ACCOUNTS - Final Accounts

Registered number: 02655839

OTTER HOUSE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2026

OTTER HOUSE LIMITED

REGISTERED NUMBER:02655839

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	5		388,898		462,484
			388,898		462,484
Current assets
Stocks	6	1,130,325		1,250,574
Debtors: amounts falling due within one year	7	1,522,635		1,937,525
Cash at bank and in hand		894,123		692,657
		3,547,083		3,880,756
Creditors: amounts falling due within one year	8	(2,396,582)		(2,794,045)
Net current assets			1,150,501		1,086,711
Total assets less current liabilities			1,539,399		1,549,195
Provisions for liabilities
Deferred tax	9	(21,310)		(13,850)
Net assets			1,518,089		1,535,345

Capital and reserves
Called up share capital	10		50,000		50,000
Profit and loss account			1,468,089		1,485,345
			1,518,089		1,535,345

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G L Richmond

Director

Date: 30 September 2026

The notes on pages 2 to 8 form part of these financial statements.

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OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026


1.	COMPANY INFORMATION

Otter House Limited is a private company limited by shares and incorporated in the United Kingdom. It has the registered number 02655839. The registered office is Exe Box, Exeter, Devon, EX2 8FD.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis.

Subsequent to the year end, the company was acquired by Vista Stationery and Print Limited. The directors have considered the impact of this acquisition, together with the group's future plans for the Company, which include the intention to transfer the company's trade and assets into another group undertaking at a future date.

At the date of approval of these financial statements, no such transfer has occurred and no decision has been made that would impact the company's ability to realise its assets or discharge its obligations for at least 12 months from the date of this report. In assessing the appropriateness of the going concern basis, the directors have considered the company's forecast cash flows, working capital requirements and the financial support available from the wider group. Based on this assessment, the directors have a reasonable expectation that the Company will have adequate resources to continue to meet its obligations as they fall due for a period of at least twelve months from the date of approval of these financial statements.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

				Short-term leasehold property	-	Over the length of the lease
				Plant and machinery	-	25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the statement income and retained earnings.

2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.10

CREDITORS

Short-term 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.

2.11

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.12

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.13

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.14

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.15

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2026 was unqualified.

The audit report was signed on 1 October 2026 by Mark Munro BA FCA (senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

4.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 59 (2025: 60).

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OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

5.	TANGIBLE FIXED ASSETS

		Short-term leasehold property	Plant and machinery	Total
		£	£	£
	COST OR VALUATION
	At 1 February 2025	354,720	1,873,781	2,228,501
	Additions	-	93,944	93,944
	Disposals	-	(649,099)	(649,099)
	At 31 January 2026	354,720	1,318,626	1,673,346
	DEPRECIATION
	At 1 February 2025	262,889	1,503,128	1,766,017
	Charge for the year on owned assets	20,808	120,075	140,883
	Disposals	-	(622,452)	(622,452)
	At 31 January 2026	283,697	1,000,751	1,284,448
	NET BOOK VALUE
	At 31 January 2026	71,023	317,875	388,898
	At 31 January 2025	91,831	370,653	462,484

6.	STOCKS
					2026	2025
					£	£

	Stock	1,130,325	1,250,574
		1,130,325	1,250,574

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OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

7.

DEBTORS

					2026	2025
					£	£


	Trade debtors	1,351,823	1,672,511
	Amounts owed by group undertakings	8,529	-
	Prepayments and accrued income	162,283	265,014
		1,522,635	1,937,525

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					2026	2025
					£	£

	Bank loans	381,148	80,654
	Trade creditors	839,855	1,201,445
	Amounts owed to group undertakings	151,241	534,295
	Other taxation and social security	530,183	422,660
	Other creditors	3,438	1,056
	Accruals and deferred income	490,717	553,935
		2,396,582	2,794,045

Secured loans:
The bank borrowings are secured by a debenture comprising fixed and floating charges over all the assets and undertakings of Otter House Limited. An unlimited company cross guarantee has been provided by Zebra MTD Limited and Otter House Limited to secure all liabilities of each other.

9.	DEFERRED TAXATION

		2026
		£

	At beginning of year	(13,850)
	Charged to profit or loss	(7,460)
	AT END OF YEAR	(21,310)

Page 7

OTTER HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

9.DEFERRED TAXATION (CONTINUED)

	The provision for deferred taxation is made up as follows:
					2026	2025
					£	£

	Fixed asset timing differences	(47,086)	(58,865)
	Losses and other deductions	25,776	45,015
		(21,310)	(13,850)

10.	SHARE CAPITAL
					2026	2025
					£	£

		ALLOTTED, CALLED UP AND FULLY PAID

		50,000 (2025: 50,000) Ordinary shares of £1.00 each	50,000	50,000

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contribution payable by the company to the fund and amounted to £52,236 (2025: £50,489). At the year end, £Nil was due by the company (2025: £Nil).

12.OTHER FINANCIAL COMMITMENTS

At the end of the financial year, the company had entered into forward contracts to purchase $80,000 at a cost of £59,480.

13.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the company was acquired by Vista Stationery and Print Limited. The company has continued to trade following the acquisition and is expected to continue operating as part of the Vista Stationery and Print group. The acquisition is considered a non-adjusting event.

14.	CONTROLLING PARTY

The ultimate parent undertaking is Zebra MTD Limited, which is the only company in which the results of the company are consolidated. The registered office of Zebra MTD Limited is the same as that of the Company.

Consolidated financial statements are available to the public and may be obtained from the Registrar of Companies, Crown Way, Maindy, Cardiff.

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