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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
COMPANY INFORMATION
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FRESHA.COM SV LIMITED
CONTENTS
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FRESHA.COM SV LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report for the year ended 31 December 2025.
Fresha.com SV Limited (the Company) operates under the brand "Fresha". Fresha’s services to its customers (“Partners”) include a free-to-use platform for booking appointments, free software for managing accounts, a payment service that provides for both a physical point of sale and digital interface, as well as a marketplace to market the Partners services and goods to clients (B2C) in the beauty, wellness, and lifestyle industry. The Company monetise its service to Partners in United Kingdom. The Company charges a licence fee to other affiliates within Fresha group for the licence fees. Fresha research and development function is established in the United Kingdom.
The results of the Group for the year show a loss on ordinary activities before tax for the period of 12 months ended 31 December 2025 of £2.4 million (£23.4 million for the year ended in 31 December 2024). The Group presents unsecured liabilities in the period of 12 months ended 31 December 2025 totalling £83.8 million (£86.9 million in the year ended 31 December 2024).
The Group’s key financial indicators during the year were as follows:
Results and dividends The loss for the year, after taxation, in the period ended 31 December 2025 amounted to £0.7 million (£22.5 million in the year ended 31 December 2024) No dividends will be distributed for the period ended 31 December 2025 (nil in 2024).
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FRESHA.COM SV LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal risks and uncertainties of the Company relate to global economy.
The Company's success is dependent on the ongoing support from the Parent entity, maintaining, developing and executing on its competitive advantage in the UK market. Cashflow and liquidity risk The Company operates on an intercompany financing model and is therefore fully funded by the Parent entity. The Company received a loan from the JPMorgan Bank, London Branch for working capital, the Company has sufficient runway for more than 18 months based on the current cash burn rate. Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit. Due to the nature of the business the Company has minimal liquidity risk and cash flows are managed on a daily basis. Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations, which will result in financial loss to the Company. The directors have assessed the credit risk as minimum as the Company does not have any external debt. Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit. Due to the nature of the business the Company has minimal liquidity risk and cash flows are managed on a daily basis. Foreign exchange risk The company is exposed to foreign exchange risks as a result of its operations which are mostly denominated in US Dollars and Euros. These risks are managed at group level.
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FRESHA.COM SV LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Principal risks and uncertainties (continued)
Competition risk Through continual development of R&D to develop new products at group level, by its parent company and related parties, the company provides solutions that are competitive and are seen to be at the forefront of its clients’ experience. Future plans & developments The company is planning to increase sales, maintain operating expenses and through that break even by the end of 2026. Going concern The directors have a reasonable expectation that the Group and the Company has adequate resources to continue in operational existence for the foreseeable future. This expectation is based on the current cash position at 31 December 2025 and arrangement with Fresha.com Holding Inc. the Company's parent, to provide financial support to the Group and the Company to enable it to settle its debts as they fall due for a period of not less than a year from the date of the approval of the financial statements.
This report was approved by the board and signed on its behalf.
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FRESHA.COM SV LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group will continue in business.
The directors are 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £729,222 (2024 - loss £22,526,837).
No dividends will be distributed for the year ended 31 December 2025 (year ended 31 December 2024: £nil).
The directors who served during the year were:
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FRESHA.COM SV LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Subsequent to the year end, the parent and group successfully raised an additional $80 million funding from KKR.
The auditors, Nortons Assurance Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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FRESHA.COM SV LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FRESHA.COM SV LIMITED
We have audited the financial statements of Fresha.com SV Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' 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 Group's or the Parent 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 directors with respect to going concern are described in the relevant sections of this report.
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FRESHA.COM SV LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FRESHA.COM SV LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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FRESHA.COM SV LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FRESHA.COM SV LIMITED (CONTINUED)
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 an Auditors' Report 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 Group 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:
The objectives of our audit, in respect to fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. Our approach was as follows:
∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework including the Companies Act 2006 and the relevant tax compliance regulations in the UK.
∙We understood how the Company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.
∙We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by discussing with management to understand where it considered there was a susceptibility to fraud. We considered the controls that the Company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud and error.
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FRESHA.COM SV LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FRESHA.COM SV LIMITED (CONTINUED)
∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraphs above. Our procedures involved journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business, enquiries of Company management and focused testing. In addition, we completed procedures to conclude on the compliance of the disclosures in the Annual Report and Accounts with the requirements of the relevant accounting standards and UK legislation.
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 Auditors' 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 an Auditors' Report 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.
for and on behalf of
Statutory Auditor
NOW Building
Thames Valley Park
Reading
RG6 1RB
29 May 2026
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FRESHA.COM SV LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
REGISTERED NUMBER: 11326509
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
REGISTERED NUMBER: 11326509
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 45 form part of these financial statements.
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FRESHA.COM SV LIMITED
REGISTERED NUMBER: 11326509
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
REGISTERED NUMBER: 11326509
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 45 form part of these financial statements.
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FRESHA.COM SV LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Fresha.com SV Limited (the "Company") and its subsidiaries (together the "Group"), is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The registered address is 71-75 Shelton Street, London, WC2H 9JQ.
The Company and Group operates under the brand "Fresha". Fresha's services to its customers ("Partners") include a free-to-use platform for booking appointments, free software for managing accounts, a payment service (via 3rd party) that provides for both a physical point of sale and digital interface, as well as a marketplace to market the Partners services and goods to clients (B2C) in the beauty, wellness and lifestyle industry. The Company monetise its service to Partners in the United Kingdom.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2026.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The directors have a reasonable expectation that the Group and the Company have adequate resources to continue in operational existence for the foreseeable future. This expectation is based on the current cash position as at 31 December 2025 and arrangement with Fresha.com Holding Inc. the Company's parent, to provide financial support to the Group and the Company to enable it to settle its debts as they fall due for a period of not less than a year from the date of the approval of the financial statements.
Functional and presentation currency
Transactions and balances
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Revenue from these intra-group service agreements is recognised as turnover in the period in which the services are rendered and the licensing rights are utilised, provided that the amount can be reliably measured and it is probable that economic benefits will flow to the company. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 profit or loss.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group 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 Group's Balance Sheet when the Group 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.
Financial liabilities within the scope of IAS 39 are initially classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.
The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs. Subsequently, the measurement of financial liabilities depends on their classification as follows: After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method. Gains and losses arising on the repurchase, settlement or otherwise cancellation of liabilities are recognised respectively in finance revenue and finance cost. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future period if the revision affects both current and future periods.
Analysis of turnover by country of destination:
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 29
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 33
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Intangible assets (continued)
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 35
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Tangible fixed assets (continued)
Page 36
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 37
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 38
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The above bank loans are set to mature within the next 2 - 5 years, and are secured with certain assets of the company, please see note 24 for details.
Transaction costs of £420,506 were deducted from the initial carrying amount and will be amortised over the loan term.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Foreign exchange reserve
Profit and loss account
Page 40
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 41
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company has given a guarantee in respect of the bank loan which amounted to USD 23,000,000 (2024: USD 23,000,000). The guarantee is secured by charges on the company's ordinary shares, and its cash at bank and in hand, and by a charge on its Intellectual Property & Trademarks.
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those the Group is an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £328,883 (31 December 2024: £303,536). Contributions totalling £70,003 (31 December 2024: £64,054) were payable to the fund at the balance sheet date and are included in creditors.
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those the Company is an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £325,164 (31 December 2024: £303,536). Contributions totalling £69,146 (31 December 2024: £64,054) were payable to the fund at the balance sheet date and are included in creditors.
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Financial risk factors
The Company’s activities expose it to market risk, credit risk and liquidity risk.
The Board of Directors is responsible for setting the objectives and underlying principles of financial risk management for the Company. The management team then establishes detailed policies such as risk identification and measurement, exposure limits and hedging strategies. Financial risk management is carried out by treasury personnel.
The finance personnel measure actual exposures against the limits set and prepare regular reports for the review of the management team and the Board of Directors. The information presented below is based on information received by key management.
(a) Market risk
Currency risk
The Company’s business is exposed to the United States Dollar (“USD”) as significant portion of financial assets and liabilities are denominated in USD.
The Company’s currency exposure to the USD and is as follows as at 31 December:
Page 43
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
(b) Credit risk
The maximum exposure to credit risk for each class of financial assets is the carrying amount of that class of financial instruments presented on the balance sheet. The Company’s major classes of financial assets are bank deposits and due from related parties and trade receivables The following table summarizes the age of due from related parties and trade receivables at 31 December, before the allowances for doubtful debts:
(i) Financial assets that are neither past due nor impaired
Bank deposits that are neither past due nor impaired are mainly deposits with banks which have high credit-ratings as determined by international credit-rating agencies. Due from related parties and trade receivables that are neither past due nor impaired are substantially companies with good collection track records with the Company.
(ii) Financial assets that are past due and/or impaired
There is no other class of financial assets that is past due and/or impaired except for trade receivables.
(c) Liquidity risk
The maturity profile of the Company’s financial liabilities based on contractual undiscounted cash flows for trade and other payables is less than one year.
(d) Capital risk
The Company’s objectives when managing capital are to ensure that the Company is adequately capitalised and to maintain an optimal capital structure by issuing or redeeming additional equity and debt instruments when necessary.
The Company’s management monitors its capital based on net debt and total capital. Net debt is calculated as creditors, less cash and bank deposits. Total capital is calculated as equity plus net debt.
The company's loan facility is subject to both financial and non-financial covenants. The financial covenants have been complied with throughout the year. A waiver was obtained from the lender in respect of a non-financial covenant as at the reporting date, and the loan remains classified according to its original terms.
Page 44
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FRESHA.COM SV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group and the Company are controlled by its ultimate parent company Fresha.com Holding Inc. a company registered in the British Virgin Island. The company’s registered office is 3076 Sir Francis Drake’s Highway, PO Box 3463, Road Town, British Virgin Island, VG1110.
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