Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31No description of principal activityfalse2022-11-011816truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01518316 2022-11-01 2023-10-31 01518316 2021-11-01 2022-10-31 01518316 2023-10-31 01518316 2022-10-31 01518316 c:Director1 2022-11-01 2023-10-31 01518316 d:PlantMachinery 2022-11-01 2023-10-31 01518316 d:PlantMachinery 2023-10-31 01518316 d:PlantMachinery 2022-10-31 01518316 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01518316 d:MotorVehicles 2022-11-01 2023-10-31 01518316 d:MotorVehicles 2023-10-31 01518316 d:MotorVehicles 2022-10-31 01518316 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01518316 d:FurnitureFittings 2022-11-01 2023-10-31 01518316 d:FurnitureFittings 2023-10-31 01518316 d:FurnitureFittings 2022-10-31 01518316 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01518316 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01518316 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-10-31 01518316 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-10-31 01518316 d:CurrentFinancialInstruments 2023-10-31 01518316 d:CurrentFinancialInstruments 2022-10-31 01518316 d:Non-currentFinancialInstruments 2023-10-31 01518316 d:Non-currentFinancialInstruments 2022-10-31 01518316 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01518316 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01518316 d:ShareCapital 2023-10-31 01518316 d:ShareCapital 2022-10-31 01518316 d:CapitalRedemptionReserve 2023-10-31 01518316 d:CapitalRedemptionReserve 2022-10-31 01518316 d:RetainedEarningsAccumulatedLosses 2023-10-31 01518316 d:RetainedEarningsAccumulatedLosses 2022-10-31 01518316 c:OrdinaryShareClass1 2022-11-01 2023-10-31 01518316 c:OrdinaryShareClass1 2023-10-31 01518316 c:FRS102 2022-11-01 2023-10-31 01518316 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01518316 c:FullAccounts 2022-11-01 2023-10-31 01518316 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01518316 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 01518316 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 01518316 2 2022-11-01 2023-10-31 01518316 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01518316














FRANK SAUL (FASHIONS) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 
FRANK SAUL (FASHIONS) LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 9


 
FRANK SAUL (FASHIONS) LIMITED
REGISTERED NUMBER:01518316

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
20,716
23,154

Tangible assets
 4 
87,459
17,381

  
108,175
40,535

Current assets
  

Stocks
 6 
1,374,427
1,299,811

Debtors
 7 
7,547,526
7,536,861

Cash at bank and in hand
  
3,975,906
2,223,510

  
12,897,859
11,060,182

  

Creditors: amounts falling due within one year
 8 
(661,096)
(662,110)

Net current assets
  
 
 
12,236,763
 
 
10,398,072

Total assets less current liabilities
  
12,344,938
10,438,607

Provisions for liabilities
  

Deferred tax
  
(21,408)
-

Net assets
  
12,323,530
10,438,607


Capital and reserves
  

Called up share capital 
 10 
3,000
3,000

Capital redemption reserve
  
1,000
1,000

Profit and loss account
  
12,319,530
10,434,607

  
12,323,530
10,438,607


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
FRANK SAUL (FASHIONS) LIMITED
REGISTERED NUMBER:01518316
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 February 2024.




D Saul
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company's legal form is that of a private limited company incorporated in England and Wales. The Company’s registered office and principal place of business is Frank Saul House, Steele Road, London, NW10 7AR
 The principal activity of the Company is the supply of ladies clothing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the Company in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when goods are dispatched.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Costs includes all direct costs.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to other third parties.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.14

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 16).

Page 5

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 November 2022
20,945
-
83,124
104,069


Additions
4,060
81,510
2,283
87,853


Disposals
-
-
(19,451)
(19,451)



At 31 October 2023

25,005
81,510
65,956
172,471



Depreciation


At 1 November 2022
12,167
-
74,521
86,688


Charge for the year on owned assets
5,321
6,793
5,661
17,775


Disposals
-
-
(19,451)
(19,451)



At 31 October 2023

17,488
6,793
60,731
85,012



Net book value



At 31 October 2023
7,517
74,717
5,225
87,459



At 31 October 2022
8,778
-
8,603
17,381

Page 6

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Intangible assets




Trademarks

£



Cost


At 1 November 2022
24,372



At 31 October 2023

24,372



Amortisation


At 1 November 2022
1,219


Charge for the year on owned assets
2,437



At 31 October 2023

3,656



Net book value



At 31 October 2023
20,716



At 31 October 2022
23,154




6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
1,374,427
1,299,811


Page 7

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
6,981,470
6,306,650

Due within one year

Trade debtors
517,885
1,180,989

Other debtors
20,507
35,212

Prepayments and accrued income
27,664
14,010

7,547,526
7,536,861



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
144,276
346,036

Taxation and social security
401,808
214,072

Other creditors
15,537
14,568

Accruals
99,475
87,434

661,096
662,110



9.


Deferred taxation




2023


£






Charged to profit or loss
(21,408)



At end of year
(21,408)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(21,408)
-

Page 8

 
FRANK SAUL (FASHIONS) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,000 Ordinary shares of £1.00 each
3,000
3,000


 
Page 9