Company Registration No. 10691769 (England and Wales)
Comino Couture London Limited
Unaudited accounts
for the year ended 31 July 2022
Comino Couture London Limited
Unaudited accounts
Contents
Comino Couture London Limited
Company Information
for the year ended 31 July 2022
Director
Sarah Theresa Keable
Company Number
10691769 (England and Wales)
Registered Office
3rd Floor 86-90 Paul Street
London
EC2A 4NE
England
Comino Couture London Limited
Statement of financial position
as at 31 July 2022
Tangible assets
1,477
1,884
Inventories
10,000
106,903
Cash at bank and in hand
3
1,118
Creditors: amounts falling due within one year
(242,429)
(222,020)
Net current liabilities
(207,570)
(104,530)
Total assets less current liabilities
(206,093)
(102,646)
Creditors: amounts falling due after more than one year
(25,425)
(34,425)
Net liabilities
(231,518)
(137,071)
Profit and loss account
(231,518)
(137,071)
Shareholders' funds
(231,518)
(137,071)
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 April 2024 and were signed on its behalf by
Sarah Theresa Keable
Director
Company Registration No. 10691769
Comino Couture London Limited
Notes to the Accounts
for the year ended 31 July 2022
Comino Couture London Limited is a private company, limited by shares, registered in England and Wales, registration number 10691769. The registered office is 3rd Floor 86-90 Paul Street, London, EC2A 4NE, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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:
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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.
Comino Couture London Limited
Notes to the Accounts
for the year ended 31 July 2022
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 the Statement of comprehensive income.
Short term debtors are measured at transaction price, less any impairment.
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.
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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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 the Statement of comprehensive income 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.
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Tangible fixed assets
Computer equipment
Comino Couture London Limited
Notes to the Accounts
for the year ended 31 July 2022
Amounts falling due within one year
Accrued income and prepayments
-
1,240
Other debtors
22,599
6,311
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
9,000
12,735
Trade creditors
20,944
30,229
Taxes and social security
38,565
16,734
Other creditors
163,776
156,178
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Creditors: amounts falling due after more than one year
2022
2021
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Transactions with related parties
Within other creditors there is an amount of £98130 owe to the director of the company.
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Average number of employees
During the year the average number of employees was 3 (2021: 4).