REGISTERED NUMBER: 14651003 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MONTRES JOURNE LONDON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F P Journe

A Lefevere

S Mehta

SECRETARY:

P Rabin

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

14651003 (England and Wales)

AUDITORS:

Orcom Civvals Audit Limited

Chartered Accountants and

Statutory Auditors

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

367,941

506,009

CURRENT ASSETS

Stocks

1,624,081

2,436,001

Debtors

5

177,353

49,595

Cash at bank and in hand

3,685,718

2,993,804

5,487,152

5,479,400

CREDITORS

Amounts falling due within one year

6

(521,043

)

(2,185,816

)

NET CURRENT ASSETS

4,966,109

3,293,584

TOTAL ASSETS LESS CURRENT LIABILITIES

5,334,050

3,799,593

PROVISIONS FOR LIABILITIES

7

(46,935

)

(78,608

)

NET ASSETS

5,287,115

3,720,985

CAPITAL AND RESERVES

Called up share capital

8

100,000

100,000

Retained earnings

9

5,187,115

3,620,985

SHAREHOLDERS' FUNDS

5,287,115

3,720,985

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 22 May 2026 and were signed on its behalf by:

S Mehta - Director

1.	STATUTORY INFORMATION

Montres Journe London Ltd is a private company, limited by shares, registered in England and Wales. Its registered number is 14651003. The address of its registered office is 50 Seymour Street, London, United Kingdom, W1H 7JG. The trading address is 33 Bruton St, London, W1J 6QZ.

Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (the "functional currency").

The functional currency of the company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

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.

Going Concern

The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In doing this, the director has considered the results for the period, expectations of future trading and the availability of continued funding. On the basis of this information the director is satisfied that the Company will continue as a going concern and so the financial statements have been prepared on this basis.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Installation of showroom/ Leasehold improvements

8% Reducing balance or lease term whichever is lower

Fixtures and fittings

25% Reducing balance

Demonstration equipment

25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a 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 Statement of Comprehensive Income.

Depreciation of tangible fixed assets is recognised in the Statement of Comprehensive Income within 'administrative expenses'.

Stocks

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.

At each reporting 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 profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

- the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Foreign currencies translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'administrative expenses'.

Hire purchase and leasing commitments

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Installation

of

showroom

Fixtures

/Leasehold

and

Demonstration

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

562,471

76,505

67,195

706,171

DEPRECIATION

At 1 January 2025

158,324

23,578

18,260

200,162

Charge for year

112,494

13,232

12,342

138,068

At 31 December 2025

270,818

36,810

30,602

338,230

NET BOOK VALUE

At 31 December 2025

291,653

39,695

36,593

367,941

At 31 December 2024

404,147

52,927

48,935

506,009

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,940

530

Amounts owed by group undertakings

1,731

-

Other debtors

21,000

21,454

Corporation tax recoverable

88,502

-

Prepayments

55,180

27,611

177,353

49,595

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

28,155

63,933

Amounts owed to group undertakings

-

785,954

Tax

-

977,876

VAT

108,385

137,240

Other creditors

60,980

89,952

Accrued expenses

323,523

130,861

521,043

2,185,816

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

46,935

78,608

Deferred

tax

£

Balance at 1 January 2025

78,608

Credit to Income Statement during year

(31,673

)

Balance at 31 December 2025

46,935

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100,000

Ordinary

£1

100,000

100,000

9.

RESERVES

Retained

earnings

£

At 1 January 2025

3,620,985

Profit for the year

3,566,130

Dividends

(2,000,000

)

At 31 December 2025

5,187,115

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

The Report of the Auditors was unqualified.

Philip Jones (Senior Statutory Auditor)

for and on behalf of Orcom Civvals Audit Limited

11.	RELATED PARTY DISCLOSURES

During the year, the company entered into transactions with the parent company and other entities under its control, and with other shareholders that have significant influence over the company.

All transactions with related parties were conducted on normal commercial terms and at arm's length.

12.	POST BALANCE SHEET EVENTS

There have been no significant affecting the company since the year end.

13.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Montres Journe SA, a company incorporated in Switzerland. Its registered office address is 17 Rue De L'Arquebuse, Geneva, 1204, Switzerland.

The company's results are consolidated in the financial statements of Montres Journe SA, which is the smallest and largest group in which the results of the company are consolidated.The consolidated accounts of Montres Journe SA are available from its registered office.