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Company No: 05161405 (England and Wales)

PRIMA MODA BRIDES LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

PRIMA MODA BRIDES LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

PRIMA MODA BRIDES LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
PRIMA MODA BRIDES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTOR Jean Gladys Pas
REGISTERED OFFICE 14 Walnut Place
Ilminster
TA19 0BU
United Kingdom
COMPANY NUMBER 05161405 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
PRIMA MODA BRIDES LIMITED

BALANCE SHEET

As at 30 November 2023
PRIMA MODA BRIDES LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 74 87
74 87
Current assets
Stocks 4 5,846 5,779
Debtors 5 0 502
Cash at bank and in hand 5 5
5,851 6,286
Creditors: amounts falling due within one year 6 ( 38,588) ( 34,282)
Net current liabilities (32,737) (27,996)
Total assets less current liabilities (32,663) (27,909)
Net liabilities ( 32,663) ( 27,909)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 32,763 ) ( 28,009 )
Total shareholder's deficit ( 32,663) ( 27,909)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Prima Moda Brides Limited (registered number: 05161405) were approved and authorised for issue by the Director on 20 August 2024. They were signed on its behalf by:

Jean Gladys Pas
Director
PRIMA MODA BRIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
PRIMA MODA BRIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Prima Moda Brides Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Walnut Place, Ilminster, TA19 0BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the balance sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £32,663 (2022: £27,909) and continues to be supported by the bank and its overdraft facility. The director has confirmed that the overdraft facility will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods to customers.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 December 2022 1,134 474 1,608
At 30 November 2023 1,134 474 1,608
Accumulated depreciation
At 01 December 2022 1,047 474 1,521
Charge for the financial year 13 0 13
At 30 November 2023 1,060 474 1,534
Net book value
At 30 November 2023 74 0 74
At 30 November 2022 87 0 87

4. Stocks

2023 2022
£ £
Stocks 5,846 5,779

5. Debtors

2023 2022
£ £
Trade debtors 0 473
Other debtors 0 29
0 502

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 24,644 23,620
Trade creditors 750 1,437
Other creditors 13,194 9,225
38,588 34,282

A guarantee has been provided by the director in respect of the committed business overdraft facility included in bank overdrafts above.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100