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REGISTERED NUMBER: 09707030 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

FOR

F&F STORES LTD

F&F STORES LTD (REGISTERED NUMBER: 09707030)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


F&F STORES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024







DIRECTORS: R Florea
A L C Florea





SECRETARY: A L C Florea





REGISTERED OFFICE: 8 Dawson Road
Bletchley
Buckinghamshire
MK1 1LH





REGISTERED NUMBER: 09707030 (England and Wales)





AUDITORS: MDG Business Associates Audit Limited
Room 73
Wrest House
Silsoe
Bedfordshire
MK45 4HR

F&F STORES LTD (REGISTERED NUMBER: 09707030)

STRATEGIC REPORT
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

The directors present their strategic report for the period 1 August 2023 to 31 December 2024.

COMPANY DESCRIPTION AND FUTURE OUTLOOK
F&F Stores Ltd is part of the F&F Stores Holdings Limited Group of Companies along with the Romanian subsidiary F&F Stores Holdings Limited Filiala S.R.L. F&F Stores Ltd is an e-commerce company focusing primarily on sales via the Amazon Marketplace across the UK, Europe and North America. However, the company also has a strong presence on eBay, Debenhams, Shein and their own website www.gettrend.com.

The growth since the company's incorporation in July 2015 has been incredibly strong. The work to date in selecting brand licenses and then developing products has allowed the company to continue this growth, along with developing their own brands, such as City Comfort, Deco Express and Kreative Kraft. As the growth continues, more development has been undertaken in multiple product lines such as children's toys and kitchen utensils.

The outlook of the company looks to be very strong with the growth of sales into new territories. The company continues to look at new routes to market through new online platforms.

F&F Stores Ltd continues to upskill its team and improving its financial reporting using analytical tools.

In the foreseeable future, there will be various challenges that F&F Stores Ltd will encounter. This is primarily because of the fall in demand for retail products globally, high inflation and the threat of an increase in trade tariffs.

REVIEW OF BUSINESS
The group had a very successful trading period considering the fall in global demand for retail, and the continued increases in inflation, resulting in the reduction in both gross profit margins and net profit. The group enjoys positive relationships with both customers and suppliers alike and is looking forward to further growth in the forthcoming year.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors continually assess the level of risk that is likely to occur in the running of the group, and for any major activity or business change which occurs, a detailed risk assessment is carried out.

The warehouses are now very well run with preventative maintenance carried out in a planned and controlled manner. The principal risk of the company is that stock levels are maintained at reasonable levels at times of high demand. We add value to our clients due to the high level of service we offer, both in the UK and EU, and the traceability of products. F&F are well placed to continue increasing the efficiency of their day-to-day operations and continue to provide high levels of customer service to clients.


F&F STORES LTD (REGISTERED NUMBER: 09707030)

STRATEGIC REPORT
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

SECTION 172(1) STATEMENT
The directors of F&F Stores Ltd confirm that, during the financial period ended 31 December 2024, they have acted in a way that they consider, in good faith, to promote the success of the company for the benefit of its members as a whole, in accordance with their duties under section 172 of the Companies Act 2006. In doing so, the directors have had regard to the matters set out in section 172(1)(a) to (f).

In particular:

(a) The likely consequences of any decision in the long term
The board regularly considers the long-term impact of its decisions, especially with respect to our digital infrastructure, sustainability of supply chains, and customer trust. Investments in logistics, technology, and data security are aimed at ensuring continued growth and resilience.

(b) The interests of the company's employees
We are committed to creating a positive and supportive environment for our employees.

(c) The need to foster business relationships with suppliers, customers and others
Strong relationships with suppliers and customers are critical to our business. We work closely with suppliers to ensure ethical sourcing and timely delivery. We also maintain clear communication with our customers and regularly gather feedback to improve user experience and satisfaction.

(d) The impact of the company's operations on the community and the environment
We recognise our responsibility to minimise our environmental impact. In the last year, we expanded our use of recyclable packaging and optimised our delivery routes to reduce emissions.

(e) The desirability of maintaining a reputation for high standards of business conduct
Our business is built on trust. We maintain clear policies on data protection, consumer rights, and ethical business practices. Staff undergo regular training on these policies, and we hold ourselves to high standards of transparency and fairness.

(f) The need to act fairly as between members of the company
The board considers all shareholders equally in its decision-making, ensuring transparent communication and providing fair access to information through regular reports and meetings. The directors are mindful that effective engagement with stakeholders is key to fulfilling their duties under section 172 and promoting the long-term success of the company.


STREAMLINED ENERGY AND CARBON REPORTING
The company is committed to reducing its Green House Gasses (GHG) emissions and are working towards achieving the environmental targets set by the Streamlined Energy Carbon Reporting (SECR) framework.

Our approach to reporting is based on the GHG Protocol Corporate Accounting and Reporting Standard. In line with the guidance on SECR we have included the energy and emissions for the buildings we own and operate and also those where we lease facilities and are responsible for energy consumption.

We are virtually net zero on our main UK warehouse and our warehouse in Romania. For our other UK warehouses, the annual usage was 25,320 KWH of Grid Supplied Electricity (scope 2) and 0 KWH of Gaseous and other fuels (scope 1).

Scope 1 and 2 consumption, CO2 emission data and Emission Factor Database used are considered with the 2020 UK Government environmental reporting guidance.

The company continues to implement energy efficiency measures including limiting the number of vehicle journeys by making use of technologies and the promotion of electric non-commercial vehicles for our employees

The company will continue to identify means to improve energy efficiency and monitor our impact on the environment and the areas in which we work.


F&F STORES LTD (REGISTERED NUMBER: 09707030)

STRATEGIC REPORT
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

NON FINANCIAL KEY PERFORMANCE INDICATORS
In a company this size the directors consider there are collectively other numerous non-financial performance indicators but none individually are key.

FINANCIAL RISK MANAGEMENT
The company had no hedging arrangements at 31 December 2024. The company has exposure to foreign exchange rate movements but constantly reviews this position to ensure that this is managed as much as possible on a timely basis through the trading year.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors are responsible for determining the level of risk acceptable to the company. This is subject to regular review. The company seeks to mitigate its risks through the application of strict limits, controls and a monitoring process at operational level.

CREDIT RISK
Credit risk is the risk that counterparties will not be able to meet their obligations as they fall due. There are regular credit reviews of counterparty limits by the directors.

OPERATIONAL RISK
Operational risk is caused by failures in business process, systems or physical infrastructure that support them that have the potential to result in financial loss of reputational damage. This includes errors, omissions, systems failure, lack of resources, theft of physical assets and deliberate acts such as fraud.

There is a risk that the key IT systems could fail causing a loss of business and reputational damage. This is mitigated by a local and constantly available IT service for support and an efficient back up service and business continuity plan.

The directors maintain strong internal controls to prevent the occurrence of fraud and other potential system failures as noted above.

BUSINESS RISK
There is a risk that the economic demand for the company's services will diminish, resulting in less income. These risks are mitigated by the company having a relatively low-cost base and a diversified customer base across the UK and EU.

LIQUIDITY RISK
The company ensures that liquidity is maintained by monitoring cash balances daily to ensure it retains flexibility in the management of cash flows.

ON BEHALF OF THE BOARD:





A L C Florea - Director


7 August 2025

F&F STORES LTD (REGISTERED NUMBER: 09707030)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the period 1 August 2023 to 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review continued to be that of an online goods retailer.

DIVIDENDS
The profit for the period amounted to £8,515,758 (2023: £4,179,009). Dividends of £8,927,599 have been paid in the period ended 31st December 2024 (2023: £1,000,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

R Florea
A L C Florea

Other changes in directors holding office are as follows:

L D Florea - resigned 14 December 2023
M Florea - resigned 14 December 2023

FINANCIAL INSTRUMENTS
The company finances its activities with a combination of cash, bank loans, intercompany loans and operating leases. Other financial assets and liabilities such as trade debtors and trade creditors, arise from the company's operating activities.

Financial instruments give rise to foreign currency, credit price and liquidity risk. In accordance with S414C (11) of the Companies Act 2006, the directors have presented information of financial risk management objectives in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained
in the financial statements;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

F&F STORES LTD (REGISTERED NUMBER: 09707030)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024


AUDITORS
The auditors, MDG Business Associates Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A L C Florea - Director


7 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
F&F STORES LTD

Opinion
We have audited the financial statements of F&F Stores Ltd (the 'company') for the period ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 December 2024 and of its profit for the period 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 Auditors' 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 directors' 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 financial statements are 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 in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the 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 or the Report of the Directors.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
F&F STORES LTD


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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.

Auditors' 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 a Report of the Auditors 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:

We have assessed that there is a low risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations central to the trading activities of the company. The assessment has been based upon a substantive testing approach to key identified risk areas, principally being revenue recognition and the threat of override controls by local management. No suspected fraud, breach or other non-compliance with underlying laws and regulations has been identified during sample testing undertaken during the audit process and no such issues have been raised by the board of directors or local management prior to making this assessment. A full review of available board minutes, and other supporting third party documentation where available, has been undertaken and no items have come to our attention which require to be reported to the user of the financial statements. The company has strong internal controls and our audit has indicated no instances of managerial override of controls, including through testing of journal entries and other adjustments for appropriateness. No transactions have been identified as being made outside the normal course of business from work we have performed in each key risk area of the audit. The directors and other key local officers are informed management and as such they make regular review to ensure the company is compliant in all instances.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Michael Grange BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of MDG Business Associates Audit Limited
Room 73
Wrest House
Silsoe
Bedfordshire
MK45 4HR

7 August 2025

F&F STORES LTD (REGISTERED NUMBER: 09707030)

INCOME STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

Period
1.8.23
to Year Ended
31.12.24 31.7.23
Notes £    £   

TURNOVER 4 159,560,241 95,672,673

Cost of sales 137,056,946 84,971,788
GROSS PROFIT 22,503,295 10,700,885

Administrative expenses 9,809,291 5,285,688
OPERATING PROFIT 6 12,694,004 5,415,197

Interest receivable and similar income 255,689 190,794
12,949,693 5,605,991

Interest payable and similar expenses 7 1,537,301 353,109
PROFIT BEFORE TAXATION 11,412,392 5,252,882

Tax on profit 8 2,896,634 1,073,873
PROFIT FOR THE FINANCIAL PERIOD 8,515,758 4,179,009

F&F STORES LTD (REGISTERED NUMBER: 09707030)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

Period
1.8.23
to Year Ended
31.12.24 31.7.23
Notes £    £   

PROFIT FOR THE PERIOD 8,515,758 4,179,009


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

8,515,758

4,179,009

F&F STORES LTD (REGISTERED NUMBER: 09707030)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - 141,266
Tangible assets 11 338,754 431,088
338,754 572,354

CURRENT ASSETS
Stocks 12 20,763,401 9,585,598
Debtors 13 12,367,018 13,900,306
Cash at bank 3,479,827 1,286,171
36,610,246 24,772,075
CREDITORS
Amounts falling due within one year 14 21,968,867 9,952,455
NET CURRENT ASSETS 14,641,379 14,819,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,980,133

15,391,974

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 14,980,033 15,391,874
SHAREHOLDERS' FUNDS 14,980,133 15,391,974

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by:





A L C Florea - Director


F&F STORES LTD (REGISTERED NUMBER: 09707030)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 100 12,212,865 12,212,965

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 4,179,009 4,179,009
Balance at 31 July 2023 100 15,391,874 15,391,974

Changes in equity
Dividends - (8,927,599 ) (8,927,599 )
Total comprehensive income - 8,515,758 8,515,758
Balance at 31 December 2024 100 14,980,033 14,980,133

F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

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

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102" The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. The financial statements are prepared in sterling, which is the functional currency of the entity.

3. ACCOUNTING POLICIES

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

The company has considerable financial resources and as a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the uncertain economic outlook.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

The comparatives relate to the year 01 August 2022 to 31 July 2023.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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

Taxation
Taxation for the period 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.


F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued
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 period 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.

Going concern
In preparing these financial statements, the directors have assessed the ability of the company to continue to operate for the period of at least twelve months from the date of signing the financial statements.

The directors undertook a risk assessment and forecasting exercise to assess the company's liquidity position. The assessments include performing cashflow sensitivity analysis focusing on income and cost levels. In addition, reverse stress testing is performed to assess the levels of performance where cash availability would breach. The results of this analysis continued to demonstrate that there is sufficient cash availability.

Based on current trading performance, and the sensitivity and reverse stress testing performed, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing these financial statements and accordingly they continue to adopt the going concern basis in preparing these financial statements.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
United Kingdom 65,220,098 46,375,655
Europe 72,225,491 49,274,668
Rest of the world 22,114,652 22,350
159,560,241 95,672,673

5. EMPLOYEES AND DIRECTORS
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Wages and salaries 4,641,765 2,550,398
Social security costs 474,418 248,271
Other pension costs 61,922 28,499
5,178,105 2,827,168

F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
1.8.23
to Year Ended
31.12.24 31.7.23

Staff 89 104
Directors 2 4
91 108

Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Directors' remuneration 25,140 63,000

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Hire of plant and machinery 27,174 17,481
Other operating leases 100,477 18,598
Depreciation - owned assets 132,516 95,838
Loss on disposal of fixed assets 15,326 88,165
Computer software amortisation - 12,842
Auditors' remuneration 12,000 12,000
Foreign exchange differences (144,159 ) (309,217 )

7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Loan interest 1,537,301 353,109

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Current tax:
UK corporation tax 2,896,634 1,073,873
Tax on profit 2,896,634 1,073,873

F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

9. DIVIDENDS
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Ordinary shares of 1 each
Interim 8,927,599 1,000,000

10. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
At 1 August 2023 154,108
Additions 156,208
Disposals (310,316 )
At 31 December 2024 -
Amortisation
At 1 August 2023 12,842
Eliminated on disposal (12,842 )
At 31 December 2024 -
Net book value
At 31 December 2024 -
At 31 July 2023 141,266

11. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 August 2023 41,168 430,130 179,494 92,250 743,042
Additions - 65,808 - 2,540 68,348
Disposals - - (82,279 ) - (82,279 )
At 31 December 2024 41,168 495,938 97,215 94,790 729,111
Depreciation
At 1 August 2023 1,372 129,989 121,948 58,645 311,954
Charge for period 11,665 95,338 13,294 12,219 132,516
Eliminated on disposal - - (54,113 ) - (54,113 )
At 31 December 2024 13,037 225,327 81,129 70,864 390,357
Net book value
At 31 December 2024 28,131 270,611 16,086 23,926 338,754
At 31 July 2023 39,796 300,141 57,546 33,605 431,088

12. STOCKS
2024 2023
£    £   
Stocks 20,763,401 9,585,598

F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,172,241 468,660
Amounts owed by group undertakings 4,144,244 10,344,904
Other debtors 4,436,431 2,611,419
VAT 557,858 -
Prepayments and accrued income 56,244 475,323
12,367,018 13,900,306

Included within 'Other debtors' is an amount of £521,099 (2023: £521,099) in respect of a rent deposit due to be recovered from the landlord in more than one year from the balance sheet date.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 649,139 1,337,723
Trade creditors 17,532,044 6,491,835
Tax 2,896,634 1,073,873
Social security and other taxes 229,193 45,804
VAT - 452,234
Other creditors 93,058 419,912
Accruals and deferred income 568,799 131,074
21,968,867 9,952,455

Bank loan interest is being charged at 0.63% per transactional advance over the term of the loan of 12 months.

Other loan interest was charged at 4% per annum over the term of the loan of 2 years.

Further loans undertaken by the company are secured by way of varying filed charges as detailed: i) a fixed charge incorporating a general pledge in favour of the bank lender ii) two debentures incorporating both fixed and floating charges. All charges are secured over the assets and undertakings of the company in favour of the specific lender. Loan interest is being charged at 3% per year above the Bank of England base rate.

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 649,139 1,337,723

Bank loan interest is being charged at 0.63% per transactional advance over the term of the loan of 12 months.

Other loan interest was charged at 4% per annum over the term of the loan of 2 years.

Further loan interest is being charged at 3% per year above the Bank of England base rate.

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 699,250 866,836
Between one and five years 2,097,750 2,852,862
2,797,000 3,719,698

F&F STORES LTD (REGISTERED NUMBER: 09707030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

18. RESERVES
Retained
earnings
£   

At 1 August 2023 15,391,874
Profit for the period 8,515,758
Dividends (8,927,599 )
At 31 December 2024 14,980,033

19. RELATED PARTY DISCLOSURES

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

Included within other creditors is an amount of £425 (2023: £678,286 debtor) due to the directors from the company. Interest of £Nil (2023: £32,299) has been charged on this balance during the period at Nil% (2023: 5%). During the period repayments of £678,286 were made to the company. There are no set repayment terms in place.

During the reporting year, the immediate parent company was F&F Stores Holdings Limited, a company registered in England and Wales. The company's results are included in the consolidated accounts of F&F Stores Holdings Limited as filed at Companies House with a copy available at the registered office of this company upon request.

On 14th December 2023 following a restructure of group ownership, the ultimate parent undertaking of F&F Stores Limited became R&A Retail Hub Co Limited, a company registered in England & Wales.