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HOUSE OF FU LEEDS LIMITED

Registered Number
11381606
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

HOUSE OF FU LEEDS LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

KOLLAKOWSKI, Ashley Oliver
STEVENS, Simon James

Registered Address

15-19 The Headrow
Leeds
LS1 6PU

Registered Number

11381606 (England and Wales)
HOUSE OF FU LEEDS LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3322,800420,655
322,800420,655
Current assets
Stocks420,09020,283
Debtors1,429,5561,566,299
Cash at bank and on hand196,61742,310
1,646,2631,628,892
Creditors amounts falling due within one year5(720,713)(600,499)
Net current assets (liabilities)925,5501,028,393
Total assets less current liabilities1,248,3501,449,048
Creditors amounts falling due after one year6(1,102,669)(1,296,559)
Net assets145,681152,489
Capital and reserves
Called up share capital100100
Profit and loss account145,581152,389
Shareholders' funds145,681152,489
The financial statements were approved and authorised for issue by the Board of Directors on 27 July 2025, and are signed on its behalf by:
STEVENS, Simon James
Director
Registered Company No. 11381606
HOUSE OF FU LEEDS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20252024
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 24359,482178,653124,58346,670709,388
Additions1,325-899-2,224
At 31 March 25360,807178,653125,48246,670711,612
Depreciation and impairment
At 01 April 2493,55491,55660,70942,914288,733
Charge for year129,546127,28785,79146,188388,812
On disposals(93,554)(91,556)(60,709)(42,914)(288,733)
At 31 March 25129,546127,28785,79146,188388,812
Net book value
At 31 March 25231,26151,36639,691482322,800
At 31 March 24265,92887,09763,8743,756420,655
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on Land & buildings over the life of the lease, and for all other tangible fixed assets as follows:
4.Stocks

2025

2024

££
Raw materials and consumables20,09020,283
Total20,09020,283
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables35,732124,333
Bank borrowings and overdrafts239,304300,467
Amounts owed to related parties49,760-
Taxation and social security311,53589,705
Finance lease and HP contracts5,19436,357
Other creditors14,67127,899
Accrued liabilities and deferred income64,51721,738
Total720,713600,499
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts586,014740,216
Amounts owed to related parties516,655556,343
Total1,102,6691,296,559
7.Obligations under finance leases
8.Related party transactions
House of Fu Group: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to House of Fu Group at the balance sheet date was £49,760 (2024: £34,301 owed by). House of Fu Manchester: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by House of Fu Manchester at the balance sheet date was £992,818 (2024: £997,116). Project House Trading Limited: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Project House at the balance sheet date was £77,500 (2024: £77,500). Super Friendz Limited: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Super Friendz at the balance sheet date was £nil (2024: £209). World Island Limited: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to World Island Ltd at the balance sheet date was £19,658 (2023: £39,658).