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Registration number: 10281992

The One Atelier Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

The One Atelier Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 11

The One Atelier Limited

(Registration number: 10281992)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 5 | 247,468 | 264,503
Tangible assets | 6 | 75,877 | 113,025
Investments | 7 | 172,913 | 164,161
|  | 496,258 | 541,689
Current assets |  |  |
Debtors | 8 | 2,526,841 | 2,573,227
Cash at bank and in hand |  | 4,835,068 | 2,478,309
|  | 7,361,909 | 5,051,536
Creditors: Amounts falling due within one year | 9 | (7,176,947) | (4,675,211)
Net current assets |  | 184,962 | 376,325
Total assets less current liabilities |  | 681,220 | 918,014
Creditors: Amounts falling due after more than one year | 9 | (575,092) | (691,793)
Net assets |  | 106,128 | 226,221
Capital and reserves |  |  |
Called up share capital |  | 1,000,000 | 1,000,000
Revaluation reserve |  | 11,986 | 39,090
Retained earnings |  | (905,858) | (812,869)
Shareholders' funds |  | 106,128 | 226,221

The One Atelier Limited

(Registration number: 10281992)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 29 June 2026 and signed on its behalf by:

......................................... M Galli Director

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
17 Grosvenor Street
Mayfair
London
W1K 4QG

These financial statements were authorised for issue by the Board on 29 June 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold Improvements | 2-5 years straight line
Plant and Machinery | 5 years straight line
Fixtures and Fittings | 5 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Intangible assets | 2-5 years straight line

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 5).

4 | Loss/profit before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 62,797 | 59,305
Amortisation expense | 35,081 | 33,063

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5 | Intangible assets

| Goodwill £ | Trademarks, patents and licenses £ | Total £
Cost or valuation
At 1 January 2025 | 333,769 | - | 333,769
Additions acquired separately | - | 3,419 | 3,419
Foreign exchange movements | 14,627 | - | 14,627
At 31 December 2025 | 348,396 | 3,419 | 351,815
Amortisation
At 1 January 2025 | 69,266 | - | 69,266
Amortisation charge | 34,891 | 190 | 35,081
At 31 December 2025 | 104,157 | 190 | 104,347
Carrying amount
At 31 December 2025 | 244,239 | 3,229 | 247,468
At 31 December 2024 | 264,503 | - | 264,503

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 January 2025 | 284,015 | - | 333,113 | 617,128
Additions | 785 | 9,982 | 8,658 | 19,425
Foreign exchange movements | - | - | 1,018 | 1,018
At 31 December 2025 | 284,800 | 9,982 | 342,789 | 637,571
Depreciation
At 1 January 2025 | 189,886 | - | 314,217 | 504,103
Charge for the year | 54,334 | 1,248 | 7,215 | 62,797
Foreign exchange movements | (5,206) | - | - | (5,206)
At 31 December 2025 | 239,014 | 1,248 | 321,432 | 561,694
Carrying amount
At 31 December 2025 | 45,786 | 8,734 | 21,357 | 75,877
At 31 December 2024 | 94,129 | - | 18,896 | 113,025

Included within the net book value of land and buildings above is £45,786 (2024 - £94,130) in respect of long leasehold land and buildings.

7 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 172,913 | 164,161

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 164,161
Additions | 8,752
At 31 December 2025 | 172,913
Provision
Carrying amount
At 31 December 2025 | 172,913
At 31 December 2024 | 164,161

8 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 1,280,529 | 1,732,356
Amounts owed by related parties | 10 | 754,739 | 609,745
Prepayments |  | 1,225 | 643
Other debtors |  | 490,348 | 230,483
|  | 2,526,841 | 2,573,227

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | - | 134,782
Trade creditors |  | 310,692 | 401,976
Taxation and social security |  | 49,713 | 6,462
Accruals and deferred income |  | 6,686,665 | 4,017,766
Other creditors |  | 129,877 | 114,225
|  | 7,176,947 | 4,675,211

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 575,092 | 691,793

The One Atelier Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

10 | Related party transactions

At the end of the year there is a sum of £754,739 (2024: £609,745) due from the subsidiary undertakings. This amount is non interest bearing and is repayable on demand.

Transactions with directors

2025 | At 1 January 2025 £ | Advances to director £ | At 31 December 2025 £
M Galli
Director Loan Account - interest charged at HMRC official beneficial rate | 111,514 | 168,014 | 279,528

2024 | At 1 January 2024 £ | Advances to director £ | At 31 December 2024 £
M Galli
Director Loan Account - interest charged at HMRC official beneficial rate | 5,590 | 105,924 | 111,514