F.A.B RETAIL LIMITED 31/01/2026 iXBRL

Company registration number: 07652556

F.A.B RETAIL LIMITED

Financial statements

31 January 2026

Pearlman Rose

Chartered Accountants

Suite 1, First Floor

Jack Dash House

2 Lawn House Close

London, E14 9YQ

F.A.B RETAIL LIMITED

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

F.A.B RETAIL LIMITED

Directors and other information


	Directors	Mr Ansar Hussain
		Mr Arfan Hussain
		Mr Fizhan Hussain
		Mr Tabrez Hussain


	Company number	07652556


	Registered office	238-242 Uxbridge Road
		Shepherds Bush
		London
		W12 7JD


	Auditor	Pearlman Rose
		Suite 1, First Floor
		Jack Dash House
		2 Lawn House Close
		London
		E14 9YQ


	Accountants	AS Associates
		11A Empire Parade
		Empire Way, Wembley
		Middlesex
		HA9 0RQ

F.A.B RETAIL LIMITED

Strategic report

Year ended 31 January 2026

The directors presents their strategic report for the year ended 31 January 2026.

Principal activity

The principal activity of F.A.B Retail Ltd (the “Company”) is the operation and management of retail grocery stores in the United Kingdom under the Nisa Local brand. There have been no significant changes in the Company’s principal activities during the year. The Directors are not aware, at the date of this report, of any likely changes in the Company’s activities in the forthcoming year.

Business review

Demand for the Company’s products has remained strong throughout the year, reflecting consistent consumer demand and the Company’s focus on local convenience retailing. Effective stock management and accurate forecast purchase ordering have been critical in enabling the business to operate efficiently and meet customer expectations.The Directors believe that the key performance indicators (“KPIs”) of the Company are sales and gross profit margin: 2025 2024Turnover £29.9m £29.7mGross profit £8.7m £8.0mGross profit margin 29.14% 27.09%Turnover increased by £0.24m (0.82%) to £29.9m. The gross profit margin increased by 2.05% to 29.14% (2025: 27.09%). The improved margin was due to a combination of a change in product mix, reduced wastage, and enhanced stock management. Overall performance is in line with the Directors’ expectations.

Future outlook

The UK economy continues to face challenges due to wage and cost inflation. However, the Company is in a strong position to withstand these pressures and to continue to gain share within its respective market. Effective cost control is being actively managed, and the Directors believe the Company will remain profitable as shop numbers increase further. The Company is also part of the LA Group Holdings Ltd group of companies, providing additional assurance and support for its growth prospects.

Despite competitive trading conditions and price sensitivity, the Directors remain confident that the Company will continue to provide maximum support to its customers by delivering the best prices, value, and service.

Financial instruments

The Company does not have excessive exposure to risks in respect of price, credit, liquidity, or cash flow, other than normal inflationary risks. The Company’s main financial instruments comprise bank balances and trade creditors, which provide finance for its day-to-day operations. All of the Company’s financial instruments are denominated in its functional currency, sterling. The Company does not apply hedge accounting in respect of its financial instruments.

Directors' statutory responsibilities

The Directors are aware of the duties and responsibilities placed upon them by the Companies Acts and therefore they carry out their duties in a way that they consider would be most likely to promote the success of the Company for the benefit of its members, and in doing so have regard to a range of matters when making decisions for the short and long term.

They adhere to the overall group policies laid out by the members and to those relating specifically to the Company. Their main responsibilities are:-

1. Setting the values used to guide the affairs of the Company. This includes the Company's commitment to achieving its health and safety goals and the Company's adherence to the highest ethical standards in all its operations worldwide.

2. Integrating environmental improvement into business plans and strategies and seeking to plant sustainability into the Company's business processes.

3. Overseeing the Company's compliance with its statutory and regulatory obligations and ensuring that systems and processes are in place to enable these obligations to be met.

4. Setting the strategy and targets of the Company.

5. Overseeing the Company's compliance with financial reporting and disclosure obligations.

6. Overseeing the risk management of the Company.

7. Ensuring the effective corporate governance of the Company.

Responsibilities during the year

During the year, the Directors established a plan of tasks for the forthcoming year, which includes reviewing the Company’s strategy and objectives, assessing their implementation, and monitoring the Company’s financial performance.

The accounts function is responsible for providing the Directors with accurate, timely, and relevant information regarding the operations and financial performance of the Company.

Risk management and internal control

The Directors acknowledge their responsibility for the Company’s system of internal control and for reviewing its ongoing effectiveness. The system is designed to manage potential operational and financial risks.

The Company implements internal controls that are appropriate to its business activities and geographical presence. Clearly defined lines of responsibility and limits of delegated authority are established, and comprehensive procedures are in place for the appraisal, approval, monitoring, and review of capital expenditure.

Principle risks and uncertainties

The key risks to the business relate primarily to competition, as new convenience stores continue to enter the sector. The Directors actively monitor local competitors to ensure the Company offers superior pricing, choice, and quality.

Credit risk is minimal, as customers make payments at the point of sale. Supply chain disruption represents another significant risk; to mitigate this, the Company has developed strong relationships with key suppliers and maintains regular communication with them.

Despite robust security systems, disaster recovery, business continuity, and crisis management plans, unforeseen events such as cyber-attacks or natural disasters could potentially disrupt operations and services. Price pressures in the market are managed by enhancing operational efficiency across the Company’s services.

The Board remains acutely aware of these risks and ensures that costs are continually adjusted to meet evolving customer demand.

This report was approved by the board of directors on .................. and signed on behalf of the board by:

Mr Ansar Hussain

Director

F.A.B RETAIL LIMITED

Directors report

Year ended 31 January 2026

The directors present their report and the financial statements of the company for the year ended 31 January 2026.

Directors

The directors who served the company during the year were as follows:

Mr Ansar Hussain

Mr Arfan Hussain

Mr Fizhan Hussain

Mr Tabrez Hussain

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 15 September 2026 and signed on behalf of the board by:

Mr Ansar Hussain

Director

F.A.B RETAIL LIMITED

Independent auditor's report to the members of

F.A.B RETAIL LIMITED

Year ended 31 January 2026

Opinion

We have audited the financial statements of F.A.B RETAIL LIMITED (the 'company') for the year ended 31 January 2026 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and the returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: enquiry of management about the company's policies, procedures and related controls regarding compliance with laws and regulations and if there are any known instances of non-compliance; A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mohammad Jilani (Senior Statutory Auditor)

For and on behalf of

Pearlman Rose

Chartered Accountants and Senior Statutory Auditor

Suite 1, First Floor

Jack Dash House

2 Lawn House Close

London

E14 9YQ

15 September 2026

F.A.B RETAIL LIMITED

Statement of comprehensive income

Year ended 31 January 2026

		2026	2025
	Note	£	£


Turnover	4	29,963,813	29,720,017
Cost of sales		( 21,233,286)	( 21,668,775)
		_______	_______
Gross profit		8,730,527	8,051,242

Administrative expenses		( 7,947,519)	( 7,650,675)
		_______	_______
Operating profit	5	783,008	400,567

Income from other fixed asset investments	8	19,973	5,200
Other interest receivable and similar income	9	10,188	8,526
Amounts written off investments	10	-	3,298
Interest payable and similar expenses	11	( 30,095)	( 20,193)
		_______	_______
Profit before taxation		783,074	397,398

Tax on profit	12	( 225,172)	( 98,065)
		_______	_______
Profit for the financial year and total comprehensive income		557,902	299,333
		_______	_______

All the activities of the company are from continuing operations.

F.A.B RETAIL LIMITED

Statement of financial position

31 January 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Tangible assets	14	405,039		393,303
Investments	15	383,017		277,410
		_______		_______
			788,056		670,713

Current assets
Stocks	16	1,191,091		1,083,044
Debtors	17	459,240		342,540
Cash at bank and in hand		1,334,591		717,332
		_______		_______
		2,984,922		2,142,916
Creditors: amounts falling due
within one year	18	( 1,981,844)		( 1,610,637)
		_______		_______
Net current assets			1,003,078		532,279
			_______		_______
Total assets less current liabilities			1,791,134		1,202,992

Creditors: amounts falling due
after more than one year	19		( 505,977)		( 252,754)

Provisions for liabilities	21		( 26,342)		( 4,773)

			_______		_______
Net assets			1,258,815		945,465
			_______		_______

Capital and reserves
Called up share capital	24		100		100
Profit and loss account			1,258,715		945,365
			_______		_______
Shareholders funds			1,258,815		945,465
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 15 September 2026 , and are signed on behalf of the board by:

Mr Ansar Hussain

Director

Company registration number: 07652556

F.A.B RETAIL LIMITED

Statement of changes in equity

Year ended 31 January 2026

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 February 2024	100	1,227,921	1,228,021

Profit for the year		299,333	299,333
	_______	_______	_______
Total comprehensive income for the year	-	299,333	299,333

Dividends paid and payable		( 581,889)	( 581,889)
	_______	_______	_______
Total investments by and distributions to owners	-	( 581,889)	( 581,889)

	_______	_______	_______
At 31 January 2025 and 1 February 2025	100	945,365	945,465

Profit for the year		557,902	557,902
	_______	_______	_______
Total comprehensive income for the year	-	557,902	557,902

Dividends paid and payable		( 244,552)	( 244,552)
	_______	_______	_______
Total investments by and distributions to owners	-	( 244,552)	( 244,552)

	_______	_______	_______
At 31 January 2026	100	1,258,715	1,258,815
	_______	_______	_______

F.A.B RETAIL LIMITED

Statement of cash flows

Year ended 31 January 2026

	2026	2025
	£	£

Cash flows from operating activities
Profit for the financial year	557,902	299,333

Adjustments for:
Depreciation of tangible assets	101,328	86,458
Amounts written off investments	-	( 3,298)
Income from other fixed asset investments	( 19,973)	( 5,200)
Other interest receivable and similar income	( 10,188)	( 8,526)
Interest payable and similar expenses	30,095	20,193
Tax on profit	225,172	98,065

Changes in:
Stocks	( 108,047)	129,232
Trade and other debtors	( 116,700)	234,279
Trade and other creditors	183,754	256,373
	_______	_______
Cash generated from operations	843,343	1,106,909

Interest paid	( 30,095)	( 20,193)
Interest received	10,188	8,526
Tax paid	( 98,183)	( 225,419)
	_______	_______
Net cash from operating activities	725,253	869,823
	_______	_______

Cash flows from investing activities
Purchase of tangible assets	( 113,064)	( 239,701)
Purchase of other investments	( 120,607)	( 43,384)
Proceeds from sale of other investments	28,263	-
Dividends received	6,710	5,200
	_______	_______
Net cash used in investing activities	( 198,698)	( 277,885)
	_______	_______

Cash flows from financing activities
Proceeds from borrowings	432,540	( 96,666)
Payment of finance lease liabilities	( 97,284)	160,014
Equity dividends paid	( 244,552)	( 581,889)
	_______	_______
Net cash from/(used in) financing activities	90,704	( 518,541)
	_______	_______

Net increase/(decrease) in cash and cash equivalents	617,259	73,397
Cash and cash equivalents at beginning of year	717,332	643,935
	_______	_______
Cash and cash equivalents at end of year	1,334,591	717,332
	_______	_______

F.A.B RETAIL LIMITED

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 238-242 Uxbridge Road, Shepherds Bush, London, W12 7JD.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

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

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); the amount of revenue can be measured reliably; 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Computer equipment	-	25 %	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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit is stated after charging/(crediting):

	2026	2025
	£	£
Depreciation of tangible assets	101,328	86,458
Fees payable for the audit of the financial statements	10,000	10,000
	_______	_______

6. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2026	2025
Administrative staff	14	13
Sales	160	193
	_______	_______
	174	206
	_______	_______

The aggregate payroll costs incurred during the year were:

	2026	2025
	£	£
Wages and salaries	3,741,339	3,621,885
Social security costs	403,135	281,525
Other pension costs	140,310	218,674
	_______	_______
	4,284,784	4,122,084
	_______	_______

7. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2026	2025
	£	£
Remuneration	48,910	49,400
Company contributions to pension schemes in respect of qualifying services	120,000	200,000
	_______	_______
	168,910	249,400
	_______	_______

8. Income from other fixed asset investments

	2026	2025
	£	£
Dividends from other investments	6,710	5,200
Gain/loss on disposal of other FA investments	13,263	(-)
	_______	_______
	19,973	5,200
	_______	_______

9. Other interest receivable and similar income

	2026	2025
	£	£
Bank deposits	10,188	8,526
	_______	_______

10. Amounts written off investments

	2026	2025
	£	£
Reversal of impairment of other fixed asset investments	-	( 3,298)
	_______	_______

11. Interest payable and similar expenses

		2026	2025
		£	£
Other loans made to the company:
	Finance leases and hire purchase contracts	15,912	12,297
Other interest payable and similar expenses		14,183	7,896
		_______	_______
		30,095	20,193
		_______	_______

12. Tax on profit

Major components of tax expense

	2026	2025
	£	£
Current tax:
UK current tax expense	203,603	98,183
	_______	_______

Deferred tax:
Origination and reversal of timing differences	21,569	( 118)
	_______	_______
Tax on profit	225,172	98,065
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2025: lower than) the standard rate of corporation tax in the UK of 25.00 % (2025: 25.00%).

	2026	2025
	£	£
Profit before taxation	783,074	397,398
	_______	_______

Profit multiplied by rate of tax	195,769	99,350
Effect of expenses not deductible for tax purposes	9,997	( 20,653)
Effect of capital allowances and depreciation	( 3,613)	20,786
Effect of revenue exempt from tax	( 1,678)	( 1,300)
Deferred tax	21,569	( 118)
Gain on disposal of investment	3,128	-
	_______	_______
Tax on profit	225,172	98,065
	_______	_______

13. Dividends

Equity dividends

	2026	2025
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	244,552	581,889
	_______	_______

14. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Computer equipment	Total
	£	£	£	£
Cost
At 1 February 2025	587,079	22,465	12,001	621,545
Additions	-	113,064	-	113,064
	_______	_______	_______	_______
At 31 January 2026	587,079	135,529	12,001	734,609
	_______	_______	_______	_______
Depreciation
At 1 February 2025	202,846	14,477	10,919	228,242
Charge for the year	76,847	24,210	271	101,328
	_______	_______	_______	_______
At 31 January 2026	279,693	38,687	11,190	329,570
	_______	_______	_______	_______
Carrying amount
At 31 January 2026	307,386	96,842	811	405,039
	_______	_______	_______	_______
At 31 January 2025	384,233	7,988	1,082	393,303
	_______	_______	_______	_______

Obligations under finance leases

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:


		Plant and machinery
		£
	At 31 January 2026	287,291
		_______
	At 31 January 2025	359,114
		_______

15. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 February 2025	277,410	277,410
Additions	120,607	120,607
Disposals	( 15,000)	( 15,000)
	_______	_______
At 31 January 2026	383,017	383,017
	_______	_______
Impairment
At 1 February 2025 and 31 January 2026	-	-
	_______	_______
Carrying amount
At 31 January 2026	383,017	383,017
	_______	_______
At 31 January 2025	277,410	277,410
	_______	_______

Listed investments


	£	£
		At 31 January 2026
Carrying value	382,867	382,867
	_______	_______

		At 31 January 2025
Carrying value	277,260	277,260
	_______	_______

16. Stocks

	2026	2025
	£	£
Finished goods and goods for resale	1,191,091	1,083,044
	_______	_______

17. Debtors

	2026	2025
	£	£
Trade debtors	184,125	124,941
Prepayments and accrued income	22,066	85,338
Other debtors	253,049	132,261
	_______	_______
	459,240	342,540
	_______	_______

18. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	136,033	54,000
Trade creditors	1,209,784	1,068,053
Accruals and deferred income	10,000	10,000
Corporation tax	203,603	98,183
Social security and other taxes	87,500	59,041
Obligations under finance leases	101,046	101,046
Director loan accounts	171,008	171,008
Other creditors	62,870	49,306
	_______	_______
	1,981,844	1,610,637
	_______	_______

19. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	363,174	12,667
Obligations under finance leases	142,803	240,087
	_______	_______
	505,977	252,754
	_______	_______

The company has the following bank loans:

Barclays Bank

A loan of £350,000, repayable by equal annual instalments over the period to 2026. The loan bears interest at a fixed rate of 2.50% per annum and is unsecured. Lloyd’s Bank

On 26 Septe mber 2025, the company entered into a business loan agreement with Lloyd’s Bank for a facility of up to £500,000. The loan bears interest at a variable rate of Bank of England Base Rate plus 1.99% per annum and is repayable by 60 monthly instalments. The loan is secured by an unlimited debenture granted by the company in favour of Lloyd’s Bank.

20. Obligations under finance leases

Company lessee

The total future minimum lease payments under finance lease agreements are as follows:

	2026	2025
	£	£
Not later than 1 year	101,046	101,046
Later than 1 year and not later than 5 years	142,803	240,087
	_______	_______
	243,849	341,133
	_______	_______
Present value of minimum lease payments	243,849	341,133
	_______	_______

21. Provisions

	Deferred tax (note 22)	Total
	£	£
At 1 February 2025	4,773	4,773
Charges against provisions	21,569	21,569
	_______	_______
At 31 January 2026	26,342	26,342
	_______	_______

22. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in provisions (note 21)	26,342	4,773
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
	£	£
Accelerated capital allowances	26,342	4,773
	_______	_______

23. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 140,310 (2025: £ 218,674 ).

24. Called up share capital

Issued, called up and fully paid

	2026		2025
	No	£	No	£
Ordinary shares A shares of £ 1.00 each	75	75	75	75
Ordinary shares B shares of £ 1.00 each	5	5	5	5
Ordinary shares C shares of £ 1.00 each	5	5	5	5
Ordinary shares D shares of £ 1.00 each	5	5	5	5
Ordinary shares E shares of £ 1.00 each	5	5	5	5
Ordinary shares F shares of £ 1.00 each	5	5	5	5
	_______	_______	_______	_______
	100	100	100	100
	_______	_______	_______	_______

25. Analysis of changes in net debt

	At 1 February 2025	Cash flows	At 31 January 2026
	£	£	£
Cash and cash equivalents	717,332	617,259	1,334,591
Debt due within one year	(326,054)	(82,033)	(408,087)
Debt due after one year	(252,754)	(253,223)	(505,977)
	_______	_______	_______
	138,524	282,003	420,527
	_______	_______	_______

26. Directors advances, credits and guarantees

	Balance brought forward and o/standing	Balance brought forward and o/standing
	2026	2025
	£	£
Mr Ansar Hussain	171,008	171,008
	_______	_______

a) Barclays Bank debenture on its standard form dated 18 May 2020 creating a fixed and floating charge overall the assets of the company.b) Two limited guarantees given by the Secretary of State for Business, Energy and Industrial Strategy both for £280,000 dated 21 May 2020.c) Limited guarantee given by the Director for £60,000 dated 18 December 2014.d) The company has a fixed charge with Lloyds bank dated 15 June 2022 relating to an Omnibus guarantee and set-off agreement over the parent company's liabilities.

27. Related party transactions

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

	Transaction value		Balance owed by/(owed to)
	2026	2025	2026	2025
	£	£	£	£
Our Retail Ltd	45,000	( 2,000)	95,000	50,000
	_______	_______	_______	_______

During the year, the Company paid net management fees of £2,392,000 (2025: £2,372,500) to a related undertaking in respect of the use of assets and services provided by that undertaking. The transactions were conducted at normal commercial rates. The amount owed to the related undertaking at the year end was £119,600 (2025: £119,600).During the year, the following transactions occurred with the directors: £Amounts owed by the Company at 1 February 2025 171,008 Dividend payable 244,552 Dividend paid (244,552)Amounts owed by the Company at 31 January 2026 171,008Loans to related undertakingsDuring the year, the following loan was made to a related undertaking:Our Retail LtdThe balance outstanding at 1 February 2025 was £50,000. The loan is interest-free. During the year, the Company transferred a further £45,000 to Our Retail Ltd. The balance outstanding at 31 January 2026 was therefore £95,000.

28. Controlling party

The company's parent undertaking is LA Group Holdings Ltd, a company incorporated in England & Wales.