2022-12-012023-11-302023-11-30falseNI674281REFORM CLOTHING 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REFORM CLOTHING LIMITED

Registered Number
NI674281
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 November 2023

REFORM CLOTHING LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

CHALLIS, Andrew David
DOUST, Mitchell Felix
DOWDS, Mark James
DUCKER, Andrew James
DUNLOP, Kirsten Clare, Dr

Company Secretary

DOWDS, Mark James

Registered Address

C/O A&L Goodbody
42-46 Fountain Street
Belfast
BT1 5EF

Registered Number

NI674281 (Northern Ireland)
REFORM CLOTHING LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets32,3602,679
Tangible assets435,63348,643
Investments53,444,281-
3,482,27451,322
Current assets
Stocks6115,055326,181
Debtors127,06395,655
Cash at bank and on hand1,599,0751,034,998
1,841,1931,456,834
Creditors amounts falling due within one year7(226,427)(111,662)
Net current assets (liabilities)1,614,7661,345,172
Total assets less current liabilities5,097,0401,396,494
Creditors amounts falling due after one year8(3,443,865)-
Net assets1,653,1751,396,494
Capital and reserves
Called up share capital194169
Share premium8,260,1804,806,723
Profit and loss account(6,607,199)(3,410,398)
Shareholders' funds1,653,1751,396,494
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
DOUST, Mitchell Felix
Director
Registered Company No. NI674281
REFORM CLOTHING LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are amortised over their expected useful economic lives in a manner consistent with the consumption of economic benefits
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year3222
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 223,1823,182
At 30 November 233,1823,182
Amortisation and impairment
At 01 December 22503503
Charge for year319319
At 30 November 23822822
Net book value
At 30 November 232,3602,360
At 30 November 222,6792,679
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 December 227,26881,12488,392
Additions-15,68915,689
At 30 November 237,26896,813104,081
Depreciation and impairment
At 01 December 226,88332,86639,749
Charge for year28928,41028,699
At 30 November 237,17261,27668,448
Net book value
At 30 November 239635,53735,633
At 30 November 2238548,25848,643
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions3,444,2813,444,281
At 30 November 233,444,2813,444,281
Net book value
At 30 November 233,444,2813,444,281
At 30 November 22--

Notes

1Investments in group undertakings and participating interests
6.Stocks

2023

2022

££
Finished goods115,055326,181
Total115,055326,181
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables48,24556,032
Bank borrowings and overdrafts14,384111
Taxation and social security39,07852,643
Other creditors1,971121
Accrued liabilities and deferred income122,7492,755
Total226,427111,662
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts3,443,865-
Total3,443,865-