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Registered number: 06538677
Upper And Lower Leisurewear Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
D S Burge & Co Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06538677
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 524 -
524 -
CURRENT ASSETS
Debtors 6 13,356 22,890
Cash at bank and in hand 8,089 10,299
21,445 33,189
Creditors: Amounts Falling Due Within One Year 7 (42,056 ) (34,654 )
NET CURRENT ASSETS (LIABILITIES) (20,611 ) (1,465 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,087 ) (1,465 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,182 ) (26,180 )
NET LIABILITIES (33,269 ) (27,645 )
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account (33,273 ) (27,649 )
SHAREHOLDERS' FUNDS (33,269) (27,645)
Page 1
Page 2
For the year ending 31 December 2023 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 directors acknowledge their 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
Mrs Elspeth Reeves
Director
02/08/2024
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
Upper And Lower Leisurewear Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06538677 . The registered office is Unit 2 Glebe House, Armfield Close, West Molesey, Surrey, KT8 2RT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 Years
Fixtures & Fittings 4 Years
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 4)
5 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 68,000
As at 31 December 2023 68,000
Amortisation
As at 1 January 2023 68,000
As at 31 December 2023 68,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
Page 3
Page 4
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 58,541 - 58,541
Additions - 698 698
As at 31 December 2023 58,541 698 59,239
Depreciation
As at 1 January 2023 58,541 - 58,541
Provided during the period - 174 174
As at 31 December 2023 58,541 174 58,715
Net Book Value
As at 31 December 2023 - 524 524
As at 1 January 2023 - - -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 13,356 21,831
Prepayments and accrued income - 1,059
13,356 22,890
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 13,907 23,322
Bank loans and overdrafts 13,307 1,950
Other taxes and social security 2,173 1,413
VAT 3,480 6,307
Other creditors 1,354 1,333
Directors' loan accounts 7,835 329
42,056 34,654
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 13,182 26,180
13,182 26,180
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 4