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REGISTERED NUMBER: 10024846 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Acai Outdoorwear Ltd

Acai Outdoorwear Ltd (Registered number: 10024846)






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


Acai Outdoorwear Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mrs K Bromley
J M Bromley
R J Leedham
Ms J Atkinson
J A Worrall





REGISTERED OFFICE: Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 10024846 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Acai Outdoorwear Ltd (Registered number: 10024846)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,201 79,102
Property, plant and equipment 5 83,233 99,513
122,434 178,615

CURRENT ASSETS
Inventories 2,237,533 1,224,920
Debtors 6 44,617 61,498
Cash at bank 887,391 1,195,511
3,169,541 2,481,929
CREDITORS
Amounts falling due within one year 7 693,730 778,870
NET CURRENT ASSETS 2,475,811 1,703,059
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,598,245

1,881,674

CREDITORS
Amounts falling due after more than one
year

8

(1,889,129

)

(662,941

)

PROVISIONS FOR LIABILITIES (15,814 ) (18,907 )
NET ASSETS 693,302 1,199,826

CAPITAL AND RESERVES
Called up share capital 9 1,375 1,375
Share premium 675,749 375,844
Retained earnings 16,178 822,607
SHAREHOLDERS' FUNDS 693,302 1,199,826

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 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.

Acai Outdoorwear Ltd (Registered number: 10024846)

Balance Sheet - continued
28 February 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 Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





J M Bromley - Director


Acai Outdoorwear Ltd (Registered number: 10024846)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Acai Outdoorwear Ltd 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.

The financial statements are presented in sterling, which is the functional currency of the company rounded to the nearest £1.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 3% on cost
Plant and machinery etc - 20% on reducing balance

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

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
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.

Acai Outdoorwear Ltd (Registered number: 10024846)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022 90,922
Additions 6,401
Disposals (33,451 )
At 28 February 2023 63,872
AMORTISATION
At 1 March 2022 11,820
Charge for year 16,363
Charge written back (3,512 )
At 28 February 2023 24,671
NET BOOK VALUE
At 28 February 2023 39,201
At 28 February 2022 79,102

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 7,796 110,306 118,102
Additions - 3,321 3,321
Disposals - (592 ) (592 )
At 28 February 2023 7,796 113,035 120,831
DEPRECIATION
At 1 March 2022 1,653 16,936 18,589
Charge for year 1,271 17,738 19,009
At 28 February 2023 2,924 34,674 37,598
NET BOOK VALUE
At 28 February 2023 4,872 78,361 83,233
At 28 February 2022 6,143 93,370 99,513

Acai Outdoorwear Ltd (Registered number: 10024846)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 2,997 32,327
Other debtors 41,620 29,171
44,617 61,498

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 87,688 97,110
Trade creditors 147,960 103,019
Taxation and social security 189,042 283,736
Other creditors 269,040 295,005
693,730 778,870

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 1,889,129 662,636
Other creditors - 305
1,889,129 662,941

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,657,390 371,417

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1,375 Ordinary £1.00 1,375 1,375