Accessory World (GG) Limited 09215353 false 2021-10-01 2022-09-30 2022-09-30 The principal activity of the company is retail of childrens clothing Digita Accounts Production Advanced 6.30.9574.0 true true 09215353 2021-10-01 2022-09-30 09215353 2022-09-30 09215353 core:RetainedEarningsAccumulatedLosses 2022-09-30 09215353 core:ShareCapital 2022-09-30 09215353 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09215353 core:FurnitureFittingsToolsEquipment 2022-09-30 09215353 bus:SmallEntities 2021-10-01 2022-09-30 09215353 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 09215353 bus:FullAccounts 2021-10-01 2022-09-30 09215353 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 09215353 bus:RegisteredOffice 2021-10-01 2022-09-30 09215353 bus:Director1 2021-10-01 2022-09-30 09215353 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 09215353 core:FurnitureFittings 2021-10-01 2022-09-30 09215353 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 09215353 countries:EnglandWales 2021-10-01 2022-09-30 09215353 2021-09-30 09215353 core:FurnitureFittingsToolsEquipment 2021-09-30 09215353 2020-10-01 2021-09-30 09215353 2021-09-30 09215353 core:RetainedEarningsAccumulatedLosses 2021-09-30 09215353 core:ShareCapital 2021-09-30 09215353 core:CurrentFinancialInstruments core:WithinOneYear 2021-09-30 09215353 core:FurnitureFittingsToolsEquipment 2021-09-30 iso4217:GBP xbrli:pure

Registration number: 09215353

Accessory World (GG) Limited



Filleted Unaudited Financial Statements

for the Year Ended 30 September 2022

 

Accessory World (GG) Limited

 

(Registration number: 09215353)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

128,351

111,288

Current assets

 

Stocks

5

600,000

500,000

Cash at bank and in hand

 

4,767

3,000

 

604,767

503,000

Creditors: Amounts falling due within one year

6

(819,931)

(727,586)

Net current liabilities

 

(215,164)

(224,586)

Net liabilities

 

(86,813)

(113,298)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(86,814)

(113,299)

Total equity

 

(86,813)

(113,298)

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 February 2024
 

 

Accessory World (GG) Limited

 

(Registration number: 09215353)
Balance Sheet as at 30 September 2022

.........................................
Ms D N Benoliel
Director

 

Accessory World (GG) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2ND Floor Parkgates Bury New Road
Prestwich
Manchester
M25 0TL
England

These financial statements were authorised for issue by the director on 6 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Accessory World (GG) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Accessory World (GG) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Accessory World (GG) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2021

319,228

319,228

Additions

38,955

38,955

At 30 September 2022

358,183

358,183

Depreciation

At 1 October 2021

207,940

207,940

Charge for the year

21,892

21,892

At 30 September 2022

229,832

229,832

Carrying amount

At 30 September 2022

128,351

128,351

At 30 September 2021

111,288

111,288

5

Stocks

2022
£

2021
£

Other inventories

600,000

500,000

 

Accessory World (GG) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

51,029

64,837

Taxation and social security

101,028

63,554

Other creditors

627,244

561,415

Accruals and deferred income

40,630

37,780

819,931

727,586

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £234,784 (2021 - £294,784). operating leases