14 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false true true true false No description of principal activities is disclosed 2022-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07038635 2022-03-01 2023-02-28 07038635 2023-02-28 07038635 2022-02-28 07038635 2022-02-28 07038635 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 07038635 core:MotorVehicles 2022-03-01 2023-02-28 07038635 bus:Director1 2022-03-01 2023-02-28 07038635 core:LandBuildings core:LongLeaseholdAssets 2022-02-28 07038635 core:FurnitureFittingsToolsEquipment 2022-02-28 07038635 core:MotorVehicles 2022-02-28 07038635 core:LandBuildings core:LongLeaseholdAssets 2023-02-28 07038635 core:FurnitureFittingsToolsEquipment 2023-02-28 07038635 core:MotorVehicles 2023-02-28 07038635 core:WithinOneYear 2023-02-28 07038635 core:WithinOneYear 2022-02-28 07038635 core:AfterOneYear 2023-02-28 07038635 core:AfterOneYear 2022-02-28 07038635 core:LandBuildings core:LongLeaseholdAssets 2022-03-01 2023-02-28 07038635 core:ShareCapital 2023-02-28 07038635 core:ShareCapital 2022-02-28 07038635 core:RetainedEarningsAccumulatedLosses 2023-02-28 07038635 core:RetainedEarningsAccumulatedLosses 2022-02-28 07038635 core:FurnitureFittingsToolsEquipment 2022-02-28 07038635 core:MotorVehicles 2022-02-28 07038635 bus:Director1 2022-02-28 07038635 bus:Director1 2023-02-28 07038635 bus:Director1 2021-02-28 07038635 bus:Director1 2022-02-28 07038635 bus:Director1 2021-03-01 2022-02-28 07038635 bus:SmallEntities 2022-03-01 2023-02-28 07038635 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 07038635 bus:FullAccounts 2022-03-01 2023-02-28 07038635 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 07038635 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
Company registration number: 07038635
Pages Schoolwear Limited
Unaudited filleted financial statements
28 February 2023
Pages Schoolwear Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Pages Schoolwear Limited
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 3 14,895 20,926
_______ _______
14,895 20,926
Current assets
Stocks 319,360 236,843
Debtors 4 19,244 24,623
Cash at bank and in hand 3,316 9,074
_______ _______
341,920 270,540
Creditors: amounts falling due
within one year 5 ( 149,101) ( 127,106)
_______ _______
Net current assets 192,819 143,434
_______ _______
Total assets less current liabilities 207,714 164,360
Creditors: amounts falling due
after more than one year 6 ( 36,146) ( 38,786)
Provisions for liabilities ( 3,238) ( 3,976)
_______ _______
Net assets 168,330 121,598
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 168,329 121,597
_______ _______
Shareholder funds 168,330 121,598
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Mrs S J Page
Director
Company registration number: 07038635
Pages Schoolwear Limited
Notes to the financial statements
Year ended 28 February 2023
1. General information
Pages Schoolwear Limited (Company number 07038635 ) is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 7-8 Granada House, Lower Stone Street, Maidstone, Kent, ME15 6JR.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - Over the lease term
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The company only enters in to basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and ither debtors and creditors, and loans from third parties.
2. Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 14 (2022: 21).
3. Tangible assets
Long leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 26,607 26,318 33,371 86,296
Additions - 490 - 490
Disposals - - ( 2,650) ( 2,650)
_______ _______ _______ _______
At 28 February 2023 26,607 26,808 30,721 84,136
_______ _______ _______ _______
Depreciation
At 1 March 2022 26,607 12,669 26,094 65,370
Charge for the year - 3,459 1,405 4,864
Disposals - - ( 993) ( 993)
_______ _______ _______ _______
At 28 February 2023 26,607 16,128 26,506 69,241
_______ _______ _______ _______
Carrying amount
At 28 February 2023 - 10,680 4,215 14,895
_______ _______ _______ _______
At 28 February 2022 - 13,649 7,277 20,926
_______ _______ _______ _______
4. Debtors
2023 2022
£ £
Trade debtors 650 -
Other debtors 18,594 24,623
_______ _______
19,244 24,623
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 28,172 29,896
Trade creditors 72,016 65,798
Social security and other taxes 6,938 4,828
Other creditors 41,975 26,584
_______ _______
149,101 127,106
_______ _______
6. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 36,146 38,786
_______ _______
7. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mrs S J Page 9,994 2,089 ( 12,481) ( 398)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mrs S J Page 24,341 22,983 ( 37,330) 9,994
_______ _______ _______ _______