REGISTERED NUMBER: 05051188 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

RC Sloane Street Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Aqil Mohamed Jawad Habib Jaffe Ali

Mr Dipankar Bhupendrakumar Dutta

REGISTERED OFFICE:

149 New Bond Street

London

United Kingdom

W1S 2TT

REGISTERED NUMBER:

05051188 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Simon Edrich

INDEPENDENT AUDITORS:

PG & E Professional Services Ltd

Chartered Accountants & Statutory Auditor

47 Islington Park Street

London

N1 1QB

FIXED ASSETS

Tangible assets

4

1,916,891

2,273,114

CURRENT ASSETS

Stocks

1,445,871

1,024,557

Debtors

5

6,753,972

8,761,354

Prepayments and accrued income

436,513

434,934

Cash at bank

54,868

96,442

8,691,224

10,317,287

CREDITORS

Amounts falling due within one year

6

5,293,075

7,201,791

NET CURRENT ASSETS

3,398,149

3,115,496

TOTAL ASSETS LESS CURRENT LIABILITIES

5,315,040

5,388,610

ACCRUALS AND DEFERRED INCOME

69,769

399,210

NET ASSETS

5,245,271

4,989,400

CAPITAL AND RESERVES

Called up share capital

1,622,189

1,622,189

Share premium

3,627,811

3,627,811

Other reserves

6,500,000

6,500,000

Retained earnings

(6,504,729

)

(6,760,600

)

5,245,271

4,989,400

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 24 December 2025 and were signed on its behalf by:

Mr Dipankar Bhupendrakumar Dutta - Director

1.	STATUTORY INFORMATION

RC Sloane Street 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Other operating income

Other operating income comprises marketing contributions and reimbursements for impaired inventory charged to other group companies.

Tangible fixed assets

Depreciation is provided in order to write off each asset over its estimated useful life.

Long leasehold - over the length of the lease - 5 years

Fixtures and fittings - 12-25% at cost

Computer equipment - 20-25% at cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

As a result of the magnitude of the losses made in previous years, the director believes that it is not prudent to account for deferred tax assets nor necessary to account for deferred tax liabilities within these financial statements.

Foreign currencies

Assets and liabilities denominated in foreign currencies are translated into sterling at the exchange rates prevailing at the balance sheet date. Transactions in foreign currencies are translated into sterling at the exchange rates prevailing on the date of the transaction. Exchange differences arising on translation and settlement are recognised within interest payable / receivable and similar expenses / income within the income statement before arriving at the profit / (loss) before taxation.

Going concern

The financial statements have been prepared on a going concern basis. The company relies upon the continued support from its ultimate parent company, Damac Capital Limited, who have confirmed provision of such support. The directors are confident that the company will be provided with the necessary financial support so that the company will continue in operational existence realising its assets and meetings its liabilities as they fall due for a period of at least 12 months from the date of the approval of these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Marketing contribution

The marketing contribution is considered to be the value of marketing that the company provides to the Roberto Cavalli group by being based in London. It is calculated as operating costs after deducting a benchmarked percentage of revenue. The marketing contribution recognised in Other operating income within the income statement is £2,108,194 (2023: £3,270,654).

Stock provision and valuation

Stocks are valued at the lower of cost and net realisable value, after making appropriate allowances for obsolete and slow-moving items. A provision for obsolete and slow-moving stock has been recognised, and stock and cost of sales have been stated after applying a provision of £903,238 (2023: £1,757,374).

Restatement of Comparative Information

The comparative figures in the income statement have been reclassified such that £121,694, representing written-down stock returned to the parent company at cost, previously included within cost of sales, has been reclassified to other operating income. This reclassification has no impact on profitability or net assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

2,327,414

117,782

10,698

2,455,894

Additions

121,498

69,631

21,229

212,358

Reclassification/transfer

(27,816

)

(10,927

)

-

(38,743

)

At 31 December 2024

2,421,096

176,486

31,927

2,629,509

DEPRECIATION

At 1 January 2024

125,188

56,285

1,307

182,780

Charge for year

508,497

13,574

7,767

529,838

At 31 December 2024

633,685

69,859

9,074

712,618

NET BOOK VALUE

At 31 December 2024

1,787,411

106,627

22,853

1,916,891

At 31 December 2023

2,202,226

61,497

9,391

2,273,114

Fixed assets as at 31 December 2023 have been reclassified to better reflect the nature of the assets; this reclassification had no impact on the income statement or net assets.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

12,365

101,951

Amounts owed by group undertakings

2,807,737

3,207,112

Other debtors

3,933,870

5,452,291

6,753,972

8,761,354

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

125,238

219,364

Amounts owed to group undertakings

5,155,907

6,956,412

Taxation and social security

8,775

19,005

Other creditors

3,155

7,010

5,293,075

7,201,791

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

The Report of the Auditors was unqualified.

Mr Simon Edrich (Senior Statutory Auditor)

for and on behalf of PG & E Professional Services Ltd

8.	OTHER FINANCIAL COMMITMENTS

The total financial commitments related to the lease agreement is £5,266,667 (2023: £6,566,667)

9.	AUDITOR LIABILITY LIMITATION

The company has limited the maximum aggregate amount of the Auditor's Liability to the company to not more than (1) the sum of 5 times the fees payable (excluding expenses and Value Added Tax) under the Engagement Letter referable to the financial year in question, or (2) £30,000 whichever is the lesser amount.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Damac Capital Limited.

The immediate parent company and smallest group for which consolidated financial statements are drawn up is Roberto Cavalli SPA, whose registered office is at Via Giuseppe Mengoni 4, Milano, 20122, Italy. The consolidated financial statements are available from its registered office at Via Giuseppe Mengoni 4, Milano, 20122, Italy.