REGISTERED NUMBER: 07567616 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

47 BRAND EUROPE LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

A Jones

P Gils

C Koch

K Wilson

Secretary:

A Jones

Registered office:

1st Floor East

Cbx 2

Midsummer Boulevard

Milton Keynes

United Kingdom

MK9 2EA

Registered number:

07567616 (England and Wales)

Auditors:

Corrigan Accountants Limited

First Floor

25 King Street

Bristol

BS1 4PB

FIXED ASSETS

Tangible assets

4

36,612

11,596

CURRENT ASSETS

Stocks

5

548,890

448,682

Debtors

6

3,672,985

4,293,873

Cash at bank

1,205,755

3,759,685

5,427,630

8,502,240

CREDITORS

Amounts falling due within one year

7

(3,155,977

)

(4,238,089

)

NET CURRENT ASSETS

2,271,653

4,264,151

TOTAL ASSETS LESS CURRENT LIABILITIES

2,308,265

4,275,747

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9

2,308,264

4,275,746

SHAREHOLDERS' FUNDS

2,308,265

4,275,747

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 Statement of profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

A Jones - Director

1.	STATUTORY INFORMATION

47 Brand Europe 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 Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Basis of preparing the financial statements and statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 subsidiarieswithin the group.

Revenue recognition

Revenue consists of the sale of apparel and accessories.

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the Company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the Company's activities.

Tangible fixed assets

Tangible fixed assets held for the Company's own use, are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated over the useful economic life of that asset as follows:

Plant and machinery - 25% reducing balance.

Tax

The tax expense represents the sum of the current tax expense and deferred tax expense. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

Foreign currencies

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due.

Employee Benefits

The costs of short-term employee benefits are recognised as an expense as the services are received. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

Stocks

Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of goods for resale comprises direct cost and, where applicable, those overheads that have been incurred in bringing the inventories to their present location and condition. At each report date, stocks are assessed for impairment.

If stocks are impaired, the carrying amount is reduced to its selling price less cost to complete and sell; the impairment loss is recognised immediately in profit and loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2024

33,316

Additions

30,585

At 31 December 2024

63,901

Depreciation

At 1 January 2024

21,720

Charge for year

5,569

At 31 December 2024

27,289

Net book value

At 31 December 2024

36,612

At 31 December 2023

11,596

5.

STOCKS

31/12/24

31/12/23

£

£

Stocks

548,890

448,682

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

2,646,143

1,043,801

Amounts owed by group undertakings

469,277

3,186,852

Other debtors

3,125

6,175

Tax

-

23,476

Deferred tax asset

513,397

14,345

Prepayments

41,043

19,224

3,672,985

4,293,873

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

300,520

118,219

Amounts owed to group undertakings

781,979

3,481,590

Tax

667,484

-

Social security and other taxes

7,431

4,170

Other creditors

795,035

464,834

Accrued expenses

603,528

169,276

3,155,977

4,238,089

Amounts owed to group undertakings are interest free, unsecured and repayable on demand.

8.	LEASING AGREEMENTS

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

31/12/24

31/12/23

£

£

Within one year

9,258

20,000

Between one and five years

9,968

16,000

19,226

36,000

9.

RESERVES

Retained

earnings

£

At 1 January 2024

4,275,746

Profit for the year

236,268

Dividends

(2,203,750

)

At 31 December 2024

2,308,264

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

As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

- The audit report was unqualified.

- The senior statutory auditor was David Wright BSc FCA.

- The auditor was Corrigan Accountants Limited.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent of the company is '47 Brand, LLC a company incorporated in the State of Delaware, in the United States of America.

Effective from 8 August 2024, the ultimate parent company changed from 47 Brand, LLC to New Era Cap Global, LLC. New Era Cap Global, LLC is a company incorporated in the State of Delaware in the United States of America, with its registered office situated at 160 Delaware Avenue, Buffalo, New York 14202, United States of America.