Company No: 09697347 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Investments	4	1,309		1,309
		1,309		1,309
Current assets
Stocks		241,084		114,868
Debtors	5	44,913		2,500
Cash at bank and in hand		1,304		1,749
		287,301		119,117
Creditors: amounts falling due within one year	6	( 283,139)		( 117,473)
Net current assets		4,162		1,644
Total assets less current liabilities		5,471		2,953
Net assets		5,471		2,953
Capital and reserves
Called-up share capital	7	1,000		1,000
Profit and loss account		4,471		1,953
Total shareholder's funds		5,471		2,953

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Looselabel Distribution Limited (registered number: 09697347) were approved and authorised for issue by the Board of Directors on 30 June 2026. They were signed on its behalf by:

Mr S P Hay Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Looselabel Distribution Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

Prior year values have been restated to adjust for the recognition of investments in subsidiaries which were incorrect in the originally submitted accounts.

More detail behind the restatement can be found in note 2 to the Financial Statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Prior year adjustment

An error relating to the recognition of investments in subsidiaries in the 2024 accounts has been identified. As a result, an adjustment has been made to reflect the accurate position.

		As previously reported		Adjustment		As restated
Year ended 31 December 2024		£		£		£
Investments		0		1,309		1,309
Creditors: amounts falling due within one year		(116,164)		(1,309)		(117,473)

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2025	1,309		1,309
At 31 December 2025	1,309		1,309
Carrying value at 31 December 2025	1,309		1,309
Carrying value at 31 December 2024	1,309		1,309

5. Debtors

	2025		2024
	£		£
Trade debtors	6,616		0
Amounts owed by Group undertakings	2,500		0
Other debtors	35,797		2,500
	44,913		2,500

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	190,494		23,568
Amounts owed to Group undertakings	91,141		91,141
Other creditors	1,504		2,764
	283,139		117,473

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

8. Ultimate controlling party

Parent Company:

Bisop Limited

Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW