REGISTERED NUMBER: 02488862 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BRIGADE CLOTHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M L Lea

Mr D J Bassi

Mr L J Goulder

SECRETARY:

Mr L J Goulder

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

02488862 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

Chartered Accountants

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

4

31,430

40,410

Tangible assets

5

85,576

96,898

117,006

137,308

CURRENT ASSETS

Stocks

6

1,038,927

730,185

Debtors

7

1,010,987

1,013,726

Cash at bank and in hand

215

265,743

2,050,129

2,009,654

CREDITORS

Amounts falling due within one year

8

369,529

307,083

NET CURRENT ASSETS

1,680,600

1,702,571

TOTAL ASSETS LESS CURRENT LIABILITIES

1,797,606

1,839,879

CREDITORS

Amounts falling due after more than one year

9

(31,988

)

(42,639

)

PROVISIONS FOR LIABILITIES

12

(12,824

)

(12,742

)

NET ASSETS

1,752,794

1,784,498

CAPITAL AND RESERVES

Called up share capital

13

100,000

100,000

Retained earnings

1,652,794

1,684,498

SHAREHOLDERS' FUNDS

1,752,794

1,784,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:

Mrs M L Lea - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is considered to be when goods are despatched to customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on cost and Equal instalments over period of lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Office furniture

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 37 ) .

4.	INTANGIBLE FIXED ASSETS

Website

development

£

COST

At 1 February 2022

78,347

Additions

25,703

At 31 January 2023

104,050

AMORTISATION

At 1 February 2022

37,937

Amortisation for year

34,683

At 31 January 2023

72,620

NET BOOK VALUE

At 31 January 2023

31,430

At 31 January 2022

40,410

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 February 2022

12,913

553,397

73,704

Additions

-

31,173

55

Disposals

-

-

-

At 31 January 2023

12,913

584,570

73,759

DEPRECIATION

At 1 February 2022

12,913

475,146

65,285

Charge for year

-

36,630

2,706

Eliminated on disposal

-

-

-

At 31 January 2023

12,913

511,776

67,991

NET BOOK VALUE

At 31 January 2023

-

72,794

5,768

At 31 January 2022

-

78,251

8,419

Motor

Office

vehicles

furniture

Totals

£

£

£

COST

At 1 February 2022

45,867

18,667

704,548

Additions

65,000

497

96,725

Disposals

(70,500

)

-

(70,500

)

At 31 January 2023

40,367

19,164

730,773

DEPRECIATION

At 1 February 2022

37,299

17,007

607,650

Charge for year

11,149

687

51,172

Eliminated on disposal

(13,625

)

-

(13,625

)

At 31 January 2023

34,823

17,694

645,197

NET BOOK VALUE

At 31 January 2023

5,544

1,470

85,576

At 31 January 2022

8,568

1,660

96,898

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 February 2022

164,000

Additions

21,500

Transfer to ownership

(134,000

)

At 31 January 2023

51,500

DEPRECIATION

At 1 February 2022

127,417

Charge for year

20,875

Transfer to ownership

(126,667

)

At 31 January 2023

21,625

NET BOOK VALUE

At 31 January 2023

29,875

At 31 January 2022

36,583

6.

STOCKS

2023

2022

£

£

Finished goods

1,038,927

730,185

7.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

52,464

67,014

Other debtors

57,963

60,041

110,427

127,055

Amounts falling due after more than one year:

Amounts owed by group undertakings

900,560

886,671

Aggregate amounts

1,010,987

1,013,726

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

151,319

10,000

Hire purchase contracts (see note 10)

14,089

18,563

Trade creditors

133,601

157,942

Taxation and social security

34,588

70,204

Other creditors

35,932

50,374

369,529

307,083

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

25,000

35,000

Hire purchase contracts (see note 10)

6,988

7,639

31,988

42,639

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Gross obligations repayable:

Within one year

15,448

20,168

Between one and five years

7,753

8,291

23,201

28,459

Finance charges repayable:

Within one year

1,359

1,605

Between one and five years

765

652

2,124

2,257

Net obligations repayable:

Within one year

14,089

18,563

Between one and five years

6,988

7,639

21,077

26,202

Non-cancellable

operating leases

2023

2022

£

£

Within one year

47,395

15,125

Between one and five years

164,331

-

211,726

15,125

11.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

21,077

26,202

12.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

12,824

12,742

Deferred

tax

£

Balance at 1 February 2022

12,742

Accelerated capital allowances

82

Balance at 31 January 2023

12,824

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

51,000

Ordinary Shares

£1

51,000

51,000

49,000

Ordinary A Shares

£1

49,000

49,000

100,000

100,000

Each Ordinary share has equal voting rights in all respects. Each share is entitled pari passu to dividend payments or any other distribution.

Each Ordinary A share has equal voting rights; rights to participate in the distribution of profits of the company; and participate in the distribution of capital including on a winding up, but cannot be redeemed.