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Company No: 12627195 (England and Wales)

# WARBY LTD

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

WARBY LTD

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

WARBY LTD

## COMPANY INFORMATION

For the financial year ended 31 May 2025
WARBY LTD

## COMPANY INFORMATION (continued)

For the financial year ended 31 May 2025

Directors | Adam Warby
| Jane Warby

Registered office | 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA
| United Kingdom

Company number | 12627195 (England and Wales)

Accountant | Kreston Reeves LLP
| 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA

WARBY LTD

## BALANCE SHEET

As at 31 May 2025
WARBY LTD

## BALANCE SHEET (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 103,846 |  | 52,429
Investments | 4 | 382,756 |  | 346,943
|  | 486,602 |  | 399,372
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 5 | 0 |  | ( 39,052)
- due after more than one year | 5 | 0 |  | 45,292
Cash at bank and in hand |  | 922,819 |  | 481,501
|  | 922,819 |  | 487,741
Creditors: amounts falling due within one year | 6 | ( 198,557) |  | ( 69,517)
Net current assets |  | 724,262 |  | 418,224
Total assets less current liabilities |  | 1,210,864 |  | 817,596
Net assets |  | 1,210,864 |  | 817,596
Capital and reserves |  |  |  |
Called-up share capital | 7 | 5,000 |  | 5,000
Profit and loss account |  | 1,205,864 |  | 812,596
Total shareholders' funds |  | 1,210,864 |  | 817,596

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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; 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 Profit and Loss Account has not been delivered.

The financial statements of Warby Ltd (registered number: 12627195) were approved and authorised for issue by the Board of Directors on 19 February 2026. They were signed on its behalf by:

Adam Warby Director |

WARBY LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
WARBY LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 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

Warby 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 2nd Floor,168 Shoreditch High Street, London, E1 6RA, 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.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### 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.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.

##### 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 or reducing balance basis over its expected useful life, as follows:

Vehicles | 5 years straight line
Office equipment | 4 years straight line
Computer equipment | 4 years straight line

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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

##### Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each balance sheet date.
Gains and losses on remeasurement are recognised in profit or loss for the period.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Vehicles |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 103,770 |  | 3,400 |  | 3,641 |  | 110,811
Additions | 103,046 |  | 0 |  | 0 |  | 103,046
Disposals | ( 103,770) |  | 0 |  | 0 |  | ( 103,770)
At 31 May 2025 | 103,046 |  | 3,400 |  | 3,641 |  | 110,087
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 53,615 |  | 2,692 |  | 2,075 |  | 58,382
Charge for the financial year | 0 |  | 708 |  | 766 |  | 1,474
Disposals | ( 53,615) |  | 0 |  | 0 |  | ( 53,615)
At 31 May 2025 | 0 |  | 3,400 |  | 2,841 |  | 6,241
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 103,046 |  | 0 |  | 800 |  | 103,846
At 31 May 2024 | 50,155 |  | 708 |  | 1,566 |  | 52,429

#### 4. Fixed asset investments

| Listed investments |  | Other investments |  | Total
| £ |  | £ |  | £
Cost or valuation before impairment |  |  |  |  |
At 01 June 2024 | 264,885 |  | 82,058 |  | 346,943
Additions | 0 |  | 100,000 |  | 100,000
Movement in fair value | ( 143,882) |  | 79,695 |  | ( 64,187)
At 31 May 2025 | 121,003 |  | 261,753 |  | 382,756
Carrying value at 31 May 2025 | 121,003 |  | 261,753 |  | 382,756
Carrying value at 31 May 2024 | 264,885 |  | 82,058 |  | 346,943

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 0 |  | ( 39,052)
Debtors: amounts falling due after more than one year |  |  |
Accrued income | 0 |  | 45,292

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank overdrafts | 0 |  | 85
Trade creditors | 62,046 |  | 12
Amounts owed to directors | 17,225 |  | 14,299
Accruals | 2,770 |  | 2,550
Taxation and social security | 116,516 |  | 52,571
| 198,557 |  | 69,517

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
5,000 Ordinary shares of £ 1.00 each | 5,000 |  | 5,000

#### 8. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Directors loan account | 17,225 |  | 14,299