IRIS Accounts Production v23.3.0.418 01437598 director 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary A 1.00000 Ordinary non voting shares 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure014375982022-02-28014375982023-02-28014375982022-03-012023-02-28014375982021-02-28014375982021-03-012022-02-28014375982022-02-2801437598ns16:EnglandWales2022-03-012023-02-2801437598ns15:PoundSterling2022-03-012023-02-2801437598ns11:Director12022-03-012023-02-2801437598ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2801437598ns11:SmallEntities2022-03-012023-02-2801437598ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2801437598ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2801437598ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2801437598ns11:FullAccounts2022-03-012023-02-2801437598ns11:OrdinaryShareClass12022-03-012023-02-2801437598ns11:OrdinaryShareClass22022-03-012023-02-2801437598ns11:CompanySecretary12022-03-012023-02-2801437598ns11:RegisteredOffice2022-03-012023-02-2801437598ns6:CurrentFinancialInstruments2023-02-2801437598ns6:CurrentFinancialInstruments2022-02-2801437598ns6:Non-currentFinancialInstruments2023-02-2801437598ns6:Non-currentFinancialInstruments2022-02-2801437598ns6:ShareCapital2023-02-2801437598ns6:ShareCapital2022-02-2801437598ns6:RevaluationReserve2023-02-2801437598ns6:RevaluationReserve2022-02-2801437598ns6:CapitalRedemptionReserve2023-02-2801437598ns6:CapitalRedemptionReserve2022-02-2801437598ns6:RetainedEarningsAccumulatedLosses2023-02-2801437598ns6:RetainedEarningsAccumulatedLosses2022-02-2801437598ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-012023-02-2801437598ns6:PlantMachinery2022-03-012023-02-2801437598ns6:FurnitureFittings2022-03-012023-02-2801437598ns6:MotorVehicles2022-03-012023-02-2801437598ns6:LandBuildings2022-02-2801437598ns6:PlantMachinery2022-02-2801437598ns6:FurnitureFittings2022-02-2801437598ns6:MotorVehicles2022-02-2801437598ns6:LandBuildings2022-03-012023-02-2801437598ns6:LandBuildings2023-02-2801437598ns6:PlantMachinery2023-02-2801437598ns6:FurnitureFittings2023-02-2801437598ns6:MotorVehicles2023-02-2801437598ns6:LandBuildings2022-02-2801437598ns6:PlantMachinery2022-02-2801437598ns6:FurnitureFittings2022-02-2801437598ns6:MotorVehicles2022-02-2801437598ns6:LeasedAssetsHeldAsLessee2022-03-012023-02-2801437598ns6:CostValuation2022-02-2801437598ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2801437598ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2801437598ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-02-2801437598ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-02-2801437598ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2023-02-2801437598ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-02-2801437598ns6:HirePurchaseContracts2023-02-2801437598ns6:HirePurchaseContracts2022-02-2801437598ns11:OrdinaryShareClass12023-02-2801437598ns11:OrdinaryShareClass22023-02-28
REGISTERED NUMBER: 01437598 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2023

for

KATZ DANCEWEAR LIMITED

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)






Contents of the Financial Statements
for the year ended 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KATZ DANCEWEAR LIMITED

Company Information
for the year ended 28 FEBRUARY 2023







DIRECTOR: S L Welman





SECRETARY: S L Welman





REGISTERED OFFICE: 20 Midland Road
Thrapston
Kettering
Northamptonshire
NN14 4JR





REGISTERED NUMBER: 01437598 (England and Wales)





ACCOUNTANTS: Elsby & Co
Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Balance Sheet
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 953,447 874,670
Investments 5 6,076 6,076
959,523 880,746

CURRENT ASSETS
Stocks 6 1,697,753 1,432,575
Debtors 7 376,718 381,951
Cash at bank 32,160 77,740
2,106,631 1,892,266
CREDITORS
Amounts falling due within one year 8 252,095 118,553
NET CURRENT ASSETS 1,854,536 1,773,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,814,059

2,654,459

CREDITORS
Amounts falling due after more than one year 9 (115,518 ) (39,691 )

PROVISIONS FOR LIABILITIES (35,520 ) (39,355 )
NET ASSETS 2,663,021 2,575,413

CAPITAL AND RESERVES
Called up share capital 12 62,503 62,503
Revaluation reserve 419,489 428,500
Capital redemption reserve 44,823 44,823
Retained earnings 2,136,206 2,039,587
SHAREHOLDERS' FUNDS 2,663,021 2,575,413

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Balance Sheet - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:





S L Welman - Director


KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Notes to the Financial Statements
for the year ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Katz Dancewear 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 "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
Turnover is the total amount receivable by the company for the goods supplied excluding VAT. Turnover is recognised when delivery of goods takes place.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures, fittings and office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value. The cost of work in progress and finished goods comprises materials, direct labour and attributable production overheads. Net realisable value based on the estimated selling price after taking into account all further costs to be incurred on completion and disposal.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under the operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance lease contracts are capitalised and depreciated in line with the company's depreciation policy. The finance costs relating to the obligation are charged to the profit and loss account on a systematic basis over the life of the relevant contract.

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.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision of diminution of value.

3. EMPLOYEES

The average number of employees during the year was 29 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
Freehold Plant and office Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 723,650 581,540 519,730 39,141 1,864,061
Additions - 148,000 - - 148,000
Disposals - (25,360 ) - - (25,360 )
At 28 February 2023 723,650 704,180 519,730 39,141 1,986,701
DEPRECIATION
At 1 March 2022 56,110 466,053 436,109 31,119 989,391
Charge for year 13,350 24,685 12,543 2,006 52,584
Eliminated on disposal - (8,721 ) - - (8,721 )
At 28 February 2023 69,460 482,017 448,652 33,125 1,033,254
NET BOOK VALUE
At 28 February 2023 654,190 222,163 71,078 6,016 953,447
At 28 February 2022 667,540 115,487 83,621 8,022 874,670

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

20232022
Cost£420,761£420,761
Aggregate depreciation£199,241£194,720
Value of land in freehold land & buildings£221,520£226,041

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Included within the net book value of tangible assets is £130,500 (2022 : £25,916) in respect of assets held under finance lease agreements. Depreciation for the year on these assets was £14,500 (2022 - £2,880).

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 March 2022
and 28 February 2023 6,076
NET BOOK VALUE
At 28 February 2023 6,076
At 28 February 2022 6,076

6. STOCKS
2023 2022
£    £   
Raw materials and work in progress 230,528 166,512
Finished goods 1,467,225 1,266,063
1,697,753 1,432,575

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,142 51,673
Other debtors 334,576 330,278
376,718 381,951

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 75,338 47,953
Hire purchase contracts (see note 10) 26,508 10,457
Trade creditors 129,086 34,965
Taxation and social security 12,530 8,437
Other creditors 8,633 16,741
252,095 118,553

KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 29,923 39,691
Hire purchase contracts (see note 10) 85,595 -
115,518 39,691

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 26,508 10,457
Between one and five years 85,595 -
112,103 10,457

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 112,103 10,457

The hire purchase contracts are secured upon the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,498 Ordinary A 1 2,498 2,498
600,048 Ordinary non voting shares 0.10 60,005 60,005
62,503 62,503

Both the Ordinary and Non-voting Ordinary shares are entitled to receive dividends as the directors of the company may from time to time recommend to declare. There is no fixed dividend.

Both classes of shares rank pari passu as regards to winding up or other return of capital.

The holders of the Ordinary A shares are entitled to one vote each for every share held. The holders of the Non-voting Ordinary shares are entitled to attend general meetings but are not entitled to vote at such meetings.