REGISTERED NUMBER: 08781752 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Moleskine UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Treglia

C A A Archaimbault

REGISTERED OFFICE:

727-729 High Road,

London

N12 0BP

REGISTERED NUMBER:

08781752 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Marcus FCA FCCA

AUDITORS:

TC Group

Statutory Auditor

First Floor

Spitalfields House

Stirling Way

Borehamwood

Hertfordshire

WD6 2FX

FIXED ASSETS

Intangible assets

4

-

315

Tangible assets

5

465,633

31,021

465,633

31,336

CURRENT ASSETS

Stocks

585,024

330,102

Debtors

6

592,278

705,705

1,177,302

1,035,807

CREDITORS

Amounts falling due within one year

7

(6,859,629

)

(5,110,716

)

NET CURRENT LIABILITIES

(5,682,327

)

(4,074,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,216,694

)

(4,043,573

)

CAPITAL AND RESERVES

Called up share capital

9

550,000

550,000

Retained earnings

(5,766,694

)

(4,593,573

)

SHAREHOLDERS' FUNDS

(5,216,694

)

(4,043,573

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M Treglia - Director

1.	STATUTORY INFORMATION

Moleskine UK 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on the amounts recognised in the financial statements:

Stock: Stock is included as per the accounting policy set out below. Management have assessed the need to write off or provide against any specific items based on the levels held at year end, and the expected sales of such items in the immediate period post year end.

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.

Development costs are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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 statement of financial position 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or

are settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of

the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third

party.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and

preference shares that are classified as debt, 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 payments 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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 year 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.

Going concern

The financial statement show net liabilities of £5,216,694 at 31 December 2024. The company has the support of its parent undertaking. Consequently the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future and consider that the going concern basis of accounting is appropriate in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

and 31 December 2024

56,145

AMORTISATION

At 1 January 2024

55,830

Amortisation for year

315

At 31 December 2024

56,145

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

315

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

491,676

459,873

119,261

1,070,810

Additions

150,966

320,332

26,891

498,189

At 31 December 2024

642,642

780,205

146,152

1,568,999

DEPRECIATION

At 1 January 2024

488,854

440,288

110,647

1,039,789

Charge for year

19,873

38,148

5,556

63,577

At 31 December 2024

508,727

478,436

116,203

1,103,366

NET BOOK VALUE

At 31 December 2024

133,915

301,769

29,949

465,633

At 31 December 2023

2,822

19,585

8,614

31,021

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

428,403

653,857

Other debtors

163,875

51,848

592,278

705,705

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

315,155

111,857

Amounts owed to group undertakings

6,485,670

4,664,444

Taxation and social security

-

60,237

Other creditors

58,804

274,178

6,859,629

5,110,716

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

509,250

351,000

Between one and five years

1,154,774

410,274

In more than five years

430,735

-

2,094,759

761,274

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

550,000

Ordinary shares

£1

550,000

550,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Marcus FCA FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is D'leteren SA, a company incorporated in Belgium.

13.	LONG TERM INVESTMENT PLAN (LTIP)

The Group has a LTIP to incentivise staff and encourage the development of the Company by them. Certain members of the Company are enrolled in the LTIP and the amount of £nil (2022: £28,904) charged to the Income Statement represents the fair value of the options accruing to members of the Company enrolled in the Scheme as an apportionment of the Group charge.