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Registered number: 16140965
WILD ONE LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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WILD ONE LTD
COMPANY INFORMATION
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Chartered Accountants & Statutory Auditors
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1st Floor Sackville House
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WILD ONE LTD
CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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WILD ONE LTD
REGISTERED NUMBER: 16140965
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Allotted, called up and unpaid share capital
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Equity shareholders' deficit
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Page 1
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WILD ONE LTD
REGISTERED NUMBER: 16140965
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Directors' Report and Statement of Income and Retained Earnings in
accordance with provisions applicable to companies subject to the small companies regime, under section 444
of the Companies Act 2006.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 September 2026.
The notes on pages 4 to 14 form part of these financial statements.
Page 2
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WILD ONE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Share-based payment reserve
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Charge recognised during the period
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Contributions by and distributions to owners
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Shares issued during the period
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The notes on pages 4 to 14 form part of these financial statements.
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Page 3
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Wild One Ltd (Company number: 16140965), having is registered office and principal place of business at A38 Aerdrome Studios, Christchurch, Dorset, United Kingdom, BH23 3TS, is a private limited company incorporated in England and Wales.
The company was incorporated on 17 December 2024 and this is the first period for which financial statements have been prepared. Accordingly, no comparative amounts are presented.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard Applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7, from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.
The financial statements have been prepared on the going concern basis, notwithstanding the net liabilities of £567,585 which the directors believe to be appropriate for the following reasons:
The Directors have prepared budgets, forecasts and cash flow projections covering 2026, which indicate that the Company has sufficient resources to continue its operations as they fall due.
In addition, the Company benefits from committed funding support from its parent company. Montres NORQAIN SA has indicated that for at least 12 months from the date of approval of these financial statements and for the foreseeable future, it will continue to make available such funds as are needed by the Company and in particular will not seek repayment of the amounts currently made available if the Company does not have adequate cash or facilities to make the repayment. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
Page 4
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
Page 5
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Equity-settled share-based payments are measured at the fair value of the equity instruments granted at the date of grant. The fair value determined at the grant date is recognised as an expense through the statement of comprehensive income over the vesting period, based on the Company's estimate of the number of awards that will ultimately vest. A corresponding credit is recognised within equity as a share-based payment reserve. At each reporting date, the Company reviews its estimate of the number of equity instruments expected to vest and adjusts the cumulative charge recognised in the statement of comprehensive income account accordingly. Upon vesting and issue of the underlying shares, amounts recognised within the share-based payment reserve are transferred to share capital and share premium, as appropriate.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
Page 6
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
Page 7
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including directors, during the period was 4.
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Page 8
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Finished goods and consumables
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Prepayments and accrued income
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Page 9
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Included within creditors falling due after more than one year is an amount due to the Company’s parent undertaking. The balance relates to an unsecured loan, denominated in Swiss francs, which is interest-bearing from 1 January 2026 and repayable on notice. Interest is charged at a variable rate linked to the Bank of England base rate and is payable annually.
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Page 10
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Allotted, called up and unpaid
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10,000 A Ordinary shares of £0.01 each
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7,216 B2 Ordinary shares of £0.01 each
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286 B1 Ordinary shares of £0.01 each
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The company's issued share capital comprises three classes of ordinary shares, all of which carry a nominal value of £0.01 per share. As at 31 December 2025, the company had allotted, called up and fully paid share capital of £175, represented by 10,000 A Ordinary shares, 7,216 B2 Ordinary shares and 286 B1 Ordinary shares.
Share premium account
The share premium account represents the amount received by the company on the issue of B1 Ordinary shares in excess of their nominal value of £0.01 per share.
Other reserves
Other reserves comprise the cumulative charge recognised in respect of equity-settled share-based payment arrangements. The reserve reflects the fair value of shares and share options granted to employees, consultants and other service providers, recognised over the period in which the related services are received. Upon exercise of any options or issuance of shares, the corresponding amount may be transferred within equity in accordance with the company's accounting policies.
At 31 December 2025, the balance on the share-based payment reserve was £135,775.
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Share-based payment (Arrangement 1)
During the period, the Company operated an equity-settled share-based payment arrangement in favour of a Director. The arrangement was granted in connection with services provided to the Company and provides entitlement to B1 Performance Shares subject to continued employment and future vesting conditions. The award is governed by an Equity Letter dated January 2025 and includes a 12-month cliff period.
The Company has determined that the arrangement falls within the scope of FRS 102 Section 26, Share-based Payment, and accordingly recognises the fair value of services received over the applicable vesting periods with a corresponding credit recognised directly in equity.
The awards comprise 1,000 B1 Performance Shares with an estimated aggregate fair value of £312,500 (£312.50 per share). At 31 December 2025, the shares had been reserved for issue but had not yet vested, been exercised or been formally allotted.
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Page 11
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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The awards outstanding at 31 December 2025 were subject to the following vesting conditions:
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Fair Value Assumptions
The share awards were valued using the value determined under the equity participation arrangements approved by the Company. The awards do not require the participant to subscribe for shares at a specified exercise price and therefore have a nil exercise price. The fair value attributed to the awards at the grant date was £312.50 per share.
Charge Recognised in the Profit and Loss Account
During the period ended 31 December 2025, the Company recognised an equity-settled share-based payment expense of £102,170 within administrative expenses. A corresponding credit was recognised within the share-based payment reserve.
The awards are subject to continued service and vest in four tranches between 31 January 2027 and 31 January 2030. The Company has concluded that the arrangement represents remuneration for employment services and accordingly recognises the fair value of the awards over the vesting period. No shares had vested or been issued as at 31 December 2025 and consequently no amount has been recognised within share capital or share premium in respect of the arrangement at the reporting date.
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Page 12
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Share-based payment (Arrangement 2)
During the period, the Company entered into an equity-settled share-based payment arrangement with a Company in connection with the provision of brand ambassador, promotional and image rights services relating to the NORQAIN brand. Under the terms of the agreement, the Company is required to issue B1 shares as partial consideration for services provided throughout the contractual term. The arrangement commenced on 16 August 2024 and remains in force until 31 December 2028. The services provided include promotional appearances, social media activities, content creation and the grant of image rights associated with the ambassador relationship.
The Company has assessed the arrangement in accordance with FRS 102 Section 26 and concluded that the equity component represents consideration for services received in exchange for equity instruments. Accordingly, the fair value of the services received is recognised as an expense over the period during which the services are received, with a corresponding credit recognised directly within equity.
Under the agreement, equity consideration with a contractual value of CHF 100,000 is payable in each contracted year 1-4 through the issue and allotment of B1 shares. In addition, in years 3 and 4 and extra £100,000 is payable through the further issue and allotment of B1 shares. The number of shares to be issued is determined by reference to the valuation mechanism specified within the agreement. At 31 December 2025, certain awards remained to be settled through the future issue of shares and the corresponding share-based payment reserve reflects the cumulative value of services received for which equity instruments have yet to be issued.
The Company recognised a share-based payment expense in respect of the arrangement during the period ended 31 December 2025, representing the fair value of ambassador and image rights services received during the accounting period. A corresponding credit has been recognised within the share-based payment reserve.
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,891. Contributions totalling £2,438 were payable to the fund at the Balance Sheet date and are included in creditors.
Page 13
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WILD ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Related party transactions
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Included within other creditors due after more than one year is a balance of £528,767 due to the parent undertaking. The balance relates to an unsecured, interest free, denominated in Swiss francs, which is repayable on notice.
During the period, the Company purchased goods from the parent undertaking amounting to £1,041,994. At the year end, a balance of £749,634 was included within trade creditors in respect of these transactions.
During the period, the Company granted an equity-settled share-based award to a director of the Company. The award comprises 1,000 B1 Performance Shares with an aggregate fair value of £312,500 and is subject to future vesting conditions extending to 31 January 2030. A share-based payment expense of £102,170 has been recognised during the period, with a corresponding credit recognised within the share-based payment reserve. No shares had vested or been issued at 31 December 2025.
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Post balance sheet events
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Subsequent to the reporting date, the Company terminated the share-based payment scheme (Arrangement 1). An alternative remuneration arrangement has been introduced and is subject to finalisation. No adjustments have been made to the amounts recognised in these financial statements in respect of this matter.
At 31 December 2025 the Company's immediate and ultimate parent undertaking was Montres NORQAIN SA, a company incorporated in Switzerland.
The parent of the group in which the results of the Company are consolidated is NORQAIN SA. The consolidatd accounts are available to the public and may be obtained from:
Hauptstrasse 7,
Nidau (Biel-Bienne),
Switzerland, 2560.
The Company was subject to an audit for the period ended 31 December 2025. The audit report was issued with an unqualified opinion and signed on 14 September 2026 by Chris Gent BA FCA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.
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