REGISTERED NUMBER: 03698533 (England and Wales)

Unaudited Financial Statements

For The Year Ended 28 February 2025

for

Emma Willis Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E C R Corfield

W J Tyne

REGISTERED OFFICE:

66 Jermyn Street

London

London

SW1Y 6NY

REGISTERED NUMBER:

03698533 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Tangible assets

4

1,241,544

1,236,012

CURRENT ASSETS

Stocks

5

310,083

326,017

Debtors

6

86,769

68,101

Cash at bank and in hand

415,399

658,708

812,251

1,052,826

CREDITORS

Amounts falling due within one year

7

362,284

379,836

NET CURRENT ASSETS

449,967

672,990

TOTAL ASSETS LESS CURRENT LIABILITIES

1,691,511

1,909,002

CREDITORS

Amounts falling due after more than one year

8

-

(427,223

)

PROVISIONS FOR LIABILITIES

(16,130

)

(14,689

)

NET ASSETS

1,675,381

1,467,090

CAPITAL AND RESERVES

Called up share capital

1,800

1,800

Share premium

289,244

289,244

Retained earnings

1,384,337

1,176,046

SHAREHOLDERS' FUNDS

1,675,381

1,467,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2025 and were signed on its behalf by:

E C R Corfield - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets

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

Short leasehold

-

10% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost and 15% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 March 2024

1,175,973

12,220

79,643

Additions

-

-

-

At 28 February 2025

1,175,973

12,220

79,643

DEPRECIATION

At 1 March 2024

23,520

9,115

59,809

Charge for year

11,760

311

3,967

At 28 February 2025

35,280

9,426

63,776

NET BOOK VALUE

At 28 February 2025

1,140,693

2,794

15,867

At 29 February 2024

1,152,453

3,105

19,834

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2024

203,827

128,243

1,599,906

Additions

30,596

1,597

32,193

At 28 February 2025

234,423

129,840

1,632,099

DEPRECIATION

At 1 March 2024

157,388

114,062

363,894

Charge for year

8,118

2,505

26,661

At 28 February 2025

165,506

116,567

390,555

NET BOOK VALUE

At 28 February 2025

68,917

13,273

1,241,544

At 29 February 2024

46,439

14,181

1,236,012

5.

STOCKS

28.2.25

29.2.24

£

£

Raw materials

147,406

152,805

Finished goods

138,907

146,113

Work-in-progress

23,770

27,099

310,083

326,017

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

24,180

26,584

Other debtors

2,470

1,017

Prepayments

60,119

40,500

86,769

68,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

-

53,882

Trade creditors

112,167

102,257

Tax

96,020

65,925

Social security and other taxes

11,674

14,026

VAT

43,800

44,605

Other creditors

27,874

22,777

Directors' current accounts

56,182

48,941

Accrued expenses

14,567

27,423

362,284

379,836

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans - 1-2 years

-

56,080

Bank loans - 2-5 years

-

180,972

Bank loan - more than 5 years

-

190,171

-

427,223

Amounts falling due in more than five years:

Repayable by instalments

Bank loan - more than 5 years

-

190,171

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.25

29.2.24

£

£

Within one year

132,000

132,000