Company No: 00761857 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	E A Facy
	V N I Facy
	C D Facy
	A M Facy (Appointed 06 May 2025)

SECRETARY

V N I Facy

REGISTERED OFFICE	27-31 Market Place
	Henley On Thames
	RG9 2AA
	United Kingdom

COMPANY NUMBER

00761857 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	1,024,624		1,030,369
Investment property	4	709,000		709,000
		1,733,624		1,739,369
Current assets
Stocks		34,911		38,438
Debtors	5	526,743		604,563
Cash at bank and in hand		68,725		43,675
		630,379		686,676
Creditors: amounts falling due within one year	6	( 132,122)		( 208,384)
Net current assets		498,257		478,292
Total assets less current liabilities		2,231,881		2,217,661
Provision for liabilities		( 395,262)		( 395,145)
Net assets		1,836,619		1,822,516
Capital and reserves
Called-up share capital	7	300		300
Revaluation reserve		831,315		837,235
Capital redemption reserve		291		291
Profit and loss account	8	1,004,713		984,690
Total shareholders' funds		1,836,619		1,822,516

For the financial year ending 31 January 2026 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 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 Facy Limited (registered number: 00761857) were approved and authorised for issue by the Board of Directors on 23 July 2026. They were signed on its behalf by:

V N I Facy 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

Facy 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 27-31 Market Place , Henley on Thames, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Facy Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Sales of goods
Turnover arises from trading as a department store dealing in ladies and gentlemen's clothing, haberdashery, luggage and accessories. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, which is when the buyer has purchased the goods in store.

Rental income
Operating lease income from investment properties is recognised in profit and loss on a straight-line basis over the lease term.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	150 years straight line
Plant and machinery	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 February 2025	1,306,386		47,571		1,353,957
Additions	0		1,395		1,395
At 31 January 2026	1,306,386		48,966		1,355,352
Accumulated depreciation
At 01 February 2025	283,649		39,939		323,588
Charge for the financial year	6,309		831		7,140
At 31 January 2026	289,958		40,770		330,728
Net book value
At 31 January 2026	1,016,428		8,196		1,024,624
At 31 January 2025	1,022,737		7,632		1,030,369

Revaluation of tangible assets

Land and buildings with a carrying amount of £1,016,428 represent freehold property used by the company and the property was revalued at 31 March 2022 by Simmons and Sons Surveyors LLP, who are not connected with the company. The valuation was made on a market value basis which is defined as the estimated amount for which an asset should exchange on the valuation date between a willing seller in an arm's length transaction, after proper marketing and where the parties had each acted knowledgably, prudently and without compulsion.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

	2026		2025
	£		£
Historical cost	80,637		80,637
Accumulated depreciation	(18,877)		(18,356)
Carrying value	61,760		62,281

4. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	709,000
As at 31 January 2026	709,000

Valuation

Investment property comprises properties which were revalued on 31 March 2022 by Simmons and Sons Surveyors LLP, who are not connected with the company. The valuation was made on a market value basis which is defined as the estimated amount for which an asset should exchange on the valuation date between a willing seller in an arm's length transaction, after proper marketing and where the parties had each acted knowledgably, prudently and without compulsion. Investment property is valued by adopting the investment method of valuation, whilst using direct evidence from comparable properties to ascertain rent and investment yields.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2026		2025
	£		£
Historic cost	17,840		17,840

5. Debtors

	2026		2025
	£		£
Trade debtors	0		2,000
Amounts owed by connected companies	523,302		602,563
Other debtors	3,441		0
	526,743		604,563

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	8,510		7,298
Taxation and social security	64,522		146,110
Other creditors	59,090		54,976
	132,122		208,384

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
240 Ordinary shares of £ 1.00 each	240		240
60 Ordinary B shares of £ 1.00 each	60		60
	300		300

8. Proft and loss reserves

Profit and loss reserve of £1,004,713 (2025 - £984,690), include distributable retained profits of £673,997 (2025 - £659,894) and non-distributable profits of £330,716 (2025 - £324,796).