Company registration number 08224640 (England and Wales)
NICOLE FARHI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
NICOLE FARHI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NICOLE FARHI LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£'000
£'000
£
£
Current assets
Debtors
3
124
55
Cash at bank and in hand
210
281
334
336
Creditors: amounts falling due within one year
4
(524)
(434)
Net current liabilities
(190)
(98)
Creditors: amounts falling due after more than one year
5
(26,978)
(26,978)
Net liabilities
(27,168)
(27,076)
Capital and reserves
Called up share capital
6
-
0
-
0
Profit and loss reserves
(27,168)
(27,076)
Total equity
(27,168)
(27,076)

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
D A Dooley
Director
Company registration number 08224640 (England and Wales)
NICOLE FARHI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Nicole Farhi Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 7a, No 1 The Courtyard Earl Road, Cheadle Hulme, Cheadle, Cheshire, SK8 6GN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Wholesale and online turnover is recogni s ed upon delivery of goods to the customer and retail turnover is recognised at the point of sale.

Licensing income is recogni s ed on the accruals basis in accordance with the substance of the relevant agreements. Licensing income is presented in in the profit and loss account as other income net off expenses directly related to incurring such income.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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.

NICOLE FARHI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
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

Basic financial liabilities, including creditors, bank loans, loans from related companies 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 paymen ts 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. A m ounts 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.

1.6
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
Employees

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

2025
2024
Number
Number
Total
2
2
3
Debtors
2025
2024
Amounts falling due within one year:
£'000
£'000
Other debtors
124
55
NICOLE FARHI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
4
Creditors: amounts falling due within one year
2025
2024
£'000
£'000
Trade creditors
6
17
Other creditors
518
417
524
434
5
Creditors: amounts falling due after more than one year
2025
2024
£'000
£'000
Other creditors
26,978
26,978
6
Called up share capital
2025
2024
£
£
Issued and fully paid
1 Ordinary share of £1
1
1
1
1
7
Related party transactions

At the balance sheet date, an amount of £8,487,500 (2024: £8,487,500) was due to director shareholder Maxine Adams. This amount is interest free, due on demand with 12 months’ notice. The balance is included in creditors: amounts falling due after one year.

At the balance sheet date, amounts of £17,490,000 (2024: £17,490,000) and £1,000,000 (2024: £1,000,000) were due to John Hargreaves, a family member of Maxine Adams. £17,490,000 is interest free, due for repayment on demand with 12 months notice, £1,000,000 accrues interest at 5% above base rate per annum. The balance is included in creditors: amounts falling due after one year.

At the balance sheet date, an amount of £110,000 (2024: £nil) was due from Comfort Shoes Limited. Both companies are controlled by members of the same immediate family. The balance is included in debtors: amounts falling due within one year.

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