FARFETCH PLATFORM SOLUTIONS LIMITED

• ⚠

  Material uncertainty over going concern

  The directors intend to wind down the operations due to a renewed focus on Farfetch.com. This is anticipated to complete within 12 months from the date of approval of these financial statements and as such, the directors have prepared the financial statements on a basis other than going concern.

1. FARFETCH PLATFORM SOLUTIONS LIMITED 2021-01-28 → present
2. FARFETCH BLACK & WHITE LIMITED 2018-01-03 → 2021-01-28
3. FARFETCH INTERNATIONAL LIMITED 2017-10-17 → 2018-01-03
4. FARFETCH VENTURES LIMITED 2017-10-03 → 2017-10-17

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 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors intend to wind down the operations due to a renewed focus on Farfetch.com. This is anticipated to complete within 12 months from the date of approval of these financial statements and as such, the directors have prepared the financial statements on a basis other than going concern.”

Significant events

• “On 30 January 2024, the Company was acquired by Surpique Acquisition Limited, a subsidiary of Coupang, Inc., through an English-law pre-pack administration of the Company's indirect parent company (at the time of the transaction) Farfetch Holdings plc.”
• “Following the year end, due to a renewed focus on Farfetch.com, the directors plan to wind down the operations of Farfetch Platform Solutions Limited. The process of winding down the Company is currently ongoing, however this is anticipated to complete within 12 months from the date of approval of these financial statements.”
• “Subsequent to the year end it has been brought to the attention of the directors that the Company has claimed UK tax losses from other UK Group members (in line with the Corporation Tax Act 2010) without consideration. Further, over the time period the distributions were made, the other UK Group members did not have sufficient distributable reserves to support the distributions. In light of this, in the financial year ending 31 December 2025, an aggregate payable of £1,146,546 will be recognised as due to Browns (South Molton Street) Limited and Farfetch China Ltd collectively. This reflects the assessment of the fair market value of the asset distributed to the Company by the other UK Group members listed above from the year ending 31 December 2021 to the year ending 31 December 2024, as the Company has agreed to fully compensate for the distribution. It is expected that the payables will be settled using cash received from funding via a share subscription. This is a non-adjusting post balance sheet event.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -39.4%

  £102,427,000 → £62,088,000

• Cash

  —

  Not reported

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Operating profit

  -132.5%

  £16,319,000 → -£5,308,000

• Profit before tax

  -132.3%

  £15,612,000 → -£5,041,000

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