Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseRetail sale of clothing in specialised stores2022-04-01false2418trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05262840 2022-04-01 2023-03-31 05262840 2021-04-01 2022-03-31 05262840 2023-03-31 05262840 2022-03-31 05262840 c:Director2 2022-04-01 2023-03-31 05262840 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 05262840 d:Buildings d:ShortLeaseholdAssets 2023-03-31 05262840 d:Buildings d:ShortLeaseholdAssets 2022-03-31 05262840 d:PlantMachinery 2022-04-01 2023-03-31 05262840 d:PlantMachinery 2023-03-31 05262840 d:PlantMachinery 2022-03-31 05262840 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05262840 d:MotorVehicles 2022-04-01 2023-03-31 05262840 d:MotorVehicles 2023-03-31 05262840 d:MotorVehicles 2022-03-31 05262840 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05262840 d:FurnitureFittings 2022-04-01 2023-03-31 05262840 d:FurnitureFittings 2023-03-31 05262840 d:FurnitureFittings 2022-03-31 05262840 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05262840 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05262840 d:CurrentFinancialInstruments 2023-03-31 05262840 d:CurrentFinancialInstruments 2022-03-31 05262840 d:Non-currentFinancialInstruments 2023-03-31 05262840 d:Non-currentFinancialInstruments 2022-03-31 05262840 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05262840 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05262840 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05262840 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05262840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05262840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 05262840 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05262840 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 05262840 d:ShareCapital 2023-03-31 05262840 d:ShareCapital 2022-03-31 05262840 d:RetainedEarningsAccumulatedLosses 2023-03-31 05262840 d:RetainedEarningsAccumulatedLosses 2022-03-31 05262840 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05262840 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 05262840 c:FRS102 2022-04-01 2023-03-31 05262840 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05262840 c:FullAccounts 2022-04-01 2023-03-31 05262840 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05262840 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 05262840









THE DRESSING ROOM RETAIL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THE DRESSING ROOM RETAIL LIMITED
REGISTERED NUMBER: 05262840

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
37,794
46,181

  
37,794
46,181

Current assets
  

Stocks
  
669,203
500,890

Debtors
 6 
1,188,343
1,129,258

Cash at bank and in hand
 7 
185,675
391,988

  
2,043,221
2,022,136

Creditors: amounts falling due within one year
 8 
(643,340)
(554,332)

Net current assets
  
 
 
1,399,881
 
 
1,467,804

Total assets less current liabilities
  
1,437,675
1,513,985

Creditors: amounts falling due after more than one year
 9 
(55,883)
(139,373)

Provisions for liabilities
  

Deferred tax
  
(7,996)
(11,297)

  
 
 
(7,996)
 
 
(11,297)

Net assets
  
1,373,796
1,363,315


Capital and reserves
  

Called up share capital 
  
20,100
20,100

Profit and loss account
  
1,353,696
1,343,215

  
1,373,796
1,363,315


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
THE DRESSING ROOM RETAIL LIMITED
REGISTERED NUMBER: 05262840
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Tadd
Director

Date: 9 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Dressing Room Retail Limited is a company limited by shares and incorporated in England & Wales
under the Companies Act 2006. The address of the registered office is given on the company information
page. The nature of the Company's operations and its principal activities are set out in the Directors’
report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the company has adequate resources to continue in operational existence for the foreseeable future.
Therefore, the directors have adopted the going concern basis of accounting in preparing the
financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings leasehold
-
straight line over the 15 year lease
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
Page 6

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and
the amounts reported for revenues and expenses during the year. The nature of estimation means the
actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the year was 24 (2022 - 18).

Page 7

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
50,700
10,577
15,191
104,638
181,106


Additions
-
-
-
3,381
3,381



At 31 March 2023

50,700
10,577
15,191
108,019
184,487



Depreciation


At 1 April 2022
50,700
10,365
2,445
71,415
134,925


Charge for the year on owned assets
-
53
3,187
8,528
11,768



At 31 March 2023

50,700
10,418
5,632
79,943
146,693



Net book value



At 31 March 2023
-
159
9,559
28,076
37,794



At 31 March 2022
-
212
12,746
33,223
46,181


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
1,132,829
1,111,269

1,132,829
1,111,269

Due within one year

Other debtors
19,160
13,510

Prepayments and accrued income
36,354
4,479

1,188,343
1,129,258


Page 8

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
185,675
391,988

185,675
391,988



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
84,908
81,792

Trade creditors
428,193
347,094

Corporation tax
40,775
92,686

Other taxation and social security
44,719
25,747

Other creditors
40,580
3,773

Accruals and deferred income
4,165
3,240

643,340
554,332



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
55,883
139,373

55,883
139,373


Page 9

 
THE DRESSING ROOM RETAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
84,908
81,792


84,908
81,792

Amounts falling due 1-2 years

Bank loans
55,883
84,963


55,883
84,963

Amounts falling due 2-5 years

Bank loans
-
54,410


-
54,410


140,791
221,165



11.


Deferred taxation




2023


£






At beginning of year
(11,297)


Charged to profit or loss
3,301



At end of year
(7,996)

2023
2022
£
£


Accelerated capital allowances
(7,996)
(11,297)

(7,996)
(11,297)

 
Page 10