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Registered number: 01518316 FRANK SAUL (FASHIONS) LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
FRANK SAUL (FASHIONS) LIMITED
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 9
FRANK SAUL (FASHIONS) LIMITED REGISTERED NUMBER:01518316
STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 15,842 |  | 18,279
Tangible assets | 5 |  | 51,420 |  | 66,670
|  |  | 67,262 |  | 84,949
Non-current assets |  |  |  |  |
Debtors due after more than 1 year | 7 |  | 10,295,028 |  | 9,585,028
Current assets |  |  |  |  |
Stocks | 6 | 784,660 |  | 945,752 |
Debtors due within 1 year | 7 | 272,567 |  | 325,070 |
Cash at bank and in hand |  | 3,930,182 |  | 3,499,625 |
|  | 4,987,409 |  | 4,770,447 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 8 | (553,160) |  | (615,813) |
Net current assets |  |  | 4,434,249 |  | 4,154,634
Total assets less current liabilities |  |  | 14,796,539 |  | 13,824,611
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 |  | (12,548) |  | (16,293)
Net assets |  |  | 14,783,991 |  | 13,808,318
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 3,000 |  | 3,000
Capital redemption reserve |  |  | 1,000 |  | 1,000
Profit and loss account |  |  | 14,779,991 |  | 13,804,318
|  |  | 14,783,991 |  | 13,808,318
Page 1
FRANK SAUL (FASHIONS) LIMITED REGISTERED NUMBER:01518316
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 OCTOBER 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 June 2026.
D Saul
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
The Company's legal form is that of a private limited company incorporated in England and Wales. The Company’s registered office and principal place of business is Frank Saul House, Steele Road, London, NW10 7AR The principal activity of the Company is the supply of ladies clothing. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover comprises revenue recognised by the Company in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised when goods are dispatched.
| 2.3 | 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, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | 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 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.
| 2.4 | Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Costs includes all direct costs. Page 3
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.5 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.6 | 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.
| 2.7 | Creditors
Short term creditors are measured at the transaction price.
| 2.8 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is £ Sterling. Transactions and balances 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.
| 2.9 | Dividends
Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.10 | Pensions
Defined contribution pension plan The Company contributes to 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 the Statement of Comprehensive Income 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.
| 2.11 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 4
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.12 | Current and deferred 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 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.
| 2.13 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 17 (2024 - 17).
Page 5
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
4. | Intangible assets
|  | Trademarks
|  | £
| Cost |
| At 1 November 2024 | 24,372
| At 31 October 2025 | 24,372
| Amortisation |
| At 1 November 2024 | 6,093
| Charge for the year on owned assets | 2,437
| At 31 October 2025 | 8,530
| Net book value |
| At 31 October 2025 | 15,842
| At 31 October 2024 | 18,279
Page 6
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 November 2024 | 25,005 | 81,510 | 73,694 | 180,209
| Additions | - | - | 3,425 | 3,425
| At 31 October 2025 | 25,005 | 81,510 | 77,119 | 183,634
| Depreciation |  |  |  |
| At 1 November 2024 | 21,997 | 25,471 | 66,071 | 113,539
| Charge for the year on owned assets | 1,063 | 14,010 | 3,602 | 18,675
| At 31 October 2025 | 23,060 | 39,481 | 69,673 | 132,214
| Net book value |  |  |  |
| At 31 October 2025 | 1,945 | 42,029 | 7,446 | 51,420
| At 31 October 2024 | 3,008 | 56,039 | 7,623 | 66,670
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 784,660 | 945,752
Page 7
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 10,295,028 | 9,585,028
| Due within one year |  |
| Trade debtors | 222,178 | 275,038
| Other debtors | 20,478 | 20,507
| Prepayments and accrued income | 29,911 | 29,525
|  | 10,567,595 | 9,910,098
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 221,311 | 127,554
| Corporation tax | 141,853 | 299,799
| Taxation and social security | 60,302 | 54,984
| Other creditors | 22,357 | 19,059
| Accruals | 107,337 | 114,417
|  | 553,160 | 615,813
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 16,293
| Charged to profit or loss | (3,745)
| At end of year | 12,548
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 12,548 | 16,293
Page 8
FRANK SAUL (FASHIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 3,000 Ordinary shares of £1.00 each | 3,000 | 3,000
11. | Related party transactions
| Loans to entities under common ownership and control The Company has made interest-free unsecured loans to entities that are under common ownership and control that are included in debtors falling due after more than one year. These loans are repayable on demand but are not expected to be repaid within one year. The aggregate balance outstanding at 31 October 2025 was £536,035 (2024 - £710,196). No interest or other consideration has been charged on these balances. Loans to entities owned by a close family member of the director The Company has made unsecured loans to property investment and development entities owned by a close family member of the director that are included in debtors falling due after more than one year. These loans are repayable on demand but are not expected to be repaid within one year. Interest is charged by reference to the level of profits generated by those entities, the amount of which is determined by the parties from time to time. The aggregate balance outstanding at 31 October 2025 was £9,758,993 (2024 - £8,874,832). Interest income recognised in respect of these arrangements in the year was £26,450 (2024 - £nil).
Page 9