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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

SULA CLOTHING LIMITED

SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SULA CLOTHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: Ms A J Taylor





REGISTERED OFFICE: Unit C,
132 - 134 Albion Street
Southwick
Brighton
West Sussex
BN42 4DP





REGISTERED NUMBER: 05761260 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 26,546 33,007
26,546 33,007

CURRENT ASSETS
Stocks 13,290 26,274
Debtors 6 89,252 64,889
Cash at bank and in hand 91,985 115,115
194,527 206,278
CREDITORS
Amounts falling due within one year 7 72,249 83,741
NET CURRENT ASSETS 122,278 122,537
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,824

155,544

CREDITORS
Amounts falling due after more than one
year

8

(13,630

)

(30,000

)

PROVISIONS FOR LIABILITIES - (6,271 )
NET ASSETS 135,194 119,273

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 135,193 119,272
SHAREHOLDERS' FUNDS 135,194 119,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)

BALANCE SHEET - continued
30TH JUNE 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 director and authorised for issue on 7th February 2024 and were signed by:





Ms A J Taylor - Director


SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Sula Clothing Limited 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 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 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 50,000
AMORTISATION
At 1st July 2022
and 30th June 2023 50,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022 61,853
Additions 1,790
At 30th June 2023 63,643
DEPRECIATION
At 1st July 2022 28,846
Charge for year 8,251
At 30th June 2023 37,097
NET BOOK VALUE
At 30th June 2023 26,546
At 30th June 2022 33,007

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,561 46,186
Other debtors 20,691 18,703
89,252 64,889

SULA CLOTHING LIMITED (REGISTERED NUMBER: 05761260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,947 10,000
Payments on account 31,714 20,510
Trade creditors 6,144 14,434
Taxation and social security 11,319 23,289
Other creditors 13,125 15,508
72,249 83,741

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 13,630 30,000