IRIS Accounts Production v26.1.10.61 01368178 director 1.9.24 31.8.25 31.8.25 Medium entities ++ true false true true false false true true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary shares 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 01368178 2024-08-31 01368178 2025-08-31 01368178 2024-09-01 2025-08-31 01368178 2023-08-31 01368178 2023-09-01 2024-08-31 01368178 2024-08-31 01368178 ns15:EnglandWales 2024-09-01 2025-08-31 01368178 ns14:PoundSterling 2024-09-01 2025-08-31 01368178 ns10:Director1 2024-09-01 2025-08-31 01368178 ns10:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 01368178 ns10:MediumEntities 2024-09-01 2025-08-31 01368178 ns10:Audited 2024-09-01 2025-08-31 01368178 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-09-01 2025-08-31 01368178 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-09-01 2025-08-31 01368178 ns10:FullAccounts 2024-09-01 2025-08-31 01368178 ns10:OrdinaryShareClass1 2024-09-01 2025-08-31 01368178 ns10:CompanySecretary1 2024-09-01 2025-08-31 01368178 ns10:RegisteredOffice 2024-09-01 2025-08-31 01368178 ns5:CurrentFinancialInstruments 2025-08-31 01368178 ns5:CurrentFinancialInstruments 2024-08-31 01368178 ns5:ShareCapital 2025-08-31 01368178 ns5:ShareCapital 2024-08-31 01368178 ns5:RetainedEarningsAccumulatedLosses 2025-08-31 01368178 ns5:RetainedEarningsAccumulatedLosses 2024-08-31 01368178 ns5:ShareCapital 2023-08-31 01368178 ns5:RetainedEarningsAccumulatedLosses 2023-08-31 01368178 ns5:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 01368178 ns5:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 01368178 1 2024-09-01 2025-08-31 01368178 ns15:UnitedKingdom 2024-09-01 2025-08-31 01368178 ns15:UnitedKingdom 2023-09-01 2024-08-31 01368178 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-09-01 2025-08-31 01368178 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-09-01 2024-08-31 01368178 ns10:HighestPaidDirector 2024-09-01 2025-08-31 01368178 ns10:HighestPaidDirector 2023-09-01 2024-08-31 01368178 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-09-01 2025-08-31 01368178 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-09-01 2024-08-31 01368178 ns5:OwnedAssets 2024-09-01 2025-08-31 01368178 ns5:OwnedAssets 2023-09-01 2024-08-31 01368178 11 2024-09-01 2025-08-31 01368178 11 2023-09-01 2024-08-31 01368178 ns5:FurnitureFittings 2024-08-31 01368178 ns5:MotorVehicles 2024-08-31 01368178 ns5:FurnitureFittings 2024-09-01 2025-08-31 01368178 ns5:MotorVehicles 2024-09-01 2025-08-31 01368178 ns5:FurnitureFittings 2025-08-31 01368178 ns5:MotorVehicles 2025-08-31 01368178 ns5:FurnitureFittings 2024-08-31 01368178 ns5:MotorVehicles 2024-08-31 01368178 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-08-31 01368178 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-08-31 01368178 ns5:WithinOneYear 2025-08-31 01368178 ns5:WithinOneYear 2024-08-31 01368178 ns5:BetweenOneFiveYears 2025-08-31 01368178 ns5:BetweenOneFiveYears 2024-08-31 01368178 ns5:AllPeriods 2025-08-31 01368178 ns5:AllPeriods 2024-08-31 01368178 ns10:OrdinaryShareClass1 2025-08-31

REGISTERED NUMBER: 01368178 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

BALLY SUNGLASS & OPTICAL COMPANY LIMITED

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Notes to the Financial Statements | 12 |

| BALLY SUNGLASS & OPTICAL COMPANY LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTOR: | S Jablon

| SECRETARY: | Ms L Jablon

| REGISTERED OFFICE: | 1 Rosoman Place

| London

| EC1R 0JY

| REGISTERED NUMBER: | 01368178 (England and Wales)

| AUDITORS: | Numera Partners LLP

| Statutory Auditors

| 4th Floor

| Charles House

| 108-110 Finchley Road

| London

| NW3 5JJ

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The director presents his strategic report for the year ended 31 August 2025.

REVIEW OF BUSINESS

The principal activity of the company is the wholesale supply of fashion and optical frames and goods in global markets.

The company previously reacted to past events by reducing costs and restructuring where possible and controlling the costs with the growth post these events.

The company showed positive improvements with the optical and luxury markets.

The results in 2026 are expected to show stable results in irrespective of unstable global market climate.

The company's key performance indicators are:

Sales: £11,841,947 (2024: £12,142,645)

Gross profit: £5,715,057 (2024: £5,901,783)

Net profit before tax: £885,682 (2024: £1,058,905)

EBITDA: £944,567 (2024: £1,107,686)

Other key performance indicators are customer satisfaction and human resource development. These are considered excellent.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks associated with this industry relate to the market cycle as driven by the general economic performance of the UK and overseas. This manifests itself in dramatic changes in the seasonal cycle which are regularly reviewed by the senior management team to limit the consequent impact on resource productivity and company profitability. Improved buying and season planning policies are expected to vastly improve future performance.

Although the company and industry have adjusted accordingly in relation to recent global factors, uncertainties relating to conflict and political/economic situations in certain territories may remain a potential risk for the period.

FINANCIAL RISK

The company's operations expose it to several financial risks including changes in price risks, credit risks, liquidity risks and interest rate risks. The company has a risk management policy that seeks to limit financial risk by monitoring debt and credit risks. The company does not use any derivative financial instruments to manage interest rate costs and as such no hedge accounting is applied.

Given the size of the business, the director has not delegated the responsibility of monitoring financial risk management to a sub-committee of the board and thereby the board implements the company's finance policy.

PRICE RISK

The company is exposed to price risk due to normal inflationary increases in prices of goods and services.

CREDIT RISK

The company implements policies that require appropriate credit checks on potential customers before credit is afforded to those customers. The amount of exposure is subject to specific limits set by these metrics and the board.

LIQUIDITY RISK

The company operates within the confines of its banking facilities, with the company's shareholders providing long-term finance to ensure flexibility and the availability of sufficient funds for operations and expansion.

INTEREST RATE RISK

The company has limited interest bearing liabilities. The director regularly reviews the interest rate policies in light of changes or expected changes in the company's operations.

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

BUSINESS RISK

Business risks, which the company faces, mainly coming from its competitors and general economic conditions including conflict in territories and global economic issues.

ON BEHALF OF THE BOARD:

S Jablon - Director

21 May 2026

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 AUGUST 2025

The director presents his report with the financial statements of the company for the year ended 31 August 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 August 2025.

DIRECTOR

S Jablon held office during the whole of the period from 1 September 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The Strategic Report includes details of the financial risk management policies and whether financial instruments are used to manage those risks.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Numera Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Jablon - Director

21 May 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BALLY SUNGLASS & OPTICAL COMPANY LIMITED

Opinion

We have audited the financial statements of Bally Sunglass & Optical Company Limited (the 'company') for the year ended 31 August 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BALLY SUNGLASS & OPTICAL COMPANY LIMITED

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

- We enquired of management the systems and controls the company has in place, the areas of the financial statement that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory framework applicable to the company. We determined that the following were most relevant: FRS 102 and Companies Act 2006 and employment law.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting systems.

- Assessing the extent of compliance, or lack of, with relevant laws and regulations.

- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Obtaining third-party confirmation of material bank and loan balances.

- Documenting and verifying all significant related party balances and transactions.

- Reviewing documentation such as the company board minutes, correspondence with the solicitors, for discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the Financial Statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

BALLY SUNGLASS & OPTICAL COMPANY LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Giles Cohen (Senior Statutory Auditor)

for and on behalf of Numera Partners LLP

Statutory Auditors

4th Floor

Charles House

108-110 Finchley Road

London

NW3 5JJ

21 May 2026

Note:

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

INCOME STATEMENT

FOR THE YEAR ENDED 31 AUGUST 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

TURNOVER | 3 | 11,841,947 |  | 12,142,645 |  |

Cost of sales | 6,126,890 |  | 6,240,862 |  |

GROSS PROFIT | 5,715,057 |  | 5,901,783 |  |

Administrative expenses | 5,465,310 |  | 5,397,197 |  |

249,747 |  | 504,586 |  |

Other operating income | 639,655 |  | 554,641 |  |

OPERATING PROFIT | 5 | 889,402 |  | 1,059,227 |  |

Interest payable and similar expenses | 7 | 3,720 |  | 322 |  |

PROFIT BEFORE TAXATION | 885,682 |  | 1,058,905 |  |

Tax on profit | 8 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | 885,682 |  | 1,058,905 |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 AUGUST 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 885,682 |  | 1,058,905 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 885,682 |  | 1,058,905 |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

BALANCE SHEET

31 AUGUST 2025

| 31.8.25 | 31.8.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 72,698 |  | 96,526 |  |

CURRENT ASSETS

Stocks | 10 | 2,277,606 |  | 2,211,235 |  |

Debtors | 11 | 1,386,807 |  | 1,554,012 |  |

Cash at bank and in hand | 3,002,442 |  | 2,749,375 |  |

6,666,855 |  | 6,514,622 |  |

CREDITORS

Amounts falling due within one year | 12 | 4,270,928 |  | 5,028,205 |  |

NET CURRENT ASSETS | 2,395,927 |  | 1,486,417 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,468,625 |  | 1,582,943 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Retained earnings | 2,468,525 |  | 1,582,843 |  |

SHAREHOLDERS' FUNDS | 2,468,625 |  | 1,582,943 |  |

The financial statements were approved by the director and authorised for issue on 21 May 2026 and were signed by:

S Jablon - Director

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 AUGUST 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 September 2023 | 100 |  | 523,938 |  | 524,038 |  |

Changes in equity

Profit for the year | - |  | 1,058,905 |  | 1,058,905 |  |

Total comprehensive income | - |  | 1,058,905 |  | 1,058,905 |  |

Balance at 31 August 2024 | 100 |  | 1,582,843 |  | 1,582,943 |  |

Changes in equity

Profit for the year | - |  | 885,682 |  | 885,682 |  |

Total comprehensive income | - |  | 885,682 |  | 885,682 |  |

Balance at 31 August 2025 | 100 |  | 2,468,525 |  | 2,468,625 |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| Bally Sunglass & Optical Company 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 presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest Pound.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirement of paragraph 33.7.

| This information is included in the consolidated financial statements of SPL J Holdings Limited as at 31 August 2024 and these financial statements may be obtained from the Registrar of Companies, Companies House, Cardiff, CF14 3UZ.

| Critical accounting judgements and key sources of estimation uncertainty

| The director considers that the critical accounting policies where judgements and estimations have been applied relate to tangible asset lives, stock and amounts due from group entities and trade debtors. In respect of the life of tangible fixed assets, judgements are made on the useful economic life and residual values. The director has concluded that the asset values and residual values are appropriate.

| Stock provision has been calculated on the basis of the age of the stock and likelihood of sale and at what price after the period end. The director is satisfied that stock is valued on an appropriate basis.

| The remaining balance of amounts due from group companies and trade debtors are considered recoverable. This is based on profit projections and expectations of growth of those companies.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sales of good is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods.

| Tangible fixed assets

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight-line method

| Fixtures and fittings - 25% straight line

| The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Comprehensive Income.

| Stocks

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

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss account.

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| 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

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

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

| Hire purchase and leasing commitments

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| 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 contractual provisions of the instruments.

| 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.

| Basic financial assets

| Basic financial instruments, 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.

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that 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 payments 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 method.

| Trade creditors are obligations to pay for goods and 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| 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.

| Going concern

| The director has considered the company's performance as well as forecasts and projections for the next 12 months from the date of this report and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to prepare its financial statements on a going concern basis.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 31.8.25 |  | 31.8.24

£ | £ |

| United Kingdom | 1,176,015 |  | 1,153,863 |  |

| Rest of the world | 10,665,932 |  | 10,988,782 |  |

11,841,947 |  | 12,142,645 |  |

4. | EMPLOYEES AND DIRECTORS

| 31.8.25 |  | 31.8.24

£ | £ |

| Wages and salaries | 2,940,425 |  | 2,993,679 |  |

| Social security costs | 356,651 |  | 326,313 |  |

| Other pension costs | 46,293 |  | 46,382 |  |

3,343,369 |  | 3,366,374 |  |

| The average number of employees during the year was as follows:

| 31.8.25 |  | 31.8.24

| Management, marketing and administration | 52 |  | 59 |  |

| 31.8.25 |  | 31.8.24

£ | £ |

| Director's remuneration | 259,650 |  | 334,139 |  |

| Director's pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

4. | EMPLOYEES AND DIRECTORS - continued

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 1 |  | 1 |  |

| Information regarding the highest paid director is as follows:

| 31.8.25 |  | 31.8.24

£ | £ |

| Emoluments etc | 259,650 |  | 334,139 |  |

| Pension contributions to money purchase schemes | 1,321 |  | 1,321 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.8.25 |  | 31.8.24

£ | £ |

| Hire of plant and machinery | 1,036 |  | 6,317 |  |

| Other operating leases | 201,096 |  | 163,734 |  |

| Depreciation - owned assets | 55,166 |  | 48,184 |  |

| Foreign exchange losses | - |  | 73,907 |  |

6. | AUDITORS' REMUNERATION

| 31.8.25 |  | 31.8.24

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 15,754 |  | 25,270 |  |

| Auditors' remuneration for non audit work | 1,500 |  | - |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.8.25 |  | 31.8.24

£ | £ |

| Bank loan interest | 3,720 |  | 322 |  |

8. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 31 August 2025 nor for the year ended 31 August 2024.

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 31.8.25 |  | 31.8.24

£ | £ |

| Profit before tax | 885,682 |  | 1,058,905 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 221,421 |  | 264,726 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,318 |  | 5,416 |  |

| Depreciation in excess of capital allowances | 5,957 |  | 4,484 |  |

| Utilisation of tax losses | (236,696 | ) | (274,626 | ) |

| Total tax charge | - |  | - |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 September 2024 | 652,773 |  | 6,585 |  | 659,358 |  |

| Additions | 31,338 |  | - |  | 31,338 |  |

| Disposals | (7,213 | ) | (6,585 | ) | (13,798 | ) |

| At 31 August 2025 | 676,898 |  | - |  | 676,898 |  |

| DEPRECIATION

| At 1 September 2024 | 556,247 |  | 6,585 |  | 562,832 |  |

| Charge for year | 55,166 |  | - |  | 55,166 |  |

| Eliminated on disposal | (7,213 | ) | (6,585 | ) | (13,798 | ) |

| At 31 August 2025 | 604,200 |  | - |  | 604,200 |  |

| NET BOOK VALUE

| At 31 August 2025 | 72,698 |  | - |  | 72,698 |  |

| At 31 August 2024 | 96,526 |  | - |  | 96,526 |  |

10. | STOCKS

| 31.8.25 |  | 31.8.24

£ | £ |

| Stocks | 2,277,606 |  | 2,211,235 |  |

| The company recognised impairment loss of £447,303 in the year (2024: £-163,709) in respect of slow-moving finished goods. This cost is included in cost of sales.

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.25 |  | 31.8.24

£ | £ |

| Trade debtors | 885,112 |  | 1,213,159 |  |

| Amounts owed by group undertakings | 119,966 |  | 154,990 |  |

| Other debtors | 107,175 |  | 58,482 |  |

| VAT | - |  | 14,372 |  |

| Prepayments and accrued income | 274,554 |  | 113,009 |  |

1,386,807 |  | 1,554,012 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.25 |  | 31.8.24

£ | £ |

| Trade creditors | 717,749 |  | 695,300 |  |

| Amounts owed to group undertakings | 3,117,245 |  | 3,555,108 |  |

| Social security and other taxes | 92,671 |  | 97,705 |  |

| VAT | 27,999 |  | - |  |

| Other creditors | - |  | 17 |  |

| Net Wages | 2,754 |  | 3,743 |  |

| Accruals and deferred income | 312,510 |  | 676,332 |  |

4,270,928 |  | 5,028,205 |  |

BALLY SUNGLASS & OPTICAL COMPANY LIMITED (REGISTERED NUMBER: 01368178) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

13. | LEASING AGREEMENTS

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Within one year | 111,250 |  | 110,000 |  |

| Between one and five years | 500,000 |  | 110,000 |  |

611,250 |  | 220,000 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.8.25 |  | 31.8.24

| value: | £ | £ |

| 100 | Ordinary shares | £1 | 100 |  | 100 |  |

15. | PENSION COMMITMENTS

| The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £46,293 (2024: £46,382).

16. | RELATED PARTY DISCLOSURES

| The company has taken advantage of the exemption contained in section 33.1A of FRS102, related party disclosures, and has not disclosed transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company, SPL J Holdings Limited and are publicly available.

| During the year, the company paid rent for warehouse space of £50,000 (2024: £50,000) to L Jablon, who is directly related to the director S Jablon.

| During the year, the company rented out office space to a connected party for £12,000 (2024: £12,000), who is directly related to the director S Jablon.

| At the year end, the company was owed £115,717 (2024: £100,284) from a connected company. This amount is unsecured.

| During the year, a total of key management personnel compensation of £ 454,650 (2024 - £ 529,334 ) was paid.

17. | CONTROLLING PARTY AND PARENT ENTITY

| The immediate and ultimate parent undertaking is SPL J Holdings Limited, which is incorporated in England with a registered office at 1 Rosoman Place, London, EC1R 0JY. The ultimate controlling party is Puyi Group Limited.

| SPL J Holdings Limited is the smallest and largest group undertaking to prepare publicly available consolidated financial statements in the UK that include Bally Sunglass & Optical Company Limited. The registered office of this company and the address the accounts are available from is 1 Rosoman Place, London, England, EC1R 0JY.