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REGISTERED NUMBER: 10832698 (England and Wales)


Nu Textiles London Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 May 2023






Nu Textiles London Limited (Registered number: 10832698)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Nu Textiles London Limited

Company Information
for the year ended 31 May 2023







DIRECTOR: Mr H Tellioglu





REGISTERED OFFICE: 15 New Cavendish Street
Marylebone
London
W1G 9UB





REGISTERED NUMBER: 10832698 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Nu Textiles London Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nu Textiles London Limited for the year ended 31 May 2023 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nu Textiles London Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nu Textiles London Limited and state those matters that we have agreed to state to the director of Nu Textiles London Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nu Textiles London Limited and its director for our work or for this report.

It is your duty to ensure that Nu Textiles London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nu Textiles London Limited. You consider that Nu Textiles London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nu Textiles London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


18 October 2023

Nu Textiles London Limited (Registered number: 10832698)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,400 4,250
Property, plant and equipment 5 175,159 212,995
178,559 217,245

CURRENT ASSETS
Inventories 6 263,751 241,883
Debtors 7 495,791 363,025
Cash at bank and in hand 22,624 65,545
782,166 670,453
CREDITORS
Amounts falling due within one year 8 1,041,138 930,391
NET CURRENT LIABILITIES (258,972 ) (259,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(80,413

)

(42,693

)

CREDITORS
Amounts falling due after more than one
year

9

(76,000

)

(114,000

)

PROVISIONS FOR LIABILITIES 11 (1,747 ) (2,329 )
NET LIABILITIES (158,160 ) (159,022 )

Nu Textiles London Limited (Registered number: 10832698)

Statement of Financial Position - continued
31 May 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (158,260 ) (159,122 )
SHAREHOLDERS' FUNDS (158,160 ) (159,022 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 October 2023 and were signed by:





Mr H Tellioglu - Director


Nu Textiles London Limited (Registered number: 10832698)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

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

Turnover is derived from the ordinary activities of the business and is recognised when the customer takes delivery of the goods.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Improvements to property - 10% on cost
Fixtures and fittings - 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.

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.

Going concern
The financial statements have been prepared on the going concern basis on the grounds that the directors will continue to provide sufficient finance to meet the liabilities as they fall due.

Nu Textiles London Limited (Registered number: 10832698)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 8,500
AMORTISATION
At 1 June 2022 4,250
Charge for year 850
At 31 May 2023 5,100
NET BOOK VALUE
At 31 May 2023 3,400
At 31 May 2022 4,250

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 42,001 349,416 391,417
DEPRECIATION
At 1 June 2022 8,645 169,777 178,422
Charge for year 4,200 33,636 37,836
At 31 May 2023 12,845 203,413 216,258
NET BOOK VALUE
At 31 May 2023 29,156 146,003 175,159
At 31 May 2022 33,356 179,639 212,995

6. INVENTORIES
2023 2022
£    £   
Stocks 263,751 241,883

Nu Textiles London Limited (Registered number: 10832698)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 252,203 145,799
Other debtors 153,052 126,690
405,255 272,489

Amounts falling due after more than one year:
Other debtors 90,536 90,536

Aggregate amounts 495,791 363,025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 38,601 38,052
Trade creditors 606,799 360,918
Taxation and social security 64,011 50,034
Other creditors 331,727 481,387
1,041,138 930,391

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 76,000 114,000

10. LOANS

The Coronavirus Business Interruption Scheme loan.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,747 2,329

Nu Textiles London Limited (Registered number: 10832698)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 2,329
Credit to Income Statement during year (582 )
Balance at 31 May 2023 1,747

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 June 2022 (159,122 )
Profit for the year 862
At 31 May 2023 (158,260 )

14. RELATED PARTY DISCLOSURES

Transactions with key management personnel:

At balance sheet date company owe £326,392 (2022: £476,453) to related party.
Interest free loan repayable on demand and is presented within creditors.