Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Manufacture of workwear92022-07-01false9truetruefalse 06917013 2022-07-01 2023-06-30 06917013 2021-07-01 2022-06-30 06917013 2023-06-30 06917013 2022-06-30 06917013 c:Director1 2022-07-01 2023-06-30 06917013 d:PlantMachinery 2022-07-01 2023-06-30 06917013 d:PlantMachinery 2023-06-30 06917013 d:PlantMachinery 2022-06-30 06917013 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06917013 d:MotorVehicles 2022-07-01 2023-06-30 06917013 d:MotorVehicles 2023-06-30 06917013 d:MotorVehicles 2022-06-30 06917013 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06917013 d:OfficeEquipment 2022-07-01 2023-06-30 06917013 d:OfficeEquipment 2023-06-30 06917013 d:OfficeEquipment 2022-06-30 06917013 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06917013 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06917013 d:Goodwill 2022-07-01 2023-06-30 06917013 d:Goodwill 2023-06-30 06917013 d:Goodwill 2022-06-30 06917013 d:CurrentFinancialInstruments 2023-06-30 06917013 d:CurrentFinancialInstruments 2022-06-30 06917013 d:Non-currentFinancialInstruments 2023-06-30 06917013 d:Non-currentFinancialInstruments 2022-06-30 06917013 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06917013 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 06917013 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06917013 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 06917013 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 06917013 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 06917013 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 06917013 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 06917013 d:ShareCapital 2023-06-30 06917013 d:ShareCapital 2022-06-30 06917013 d:RetainedEarningsAccumulatedLosses 2023-06-30 06917013 d:RetainedEarningsAccumulatedLosses 2022-06-30 06917013 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 06917013 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-06-30 06917013 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-06-30 06917013 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-06-30 06917013 c:FRS102 2022-07-01 2023-06-30 06917013 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 06917013 c:FullAccounts 2022-07-01 2023-06-30 06917013 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06917013 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 06917013 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 06917013 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 06917013 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 06917013 2 2022-07-01 2023-06-30 06917013 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 06917013 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 06917013 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 06917013 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 06917013 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number:  06917013














UNIFORMS FOR WORK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


 
UNIFORMS FOR WORK LIMITED
REGISTERED NUMBER: 06917013

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,000
4,000

Tangible assets
 5 
60,852
74,971

  
64,852
78,971

Current assets
  

Stocks
  
1,421,640
960,511

Debtors: amounts falling due within one year
 6 
2,519,828
1,878,346

Cash at bank and in hand
 7 
324,119
275,344

  
4,265,587
3,114,201

Creditors: amounts falling due within one year
 8 
(1,861,763)
(1,312,291)

Net current assets
  
 
 
2,403,824
 
 
1,801,910

Total assets less current liabilities
  
2,468,676
1,880,881

Creditors: amounts falling due after more than one year
 9 
(134,973)
(191,794)

Provisions for liabilities
  

Deferred tax
 13 
-
(18,743)

  
 
 
-
 
 
(18,743)

Net assets
  
2,333,703
1,670,344


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,333,702
1,670,343

  
2,333,703
1,670,344


Page 1

 
UNIFORMS FOR WORK LIMITED
REGISTERED NUMBER: 06917013
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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.

The Company has opted not to file the statement of income and retained earnings 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 by: 




................................................
M A Finch
Director

Date: 14 March 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.06917013). The address of the registered office is Unit 7 Lister Park, Featherstone, Pontefract, West Yorkshire, WF7 6FE.
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is that of wholesale of workwear.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 3

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

Page 5

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
20%
reducing balance

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 9).


4.


Intangible assets



Goodwill

£



Cost


At 1 July 2022
4,000



At 30 June 2023

4,000






Net book value



At 30 June 2023
4,000



Page 7

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
6,668
122,287
16,469
145,424


Additions
-
-
4,025
4,025



At 30 June 2023

6,668
122,287
20,494
149,449



Depreciation


At 1 July 2022
3,690
54,458
12,305
70,453


Charge for the year on owned assets
280
16,957
907
18,144



At 30 June 2023

3,970
71,415
13,212
88,597



Net book value



At 30 June 2023
2,698
50,872
7,282
60,852



At 30 June 2022
2,978
67,829
4,163
74,970

Page 8

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
255,137
238,517

Amounts owed by group undertakings
2,011,191
1,468,713

Other debtors
220,652
145,652

Prepayments and accrued income
23,264
25,464

Deferred taxation
9,584
-

2,519,828
1,878,346



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
324,119
275,344

324,119
275,344



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
736,320
668,712

Corporation tax
226,549
153,311

Other taxation and social security
93,253
55,952

Obligations under finance lease and hire purchase contracts
9,374
9,375

Other creditors
135,243
252,991

Accruals and deferred income
611,024
121,950

1,861,763
1,312,291


Included within other creditors is £134,326 (2022 - £88,583) secured against the assets of the Company.
Obligations under finance lease and hire purchase contracts amounting to £48,515 (2022 - £55,336) are secured against applicable assets.

Page 9

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
95,833
145,833

Net obligations under finance leases and hire purchase contracts
39,140
45,961

134,973
191,794



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000

Amounts falling due 1-2 years

Bank loans
50,000
50,000

Amounts falling due 2-5 years

Bank loans
45,833
95,833


145,833
195,833



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
11,928
11,928

Between 1-5 years
49,352
58,726

61,280
70,654

Page 10

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
324,119
275,344

Financial assets measured at amortised cost
2,450,508
1,852,882

2,774,627
2,128,226


Financial liabilities


Financial liabilities measured at amortised cost
1,577,744
1,294,820


Financial assets measured at fair value through profit or loss comprise of cash at bank.


Financial assets measured at amortised cost comprise of trade debtors, group debtors and other debtors.


Financial liabilities measured at amortised cost comprise of bank loans, trade creditors, other creditors and accruals.


13.


Deferred taxation




2023


£






At beginning of year
(18,743)


Charged to profit or loss
28,327



At end of year
9,584

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fixed asset timing differences
(15,213)
(18,743)

Short term timing differences
24,797
-

9,584
(18,743)

Page 11

 
UNIFORMS FOR WORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,715 (2022: £121,843). Contributions totalling £99,189 (2022: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


15.


Controlling party

The Company is under the control of its director MA Finch by virtue of his shareholding in the parent company, UFW Topco Limited.

 
Page 12