Registered number
12612693
CARMEN CLOTHING LTD
Unaudited Filleted Accounts
31 May 2023
CARMEN CLOTHING LTD
Registered number: 12612693
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 50,610 57,692
Current assets
Stocks 94,784 90,000
Debtors 4 26,314 15,679
Cash at bank and in hand 47,179 102,606
168,277 208,285
Creditors: amounts falling due within one year 5 (53,728) (38,237)
Net current assets 114,549 170,048
Total assets less current liabilities 165,159 227,740
Creditors: amounts falling due after more than one year 6 (133,088) (162,916)
Net assets 32,071 64,824
Capital and reserves
Called up share capital 1 1
Profit and loss account 32,070 64,823
Shareholder's funds 32,071 64,824
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Cartwright
Director
Approved by the board on 30 November 2023
CARMEN CLOTHING LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 8
3 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 9,162 37,872 20,000 67,034
Additions - 7,905 - 7,905
At 31 May 2023 9,162 45,777 20,000 74,939
Depreciation
At 1 June 2022 1,832 6,843 667 9,342
Charge for the year 1,832 9,155 4,000 14,987
At 31 May 2023 3,664 15,998 4,667 24,329
Net book value
At 31 May 2023 5,498 29,779 15,333 50,610
At 31 May 2022 7,330 31,029 19,333 57,692
4 Debtors 2023 2022
£ £
Trade debtors 25,014 15,679
Other debtors 1,300 -
26,314 15,679
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,663 -
Taxation and social security costs 36,544 10,766
Other creditors 4,521 27,471
53,728 38,237
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 133,088 162,916
7 Other information
CARMEN CLOTHING LTD is a private company limited by shares and incorporated in England. Its registered office is:
C4 North Cheshire Trading Estate
Brookway
Prenton
Merseyside
CH43 3DT
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