IRIS Accounts Production v25.1.4.42 12524026 Board of Directors 31.12.24 1.8.23 31.12.24 31.12.24 true true true false true true false false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125240262023-07-31125240262024-12-31125240262023-08-012024-12-31125240262022-07-31125240262022-08-012023-07-31125240262023-07-3112524026ns15:EnglandWales2023-08-012024-12-3112524026ns14:PoundSterling2023-08-012024-12-3112524026ns10:Director12023-08-012024-12-3112524026ns10:Consolidated2024-12-3112524026ns10:ConsolidatedGroupCompanyAccounts2023-08-012024-12-3112524026ns10:PrivateLimitedCompanyLtd2023-08-012024-12-3112524026ns10:Consolidatedns10:FRS1022023-08-012024-12-3112524026ns10:Consolidatedns10:Audited2023-08-012024-12-3112524026ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-12-3112524026ns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-12-3112524026ns10:Consolidatedns10:LargeCompaniesRegimeForDirectorsReport2023-08-012024-12-3112524026ns10:Consolidatedns10:LargeCompaniesRegimeForAccounts2023-08-012024-12-3112524026ns10:FullAccounts2023-08-012024-12-3112524026ns5:Subsidiary12023-08-012024-12-3112524026ns5:Subsidiary22023-08-012024-12-311252402612023-08-012024-12-3112524026ns10:OrdinaryShareClass12023-08-012024-12-3112524026ns10:Consolidated2023-08-012024-12-3112524026ns10:Director22023-08-012024-12-3112524026ns10:CompanySecretary12023-08-012024-12-3112524026ns10:RegisteredOffice2023-08-012024-12-3112524026ns10:Director32023-08-012024-12-3112524026ns10:Director42023-08-012024-12-3112524026ns10:Consolidated2022-08-012023-07-3112524026ns5:CurrentFinancialInstruments2024-12-3112524026ns5:CurrentFinancialInstruments2023-07-3112524026ns5:ShareCapital2024-12-3112524026ns5:ShareCapital2023-07-3112524026ns5:RetainedEarningsAccumulatedLosses2024-12-3112524026ns5:RetainedEarningsAccumulatedLosses2023-07-3112524026ns5:ShareCapital2022-07-3112524026ns5:RetainedEarningsAccumulatedLosses2022-07-3112524026ns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3112524026ns5:RetainedEarningsAccumulatedLosses2023-08-012024-12-3112524026ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-12-3112524026ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-012024-12-3112524026ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-012024-12-3112524026ns5:ComputerSoftware2023-08-012024-12-3112524026ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-08-012024-12-3112524026ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-012024-12-3112524026ns5:LeaseholdImprovements2023-08-012024-12-3112524026ns5:FurnitureFittings2023-08-012024-12-3112524026ns5:MotorVehicles2023-08-012024-12-3112524026ns5:ComputerEquipment2023-08-012024-12-3112524026ns5:CostValuation2023-07-31125240261ns5:Subsidiary12023-08-012024-12-3112524026ns5:Subsidiary12024-12-3112524026ns5:Subsidiary12023-07-3112524026ns5:Subsidiary12022-08-012023-07-3112524026ns5:Subsidiary232023-08-012024-12-3112524026ns5:Subsidiary22024-12-3112524026ns5:Subsidiary22023-07-3112524026ns5:Subsidiary22022-08-012023-07-3112524026ns10:OrdinaryShareClass12024-12-3112524026ns5:RetainedEarningsAccumulatedLosses2023-07-31
REGISTERED NUMBER: 12524026 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

FOR

F&F STORES HOLDINGS LIMITED

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


F&F STORES HOLDINGS LIMITED

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
Milton Keynes
MK1 1LH





REGISTERED NUMBER: 12524026 (England and Wales)





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

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

The directors present their strategic report of the company and the group 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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

GROUP 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.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors consider the Financial Key Performance Indicators to be the following:

F&F Stores Limited 2024 2023
£ £

UK sales 65,220,098 46,375,655
EU sales 72,225,491 49,274,668
Rest of the world sales 22,114,652 22,350
Total sales 159,560,241 95,672,673




F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

GROUP 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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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 and the group 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 a holding company, whilst its trading subsidiaries principally operate as online goods retailers.

DIVIDENDS
The profit for the period, after taxation, amounted to £8,709,199 (2023: £4,471,519).

Ordinary dividends were paid amounting to £1,133,000 (2023: £1,000,000). The directors do not recommend payment of a further dividend.

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:

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

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.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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.


F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

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 HOLDINGS LIMITED

Opinion
We have audited the financial statements of F&F Stores Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
F&F STORES HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 pages five and six, 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 group's and the parent 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 group or the parent 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
F&F STORES HOLDINGS LIMITED


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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

CONSOLIDATED
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 159,560,241 95,672,673

Cost of sales 133,932,900 83,047,427
GROSS PROFIT 25,627,341 12,625,246

Administrative expenses 12,323,457 6,523,454
OPERATING PROFIT 5 13,303,884 6,101,792

Interest receivable and similar income 255,689 190,794
13,559,573 6,292,586

Interest payable and similar expenses 6 1,628,445 515,893
PROFIT BEFORE TAXATION 11,931,128 5,776,693

Tax on profit 7 3,221,929 1,305,174
PROFIT FOR THE FINANCIAL PERIOD 8,709,199 4,471,519
Profit attributable to:
Owners of the parent 8,709,199 4,471,519

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

CONSOLIDATED
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 8,709,199 4,471,519


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

8,709,199

4,471,519

Total comprehensive income attributable to:
Owners of the parent 8,709,199 4,471,519

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - 141,266
Tangible assets 11 4,562,095 5,411,624
Investments 12 - -
4,562,095 5,552,890

CURRENT ASSETS
Stocks 13 22,010,618 15,450,186
Debtors 14 16,375,965 3,980,819
Cash at bank 3,537,939 1,508,703
41,924,522 20,939,708
CREDITORS
Amounts falling due within one year 15 23,222,656 10,804,836
NET CURRENT ASSETS 18,701,866 10,134,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,263,961

15,687,762

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 23,262,961 15,686,762
SHAREHOLDERS' FUNDS 23,263,961 15,687,762

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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

COMPANY BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 135 135
135 135

CREDITORS
Amounts falling due within one year 15 135 135
NET CURRENT LIABILITIES (135 ) (135 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 (1,000 ) (1,000 )
SHAREHOLDERS' FUNDS - -

Company's profit for the financial year 1,133,000 1,000,000

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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

CONSOLIDATED 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 1,000 12,215,243 12,216,243

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 4,471,519 4,471,519
Balance at 31 July 2023 1,000 15,686,762 15,687,762

Changes in equity
Dividends - (1,133,000 ) (1,133,000 )
Total comprehensive income - 8,709,199 8,709,199
Balance at 31 December 2024 1,000 23,262,961 23,263,961

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

COMPANY 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 1,000 (1,000 ) -

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 1,000,000 1,000,000
Balance at 31 July 2023 1,000 (1,000 ) -

Changes in equity
Dividends - (1,133,000 ) (1,133,000 )
Total comprehensive income - 1,133,000 1,133,000
Balance at 31 December 2024 1,000 (1,000 ) -

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

CONSOLIDATED CASH FLOW 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 £    £   
Cash flows from operating activities
Cash generated from operations 1 5,952,169 5,341,781
Interest paid (1,628,445 ) (515,893 )
Tax paid (1,399,168 ) (1,817,408 )
Net cash from operating activities 2,924,556 3,008,480

Cash flows from investing activities
Purchase of intangible fixed assets (156,208 ) (154,108 )
Purchase of tangible fixed assets (179,964 ) (1,123,586 )
Sale of intangible fixed assets 297,474 -
Sale of tangible fixed assets 20,689 -
Interest received 255,689 190,794
Net cash from investing activities 237,680 (1,086,900 )

Cash flows from financing activities
Equity dividends paid (1,133,000 ) (1,000,000 )
Net cash from financing activities (1,133,000 ) (1,000,000 )

Increase in cash and cash equivalents 2,029,236 921,580
Cash and cash equivalents at beginning of
period

2

1,508,703

587,123

Cash and cash equivalents at end of period 2 3,537,939 1,508,703

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Profit before taxation 11,931,128 5,776,693
Depreciation charges 993,479 628,707
Loss on disposal of fixed assets 15,326 88,165
Finance costs 1,628,445 515,893
Finance income (255,689 ) (190,794 )
14,312,689 6,818,664
Increase in stocks (6,560,432 ) (1,572,197 )
(Increase)/decrease in trade and other debtors (12,395,146 ) 2,391,719
Increase/(decrease) in trade and other creditors 10,595,058 (2,296,405 )
Cash generated from operations 5,952,169 5,341,781

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024
31.12.24 1.8.23
£    £   
Cash and cash equivalents 3,537,939 1,508,703
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,508,703 587,123


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank 1,508,703 2,029,236 3,537,939
1,508,703 2,029,236 3,537,939
Debt
Debts falling due within 1 year (1,337,723 ) 688,584 (649,139 )
(1,337,723 ) 688,584 (649,139 )
Total 170,980 2,717,820 2,888,800

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

1. STATUTORY INFORMATION

F&F Stores Holdings 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 General 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

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.
Freehold property - 4% on cost
Long leasehold - 20% on cost
Improvements to property - 4% 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 Consolidated 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 HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

NOTES TO THE CONSOLIDATED 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 group operates a defined contribution pension scheme. Contributions payable to the group'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. EMPLOYEES AND DIRECTORS
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Wages and salaries 5,064,713 2,791,023
Social security costs 496,193 257,116
Other pension costs 61,922 28,499
5,622,828 3,076,638

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

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

4. EMPLOYEES AND DIRECTORS - continued

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

5. 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 993,478 615,866
Loss on disposal of fixed assets 15,326 88,165
Computer software amortisation - 12,842
Auditors' remuneration 12,000 12,000
Foreign exchange differences (176,467 ) (368,574 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.23
to Year Ended
31.12.24 31.7.23
£    £   
Bank interest 91,144 159,419
Loan interest 1,537,301 356,474
1,628,445 515,893

7. 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
Romanian withholding tax 325,295 231,301

Tax on profit 3,221,929 1,305,174

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

NOTES TO THE CONSOLIDATED 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 1,133,000 1,000,000

10. INTANGIBLE FIXED ASSETS

Group
Patents
and Development Computer
licences costs software Totals
£    £    £    £   
Cost
At 1 August 2023 80 215 154,108 154,403
Additions - - 156,208 156,208
Disposals - - (310,316 ) (310,316 )
At 31 December 2024 80 215 - 295
Amortisation
At 1 August 2023 80 215 12,842 13,137
Eliminated on disposal - - (12,842 ) (12,842 )
At 31 December 2024 80 215 - 295
Net book value
At 31 December 2024 - - - -
At 31 July 2023 - - 141,266 141,266

11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Long to
property leasehold property
£    £    £   
Cost
At 1 August 2023 3,230,974 41,168 39,642
Additions - - -
Disposals - - -
At 31 December 2024 3,230,974 41,168 39,642
Depreciation
At 1 August 2023 65,163 1,372 33,490
Charge for period 50,095 11,665 5,060
Eliminated on disposal - - -
At 31 December 2024 115,258 13,037 38,550
Net book value
At 31 December 2024 3,115,716 28,131 1,092
At 31 July 2023 3,165,811 39,796 6,152

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 August 2023 516,824 185,665 2,436,945 6,451,218
Additions 66,624 18,859 94,481 179,964
Disposals - (88,224 ) (2,804 ) (91,028 )
At 31 December 2024 583,448 116,300 2,528,622 6,540,154
Depreciation
At 1 August 2023 133,480 122,848 683,241 1,039,594
Charge for period 98,201 14,473 813,984 993,478
Eliminated on disposal - (55,013 ) - (55,013 )
At 31 December 2024 231,681 82,308 1,497,225 1,978,059
Net book value
At 31 December 2024 351,767 33,992 1,031,397 4,562,095
At 31 July 2023 383,344 62,817 1,753,704 5,411,624

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
Cost
At 1 August 2023
and 31 December 2024 135
Net book value
At 31 December 2024 135
At 31 July 2023 135

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

F&F Stores Limited
Registered office: Same as the parent company, F&F Stores Holdings Limited.
Nature of business: Online goods retailer.
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 14,980,033 15,391,974
Profit for the period/year 8,515,758 4,179,009

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were noted as above.

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

12. FIXED ASSET INVESTMENTS - continued

F&F Stores Holdings Limited Filiala S.R.L
Registered office: No.6 Soseaua de Centura Clinceni, Ilfov, Romania.
Nature of business: Online goods retailer.
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 489,364 295,923
Profit for the period/year 193,441 292,510

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were noted as above.


13. STOCKS

Group
2024 2023
£    £   
Stocks 22,010,618 15,450,186

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 3,193,440 702,104
Other debtors 12,567,990 2,795,227
VAT 557,858 -
Prepayments and accrued income 56,677 483,488
16,375,965 3,980,819

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.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) 649,139 1,337,723 - -
Trade creditors 18,339,131 7,379,256 - -
Tax 2,896,634 1,073,873 - -
Social security and other taxes 229,193 52,178 - -
VAT - 407,971 - -
Other creditors 429,296 422,761 135 135
Accruals and deferred income 679,263 131,074 - -
23,222,656 10,804,836 135 135

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

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.

16. LOANS

An analysis of the maturity of loans is given below:

Group
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.

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
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

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 1 1,000 1,000

F&F STORES HOLDINGS LIMITED (REGISTERED NUMBER: 12524026)

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

19. RESERVES

Group
Retained
earnings
£   

At 1 August 2023 15,686,762
Profit for the period 8,709,199
Dividends (1,133,000 )
At 31 December 2024 23,262,961

Company
Retained
earnings
£   

At 1 August 2023 (1,000 )
Profit for the period 1,133,000
Dividends (1,133,000 )
At 31 December 2024 (1,000 )


20. RELATED PARTY DISCLOSURES

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.

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