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REGISTERED NUMBER: 07055422















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

DRESS 2 PARTY LTD

DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DRESS 2 PARTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: Mrs V Kenley
Mrs S Cohen





REGISTERED OFFICE: 4th Floor
Charles House
108-110 FInchley Road
London
NW3 5JJ





REGISTERED NUMBER: 07055422





ACCOUNTANTS: Numera Partners LLP
4th Floor
Charles House
108-110 Finchley Road
London
NW3 5JJ

DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)

BALANCE SHEET
30 NOVEMBER 2022

30.11.22 30.11.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,179 3,974

CURRENT ASSETS
Stocks 550,000 705,000
Debtors 5 55,241 55,240
Cash at bank and in hand 11,847 50,100
617,088 810,340
CREDITORS
Amounts falling due within one year 6 726,238 588,595
NET CURRENT (LIABILITIES)/ASSETS (109,150 ) 221,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

(104,971

)

225,719

CREDITORS
Amounts falling due after more than one year 7 125,000 225,000
NET (LIABILITIES)/ASSETS (229,971 ) 719

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (229,973 ) 717
SHAREHOLDERS' FUNDS (229,971 ) 719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:




Mrs V Kenley - Director



Mrs S Cohen - Director


DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1. STATUTORY INFORMATION

Dress 2 Party Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £.

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.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. There is sufficient funding in place to support the ongoing development.

At the balance sheet date, the company's liabilities exceeded its assets by £229,971 and it reported a loss of £230,690. In the opinion of the directors the company has the support of its creditors and financiers for the foreseeable future, and it is therefore considered appropriate to adopt the going concern policy.

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

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 - 20% 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 Income Statement, 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.

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.

Financial instruments
The company has elected to apply the provisions of section 11 'basic financial instruments' and section 12 'other financial instruments issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

2. ACCOUNTING POLICIES - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt , are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilites that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilites once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2021 - 17 ) .

DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021 29,150
Additions 1,199
At 30 November 2022 30,349
DEPRECIATION
At 1 December 2021 25,176
Charge for year 994
At 30 November 2022 26,170
NET BOOK VALUE
At 30 November 2022 4,179
At 30 November 2021 3,974

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Trade debtors 1 -
Amounts owed by group undertakings 1,801 1,801
Other debtors 53,439 53,439
55,241 55,240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans and overdrafts 65,753 27,431
Trade creditors 35,131 55,721
Amounts owed to group undertakings 70,626 70,626
Taxation and social security 162,190 155,300
Other creditors 392,538 279,517
726,238 588,595

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans 125,000 225,000

DRESS 2 PARTY LTD (REGISTERED NUMBER: 07055422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2022 and 30 November 2021:

30.11.22 30.11.21
£    £   
Mrs V Kenley
Balance outstanding at start of year (26,500 ) (60,075 )
Amounts advanced 90,155 57,821
Amounts repaid (191,155 ) (24,246 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (127,500 ) (26,500 )

Mrs S Cohen
Balance outstanding at start of year (2,500 ) (794 )
Amounts advanced - 11,968
Amounts repaid (100,000 ) (13,674 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (102,500 ) (2,500 )