Company No: SC154830 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	4,066		3,014
Investments	5	635		634
		4,701		3,648
Current assets
Stocks		1,655,451		1,471,885
Debtors	6	4,192,166		1,286,758
Cash at bank and in hand		131,034		1,733,545
		5,978,651		4,492,188
Creditors: amounts falling due within one year	7	( 817,416)		( 471,539)
Net current assets		5,161,235		4,020,649
Total assets less current liabilities		5,165,936		4,024,297
Creditors: amounts falling due after more than one year	8	( 758,333)		0
Net assets		4,407,603		4,024,297
Capital and reserves
Called-up share capital	9	64,825		64,825
Share premium account		7,528		7,528
Capital redemption reserve		66,336		66,336
Profit and loss account		4,268,914		3,885,608
Total shareholder's funds		4,407,603		4,024,297

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scottish Everlastings Limited (registered number: SC154830) were approved and authorised for issue by the Director on 24 September 2026. They were signed on its behalf by:

E Salter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scottish Everlastings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Office Warehouse 1 Frances Industrial Park, Wemyss Road, Dysart, Kirkcaldy, KY1 2XZ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for the design and production of faux plants, florals and home accessories net of VAT and trade discount.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer (usually on dispatch of goods).

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company's estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the black scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	4 years straight line
Fixtures and fittings	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	22		22

3. Share-based payments

Equity-settled share-based payment schemes

The Company has a share option scheme within the ultimate parent for certain employees.

Options are exercisable at a price equal to the estimated fair value of the Company's shares on the date of grant. The vesting date occurs on an exit even subject to option holders still being employed by the Company at that date. Options will expire on the first anniversary of the death of the participant.

Details of the share options outstanding during the financial year are as follows:

	2025			2024
	Weighted Average			Weighted Average
	Number of share options	Average exercise price (£)		Number of share options	Average exercise price (£)
Outstanding at beginning of period	250	240.00		250	240.00
Exercised during the period	( 250)	( 240.00)		0	0
Outstanding at the end of the period	0	0		250	240.00
Exercisable at the end of the period	0	0		0	0

The fair value of the share options at the grant date was calculated using the Black Scholes model. This was deemed appropriate as there are no market performance related vesting conditions.

No adjustment has been made to the profit and loss account due to the amounts being immaterial.

4. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 January 2025	16,475		17,618		34,093
Additions	0		4,184		4,184
At 31 December 2025	16,475		21,802		38,277
Accumulated depreciation
At 01 January 2025	16,475		14,604		31,079
Charge for the financial year	0		3,132		3,132
At 31 December 2025	16,475		17,736		34,211
Net book value
At 31 December 2025	0		4,066		4,066
At 31 December 2024	0		3,014		3,014

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	634
Additions	1
At 31 December 2025	635
Carrying value at 31 December 2025	635
Carrying value at 31 December 2024	634

6. Debtors

	2025		2024
	£		£
Trade debtors	737,640		847,942
Amounts owed by Parent undertakings	3,013,384		0
Amounts owed by own subsidiaries	19,963		0
Deferred tax asset	0		2,005
Corporation tax	560		582
Other debtors	420,619		436,229
	4,192,166		1,286,758

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	325,000		0
Trade creditors	114,643		92,109
Amounts owed to Group undertakings	60,001		0
Amounts owed to director	100,000		0
Accruals	67,751		89,406
Taxation and social security	132,542		288,453
Other creditors	17,479		1,571
	817,416		471,539

There are two floating charges in favour of HSBC UK Bank PLC registered for the HIF account and the bank loan over all assets of the company.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	758,333		0

There are two floating charges in favour of HSBC UK Bank PLC registered for the HIF account and the bank loan over all assets of the company.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
64,825 Ordinary shares of £ 1.00 each	64,825		64,825

10. Financial commitments

Other financial commitments

	2025		2024
	£		£
Total commitments under non-cancellable operating leases not provided for in the accounts	415,570		490,963

11. Related party transactions

Transactions with owners holding a participating interest in the entity

	2025		2024
	£		£
Amounts owed by parent company	3,013,384		0

12. Off Balance Sheet arrangements

The company has provided joint and several guarantees in respect of banking facilities of fellow group undertakings. No provision has been recognised as the directors consider it not probable that the guarantee will be called.