REGISTERED NUMBER: 09634040

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BRANDY MELVILLE ONLINE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M L Kermabon

A Sarracino

REGISTERED OFFICE:

The Garment Building

9 Fisher’s Lane

London

W4 1RX

REGISTERED NUMBER:

09634040

SENIOR STATUTORY AUDITOR:

Tony Castagnetti

AUDITORS:

Belluzzo Audit Limited

Chartered Accountants and Statutory Auditors

38 Craven Street

London

WC2N 5NG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

165,242

28,673

165,242

28,673

CURRENT ASSETS

Stocks

6

1,169,018

821,631

Debtors

7

5,747,049

3,742,729

Cash at bank

1,206,769

1,680,496

8,122,836

6,244,856

CREDITORS

Amounts falling due within one year

8

(5,702,428

)

(3,661,214

)

NET CURRENT ASSETS

2,420,408

2,583,642

TOTAL ASSETS LESS CURRENT LIABILITIES

2,585,650

2,612,315

CREDITORS

Amounts falling due after more than one year

9

(39,562

)

-

PROVISIONS FOR LIABILITIES

11

(13,034

)

(434

)

NET ASSETS

2,533,054

2,611,881

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

2,533,053

2,611,880

SHAREHOLDERS' FUNDS

2,533,054

2,611,881

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 16 June 2026 and were signed on its behalf by:

A Sarracino - Director

1.	STATUTORY INFORMATION

Brandy Melville Online Ltd 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 (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortization and any accumulated impairment losses.

Computer software has been amortized evenly over its estimated useful life of 3 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

3 years straight line

Fixtures and fittings

-

25% straight line

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2025

and 31 December 2025

32,915

AMORTISATION

At 1 January 2025

and 31 December 2025

32,915

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2025

53,667

44,665

98,332

Additions

123,605

59,547

183,152

At 31 December 2025

177,272

104,212

281,484

DEPRECIATION

At 1 January 2025

26,728

42,931

69,659

Charge for year

37,434

9,149

46,583

At 31 December 2025

64,162

52,080

116,242

NET BOOK VALUE

At 31 December 2025

113,110

52,132

165,242

At 31 December 2024

26,939

1,734

28,673

6.

STOCKS

2025

2024

£

£

Finished goods

1,169,018

821,631

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

93,840

95,587

Amounts owed by group undertakings

5,486,784

3,520,295

Other debtor

31,409

47,500

Tax

24,000

-

Prepayments and accrued income

111,016

79,347

5,747,049

3,742,729

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,875,989

2,122,440

Amounts owed to group undertakings

1,963,113

854,821

Social security and other taxes

14,862

7,403

VAT

463,249

503,445

Other creditors

13,686

392

Accruals and deferred income

364,862

159,361

Accrued expenses

6,667

13,352

5,702,428

3,661,214

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

39,562

-

10.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

240,000

-

Between one and five years

780,000

-

1,020,000

-

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

13,034

434

Deferred

tax

£

Balance at 1 January 2025

434

Provided during year

12,600

Balance at 31 December 2025

13,034

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

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

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)

for and on behalf of Belluzzo Audit Limited

14.	RELATED PARTY DISCLOSURES

During the year, the company was charged royalties of £847,979 (2024: £1,065,770) and advertisement £120,000 from YYGM SA, a company owned by the director's son.

At 31st December 2025, amount due to YYGM SA was £568,479 (2024: £581,984).

At 31st December 2025, an amount due from Tocqueville Holding Ltd was £10,337 (2024 nil) and trade debtors included the following amount due from companies under common control:

- £21,324 (nil in 2024) due from Tocqueville Kings Ltd

- £29,054 (nil in 2024) due from Tocqueville New Row Ltd

- £17,809 (nil in 2024) due from Tocqueville Library Ltd

Furthermore an amount of £180,062 was due to Cem Kings Road Sagl, a company under common control. During the year Cem Kings Road Sagl charged an amount of £288,062 as rent and service charge for the period.

15.	POST BALANCE SHEET EVENTS

Since the balance sheet date, the conflict in Iran has contributed to a significant rise in global energy prices, creating additional cost pressures for the business. UK inflation, which had shown signs of easing during 2025, is now at renewed risk of increasing, and the economic recovery remains fragile. These developments continue to weigh on household confidence and non-essential retail sales, particularly among lower and middle-income customers. Directors are closely monitoring the evolving geopolitical and macroeconomic situation and will implement appropriate measures to manage costs, support sales, and address the ongoing challenges facing the business.

16.	ULTIMATE CONTROLLING PARTY

The controlling party is M L Kermabon.