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REGISTERED NUMBER: 01305899 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

EUROSUITS LIMITED

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EUROSUITS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: Mr P V Graham





REGISTERED OFFICE: 3rd Floor
Lawford House
Albert Plave
London
N3 1QA





REGISTERED NUMBER: 01305899 (England and Wales)





ACCOUNTANTS: Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 165 221

CURRENT ASSETS
Stocks 6 161,834 159,677
Debtors 7 6,143 -
Cash at bank and in hand 52,916 60,745
220,893 220,422
CREDITORS
Amounts falling due within one year 8 (40,484 ) (39,022 )
NET CURRENT ASSETS 180,409 181,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,574

181,621

CREDITORS
Amounts falling due after more than one
year

9

(21,468

)

(31,172

)
NET ASSETS 159,106 150,449

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 11 154,106 145,449
SHAREHOLDERS' FUNDS 159,106 150,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





Mr P V Graham - Director


EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Eurosuits 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, as modified where assets have been revalued.

Significant judgements and estimates
The preparation of financial statements requires management to make significant judgements and estimates that affect the reported amounts of assets, liabilities, income and expenses. No significant judgements or assumptions have had to be made by management in preparing these financial statements.

Changes in accounting policies
There have been no changes in accounting policies during the year.

Turnover & revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. The company recognises revenue as soon as the customers purchase the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated residual life:

Fixtures Fittings & Equipment - 25% on reducing balance

Plant & machinery - 25% on reducing balance

At the end of each financial year, the director assesses the carrying values of the assets having regard to their condition, obsolescence and whether they are still in use, and where necessary the asset values are impaired.

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

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.

Debt instruments like bank loans are initially measured at present value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit & loss account.

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits
Short- term employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

Termination benefits
Provisions for termination benefits are only recognised when the company is legally committed to terminate the employment of employees.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 arises as a result of the inclusion of income and expenditure in the taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more/(less) tax at a future date, at the average rates of tax that are expected to apply when the timing differences reverse, based on laws and tax rates currently in force. Deferred tax is also provided on revaluation of assets. The deferred tax thus calculated, is measured on a non-discounted basis..

4. EMPLOYEES AND DIRECTORS

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

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 15,616 43,226 58,842
DEPRECIATION
At 1 May 2022 15,558 43,063 58,621
Charge for year 15 41 56
At 30 April 2023 15,573 43,104 58,677
NET BOOK VALUE
At 30 April 2023 43 122 165
At 30 April 2022 58 163 221

6. STOCKS
2023 2022
£    £   
Stocks held for resale 161,834 159,677

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,143 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 20,424 16,049
Taxation and social security 46 5,223
Other creditors 10,014 7,750
40,484 39,022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 21,468 31,172

EUROSUITS LIMITED (REGISTERED NUMBER: 01305899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,468 21,172

11. RESERVES

All of the company's retained profits are distributable.

12. ULTIMATE CONTROLLING PARTY

Mr P V Graham, a director, together with members of his close family, control the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued share capital.