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Registered number: 11620226
Suits U Ltd
Financial Statements
For The Year Ended 31 October 2023
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11620226
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 15,000 10,150
Cash at bank and in hand 683 1,272
15,683 11,422
Creditors: Amounts Falling Due Within One Year 6 (9,523 ) (6,133 )
NET CURRENT ASSETS (LIABILITIES) 6,160 5,289
TOTAL ASSETS LESS CURRENT LIABILITIES 6,160 5,289
NET ASSETS 6,160 5,289
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 6,159 5,288
SHAREHOLDERS' FUNDS 6,160 5,289
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Syed Bokari
Director
12/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Suits U Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11620226 . The registered office is 72 County Mall, Crawley, West Sussex, RH10 1FD.
2. Accounting Policies
2.1. Basis of Preparation of 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. 
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.4. 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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
2.5. Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. 
3. Average Number of Employees
The average number of employees during the year was NIL (2021 - NIL).  NIL (2022: NIL)
- -
4. Stocks
2023 2022
£ £
Stock 15,000 10,150
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 7,308 872
Accrued expenses 2,215 1,135
Director's loan account - 4,126
9,523 6,133
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4