PELHAM LEATHER GOODS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 2.2 in the financial statements, which indicates that the group incurred a profit for the year ended 31 January 2025 of £216,083 and as of that date, the group's current liabilities exceeded its total assets by £1,823,081(2024 - £2,319,164) and the company's current liabilities exceeded its total assets by £1,627,718(2024 - £1,515,677). As stated in Note 2.2, these events or conditions, along with the other matters as set forth in Note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the group's or the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

1. PELHAM LEATHER GOODS LIMITED 1990-04-06 → present
2. FILECHIEF LIMITED 1990-03-08 → 1990-04-06

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Rawlinson & Hunter Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 2.2 in the financial statements, which indicates that the group incurred a profit for the year ended 31 January 2025 of £216,083 and as of that date, the group's current liabilities exceeded its total assets by £1,823,081(2024 - £2,319,164) and the company's current liabilities exceeded its total assets by £1,627,718(2024 - £1,515,677). As stated in Note 2.2, these events or conditions, along with the other matters as set forth in Note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the group's or the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. PELHAM LEATHER GOODS LIMITED · parent
   1. Case London Limited 100% · England and Wales · Retail of travel, luggage and other leather accessories.
   2. Switchflops Limited 100% · England and Wales · Dormant
   3. Pelham MTO Limited 100% · England and Wales · Dormant
   4. Delsey Luggage Limited 100% · England and Wales · Dormant
   5. Revelation Piccadilly Limited 100% · England and Wales · Dormant

Significant events

• “Ted Baker UK went into administration during 2024, with all their physical stores in the UK closing. This lead to widespread discounting of Ted products online and reduced our margins.”
• “Our airport stores continued to trade well, and whilst our most profitable stores are continuing the two Gatwick stores cosed at the end of March 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -22%

  £23,675,516 → £18,461,504

• Cash

  -72.1%

  £107,508 → £30,022

• Net assets

  +8.6%

  -£2,499,164 → -£2,283,081

• Employees

  -8.5%

  129 → 118

• Operating profit

  -59.1%

  £1,425,994 → £583,909

• Profit before tax

  -77.2%

  £949,628 → £216,083

• Wages

  -5%

  £3,832,850 → £3,639,417

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers