FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CANALI RETAIL UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Mariani

Mrs K Safai

S Canali

SECRETARY:

Lincoln Secretaries Limited

REGISTERED OFFICE:

12 Bridewell Place

Third Floor East

London

EC1V 6AP

BUSINESS ADDRESS:

64 New Bond Street

London

W1S 1RR

REGISTERED NUMBER:

06916610 (England and Wales)

AUDITORS:

Zenith Advisory

Chartered Accountants and Statutory Auditors

Chancellors House

3 Brampton Lane

Hendon

London

NW4 4AB

FIXED ASSETS

Tangible assets

4

973,258

1,196,169

CURRENT ASSETS

Stocks

1,899,103

1,928,541

Debtors

5

3,489,776

2,492,177

Cash at bank and in hand

2,178

6,398

5,391,057

4,427,116

CREDITORS

Amounts falling due within one year

6

1,269,239

1,009,139

NET CURRENT ASSETS

4,121,818

3,417,977

TOTAL ASSETS LESS CURRENT LIABILITIES

5,095,076

4,614,146

PROVISIONS FOR LIABILITIES

49,998

70,535

NET ASSETS

5,045,078

4,543,611

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Capital contribution

1,000,000

1,000,000

Retained earnings

3,845,078

3,343,611

5,045,078

4,543,611

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 23 June 2026 and were signed on its behalf by:

Mrs K Safai - Director

1.	STATUTORY INFORMATION

Canali Retail UK 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.

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.

Going concern

At the time of approving the financial statements, the directors are confident that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually at the point of sale; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the

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

-

Over the period of the lease

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

25% on reducing balance

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

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss..

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2025

1,173,471

38,403

1,416,848

2,628,722

Additions

-

-

5,279

5,279

Disposals

-

-

(2,053

)

(2,053

)

At 31 December 2025

1,173,471

38,403

1,420,074

2,631,948

DEPRECIATION

At 1 January 2025

446,636

23,994

961,923

1,432,553

Charge for year

107,066

3,602

117,522

228,190

Eliminated on disposal

-

-

(2,053

)

(2,053

)

At 31 December 2025

553,702

27,596

1,077,392

1,658,690

NET BOOK VALUE

At 31 December 2025

619,769

10,807

342,682

973,258

At 31 December 2024

726,835

14,409

454,925

1,196,169

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

70,549

90,965

Amounts owed by group undertakings

2,912,455

1,896,555

Prepayments and accrued income

506,772

504,657

3,489,776

2,492,177

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

135,997

96,783

Amounts owed to group undertakings

616,898

507,951

Corporation tax

104,647

66,982

Social security and other taxes

342,318

254,040

Other creditors

36,227

53,026

Accruals and deferred income

33,152

30,357

1,269,239

1,009,139

7.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

1,685,000

1,685,000

Between one and five years

6,731,945

5,046,945

In more than five years

1,265,753

4,635,753

9,682,698

11,367,698

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

The Report of the Auditors was unqualified.

Martin Tiano FCA (Senior Statutory Auditor)

for and on behalf of Zenith Advisory

9.	RELATED PARTY TRANSACTIONS

During the year, the company entered into the following transactions with related parties:

Transaction value

Balance owed from/(to)

2025

2024

2025

2024

£

£

£

£

Canali Holding SpA

(100,516)

(93,875)

2,691,238

1,741,080

During the year, interest receivable from Canali Holding SpA amounted to £100,516.

At 31 December 2025, the amount owed by Canali Holding SpA under the group cash pooling arrangement amounted to £2,691,238. This is an unsecured, interest-bearing loan which is repayable on demand.

In respect of other transactions with group undertakings, the company has taken advantage of the exemption available under FRS 102 not to disclose transactions with other wholly-owned members of the group.

10.	AUDITOR LIABILITY LIMITATION AGREEMENT

The directors have agreed to a limited liability arrangement with the auditors, the principal terms being that the liability is restricted to ten times the annual audit fee.

11.	ULTIMATE CONTROLLING PARTY

The company's parent and ultimate parent undertaking is Canali Holding SpA, a company registered in Italy whose registered office address is Via Silvio Pellico, 3, 20844 Triuggio (MB), Italy. The results of Canali Retail UK Ltd are included in the consolidated financial statements prepared by Canali Holding SpA.