Henry Poole And Company (Savile Row) Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—6

1. General Information

Henry Poole and Company (Savile Row) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Savile Row, London, W1S 3PJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover represents the invoiced value of goods sold, net of VAT, plus the estimated net sales value of contracted work completed to the end of the 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 dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives.

Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development 20% straight line

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each assets over its expected useful life, as follows:

Leasehold	10% Straight Line Basis
Plant & Machinery	15% Straight Line Basis

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.

2.5. Investment Properties

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

2.6. Leasing and Hire Purchase Contracts

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

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.

2.7. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Henry Poole And Company (Savile Row) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Financial Instruments

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

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

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity Instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.9. Foreign Currencies

Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are taken to profit and loss account.

2.10. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.

The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Current and deferred tax assets and liabilities are not discounted

Current tax

The tax currently payable is based on taxable profit for the year. 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 years 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 was written off at year end.

2.11. Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2.12. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.

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Henry Poole And Company (Savile Row) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

The average monthly number of persons (including directors) employed by the company during the year was: 27 (2023: 28)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	35,190
Additions	547

As at 31 December 2024	35,737

Amortisation
As at 1 January 2024	34,551
Provided during the period	170

As at 31 December 2024	34,721

Net Book Value
As at 31 December 2024	1,016

As at 1 January 2024	639

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2024	526,279	396,512	922,791
Additions	588	4,425	5,013

As at 31 December 2024	526,867	400,937	927,804

Depreciation
As at 1 January 2024	507,566	366,599	874,165
Provided during the period	6,361	8,688	15,049

As at 31 December 2024	513,927	375,287	889,214

Net Book Value
As at 31 December 2024	12,940	25,650	38,590

As at 1 January 2024	18,713	29,913	48,626

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Henry Poole And Company (Savile Row) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Unlisted
	£
Cost
As at 1 January 2024	1

As at 31 December 2024	1

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1

As at 1 January 2024	1

7. Stocks

	2024	2023
	£	£
Stock	207,158	179,915
Work in progress	963,671	866,282

	1,170,829	1,046,197

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	74,812	88,396
Prepayments and accrued income	121,362	135,096
Other debtors	83,946	63,373

	280,120	286,865

9. Current Asset Investments

	2024	2023
	£	£
Other investments, held for sale	647,826	598,940

10. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	49,916	41,436
Corporation tax	178,506	103,417
Other taxes and social security	38,613	42,265
Deposit for works held on account	2,891,331	2,605,952
Accruals and deferred income	121,076	132,419

	3,279,442	2,925,489

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Henry Poole And Company (Savile Row) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
9,867 Ordinary Shares of £ 1.00 each	9,867	9,867
13 Ordinary A shares of £ 1.00 each	13	13

	9,880	9,880

Preference Shares

	2024	2023
Allotted, called up and fully paid	£	£
13,000 Preference Shares of £ 1.00 each	13,000	13,000

Preference share capital is made up of 10% cumulative preference shares of £1 each.

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	170,800	170,800
Later than one year and not later than five years	128,100	298,900

	298,900	469,700

13. Exceptional Items

During the period, the company received a refund of £120,252 related to overpayments of business rates. This refund represents a recovery of previously expensed Business rates in operating costs.

Due to its infrequent and unusual nature, this refund is classified as an "Other Exceptional Operating Cost" within the income statement. The negative value signifies a credit to operating expenses, thereby reducing the overall operating costs for the period.

14. Audit Information

The auditor's report on the accounts of Henry Poole And Company (Savile Row) Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Statutory Auditor.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,016		639
Tangible Assets	5		38,590		48,626
Investments	6		1		1

			39,607		49,266
CURRENT ASSETS
Stocks	7	1,170,829		1,046,197
Debtors	8	280,120		286,865
Investments	9	647,826		598,940
Cash at bank and in hand		3,628,641		2,912,482

		5,727,416		4,844,484
Creditors: Amounts Falling Due Within One Year	10	(3,279,442 )		(2,925,489 )

NET CURRENT ASSETS (LIABILITIES)			2,447,974		1,918,995

TOTAL ASSETS LESS CURRENT LIABILITIES			2,487,581		1,968,261

NET ASSETS			2,487,581		1,968,261

CAPITAL AND RESERVES
Called up share capital	11		22,880		22,880
Capital redemption reserve			4,433		4,433
Income Statement			2,460,268		1,940,948

SHAREHOLDERS' FUNDS			2,487,581		1,968,261