IRIS Accounts Production v24.1.0.578 07953339 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079533392022-12-31079533392023-12-31079533392023-01-012023-12-31079533392021-12-31079533392022-01-012022-12-31079533392022-12-3107953339ns15:EnglandWales2023-01-012023-12-3107953339ns14:PoundSterling2023-01-012023-12-3107953339ns10:Director12023-01-012023-12-3107953339ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107953339ns10:SmallEntities2023-01-012023-12-3107953339ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107953339ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107953339ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107953339ns10:FullAccounts2023-01-012023-12-3107953339ns10:RegisteredOffice2023-01-012023-12-3107953339ns5:CurrentFinancialInstruments2023-12-3107953339ns5:CurrentFinancialInstruments2022-12-3107953339ns5:ShareCapital2023-12-3107953339ns5:ShareCapital2022-12-3107953339ns5:RetainedEarningsAccumulatedLosses2023-12-3107953339ns5:RetainedEarningsAccumulatedLosses2022-12-3107953339ns5:LeaseholdImprovements2022-12-3107953339ns5:FurnitureFittings2022-12-3107953339ns5:MotorVehicles2022-12-3107953339ns5:ComputerEquipment2022-12-3107953339ns5:LeaseholdImprovements2023-01-012023-12-3107953339ns5:FurnitureFittings2023-01-012023-12-3107953339ns5:MotorVehicles2023-01-012023-12-3107953339ns5:ComputerEquipment2023-01-012023-12-3107953339ns5:LeaseholdImprovements2023-12-3107953339ns5:FurnitureFittings2023-12-3107953339ns5:MotorVehicles2023-12-3107953339ns5:ComputerEquipment2023-12-3107953339ns5:LeaseholdImprovements2022-12-3107953339ns5:FurnitureFittings2022-12-3107953339ns5:MotorVehicles2022-12-3107953339ns5:ComputerEquipment2022-12-3107953339ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107953339ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107953339ns5:WithinOneYear2023-12-3107953339ns5:WithinOneYear2022-12-3107953339ns5:BetweenOneFiveYears2023-12-3107953339ns5:BetweenOneFiveYears2022-12-3107953339ns5:AllPeriods2023-12-3107953339ns5:AllPeriods2022-12-31
REGISTERED NUMBER: 07953339 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NUDIE JEANS UK LTD

NUDIE JEANS UK LTD (REGISTERED NUMBER: 07953339)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NUDIE JEANS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J A Levin





REGISTERED OFFICE: 34-40 High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 07953339 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

NUDIE JEANS UK LTD (REGISTERED NUMBER: 07953339)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,695 139,271

CURRENT ASSETS
Stocks 278,394 229,087
Debtors 5 1,127,450 989,204
Cash at bank and in hand 367,016 2,516,894
1,772,860 3,735,185
CREDITORS
Amounts falling due within one year 6 1,252,645 1,404,812
NET CURRENT ASSETS 520,215 2,330,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,910

2,469,644

PROVISIONS FOR LIABILITIES 14,868 -
NET ASSETS 659,042 2,469,644

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 658,942 2,469,544
SHAREHOLDERS' FUNDS 659,042 2,469,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 January 2024 and were signed by:





J A Levin - Director


NUDIE JEANS UK LTD (REGISTERED NUMBER: 07953339)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Nudie Jeans UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for good supplied, net of returns, discounts and value added tax.
Sales of goods are recognised on sale to the customer, which is considered to be the point of delivery and when the significant risks and rewards of the goods have been passed to the customer. Retail sales are usually by cash, credit or payment card.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property-10% on cost
Fixtures and fittings-Straight line over 5 years
Motor vehicles-Straight line over 3 years
Computer equipment-Straight line over 5 years

The company's policy is to capitalise all shop fit expenditure within fixtures and fittings.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items.
Cost is determind on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties, transport and handling directly attributable to bringing the stock to its present location and condition.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

NUDIE JEANS UK LTD (REGISTERED NUMBER: 07953339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 279,358 351,851 30,150 2,744 664,103
Additions 79,294 8,022 - 4,410 91,726
Disposals - - (30,150 ) - (30,150 )
Reclassification/transfer (2,585 ) 2,585 - - -
At 31 December 2023 356,067 362,458 - 7,154 725,679
DEPRECIATION
At 1 January 2023 291,800 200,138 30,150 2,744 524,832
Charge for year 32,080 44,527 - 735 77,342
Eliminated on disposal - - (30,150 ) - (30,150 )
Reclassification/transfer (62,037 ) 61,997 - - (40 )
At 31 December 2023 261,843 306,662 - 3,479 571,984
NET BOOK VALUE
At 31 December 2023 94,224 55,796 - 3,675 153,695
At 31 December 2022 (12,442 ) 151,713 - - 139,271

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 983,592 852,478
Prepayments and accrued income 24,018 16,886
1,007,610 869,364

Amounts falling due after more than one year:
Other debtors 119,840 119,840

Aggregate amounts 1,127,450 989,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,017,783 766,850
Corporation tax 69,441 105,651
Social security and other taxes 22,061 15,237
VAT 112,415 413,175
Other creditors 3,333 1,879
Accrued expenses 27,612 102,020
1,252,645 1,404,812

NUDIE JEANS UK LTD (REGISTERED NUMBER: 07953339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 322,149 333,250
Between one and five years 358,949 601,125
681,098 934,375

8. ULTIMATE CONTROLLING PARTY

The controlling party is J A Levin.

The ultimate controlling party is Svenska Jeans Holding AB.

Principal place of business Sweden
Registration no. (Sweden) 556918-0796
Registered office Västra Hamngatan 6, 2 Tr,411 17
Göteborg,Göteborg kommun,Västra
Götalands län