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REGISTERED NUMBER: 04393655 (England and Wales)












Financial Statements

for the Year Ended 31 January 2023

for

Desire Clothing Limited

Desire Clothing Limited (Registered number: 04393655)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Desire Clothing Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: M P Watson
Mrs J E M Watson





SECRETARY: Mrs J E M Watson





REGISTERED OFFICE: Archwood House
46/48 Long Street
Middleton
Manchester
Greater Manchester
M24 6UQ





REGISTERED NUMBER: 04393655 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

Desire Clothing Limited (Registered number: 04393655)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 21,486 27,829

CURRENT ASSETS
Inventories 70,000 12,000
Debtors 5 - 3,318
Cash at bank 2,718 7,196
72,718 22,514
CREDITORS
Amounts falling due within one year 6 231,050 155,358
NET CURRENT LIABILITIES (158,332 ) (132,844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(136,846

)

(105,015

)

PROVISIONS FOR LIABILITIES - 5,118
NET LIABILITIES (136,846 ) (110,133 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (136,848 ) (110,135 )
SHAREHOLDERS' FUNDS (136,846 ) (110,133 )

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.

Desire Clothing Limited (Registered number: 04393655)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





M P Watson - Director


Desire Clothing Limited (Registered number: 04393655)

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

1. STATUTORY INFORMATION

Desire 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.

The financial statements have been prepared on the assumption that the company is a going concern. The company is supported by the directors and as such consider it reasonable to rely on the continued support of the funds advanced by them to the company. The going concern basis is therefore believed to be appropriate and the financial statements do not contain any adjustments that might be necessary if that support were withdrawn.

Turnover
Revenue 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Inventories 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.

Desire Clothing Limited (Registered number: 04393655)

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

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022 10,577 42,246 2,280 55,103
Additions 820 - - 820
At 31 January 2023 11,397 42,246 2,280 55,923
DEPRECIATION
At 1 February 2022 2,644 23,613 1,017 27,274
Charge for year 2,189 4,658 316 7,163
At 31 January 2023 4,833 28,271 1,333 34,437
NET BOOK VALUE
At 31 January 2023 6,564 13,975 947 21,486
At 31 January 2022 7,933 18,633 1,263 27,829

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors - 3,318

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 8,100 12,491
Social security and other taxes 7,539 4,221
VAT 3,027 -
Other creditors 3,081 2,027
Directors' current accounts 207,053 135,319
Accrued expenses 2,250 1,300
231,050 155,358