REGISTERED NUMBER: 03853241 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

FARLOWS GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Philpott

S P G Hughes

REGISTERED OFFICE:

9 Pall Mall

London

SW1Y 5NP

REGISTERED NUMBER:

03853241 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Cox

AUDITORS:

Cox Costello & Horne

Chartered Accountants and Statutory Auditors

Batchworth Lock House

99 Church Street, Rickmansworth

WD3 1JJ

FIXED ASSETS

Investments

4

4,042,903

4,042,903

CURRENT ASSETS

Debtors

5

2,029,320

1,987,678

CREDITORS

Amounts falling due within one year

6

1,428,408

1,428,408

NET CURRENT ASSETS

600,912

559,270

TOTAL ASSETS LESS CURRENT LIABILITIES

4,643,815

4,602,173

CREDITORS

Amounts falling due after more than one year

7

601,662

560,020

NET ASSETS

4,042,153

4,042,153

CAPITAL AND RESERVES

Called up share capital

5,102,572

5,102,572

Share premium

519,881

519,881

Capital redemption reserve

4,702,169

4,702,169

Retained earnings

(6,282,469

)

(6,282,469

)

SHAREHOLDERS' FUNDS

4,042,153

4,042,153

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 17 October 2025 and were signed on its behalf by:

R Philpott - Director

1.	STATUTORY INFORMATION

Farlows Group 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.

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.

Going Concern

The financial statements are drawn up on the going concern basis which assumes Farlows Group Limited will continue in operational existence for the foreseeable future. The Board of Directors have given due consideration to the working capital and cash flow requirements of Farlows Group Limited. The Board of Directors consider Farlows Group Limited's current and forecast cash resources to be sufficient to cover the working capital requirements of the company and its subsidiaries for at least 12 months from the date of signing the financial statements.The directors have been given reassurances of ongoing support from the shareholders of the parent company.

Preparation of consolidated financial statements

The financial statements contain information about Farlows Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

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.

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.

Investments in subsidiaries

Investment in a subsidiary company is held at cost less accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

5,304,160

PROVISIONS

At 1 February 2024

and 31 January 2025

1,261,257

NET BOOK VALUE

At 31 January 2025

4,042,903

At 31 January 2024

4,042,903

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Farlows Limited

Registered office: 9 Pall Mall, London, SW1Y 5NP

Nature of business: Retail of country clothing and fishing

%

Class of shares:

holding

Ordinary

100.00

31.1.25

31.1.24

£

£

Aggregate capital and reserves

(396,141

)

(443,663

)

Profit for the year

47,522

217,288

Sportfish Limited

Registered office: 9 Pall Mall, London SW1Y 5NP

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.1.25

31.1.24

£

£

Aggregate capital and reserves

1

1

5.

DEBTORS

31.1.25

31.1.24

£

£

Amounts falling due within one year:

Amount owed by group undertaking

1,427,658

1,427,658

Amounts falling due after more than one year:

Amount owed by group undertaking

601,662

560,020

Aggregate amounts

2,029,320

1,987,678

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Amount owed to group undertaking

1,428,408

1,428,408

Amounts owed to group undertakings relate to demand loan facilities provided by the immediate holding company, Farlows International Limited. These loans are provided on an interest-free basis, with no set repayment date and are repayable upon the issuance of notice by the provider.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Amount owed to group undertaking

601,662

560,020

Amounts owed to group undertakings relate to a separate term loan facility provided by the immediate holding company, Farlows International Limited. The loan was provided with an interest rate of 7.00% per annum and due to be repaid prior to 31 May 2027.

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

The Report of the Auditors was unqualified.

Michael Cox (Senior Statutory Auditor)

for and on behalf of Cox Costello & Horne

9.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Mr S P G Hughes who owns 95% of the issued shares of Farlows International Limited.