TBCO Retail Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

TBCO Retail Ltd is a private company, limited by shares, incorporated in Scotland, the registered number is SC358594 . The registered office is 170b Great Junction Street, Edinburgh, Scotland, EH6 5LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 is recognised at the point that the customer takes delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets is a domain name. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Building	2% on cost
Plant and machinery	20% reducing balance method
Fixtures and fittings	10% on cost
Computer equipment	33% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

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

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TBCO Retail Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.7. Financial Instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classified as basic financial instruments and are recognised at transaction price less any impairment. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Other debtors and creditors are measured at amortised cost using the effective interest rate method.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax is only adjusted if the change in the timing difference is material.

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TBCO Retail Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.10. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

	2026	2025
Average number of employees, including directors, during the year	50	50

	50	50

4. Intangible Assets

	Other
	£
Cost
As at 1 February 2025	18,134

As at 31 January 2026	18,134

Amortisation
As at 1 February 2025	151
Provided during the period	1,814

As at 31 January 2026	1,965

Net Book Value
As at 31 January 2026	16,169

As at 1 February 2025	17,983

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TBCO Retail Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Tangible Assets

	Land & Property
	Building	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2025	325,493	86,677	38,161	124,354	574,685
Additions	-	10,033	12,151	-	22,184
Disposals	(325,493 )	-	-	-	(325,493 )

As at 31 January 2026	-	96,710	50,312	124,354	271,376

Depreciation
As at 1 February 2025	65,642	68,732	29,653	110,641	274,668
Provided during the period	6,509	5,428	2,723	11,571	26,231
Disposals	(72,151 )	-	-	-	(72,151 )

As at 31 January 2026	-	74,160	32,376	122,212	228,748

Net Book Value
As at 31 January 2026	-	22,550	17,936	2,142	42,628

As at 1 February 2025	259,851	17,945	8,508	13,713	300,017

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	234,436	63,225
Other debtors	248,271	153,441

	482,707	216,666
Due after more than one year
Amounts owed by group undertakings	820,516	1,302,682

	1,303,223	1,519,348

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TBCO Retail Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	125,907	119,425
Bank loans and overdrafts	100,551	-
Amounts owed to group undertakings	-	1,200
Other creditors	624,100	722,124
Taxation and social security	440,152	313,390

	1,290,710	1,156,139

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Other creditors	6,310	3,982

9. Secured Creditors

A fixed and floating charge over the undertaking and all property and asets, present and future, was created on 29 July 2021 by HSBC UK Bank PLC to secure all monies due or becoming due from the company.

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases is as follows:

	2026	2025
	£	£
Not later than one year	80,000	80,000
Later than one year and not later than five years	173,333	253,333

	253,333	333,333

11. Related Party Transactions

The amount due from a group undertaking at the year end was £820,516 (2025 : £1,302,682).

The amount due to a group undertaking at the year end was Nil (2025 : £1,200).

12. Ultimate Controlling Party

The company's ultimate controlling party is Eagle & Fox Holdings Ltd by virtue of ownership of 100% of the issued share capital in the company as of 30 July 2021. The registered office of Eagle & Fox Holdings Ltd is: 170b, Great Junction Street, Edinburgh, Scotland, EH6 5LJ.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		16,169		17,983
Tangible Assets	5		42,628		300,017

			58,797		318,000
CURRENT ASSETS
Stocks		1,065,154		678,615
Debtors	6	1,303,223		1,519,348
Cash at bank and in hand		452,896		206,543

		2,821,273		2,404,506
Creditors: Amounts Falling Due Within One Year	7	(1,290,710 )		(1,156,139 )

NET CURRENT ASSETS (LIABILITIES)			1,530,563		1,248,367

TOTAL ASSETS LESS CURRENT LIABILITIES			1,589,360		1,566,367

Creditors: Amounts Falling Due After More Than One Year	8		(6,310 )		(3,982 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(13,200 )		(13,200 )

NET ASSETS			1,569,850		1,549,185

CAPITAL AND RESERVES
Called up share capital			1,000		1,000
Profit and Loss Account			1,568,850		1,548,185

SHAREHOLDERS' FUNDS			1,569,850		1,549,185