HOUSE OF FU LEEDS LIMITED


Directors	KOLLAKOWSKI, Ashley Oliver
	STEVENS, Simon James


Registered Address	15-19 The Headrow
	Leeds
	LS1 6PU


Registered Number	11381606 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on Land & buildings over the life of the lease, and for all other tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	10
	Plant and machinery	3
	Fixtures and fittings	5
	Office Equipment	2

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		0

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	360,807	178,653	125,482	46,670	711,612
Additions	2,410	1,979	-	-	4,389
At 31 March 26	363,217	180,632	125,482	46,670	716,001
Depreciation and impairment
At 01 April 25	129,546	127,287	85,791	46,188	388,812
Charge for year	36,201	36,028	25,096	482	97,807
At 31 March 26	165,747	163,315	110,887	46,670	486,619
Net book value
At 31 March 26	197,470	17,317	14,595	-	229,382
At 31 March 25	231,261	51,366	39,691	482	322,800


	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on Land & buildings over the life of the lease, and for all other tangible fixed assets as follows:

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	13,186	20,901
Amounts owed by group undertakings	-	992,819
Amounts owed by associates and joint ventures / participating interests	81,678	77,500
Other debtors	2,288	691
Prepayments and accrued income	58,904	28,514
Total	156,056	1,120,425

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	97,968	35,732
Bank borrowings and overdrafts	195,617	239,304
Amounts owed to related parties	402,725	566,415
Taxation and social security	69,837	311,535
Finance lease and HP contracts	-	5,194
Other creditors	11,043	14,671
Accrued liabilities and deferred income	93,826	64,516
Total	871,016	1,237,367


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	466,073	586,014
Total	466,073	586,014

7.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	-		5,194

8.	Related party transactions
	House of Fu Group Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to House of Fu Group Ltd at the balance sheet date was £nil (2025: £49,760). House of Fu Manchester Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by House of Fu Manchester Ltd at the balance sheet date was £nil (2025: £992,819). Project House Trading Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Project House Trading Ltd at the balance sheet date was £78,267 (2025: £77,500). Super Friendz Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Super Friendz Ltd at the balance sheet date was £2,167 (2025: £nil). World Island Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to World Island Ltd at the balance sheet date was £19,658 (2025: £19,658). Supamarkets Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Supamarkets Ltd at the balance sheet date was £1,244 (2025: £nil). During the year the company entered into the following transactions with its Directors: The Directors advanced interest-free loans to the company totalling £0 during the year. Repayments totalling £115,000 were made to the directors during the year. At the balance sheet date, the total amount owed to the Directors was £383,067 (2025: £496,997). The loans are interest-free, unsecured, and repayable on demand.

Related party transactions

House of Fu Group Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to House of Fu Group Ltd at the balance sheet date was £nil (2025: £49,760).

House of Fu Manchester Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by House of Fu Manchester Ltd at the balance sheet date was £nil (2025: £992,819).

Project House Trading Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Project House Trading Ltd at the balance sheet date was £78,267 (2025: £77,500).

Super Friendz Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Super Friendz Ltd at the balance sheet date was £2,167 (2025: £nil).

World Island Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed to World Island Ltd at the balance sheet date was £19,658 (2025: £19,658).

Supamarkets Ltd: The company is related to House of Fu Leeds Limited by virtue of common shareholders and Directors. The amount owed by Supamarkets Ltd at the balance sheet date was £1,244 (2025: £nil).

During the year the company entered into the following transactions with its Directors:

The Directors advanced interest-free loans to the company totalling £0 during the year. Repayments totalling £115,000 were made to the directors during the year.

At the balance sheet date, the total amount owed to the Directors was £383,067 (2025: £496,997).
The loans are interest-free, unsecured, and repayable on demand.

9.	Controlling party
	There is no ultimate controlling party as no single individual owns a majority shareholding in the company.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		229,382		322,800
			229,382		322,800
Current assets
Stocks		24,245		20,090
Debtors	4	189,121		1,429,556
Cash at bank and on hand		77,054		196,617
		290,420		1,646,263
Creditors amounts falling due within one year	5	(871,016)		(1,237,367)
Net current assets (liabilities)			(580,596)		408,896
Total assets less current liabilities			(351,214)		731,696
Creditors amounts falling due after one year	6		(466,073)		(586,014)
Net assets			(817,287)		145,682
Capital and reserves
Called up share capital			100		100
Profit and loss account			(817,387)		145,582
Shareholders' funds			(817,287)		145,682