Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Lisson Courtyard
50 Lisson Street
Marylebone
London
NW1 5DF

These financial statements were authorised for issue by the director on 27 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company incurred a loss of £34,577 during the year ended 31 January 2026 and had net current assets of £3,121,484 at the reporting date.

In assessing the appropriateness of the going concern basis, the director has considered the company's financial position, expected future trading performance, cash flow forecasts and the recoverability of amounts due from related parties.

Based on these assessments, the director considers that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 27 October 2026 was P Tengra, who signed for and on behalf of Mehta & Tengra.

.........................................

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the customer, the amount of revenue can be measured reliably, and it is probable that the economic benefits associated with the transaction will flow to the company.

Revenue is measured at the fair value of the consideration received or receivable and is stated net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax is recognised based on taxable profits for the year, using tax rates and laws enacted or substantively enacted at the reporting date. Adjustments relating to prior accounting periods are recognised in the period in which they are identified. Current tax is recognised in profit or loss unless it relates to items recognised in other comprehensive income or directly in equity.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 50% on written down value

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those asset have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
 

Foreign currencies

Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. Non- monetary assets and liabilities that are measured in terms of the historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

Long term monetary items are translated at the year end rate.

The assets and liabilities of foreign operations arising on consolidation are translated at foreign exchange rates ruling at the balance sheet date. The revenues and expenses of foreign operations are translated at an average rate for the period where this rate approximates to the foreign exchange rates ruling at the dates of the transactions.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Deferred tax

Deferred tax is recognised in respect of timing differences that have originated but not reversed at the reporting date. Deferred tax assets are recognised only to the extent that their recovery against future taxable profits or the reversal of deferred tax liabilities is probable. Deferred tax is measured using tax rates and laws enacted or substantively enacted at the reporting date and is not discounted.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2025 - 4).

4

Taxation

Tax charged/(credited) in the profit and loss account

Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

	2026 £	2025 £
Current taxation
UK corporation tax	-	1,401
UK corporation tax adjustment to prior periods	(1,401)	(10,682)
	(1,401)	(9,281)

5	Tangible assets

	Fixtures and fittings £	Fashion master software £	Total £
Cost or valuation
At 1 February 2025	376,344	38,420	414,764
At 31 January 2026	376,344	38,420	414,764
Depreciation
At 1 February 2025	376,246	38,420	414,666
Charge for the year	98	-	98
At 31 January 2026	376,344	38,420	414,764
Carrying amount
At 31 January 2026	-	-	-
At 31 January 2025	98	-	98

6

Stocks

	2026 £	2025 £
Finished goods and goods for resale	92,877	223,369

7

Debtors

Current	Note	2026 £	2025 £
Trade debtors		20,695	56,730
Amounts owed by related parties	10	2,967,820	2,862,279
Other debtors		75	75
Corporation tax recoverable		1,401	-
		2,989,991	2,919,084

The loans to related party are unsecured, interest-free and repayable on demand. The director regularly reviews the recoverability of these balances.

Touchstone Retail Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	6,984	18,495
Accruals and deferred income	8,250	8,250
VAT	7,323	27,329
Corporation tax	-	1,401
Social security and other taxes	6,319	6,197
Other creditors	740	410
	29,616	62,082