| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| FOR |
| TRUE RELIGION BRAND JEANS U.K. LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| FOR |
| TRUE RELIGION BRAND JEANS U.K. LIMITED |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TRUE RELIGION BRAND JEANS U.K. LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 55 Loudoun Road |
| St John's Wood |
| London |
| NW8 0DL |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| BALANCE SHEET |
| 1 FEBRUARY 2025 |
| 1.2.25 | 3.2.24 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash and cash equivalents |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| 1. | STATUTORY INFORMATION |
| True Religion Brand Jeans U.K. Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company has changed its accounting reference date for the current financial year to align with the 4-5-4 retail calendar. This approach is intended to better reflect the operational and reporting cycles of the business. As a result, the current reporting period covers a different number of days compared to the previous year. Comparative figures may therefore not be entirely comparable. |
| However, the directors consider this change to provide more relevant and reliable financial information for users of the financial statements. |
| 2. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for designer clothing provided in the normal course of business, and is shown net of VAT and other sales related taxes. |
| The company uses the industry standard NRF 4-5-4 calendar each year. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on sale of the goods), the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax currently payable is based on taxable profit for the period comprises current and deferred tax. Taxable profit differs from net profit as reported in the Profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| Deferred tax |
| Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. |
| Foreign exchange |
| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. |
| Leases |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. |
| Employee benefits |
| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
| Impairment of fixed assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | and | Computer |
| leasehold | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 4 February 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 1 February 2025 |
| DEPRECIATION |
| At 4 February 2024 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 1 February 2025 |
| NET BOOK VALUE |
| At 1 February 2025 |
| At 3 February 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 1.2.25 | 3.2.24 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 4,734,912 | 4,982,519 |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 1.2.25 | 3.2.24 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| TRUE RELIGION BRAND JEANS U.K. LIMITED (REGISTERED NUMBER: 06899998) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 4 FEBRUARY 2024 TO 1 FEBRUARY 2025 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 1.2.25 | 3.2.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 1.2.25 | 3.2.24 |
| value: | £ | £ |
| Ordinary | £1 | 2,834,061 | 2,834,061 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of the exemption available in accordance with FRS 102 section 33 'Related party disclosures' not to disclose transactions between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions. |
| 11. | PARENT COMPANY |
| The parent company that draws up accounts on the smallest group of undertakings is TR Apparel Parent, Inc., a company registered in the USA (33-2268420) by virtue of indirectly owning 100% of the share capital. The registered address is 500 W 109th Street, Suite 300, Gardena, CA 90248. |
| It is the belief of the directors' that there is no ultimate controlling party. |