2022-07-012023-06-302023-06-30false05455870ALAN PAINE KNITWEAR LIMITED2023-09-2046420iso4217:GBPxbrli:pure054558702022-07-01054558702023-06-30054558702022-07-012023-06-30054558702021-07-01054558702022-06-30054558702021-07-012022-06-3005455870bus:SmallEntities2022-07-012023-06-3005455870bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3005455870bus:FullAccounts2022-07-012023-06-3005455870bus:PrivateLimitedCompanyLtd2022-07-012023-06-3005455870core:WithinOneYear2023-06-3005455870core:AfterOneYear2023-06-3005455870core:WithinOneYear2022-06-3005455870core:AfterOneYear2022-06-3005455870core:ShareCapital2023-06-3005455870core:SharePremium2023-06-3005455870core:RevaluationReserve2023-06-3005455870core:OtherReservesSubtotal2023-06-3005455870core:RetainedEarningsAccumulatedLosses2023-06-3005455870core:ShareCapital2022-06-3005455870core:SharePremium2022-06-3005455870core:RevaluationReserve2022-06-3005455870core:OtherReservesSubtotal2022-06-3005455870core:RetainedEarningsAccumulatedLosses2022-06-3005455870core:LandBuildings2023-06-3005455870core:PlantMachinery2023-06-3005455870core:Vehicles2023-06-3005455870core:FurnitureFittings2023-06-3005455870core:OfficeEquipment2023-06-3005455870core:NetGoodwill2023-06-3005455870core:IntangibleAssetsOtherThanGoodwill2023-06-3005455870core:ListedExchangeTraded2023-06-3005455870core:UnlistedNon-exchangeTraded2023-06-3005455870core:LandBuildings2022-06-3005455870core:PlantMachinery2022-06-3005455870core:Vehicles2022-06-3005455870core:FurnitureFittings2022-06-3005455870core:OfficeEquipment2022-06-3005455870core:NetGoodwill2022-06-3005455870core:IntangibleAssetsOtherThanGoodwill2022-06-3005455870core:ListedExchangeTraded2022-06-3005455870core:UnlistedNon-exchangeTraded2022-06-3005455870core:LandBuildings2022-07-012023-06-3005455870core:PlantMachinery2022-07-012023-06-3005455870core:Vehicles2022-07-012023-06-3005455870core:FurnitureFittings2022-07-012023-06-3005455870core:OfficeEquipment2022-07-012023-06-3005455870core:NetGoodwill2022-07-012023-06-3005455870core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3005455870core:ListedExchangeTraded2022-07-012023-06-3005455870core:UnlistedNon-exchangeTraded2022-07-012023-06-3005455870core:MoreThanFiveYears2022-07-012023-06-3005455870core:Non-currentFinancialInstruments2023-06-3005455870core:Non-currentFinancialInstruments2022-06-3005455870dpl:CostSales2022-07-012023-06-3005455870dpl:DistributionCosts2022-07-012023-06-3005455870core:LandBuildings2022-07-012023-06-3005455870core:PlantMachinery2022-07-012023-06-3005455870core:Vehicles2022-07-012023-06-3005455870core:FurnitureFittings2022-07-012023-06-3005455870core:OfficeEquipment2022-07-012023-06-3005455870dpl:AdministrativeExpenses2022-07-012023-06-3005455870core:NetGoodwill2022-07-012023-06-3005455870core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3005455870dpl:GroupUndertakings2022-07-012023-06-3005455870dpl:ParticipatingInterests2022-07-012023-06-3005455870dpl:GroupUndertakingscore:ListedExchangeTraded2022-07-012023-06-3005455870core:ListedExchangeTraded2022-07-012023-06-3005455870dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-07-012023-06-3005455870core:UnlistedNon-exchangeTraded2022-07-012023-06-3005455870dpl:CostSales2021-07-012022-06-3005455870dpl:DistributionCosts2021-07-012022-06-3005455870core:LandBuildings2021-07-012022-06-3005455870core:PlantMachinery2021-07-012022-06-3005455870core:Vehicles2021-07-012022-06-3005455870core:FurnitureFittings2021-07-012022-06-3005455870core:OfficeEquipment2021-07-012022-06-3005455870dpl:AdministrativeExpenses2021-07-012022-06-3005455870core:NetGoodwill2021-07-012022-06-3005455870core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3005455870dpl:GroupUndertakings2021-07-012022-06-3005455870dpl:ParticipatingInterests2021-07-012022-06-3005455870dpl:GroupUndertakingscore:ListedExchangeTraded2021-07-012022-06-3005455870core:ListedExchangeTraded2021-07-012022-06-3005455870dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-07-012022-06-3005455870core:UnlistedNon-exchangeTraded2021-07-012022-06-3005455870core:NetGoodwill2023-06-3005455870core:IntangibleAssetsOtherThanGoodwill2023-06-3005455870core:LandBuildings2023-06-3005455870core:PlantMachinery2023-06-3005455870core:Vehicles2023-06-3005455870core:FurnitureFittings2023-06-3005455870core:OfficeEquipment2023-06-3005455870core:AfterOneYear2023-06-3005455870core:WithinOneYear2023-06-3005455870core:ListedExchangeTraded2023-06-3005455870core:UnlistedNon-exchangeTraded2023-06-3005455870core:ShareCapital2023-06-3005455870core:SharePremium2023-06-3005455870core:RevaluationReserve2023-06-3005455870core:OtherReservesSubtotal2023-06-3005455870core:RetainedEarningsAccumulatedLosses2023-06-3005455870core:NetGoodwill2022-06-3005455870core:IntangibleAssetsOtherThanGoodwill2022-06-3005455870core:LandBuildings2022-06-3005455870core:PlantMachinery2022-06-3005455870core:Vehicles2022-06-3005455870core:FurnitureFittings2022-06-3005455870core:OfficeEquipment2022-06-3005455870core:AfterOneYear2022-06-3005455870core:WithinOneYear2022-06-3005455870core:Liste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ALAN PAINE KNITWEAR LIMITED

Registered Number
05455870
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

ALAN PAINE KNITWEAR LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

CLOUSTON, John Alan
FLYNN, Henry Mcmillan
FROGG, Kieron Andrew
HEALY, Mark
HINTON, James Donald
SAHOTA, Kamaljit Singh
SEVERN, Ashley

Registered Address

Unit 4a Hamilton Way
Oakham Business Park
Mansfield
NG18 5BU

Registered Number

05455870 (England and Wales)
ALAN PAINE KNITWEAR LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6321,759111,976
321,759111,976
Current assets
Stocks91,879,4501,477,595
Debtors10220,714453,950
Cash at bank and on hand605,367700,735
2,705,5312,632,280
Creditors amounts falling due within one year11(1,303,513)(1,315,444)
Net current assets (liabilities)1,402,0181,316,836
Total assets less current liabilities1,723,7771,428,812
Creditors amounts falling due after one year12(87,283)(247,070)
Provisions for liabilities13(61,125)-
Net assets1,575,3691,181,742
Capital and reserves
Called up share capital11,53011,530
Share premium30,00030,000
Profit and loss account1,533,8391,140,212
Shareholders' funds1,575,3691,181,742
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2023, and are signed on its behalf by:
HINTON, James Donald
Director
Registered Company No. 05455870
ALAN PAINE KNITWEAR LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Intangible assets constitute goodwill arising on purchased businesses which has been fulling amortised over its useful life.
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year2423
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 22483,109483,109
At 30 June 23483,109483,109
Amortisation and impairment
At 01 July 22483,109483,109
At 30 June 23483,109483,109
Net book value
At 30 June 23--
At 30 June 22--
6.Property, plant and equipment

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 July 22151,77091,463161,475404,708
Additions47,4481,161210,346258,955
Disposals(39,000)--(39,000)
At 30 June 23160,21892,624371,821624,663
Depreciation and impairment
At 01 July 2260,33686,008146,388292,732
Charge for year31,2553,72314,19449,172
On disposals(39,000)--(39,000)
At 30 June 2352,59189,731160,582302,904
Net book value
At 30 June 23107,6272,893211,239321,759
At 30 June 2291,4345,45515,087111,976
7.Description of financial commitments other than capital commitments
Other financial commitments total £67,886 on the rental of the company premises over the next 6 years (30 June 2022 £67,886).
8.Description of capital commitments
Capital commitments are due on hire purchase contracts as follows: within one year £30,347, between 1 and 2 years £34,586 and between 2 and 3 years £22,300 (30 June 2022: within one year £Nil, between1 and 2 years £37,976 and between 2 and 3 years £42,427)
9.Stocks

2023

2022

££
Finished goods1,879,4501,477,595
Total1,879,4501,477,595
10.Debtors

2023

2022

££
Trade debtors / trade receivables93,774197,140
Other debtors13,48618,294
Prepayments and accrued income113,454238,516
Total220,714453,950
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables742,997639,631
Taxation and social security175,802108,886
Other creditors112,435113,892
Accrued liabilities and deferred income272,279453,035
Total1,303,5131,315,444
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts87,283247,070
Total87,283247,070
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)61,125-
Total61,125-