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REGISTERED NUMBER: 07009951 (England and Wales)















Stylar Limited

Financial Statements

for the Year Ended 31 August 2023






Stylar Limited (Registered number: 07009951)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stylar Limited

Company Information
for the year ended 31 August 2023







Director: R James





Registered office: 250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP





Registered number: 07009951 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Stylar Limited (Registered number: 07009951)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 1 80

Current assets
Debtors 5 697,322 573,647
Cash at bank 30,518 384
727,840 574,031
Creditors
Amounts falling due within one year 6 220,266 244,460
Net current assets 507,574 329,571
Total assets less current liabilities 507,575 329,651

Creditors
Amounts falling due after more than one
year

7

697,940

543,000
Net liabilities (190,365 ) (213,349 )

Capital and reserves
Called up share capital 1 1
Other reserves 38,000 38,000
Retained earnings (228,366 ) (251,350 )
(190,365 ) (213,349 )

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

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2023 and were signed by:





R James - Director


Stylar Limited (Registered number: 07009951)

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


1. Statutory information

Stylar 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

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.


Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 33% straight line method
Computer equipment 33% straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Stylar Limited (Registered number: 07009951)

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


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 3 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 September 2022
and 31 August 2023 2,133 13,898 16,031
Depreciation
At 1 September 2022 2,133 13,818 15,951
Charge for year - 79 79
At 31 August 2023 2,133 13,897 16,030
Net book value
At 31 August 2023 - 1 1
At 31 August 2022 - 80 80

Stylar Limited (Registered number: 07009951)

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


5. Debtors
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 16,999 17,421
Amounts owed by group undertakings - 1,441
Other debtors 1,226 755
18,225 19,617

Amounts falling due after more than one year:
Other debtors 679,097 554,030

Aggregate amounts 697,322 573,647

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 28,116 37,881
Trade creditors 6,316 49,336
Taxation and social security 45,617 110,872
Other creditors 140,217 46,371
220,266 244,460

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 697,940 543,000

8. Related party disclosures

Included within debtors at the year end is £679,097 (2022: £555,471) due from connected companies.

9. Ultimate parent company

The ultimate parent company remained as Digital Brand Media & Marketing Inc (DBMM), which is also the parent company for RTG Ventures (Europe) Limited, sole shareholder for Stylar Limited. Subsequent to the year end of Stylar Limited, RTG Ventures (Europe) Limited was dissolved on 27 June 2023. DBMM became the sole shareholder of Stylar Limited as at this date.

The consolidated financial statements can be obtained from DBMM's corporate address 845 Third Avenue, 6th Floor, New York, NY 10022.