YVES SALOMON UK LIMITED - Filleted accounts

Registered number

05890499

YVES SALOMON UK LIMITED

Filleted Accounts

31 December 2024

YVES SALOMON UK LIMITED
Registered number:		05890499
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	5		544,751			610,377

Current assets
Stocks		2,405,601			2,619,200
Debtors	6	1,620,564			1,379,822
Cash at bank and in hand		2,021,583			397,638
		6,047,748			4,396,660

Creditors: amounts falling due within one year	7	(4,120,542)			(2,981,914)

Net current assets			1,927,206			1,414,746

Total assets less current liabilities			2,471,957			2,025,123

Creditors: amounts falling due after more than one year	8		-			(433,400)

Provisions for liabilities			(50,331)			(21,304)


Net assets			2,421,626			1,570,419

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			2,420,626			1,569,419

Shareholder's funds			2,421,626			1,570,419

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr T Salomon
Director
Approved by the board on 15 September 2025

YVES SALOMON UK LIMITED
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	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).

	Turnover
	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 garments and from the rendering of services for the repair and storage of garments. Turnover from the sale of garments is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services for the repair and storage of garments is recognised by reference to the stage of completion of the service.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings		over the lease or licence term
	Plant and machinery		25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Stock at the year end has been valued in euros, and has been translated into sterling at the average exchange rate of the year.

	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.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Operating lease commitments
	Operating lease commitments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Audit information

	The audit report is unqualified.

	Senior statutory auditor:	Panicos Soteriou
	Firm:	Soteriou Christou Ltd
	Date of audit report:	16 September 2025


3	Exceptional item				2024		2023
£						£
	Digital marketing costs				162,849		-

					162,849		-

	Exceptional digital marketing costs include charges from Shopify, Google and Meta, together with associated photographic and staff costs allocated by the parent undertaking in respect of the previous year.


4	Employees				2024		2023
Number						Number

	Average number of persons employed by the company				18		19


5	Tangible fixed assets
			Land and buildings		Plant and machinery etc		Total
£				£		£
	Cost
	At 1 January 2024		1,864,292		505,606		2,369,898
	Additions		-		140,774		140,774
	Disposals		(15,605)		-		(15,605)
	At 31 December 2024		1,848,687		646,380		2,495,067

	Depreciation
	At 1 January 2024		1,344,745		414,776		1,759,521
	Charge for the year		148,760		57,640		206,400
	On disposals		(15,605)		-		(15,605)
	At 31 December 2024		1,477,900		472,416		1,950,316

	Net book value
	At 31 December 2024		370,787		173,964		544,751
	At 31 December 2023		519,547		90,830		610,377


6	Debtors				2024		2023
£						£

	Trade debtors				1,452,997		1,070,306
	Other debtors				167,567		309,516
					1,620,564		1,379,822


7	Creditors: amounts falling due within one year				2024		2023
£						£

	Trade creditors				123,884		61,569
	Amounts owed to group undertakings and undertakings in which the company has a participating interest				2,723,441		2,353,903
	Taxation and social security costs				763,203		473,879
	Other creditors				510,014		92,563
					4,120,542		2,981,914


8	Creditors: amounts falling due after one year				2024		2023
£						£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest				-		433,400


9	Other financial commitments				2024		2023
£						£

	Total future minimum payments under non-cancellable operating leases				743,014		1,043,014


10	Exceptional shortfall charges

	The company operates concession departments at a London department store under concessions agreements whereby a percentage is payable to the department store as charges on the sales achieved by the departments. The company is committed to annual minimum payments under one of the agreements and the shortfall represents charges payable to the department store not recovered through the sales made by the concession departments. As the company has made more than the minimum level of sales in the current year there was no shortfall.

11	Contingent liability

	As indicated in note 10 above the company is committed to an annual minimum payment under a concession agreement for a concession department operated by the company at a London department store. For the year to 31 January 2026 the company is committed to a minimum margin (which is normally paid through the turnover achieved by the company at the department store) equivalent to the greater of the previous year's minimum margin and 90% of the actual margins paid in the the previous year plus 5%. If the minimum level of sales is not achieved at the concessions department which will enable it to meet the minimum annual margins, the company may end up with a shortfall payable the amount of which will not be known until after 31 January 2026.


11	Going Concern

	As the company continues to increase turnover and profit the director believes that there is no material uncertainty and hence the accounts continue to be prepared on a going concern basis.


12	Controlling party

	The company's controlling party is Yves Salomon Fourreur SAS, a company registered in France.


13	Other information

	YVES SALOMON UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	5 Market Yard Mews
	194-204 Bermondsey Street
	London
	SE1 3TQ