company is preparing for the introduction of Europe’s Digital Product Passport requirements and expects to invest in the most appropriate software, systems and resources to support ongoing compliance with Digital Product Passport obligations and wider ESG requirements. The directors consider this investment important to maintaining product transparency, regulatory compliance and customer confidence as sustainability and traceability requirements continue to develop.
Deepening our connection with Customers
The company has a well-established customer base and maintains senior-level engagement with key customers to identify issues, opportunities and changes in demand as early as possible. The directors recognise that customer retention, service levels, product quality, price competitiveness and on-time delivery are central to the company’s performance and future prospects.
Increasing Product choice
The company offers basic, mid-level and premium products to provide customers with greater choice and to support both customer-led product development and the company’s own product initiatives. The directors continue to assess product performance, margin contribution and customer demand when determining the company’s range and sourcing strategy.
Delivering on time
Regular contact with overseas offices, factories and logistics partners, together with close monitoring of critical paths, helps the company manage production and delivery timescales. The directors recognise that late delivery can affect customer relationships and profitability and therefore continue to monitor on-time delivery and supplier performance.
Driving Efficiency in our sourcing and supply
The directors continue to work with long-standing suppliers to improve flexibility, manage lead times, protect quality standards and support cost efficiency. The company also reviews sourcing options to reduce dependency risk and to respond to changing customer requirements and market conditions.
S.R.G. Apparel PLC
Strategic Report for the Year Ended 31 March 2026
Working in the right way for our communities and the Environment
SRG remains proud of its family values, which help define the way in which the business operates. The directors aim to conduct business responsibly, with regard to ethical sourcing, environmental impact, community engagement and employee wellbeing. Each year, fundraising and charitable activities support local, national and international communities, guided by colleagues.
The company maintains and develops policies and procedures intended to support responsible business conduct across its operations and supply chain. In relation to environmental matters, the directors continue to consider the environmental impact of the company’s sourcing, logistics, packaging and product activities, and the company is preparing for wider ESG and product transparency requirements, including Digital Product Passport obligations. In relation to employees, the company seeks to maintain a safe, fair and supportive working environment through appropriate health and safety, wellbeing, equality and operational procedures. Social and community matters are supported through charitable and fundraising activities, with colleagues helping to identify causes to support locally, nationally and internationally. Human rights and ethical sourcing considerations are addressed through supplier due diligence, factory audits, ongoing supplier engagement and trial orders for new suppliers before larger commitments are placed. The company expects suppliers and business partners to comply with applicable laws and appropriate standards of business conduct. The company also maintains a zero-tolerance approach to bribery and corruption and expects directors, employees, suppliers and other business partners to act honestly, fairly and with integrity. The directors monitor these areas through regular management review, supplier engagement, customer feedback, operational controls and the ongoing development of ESG-related systems and resources.
Enhancing how colleagues work together to be their best
The company continues to focus on managing costs and driving efficiencies by optimising its organisational structure and evolving its operating model. With input from colleagues, the company seeks to identify and implement improvements to processes, systems and ways of working across the business. The directors recognise the importance of attracting, retaining and developing colleagues and maintaining a safe, fair and supportive working environment.
Approved and authorised by the
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S.R.G. Apparel PLC
Directors' Report for the Year Ended 31 March 2026
The directors present their report and the financial statements for S.R.G. Apparel PLC for the year ended 31 March 2026. The report has been prepared in accordance with applicable requirements of the Companies Act 2006 and related reporting regulations.
Directors of the company
The directors who held office during the year were as follows:
There were no changes to the directors during the year or between the year end and the date of approval of the financial statements.
Dividends
The directors do not recommend a payment of a dividend.
Political donations
The company made no political donations.
Financial instruments
Objectives and policies
Creditor payment policy - the company’s policy is to maintain good relationships with its suppliers and to make payments in accordance with agreed contractual terms. The average number of days’ credit taken for trade purchases at 31 March 2026 was 22 days (2025: 14 days).
Price risk, credit risk, liquidity risk and cash flow risk
The business' principal financial instruments comprise bank balances, bank overdrafts, bank loans, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.
In respect of the bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest. The business makes use of money market facilities where funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
S.R.G. Apparel PLC
Directors' Report for the Year Ended 31 March 2026
Engagement with suppliers, customers and other relationships
SRG uses its overseas offices and supplier relationships to support product quality, delivery performance and customer retention. The company maintains regular contact with key customers and suppliers and seeks to resolve issues promptly and commercially.
In relation to supplier retention, the company works with long-standing suppliers who are considered strategic partners. Staff based in overseas offices maintain regular communication with suppliers and, where appropriate, visit production locations. New suppliers are subject to due diligence, audit and trial orders before larger commitments are placed.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. In making this assessment, the directors have considered the company’s current trading, cash flow forecasts, working capital position, banking facilities and the principal risks facing the business.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Important non adjusting events after the financial period
Dissolution of joint venture shareholder
On 11th July 2026, Grabal Alok (UK) Limited, which held 50% of the issued share capital of Le Shark Apparel Limited, was dissolved following the completion of its liquidation.
As a consequence of the dissolution, Grabal Alok (UK) Limited’s shareholding in Le Shark Apparel Limited vested in the Crown as bona vacantia in accordance with the Companies Act 2006.
Le Shark Apparel Limited owns and manages intellectual property associated with the Le Shark brand. Under the terms of the licensing agreement relating to Le Shark, the rights and licences granted to Grabal Alok (UK) Limited terminated upon its insolvency and subsequent dissolution. As a result, S.R.G Apparel PLC became the sole remaining licensee entitled to use the Le Shark brand under the existing licensing arrangements.
The directors have assessed the implications of the dissolution and concluded that the event does not provide evidence of conditions existing at 31st March 2026. Accordingly, the event has been treated as a non-adjusting event after the reporting period and no adjustment has been made to the carrying value of the investment in Le Shark Apparel Limited as at 31st March 2026.
Directors’ indemnities
No qualifying third-party indemnity provisions were in force for the benefit of the directors during the year or at the date of approval of this report. The company maintained directors’ and officers’ insurance during the year ended 31 March 2026.
S.R.G. Apparel PLC
Directors' Report for the Year Ended 31 March 2026
Disclosure of information to the auditors
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 auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
The auditors The Moffatts Partnership LLP are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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S.R.G. Apparel PLC
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 company and of the profit or loss of the company 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 United Kingdom 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 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
S.R.G. Apparel PLC
Independent Auditor's Report to the Members of S.R.G. Apparel PLC
Opinion
We have audited the financial statements of S.R.G. Apparel PLC (the 'company') for the year ended 31 March 2026, which comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, 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 company's affairs as at 31 March 2026 and of its 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 company 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 company'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.
S.R.G. Apparel PLC
Independent Auditor's Report to the Members of S.R.G. Apparel PLC
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, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the 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 9], 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.
S.R.G. Apparel PLC
Independent Auditor's Report to the Members of S.R.G. Apparel PLC
Auditor 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:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company, we identified that the principle risks of non-compliance with laws and regulations related to breaches of the legal and regulatory framework that the company operates in. We considered the extent to which non-compliance might have a material effect on the financial statements. The key laws and regulations we considered in this context included UK Companies Act 2006, Employment Law, Health and Safety, Tax Legislation, Modern Slavery Act 2015, The Consumer Rights Act, The Textile Products Regulations Act 2012, The General Product Safety Regulations 2005, Plastic Packaging Tax Regulations 2022 and UK REACH.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
• enquiring of management as to actual and potential litigation and claims.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• discussions with management and those charged with governance in relation to known or suspected instances of non-compliance with laws and regulations and fraud;
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
S.R.G. Apparel PLC
Independent Auditor's Report to the Members of S.R.G. Apparel PLC
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control systems, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned in accordance with ISAs (UK).
We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors.
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.
S.R.G. Apparel PLC
Independent Auditor's Report to the Members of S.R.G. Apparel PLC
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.
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For and on behalf of
Jackson House
Sibson Road
Sale
M33 7RR
S.R.G. Apparel PLC
Income Statement for the Year Ended 31 March 2026
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Note |
2026 |
2025 |
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|
Revenue |
|
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|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
1,709,953 |
1,316,035 |
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(1,330,732) |
(461,352) |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
S.R.G. Apparel PLC
Statement of Comprehensive Income for the Year Ended 31 March 2026
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2026 |
2025 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
S.R.G. Apparel PLC
(Registration number: 03689774)
Statement of Financial Position as at 31 March 2026
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Note |
2026 |
2025 |
|
|
Non current assets |
|||
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Property, plant and equipment |
|
|
|
|
Investments |
|
|
|
|
|
|
||
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Current assets |
|||
|
Inventories |
|
|
|
|
Receivables |
|
|
|
|
Other financial assets |
18,353 |
75,196 |
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
- |
|
|
Net assets |
|
|
|
|
Equity |
|||
|
Called up share capital |
100,000 |
100,000 |
|
|
Retained earnings |
10,963,403 |
10,669,526 |
|
|
Shareholders' funds |
11,063,403 |
10,769,526 |
Approved and authorised by the
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S.R.G. Apparel PLC
Statement of Changes in Equity for the Year Ended 31 March 2026
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2025 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 March 2026 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 April 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 March 2025 |
100,000 |
10,669,526 |
10,769,526 |
S.R.G. Apparel PLC
Statement of Cash Flows for the Year Ended 31 March 2026
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Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
Financial instrument net losses through profit and loss |
|
|
|
|
Profit on disposal of property, plant and equipment |
- |
( |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
Foreign exchange gains/losses |
|
|
|
|
|
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||
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Working capital adjustments |
|||
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Increase in inventories |
( |
( |
|
|
Decrease/(increase) in trade receivables |
|
( |
|
|
(Decrease)/increase in trade payables |
( |
|
|
|
Cash generated from operations |
( |
( |
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
( |
( |
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of property, plant and equipment |
( |
( |
|
|
Proceeds from sale of property, plant and equipment |
- |
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
|
|
|
|
Payments to finance lease creditors |
|
( |
|
|
Net cash flows from financing activities |
|
|
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 April |
|
|
|
|
Effect of exchange rate fluctuations on cash held |
( |
( |
|
|
Cash and cash equivalents at 31 March |
373,071 |
93,440 |
|
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
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General information |
The company is a public company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
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.
Going concern
The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.
Judgements
In the course of preparing the financial statements, no judgements have been made in the process of applying the accounting policies, other than those involving estimations, that have had a significant effect on the amounts recognised in the financial statements. |
Key sources of estimation uncertainty
In determining the NRV of stock, management have made judgements in respect of obsolete stock. The estimations for the value of obsolete stock are based on market conditions, historical experience and other factors, including expectations of sales. The carrying amount is - £(246,146) (2025 -£(218,319)).
Revenue recognition
Revenue 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. Revenue is recognised on the despatch of the goods and is shown net of sales/value added tax, returns, rebates and discounts.
Royalty income is recognised on an accruals basis.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
Foreign currency transactions and balances
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the 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 veeb enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment 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 |
|
Leasehold alterations |
Over remaining lease life |
|
Computer equipment |
25% straight line basis |
|
Motor vehicles |
25% straight line basis |
|
Office equipment |
20% straight line basis |
|
Fixtures & fittings |
10% straight line basis |
|
Plant & machinery |
10% straight line basis |
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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 |
|
Trademarks, patents and licences |
20% straight line basis |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. 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.
Trade receivables
Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade receivables 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 receivables 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.
Inventories
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.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
Trade payables
Trade payables 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 payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
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.
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.
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.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
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.
Financial instruments
Classification
Recognition and measurement
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Basic financial liabilities, including trade and other payables, bank loans 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
Derivative financial instruments and hedging
Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. Changes in the fair value of derivatives are recognised in the profit and loss as finance costs or expenses as appropriate unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition depends on the nature of the hedge relationship.
Hedging
|
Revenue |
The analysis of the company's Revenue for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Sale of goods |
|
|
The analysis of the company's Revenue for the year by market is as follows:
|
2026 |
2025 |
|
|
UK |
|
|
|
Europe |
|
|
|
Rest of world |
|
|
|
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Management charges |
|
|
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
|
2026 |
2025 |
|
|
Gain on disposal of Property, plant and equipment |
- |
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Profit on disposal of property, plant and equipment |
- |
( |
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Other finance income |
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
- |
|
|
Foreign exchange gains |
|
|
|
Net changes in fair value of cash flow hedges |
56,843 |
787 |
|
Other finance costs |
|
|
|
|
|
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
1,367,799 |
1,339,035 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2026 |
2025 |
|
|
Remuneration |
|
|
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
|
All other non-audit services |
|
|
|
|
|
All other non-audit services relate to payroll services provided.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Taxation |
Tax charged/(credited) in the income statement
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
- |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2025 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax expense from unrecognised tax loss or credit |
|
- |
|
Tax (decrease)/increase from other tax effects |
( |
|
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Accelerated Capital Allowances |
- |
|
|
- |
|
The amount of the net reversal of deferred tax assets and deferred tax liabilities expected to occur during the year beginning after the reporting period is £6,044 (2025 - £-).
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Intangible assets |
|
Trademarks, patents and licenses |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2025 |
|
|
|
At 31 March 2026 |
|
|
|
Amortisation |
||
|
At 1 April 2025 |
|
|
|
At 31 March 2026 |
|
|
|
Carrying amount |
||
|
At 31 March 2026 |
- |
- |
Amortisation of intangible assets is included in administration expenses in the income statement.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Property, plant and equipment |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31 March 2026 |
|
|
|
|
|
Depreciation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
At 31 March 2026 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 March 2026 |
|
|
|
|
|
At 31 March 2025 |
|
|
|
|
Included within the net book value of land and buildings above is £88,681 (2025 - £81,496) in respect of short leasehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of property, plant and equipment includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Motor vehicles |
120,011 |
69,211 |
Restriction on title and pledged as security
Motor Vehicles with a carrying amount of £120,011 (2025 - £69,211) has the following restriction on title:
Title to assets passes when the option to purchase under the hire purchase agreement has been exercised.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Investments |
|
2026 |
2025 |
|
|
Investments in joint ventures |
|
|
|
Joint ventures |
£ |
|
Cost |
|
|
At 1 April 2025 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 March 2026 |
|
|
At 31 March 2025 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company 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 |
|
|
2026 |
2025 |
|||
|
Joint ventures |
||||
|
|
Unit 14, Park Seventeen,
|
5,000 ordinary shares of £1 |
|
|
|
England & Wales |
||||
Joint ventures
Le Shark Apparel Limited
The principal activity of Le Shark Apparel Limited is an IP holding company. Its financial period end is 31 March.
The loss for the financial period of Le Shark Apparel Limited was £(13,910) (2025 - £(13,471)) and the aggregate amount of capital and reserves at the end of the period was £(181,218) (2025 - £(167,309)).
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Inventories |
|
2026 |
2025 |
|
|
Stock |
|
|
Impairment of inventories
The amount of impairment profit/(loss) included in profit or loss is £(27,828) (2025 - £10,120). The impairment profit/(loss) is included in purchases.
|
Receivables |
|
Current |
Note |
2026 |
2025 |
|
Trade receivables |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other receivables |
|
|
|
|
Prepayments |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
2026 |
2025 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Creditors |
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade payables |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
- |
|
|
|
Accruals |
|
|
|
|
Income tax liability |
79,300 |
223,244 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
Additional provisions |
|
|
|
At 31 March 2026 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £Nil (2025 - £
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
5,000 |
|
5,000 |
|
|
|
95,000 |
|
95,000 |
|
|
|
|
|
|
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
|
Ordinary B shares have the following rights, preferences and restrictions: |
|
Reserves |
Profit and loss account
Profit & loss account includes all current and prior period retained profits and losses.
Called up share capital
Called up share capital represents the nominal value of shares that have been issued.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Loans and borrowings |
Non-current loans and borrowings
|
2026 |
2025 |
|
|
Hire purchase contracts |
|
|
Current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Bank borrowings
|
|
Bank borrowings are secured by a Contract Monies charge, Debenture including fixed and floating charge over the company's assets, Composite Company Unlimited Multilateral Guarantee, Letter of Set-off, and General Letter of Pledge.
Other borrowings
Hire purchase agreements are fixed rate agreements. The carrying amount at year end is £169,563 (2025 - £109,940).
Title to assets passes when the option to purchase under the hire purchase agreement has been exercised.
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Contingent liabilities |
At 31st March 2026 the company had contingent liabilities in respect of letters of credit issued by its bankers for goods ordered but not yet shipped. The amount guaranteed is £814,219 (2025 - £1,418,669)
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Analysis of changes in net debt |
|
At 1 April 2025 |
Financing cash flows |
Foreign exchange movements |
Other non-cash changes |
At 31 March 2026 |
|
|
Cash and cash equivalents |
|||||
|
Cash |
3,347 |
1,037 |
- |
- |
4,384 |
|
Cash equivalents |
90,093 |
1,150,903 |
(872,309) |
- |
368,687 |
|
93,440 |
1,151,940 |
(872,309) |
- |
373,071 |
|
|
Borrowings |
|||||
|
Long term borrowings |
(93,324) |
- |
- |
(76,239) |
(169,563) |
|
Short term borrowings |
(3,834,035) |
(2,055,422) |
- |
76,239 |
(5,813,218) |
|
(3,927,359) |
(2,055,422) |
- |
- |
(5,982,781) |
|
|
( |
( |
( |
- |
( |
|
|
|
|||||
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Related party transactions |
|
Transactions with directors |
|
2026 |
At 1 April 2025 |
Advances to director |
Repayments by director |
At 31 March 2026 |
|
Mr Rajesh K Passi |
||||
|
The loan is interest free and fully repayable with no specified payment terms. |
( |
( |
|
( |
|
2025 |
At 1 April 2024 |
Advances to director |
Repayments by director |
At 31 March 2025 |
|
Mr Rajesh K Passi |
||||
|
The loan is interest free and fully repayable with no specified payment terms. |
( |
( |
|
( |
Summary of transactions with joint ventures
There are no conditions relating to outstanding balances.
Summary of transactions with other related parties
Income and receivables from related parties
|
2026 |
Joint ventures |
Other related parties |
|
Sale of goods |
- |
|
|
Receipt of services |
- |
|
|
Settlement of liabilities |
|
- |
|
|
|
|
|
Amounts receivable from related party |
|
|
|
|
||
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
2025 |
Joint ventures |
Other related parties |
|
Sale of goods |
- |
|
|
Receipt of services |
- |
|
|
Settlement of liabilities |
|
- |
|
|
|
|
|
Amounts receivable from related party |
|
|
|
|
||
Expenditure with and payables to related parties
|
2026 |
Other related parties |
|
Purchase of goods |
|
|
Rendering of services |
|
|
|
|
|
Amounts payable to related party |
|
|
|
|
|
2025 |
Other related parties |
|
Purchase of goods |
|
|
Rendering of services |
|
|
|
|
|
Amounts payable to related party |
|
|
|
|
|
Financial instruments |
Financial liabilities measured at fair value
Foreign Exchange Forward
These have been fair valued using observable forward exchange rates corresponding to the maturity of the contract.
The fair value is £18,353 (2025 - £75,196) and the change in value included in profit or loss is £(56,843) (2025 - £(787)).
S.R.G. Apparel PLC
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Non adjusting events after the financial period |
|
|