Company No: 13803775 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	60,046		47,469
		60,046		47,469
Current assets
Stocks	4	818,857		593,028
Debtors	5	276,003		191,702
Cash at bank and in hand		17,970		162,278
		1,112,830		947,008
Creditors: amounts falling due within one year	6	( 743,518)		( 384,791)
Net current assets		369,312		562,217
Total assets less current liabilities		429,358		609,686
Provision for liabilities		39,735		0
Net assets		469,093		609,686
Capital and reserves
Called-up share capital	7	600,000		600,000
Profit and loss account		( 130,907 )		9,686
Total shareholders' funds		469,093		609,686

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of 8 Holland Street Ltd (registered number: 13803775) were approved and authorised for issue by the Director on 24 December 2025. They were signed on its behalf by:

T Vernon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

8 Holland Street Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Holland Street, London, W8 4LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	14		13

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	49,517		1,182		710		1,980		53,389
Additions	7,690		6,228		5,301		0		19,219
At 31 December 2024	57,207		7,410		6,011		1,980		72,608
Accumulated depreciation
At 01 January 2024	4,951		296		178		495		5,920
Charge for the financial year	5,657		481		133		371		6,642
At 31 December 2024	10,608		777		311		866		12,562
Net book value
At 31 December 2024	46,599		6,633		5,700		1,114		60,046
At 31 December 2023	44,566		886		532		1,485		47,469

4. Stocks

	2024		2023
	£		£
Stocks	763,897		533,028
Work in progress	54,960		60,000
	818,857		593,028

5. Debtors

	2024		2023
	£		£
Trade debtors	81,434		98,603
Other debtors	194,569		93,099
	276,003		191,702

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	341,113		0
Trade creditors	196,215		166,623
Amounts owed to Group undertakings	0		6,630
Taxation and social security	196,869		185,893
Other creditors	9,321		25,645
	743,518		384,791

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
600,000 Ordinary shares of £ 1.00 each	600,000		600,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	87,500		87,500
between one and five years	97,500		185,000
Total future minimum lease payments under non-cancellable operating leases	185,000		272,500

9. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Gallery Curated Ltd	55,719		(17,185)
Nine United Properties UK Ltd	44,418		32,664

During the year the company purchases stock of £63,000 (2023 £255,354) from Gallery Curated Ltd (a company under the same control of the Director). The purchase was at arms length and represents market value. At the end of the financial year the balance due from Gallery Curated Ltd was £55,719 (2023 Due to £17,185)

During the year the company paid rent of £20,375 (2023 £24,750), insurance £5,318 (2023 £3,088) and management charges of £5,350 (2023 £5,100) to Nine United Properties UK Ltd (a company that owns 51% of the share capital) All transactions were at arms length and represented current market value. At the end of the year the balance due from Nine United Properties UK Ltd was £44,418 (2023 £32,664)

Transactions with the entity's director

	2024		2023
	£		£
T Vernon (Director and shareholder)	42,191		27,310

The above loan is repayable on demand and interest is charged at a rate of 2.25%.

10. Ultimate controlling party

Parent Company:

Nine United Properties UK Ltd

16 Queen Annes Gate, London, SW1H 9AA