Registered number
12175441
Worcester Menswear Ltd
Filleted Accounts
31 August 2023
Worcester Menswear Ltd
Registered number: 12175441
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 34,076 31,687
Current assets
Stocks 44,398 57,398
Debtors 4 9,278 -
Cash at bank and in hand 21,748 61,744
75,424 119,142
Creditors: amounts falling due within one year 5 (68,976) (105,749)
Net current assets 6,448 13,393
Total assets less current liabilities 40,524 45,080
Creditors: amounts falling due after more than one year 6 (38,969) (44,135)
Net assets 1,555 945
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,455 845
Shareholders' funds 1,555 945
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sundeep Singh Khela
Director
Approved by the board on 22 August 2024
Worcester Menswear Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 14
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 36,172
Additions 6,175
At 31 August 2023 42,347
Depreciation
At 1 September 2022 4,485
Charge for the year 3,786
At 31 August 2023 8,271
Net book value
At 31 August 2023 34,076
At 31 August 2022 31,687
4 Debtors 2023 2022
£ £
Director account debit balance 9,278 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 40,884 72,549
Taxation and social security costs 26,786 20,384
Other creditors 1,306 12,816
68,976 105,749
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 38,969 44,135
7 Other information
Worcester Menswear Ltd is a private company limited by shares and incorporated in England. Its registered office is:
79 Ward Road
Wolverhampton
West Midlands
WV
8 Going concern
The financial statements have been prepared on the basis that the company is a going concern and that the directors will continue to support the company.
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