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Company registration number: 07238253
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2023
| OLUKAI LIMITED
OLUKAI LIMITED |  |
COMPANY INFORMATION
Directors | G Ward
| J Harris
| C P Del Santo
Registered number | 07238253
Registered office | Magna House
| 18-32 London Road
| Staines-Upon-Thames
| TW18 4BP
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| Magna House
| 18-32 London Road
| Staines-Upon-Thames
| TW18 4BP
OLUKAI LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 4
OLUKAI LIMITED REGISTERED NUMBER:07238253 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023
|  | 2023 |  | Unaudited 2022
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks |  | 184,559 |  | - |
Debtors: amounts falling due within one year | 4 | 7,237 |  | - |
Cash at bank and in hand |  | 114,540 |  | 161 |
|  | 306,336 |  | 161 |
Creditors: amounts falling due within one year | 5 | (558,473) |  | - |
Net current (liabilities)/assets |  |  | (252,137) |  | 161
Total assets less current liabilities |  |  | (252,137) |  | 161
Creditors: amounts falling due after more than one year | 6 |  | - |  | (28,605)
Net liabilities |  |  | (252,137) |  | (28,444)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10 |  | 10
Profit and loss account |  |  | (252,147) |  | (28,454)
|  |  | (252,137) |  | (28,444)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
G Ward
Director
Date: 17 October 2025
The notes on pages 2 to 4 form part of these financial statements. Page 1
OLUKAI LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. | General information
Olukai Limited is a private company, limited by shares, incorporated in England. The address of its registered office is disclosed on the company information page. The company recommenced trading during the financial year. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors have assessed the financial performance and likely future cash flow requirements of the Company at the date of approving these financial statements. Whilst the company is establishing itself in the UK market it is reliant on financial support from its parent company to meet its day-to-day working capital requirements. The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the reason that the Company has obtained the financial support letter from the parent company, for 12 months from the date of the financial statements approval. This letter confirms that the parent company will provide where needed the necessary financial support so that the Company can meet its commitments and continue its business under normal conditions. This letter also confirms that, as the major creditor of the UK company, it will not demand repayment of the amounts outstanding until such a time that the company is able to make repayments without having a detrimental impact on the company. The directors are satisfied that the parent company has the financial ability to provide such support as needed. Thus, the directors do not consider there to be any material uncertainty relating to the Company’s ability to continue as a going concern and have prepared the financial statements on a going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Page 2
OLUKAI LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2.Accounting policies (continued)
| 2.4 | Revenue
The turnover shown in the Income Statement represents amounts receivable for products provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes. Turnover is generated from the sale of footwear products and is recognised once the goods have been delivered to the customer.
| 2.5 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.6 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors, trade and other creditors and amounts owed to/from group undertakings.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2022 - 3).
4. | Debtors
|  |  |  |  | 2023 | Unaudited 2022
|  |  |  |  | £ | £
| Trade debtors | 2,358 | -
| Prepayments and accrued income | 4,879 | -
|  | 7,237 | -
Page 3
OLUKAI LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2023 | Unaudited 2022
|  |  |  |  | £ | £
| Trade creditors | 165 | -
| Amounts owed to group undertakings | 504,530 | -
| VAT creditor | 14,986 | -
| Accruals and deferred income | 38,792 | -
|  | 558,473 | -
6. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2023 | Unaudited 2022
|  |  |  |  | £ | £
| Amounts owed to group undertakings | - | 28,605
|  | - | 28,605
7. | Commitments under operating leases
| The Company had no commitments under non-cancellable operating leases at the reporting date.
8. | Parent company
Archipelago Companies LLC, a company incorporated in the USA, is the parent company of the smallest group for which consolidated financial statements are drawn up of which the company is a member. The parent company's registered office is 10 Faraday Irvine, CA 92618, USA.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified. The audit report was signed on 17 October 2025 by Hezelina Hashim FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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