REGISTERED NUMBER: 00260445 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

FOR

SELBYS (HOLLOWAY) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B H Dreesmann

R M Clacher

SECRETARY:

T James

REGISTERED OFFICE:

472-488 Brixton Road

Brixton

London

SW9 8EH

REGISTERED NUMBER:

00260445 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Green LLB FCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

BANKERS:

Barclays Bank plc

Clapham Common Group

83 Wandsworth High Street

London

SW18 2PR

FIXED ASSETS

Intangible assets

5

19,829

18,251

Tangible assets

6

238,116

331,053

257,945

349,304

CURRENT ASSETS

Stocks

1,450,491

1,519,078

Debtors

7

56,862

53,975

Cash at bank

243,497

178,541

1,750,850

1,751,594

CREDITORS

Amounts falling due within one year

8

1,811,210

1,485,268

NET CURRENT (LIABILITIES)/ASSETS

(60,360

)

266,326

TOTAL ASSETS LESS CURRENT LIABILITIES

197,585

615,630

PROVISIONS FOR LIABILITIES

21,417

39,969

NET ASSETS

176,168

575,661

CAPITAL AND RESERVES

Called up share capital

45,000

45,000

Share premium account

15,300

15,300

Retained earnings

115,868

515,361

SHAREHOLDERS' FUNDS

176,168

575,661

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

R M Clacher - Director

1.	STATUTORY INFORMATION

Selbys (Holloway) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis despite the net current liability position. The Company is financially supported, as required, by fellow group companies.

In consequence, the Directors have prepared these accounts on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Sales of goods are recognised on sale to the customer, which is considered to be the point of sale or delivery and when the significant risks and rewards of the goods have been passed to the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software costs are amortised over a period of 5 years, commencing from the month the software is brought into use.

Tangible fixed assets

Tangible Fixed Assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of Tangible Fixed Assets, less their estimated residual value, over their estimated useful lives at the following rates:

Fixtures & Fittings

- 15% - 16.67% on cost

Equipment

- 15% - 16.67% on cost

Computer Equipment

- 33% on cost

Fixtures and Fittings over 15 years old and Equipment over 10 years old are eliminated from fixed assets, except in instances where they are known to be still in use.

Items costing less than £500 are not capitalised but written off to the Profit and Loss Account as incurred.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently carried at this value less any provision for impairment.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet represent cash at bank and in hand.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss under operating expenses.

The carrying value of all short-term financial assets and liabilities are measured at amortised cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements and a group personal pension plan.

(i) Short Term Benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Group Personal Pension Plan

The company operates a group personal pension plan for its employees. This 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 when they are due. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 75 (2025 - 79 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 2 February 2025

18,251

Additions

26,181

At 31 January 2026

44,432

AMORTISATION

Impairments

24,603

At 31 January 2026

24,603

NET BOOK VALUE

At 31 January 2026

19,829

At 1 February 2025

18,251

6.	TANGIBLE FIXED ASSETS

Fixtures

Computer

Equipment

& fittings

equipment

Totals

£

£

£

£

COST

At 2 February 2025

191,221

650,959

166,633

1,008,813

Additions

-

3,621

2,727

6,348

Disposals

(730

)

-

(29,824

)

(30,554

)

At 31 January 2026

190,491

654,580

139,536

984,607

DEPRECIATION

At 2 February 2025

65,351

459,207

153,202

677,760

Charge for period

30,620

59,955

8,710

99,285

Eliminated on disposal

(730

)

-

(29,824

)

(30,554

)

At 31 January 2026

95,241

519,162

132,088

746,491

NET BOOK VALUE

At 31 January 2026

95,250

135,418

7,448

238,116

At 1 February 2025

125,870

191,752

13,431

331,053

The disposals arise primarily from the elimination of:

Fixtures and fittings

- over 15 years old

Computers and Equipment

- over 10 years old

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

19,916

12,400

Prepayments

36,946

41,575

56,862

53,975

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

218,126

294,187

Amount due to group companies

1,279,278

962,733

Accrued expenses

313,806

228,348

1,811,210

1,485,268

9.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

449

6,323

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

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)

for and on behalf of THP Limited

11.	CONTINGENT LIABILITIES

The Company had no contingent liabilities at the balance sheet date (2025 - £Nil) other than in respect of a cross guarantee in the form of a charge over the Company's assets, to the favour of the Group's principal Bankers, covering all borrowing and overdrafts by the group from those bankers. At the period end there were no net group borrowings from the principal Bankers.

12.	ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Morleys Department Stores Limited. The ultimate parent company is Morleys Stores Limited, a company incorporated in England & Wales. Details of the ultimate controlling party can be found in the accounts of Morleys Stores Limited.

A copy of the group consolidated accounts may be obtained from Companies House.