FD Retailing Limited iXBRL

Company Registration Number: NI651051

FD Retailing Limited

Unaudited Financial Statements

for the financial year ended 31 October 2025

FD Retailing Limited

DIRECTORS AND OTHER INFORMATION


Directors	Stuart Dixon
	Trevor Finlay


Company Registration Number	NI651051


Registered Office and Business Address	23 Ferryquay Street
	Londonderry
	BT48 6JB


Accountants	MCI Chartered Accountants
	Sentinel House
	13 Pump Street
	Londonderry
	BT48 6JG


Bankers	Ulster Bank
	11-16 Donegal Square East
	Belfast
	BT1 5UB


	Monzo Bank Limited
	Broadwalk House,
	5 Appold Street,
	London
	EC2A 2AG
	United Kingdom

FD Retailing Limited

Company Registration Number: NI651051

BALANCE SHEET

as at 31 October 2025

		2025	2024
	Notes	£	£

Fixed Assets

Intangible assets	4	74,761	84,761
Tangible assets	5	286,807	336,876
		─────────	─────────
Fixed Assets		361,568	421,637
		─────────	─────────

Current Assets

Stocks	6	-	221,090
Debtors	7	12,445	6,677
Cash and cash equivalents		6,096	64,664
		─────────	─────────
		18,541	292,431
		─────────	─────────
Creditors: amounts falling due within one year	8	(635,370)	(658,748)
		─────────	─────────
Net Current Liabilities		(616,829)	(366,317)
		─────────	─────────
Total Assets less Current Liabilities		(255,261)	55,320

Creditors:

amounts falling due after more than one year	9	(224,531)	(271,054)
		─────────	─────────
Net Liabilities		(479,792)	(215,734)
		═════════	═════════

Capital and Reserves

Called up share capital	200	200
Retained earnings	(479,992)	(215,934)
	─────────	─────────
Shareholders' Deficit	(479,792)	(215,734)
	═════════	═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 11 August 2026 and signed on its behalf by

Stuart Dixon

Director

Trevor Finlay

Director

FD Retailing Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 October 2025

General Information

FD Retailing Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is NI651051. The registered office of the company is 23 Ferryquay Street, Londonderry, BT48 6JB. The principal activity of the company is operation of retail stores. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 October 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods) and the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually at the point of sale.

Intangible assets

Licences

Intangible assets are capitalised in the balance sheet and amortised over the estimated useful ecomonic life of ten years, being the period during which the benefits are expected to accrue.

If there is an indiciation that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

The carrying value of intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may be impaired. Impairment losses are recognised in that statement of income and retained earnings.

Amotisation is calculated to write of the cost in equal annual installments over the esimated usful life of 10 years.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Leasehold property

2% Straight line

Fixtures, fittings and equipment

15% Reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

The charge for taxation is based on the results for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Provision is made at the rates expected to apply when the timing differences reverse. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in taxable profits in period's difference from those in which they are recognised in the financial statements.

Employees

The average monthly number of employees, including directors, during the financial year was 23. (2024: 31)


4.	Intangible assets

		Licences
		£
	Cost
	At 1 November 2024	100,000
		─────────

	At 31 October 2025	100,000
		─────────
	Amortisation
	At 1 November 2024	15,239
	Charge for financial year	10,000
		─────────
	At 31 October 2025	25,239
		─────────
	Net book value
	At 31 October 2025	74,761
		═════════
	At 31 October 2024	84,761
		═════════


5.	Tangible assets
			Fixtures,	Total
		Leasehold	fittings and
		property	equipment
		£	£	£
	Cost
	At 1 November 2024	14,064	400,164	414,228
		─────────	─────────	─────────

	At 31 October 2025	14,064	400,164	414,228
		─────────	─────────	─────────
	Depreciation
	At 1 November 2024	1,609	75,743	77,352
	Charge for the financial year	1,406	48,663	50,069
		─────────	─────────	─────────
	At 31 October 2025	3,015	124,406	127,421
		─────────	─────────	─────────
	Net book value
	At 31 October 2025	11,049	275,758	286,807
		═════════	═════════	═════════
	At 31 October 2024	12,455	324,421	336,876
		═════════	═════════	═════════


6.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	-	221,090
		═════════	═════════

	If stocks were stated at replacement cost (latest purchase price) they would not differ materially from the above.


7.	Debtors	2025	2024
		£	£

	Prepayments and accrued income	12,445	6,677
		═════════	═════════


8.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Bank overdrafts	7,623	-
	Bank loan	46,863	42,630
	Trade creditors	27,822	113,559
	Amounts owed to group undertakings	487,112	437,112
	Taxation	29,080	29,737
	Accruals:
	Pension accrual	883	837
	Other accruals	35,987	34,873
		─────────	─────────
		635,370	658,748
		═════════	═════════

	Total creditors above include secured liabilities amounting to £63,848 (2024: £42,630)


9.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Bank Loan	224,531	271,054
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 8)	54,486	42,630
	Repayable between two and five years	46,862	42,629
	Repayable in five years or more	177,669	228,425
		─────────	─────────
		279,017	313,684
		═════════	═════════


	Total creditors above includes secured liabilities amounting to £224,531 (2024: £271,054).

10.

Financial commitments

Property rental commitments which are not included in the balance sheet at the year end were £417,833 (2024: 632,333).

11.

Ultimate Parent Undertaking

The company's ultimate parent undertaking is FD Exchange Limited, a company incorporated and registered in Northern Ireland (company number: NI070922) and under the control of its directors.

The financial statements for FD Exchange Limited are available to the public and may be obtained from the Companies House.

12.

Security

As security for bank borrowings, National Westminster Bank PLC (Trading as Ulster Bank) holds a fixed and floating charge over all assets of the company.