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REGISTERED NUMBER: 03956547 (England and Wales)















CORPORATEWEAR UK LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






CORPORATEWEAR UK LIMITED (REGISTERED NUMBER: 03956547)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORPORATEWEAR UK LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: P K Kenth





SECRETARY: Mrs S Kenth





REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 03956547 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

CORPORATEWEAR UK LIMITED (REGISTERED NUMBER: 03956547)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,317 86,419

CURRENT ASSETS
Stocks 46,460 44,735
Debtors 5 1,122,921 1,085,433
Cash at bank 767,666 740,786
1,937,047 1,870,954
CREDITORS
Amounts falling due within one year 6 435,820 376,936
NET CURRENT ASSETS 1,501,227 1,494,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,576,544

1,580,437

CREDITORS
Amounts falling due after more than one
year

7

(35,185

)

(40,741

)

PROVISIONS FOR LIABILITIES (8,493 ) (6,841 )
NET ASSETS 1,532,866 1,532,855

CAPITAL AND RESERVES
Called up share capital 12,500 12,500
Retained earnings 1,520,366 1,520,355
1,532,866 1,532,855

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

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

The director acknowledges his 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.

CORPORATEWEAR UK LIMITED (REGISTERED NUMBER: 03956547)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2023 and were signed by:





P K Kenth - Director


CORPORATEWEAR UK LIMITED (REGISTERED NUMBER: 03956547)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Corporatewear Uk 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

CORPORATEWEAR UK LIMITED (REGISTERED NUMBER: 03956547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 71,143 28,072 60,500 159,715
Additions 650 9,675 - 10,325
At 31 March 2023 71,793 37,747 60,500 170,040
DEPRECIATION
At 1 April 2022 43,339 28,066 1,891 73,296
Charge for year 4,935 1,367 15,125 21,427
At 31 March 2023 48,274 29,433 17,016 94,723
NET BOOK VALUE
At 31 March 2023 23,519 8,314 43,484 75,317
At 31 March 2022 27,804 6 58,609 86,419

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 327,994 237,894
Other debtors 786,531 834,531
Prepayments and accrued income 8,396 13,008
1,122,921 1,085,433

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 346,877 288,524
Social security and other taxes 55,394 54,651
Other creditors 1,128 2,340
Accrued expenses 26,865 25,865
435,820 376,936

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 35,185 40,741

8. RELATED PARTY DISCLOSURES

At 31st March 2023 the company was owed £834,931 (2022 - £817,931) by other related parties.