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Company No: 04254585

The Mess Dress Limited

Unaudited Financial Statements

Year Ended

31 July 2023

 

The Mess Dress Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

The Mess Dress Limited

Company Information

Directors

E Beskardes

A Beskardes

Registered office

88 Stewart Road
Charminster
Bournemouth
Dorset
BH8 8NU

Accountants

Brett Pittwood
Chartered Certified Accountants
Suite 8 Bourne Gate
25 Bourne Valley Road
Poole
Dorset
BH12 1DY

 

The Mess Dress Limited

(Registration number: 04254585)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

523,835

533,716

Current assets

 

Stocks

80,400

75,000

Debtors

5

4,523

20,772

Cash at bank and in hand

 

506,642

377,712

 

591,565

473,484

Creditors: Amounts falling due within one year

6

(100,593)

(126,736)

Net current assets

 

490,972

346,748

Total assets less current liabilities

 

1,014,807

880,464

Provisions for liabilities

(1,197)

(2,123)

Net assets

 

1,013,610

878,341

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,013,608

878,339

Shareholders' funds

 

1,013,610

878,341

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2024 and signed on its behalf by:
 

E Beskardes
Director

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
88 Stewart Road
Charminster
Bournemouth
Dorset
BH8 8NU
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company. Monetary amounts are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the funds or asset received or receivable.

Government grants in respect of capital expenditure are credited to deferred income and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Computer equipment

33.3% straight line

Motor vehicles

25% reducing balance

Freehold buildings

over 50 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

Financial instruments

Classification
Financial assets

Basic financial assets
Basic financial assets, which include trade debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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 trade and other 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 7).

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

4

Tangible assets

Land and buildings
£

Equipment
£

Motor vehicle
 £

Total
£

Cost or valuation

At 1 August 2022

513,750

67,443

38,034

619,227

Additions

-

9,413

-

9,413

Disposals

-

(15,323)

-

(15,323)

At 31 July 2023

513,750

61,533

38,034

613,317

Depreciation

At 1 August 2022

20,479

39,032

26,000

85,511

Charge for the year

3,248

10,217

3,009

16,474

Eliminated on disposal

-

(12,503)

-

(12,503)

At 31 July 2023

23,727

36,746

29,009

89,482

Carrying amount

At 31 July 2023

490,023

24,787

9,025

523,835

At 31 July 2022

493,271

28,411

12,034

533,716

Included within the net book value of land and buildings above is £490,023 (2022 - £493,271) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Other debtors

3,441

20,001

Prepayments

1,082

771

4,523

20,772

 

The Mess Dress Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

12,820

15,118

Taxation and social security

29,260

55,126

Accruals and deferred income

2,530

4,720

Other creditors

55,983

51,772

100,593

126,736