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REGISTERED NUMBER: 04695665 (England and Wales)















TAILORED BRANDING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAILORED BRANDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S R Hesford
Dr R E Hesford





SECRETARY: S R Hesford





REGISTERED OFFICE: Unit 20 Wolseley Court
Staffordshire Technology Park
Stafford
Staffordshire
ST18 0GA





REGISTERED NUMBER: 04695665 (England and Wales)

TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,229 39,861
36,229 39,861

CURRENT ASSETS
Stocks 6 20,417 15,235
Debtors 7 8,677 15,223
Cash at bank and in hand 34,231 46,216
63,325 76,674
CREDITORS
Amounts falling due within one year 8 (62,943 ) (64,477 )
NET CURRENT ASSETS 382 12,197
TOTAL ASSETS LESS CURRENT LIABILITIES 36,611 52,058

CREDITORS
Amounts falling due after more than one
year

9

(1,667

)

(5,667

)

PROVISIONS FOR LIABILITIES (6,884 ) (7,574 )
NET ASSETS 28,060 38,817

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 27,960 38,717
SHAREHOLDERS' FUNDS 28,060 38,817

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

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

TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





S R Hesford - Director


TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Tailored Branding 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of Promotional Merchandise and Branding is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of four years.

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.

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
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 7,560
AMORTISATION
At 1 April 2022
and 31 March 2023 7,560
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 70,297 14,690 84,987
Additions 13,381 3,880 17,261
Disposals (26,698 ) - (26,698 )
At 31 March 2023 56,980 18,570 75,550
DEPRECIATION
At 1 April 2022 41,453 3,673 45,126
Charge for year 8,329 3,724 12,053
Eliminated on disposal (17,858 ) - (17,858 )
At 31 March 2023 31,924 7,397 39,321
NET BOOK VALUE
At 31 March 2023 25,056 11,173 36,229
At 31 March 2022 28,844 11,017 39,861

6. STOCKS
2023 2022
£    £   
Stocks 20,417 15,235

TAILORED BRANDING LIMITED (REGISTERED NUMBER: 04695665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,198 13,442
Tax 1,943 -
Prepayments and accrued income 536 1,781
8,677 15,223

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 8,198 10,444
Tax - 1,943
Social security and other taxes 1,048 309
VAT 759 3,277
Directors' current accounts 42,312 41,192
Accruals and deferred income 6,626 3,312
62,943 64,477

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 1,667 4,000
Bank loans - 2-5 years - 1,667
1,667 5,667

10. CALLED UP SHARE CAPITAL

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

11. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £47,000 (2022 £7,500).