Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseEmbroidery and clothing sales56truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07337982 2023-01-01 2023-12-31 07337982 2022-01-01 2022-12-31 07337982 2023-12-31 07337982 2022-12-31 07337982 c:Director1 2023-01-01 2023-12-31 07337982 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 07337982 d:Buildings d:LongLeaseholdAssets 2023-12-31 07337982 d:Buildings d:LongLeaseholdAssets 2022-12-31 07337982 d:MotorVehicles 2023-01-01 2023-12-31 07337982 d:MotorVehicles 2023-12-31 07337982 d:MotorVehicles 2022-12-31 07337982 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07337982 d:FurnitureFittings 2023-01-01 2023-12-31 07337982 d:FurnitureFittings 2023-12-31 07337982 d:FurnitureFittings 2022-12-31 07337982 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07337982 d:OfficeEquipment 2023-01-01 2023-12-31 07337982 d:OfficeEquipment 2023-12-31 07337982 d:OfficeEquipment 2022-12-31 07337982 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07337982 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07337982 d:OtherPropertyPlantEquipment 2023-12-31 07337982 d:OtherPropertyPlantEquipment 2022-12-31 07337982 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07337982 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07337982 d:CurrentFinancialInstruments 2023-12-31 07337982 d:CurrentFinancialInstruments 2022-12-31 07337982 d:Non-currentFinancialInstruments 2023-12-31 07337982 d:Non-currentFinancialInstruments 2022-12-31 07337982 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07337982 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07337982 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07337982 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07337982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07337982 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 07337982 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07337982 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 07337982 d:ShareCapital 2023-12-31 07337982 d:ShareCapital 2022-12-31 07337982 d:RetainedEarningsAccumulatedLosses 2023-12-31 07337982 d:RetainedEarningsAccumulatedLosses 2022-12-31 07337982 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07337982 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 07337982 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 07337982 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 07337982 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07337982 c:OrdinaryShareClass1 2023-12-31 07337982 c:OrdinaryShareClass1 2022-12-31 07337982 c:OrdinaryShareClass2 2023-01-01 2023-12-31 07337982 c:OrdinaryShareClass2 2023-12-31 07337982 c:OrdinaryShareClass2 2022-12-31 07337982 c:FRS102 2023-01-01 2023-12-31 07337982 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07337982 c:FullAccounts 2023-01-01 2023-12-31 07337982 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07337982 2 2023-01-01 2023-12-31 07337982 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07337982










CONSTRUCTIV CLOTHING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CONSTRUCTIV CLOTHING LIMITED
REGISTERED NUMBER:07337982

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
22,093
23,616

  
22,093
23,616

Current assets
  

Stocks
 6 
28,320
37,188

Debtors: amounts falling due within one year
 7 
95,258
85,581

Cash at bank and in hand
 8 
1,189
524

  
124,767
123,293

Creditors: amounts falling due within one year
 9 
(114,224)
(107,675)

Net current assets
  
 
 
10,543
 
 
15,618

Total assets less current liabilities
  
32,636
39,234

Creditors: amounts falling due after more than one year
 10 
(13,345)
(20,369)

  

Net assets
  
19,291
18,865


Capital and reserves
  

Called up share capital 
 13 
200
200

Profit and loss account
  
19,091
18,665

  
19,291
18,865


Page 1

 
CONSTRUCTIV CLOTHING LIMITED
REGISTERED NUMBER:07337982
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.




N James
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Constructiv Clothing Limited, 07337982, is a private company limited by shares, incorporated in England and Wales, with its registered office at 10 St Giles Business Park, Newtown, Powys, SY16 3AJ and its principal place of business at Unit 50, Mochdre Industrial Estate, Newtown, Powys, SY16 4LE.
The principal activity of the Company is clothing embroidery.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Other fixed assets
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 6).

Page 7

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 January 2023
28,530
44,500
9,603
15,056
22,017



At 31 December 2023

28,530
44,500
9,603
15,056
22,017



Depreciation


At 1 January 2023
28,140
30,288
9,021
14,103
14,538


Charge for the year on owned assets
390
-
146
239
748



At 31 December 2023

28,530
30,288
9,167
14,342
15,286



Net book value



At 31 December 2023
-
14,212
436
714
6,731



At 31 December 2022
390
14,212
582
953
7,479
Page 8

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
119,706



At 31 December 2023

119,706



Depreciation


At 1 January 2023
96,090


Charge for the year on owned assets
1,523



At 31 December 2023

97,613



Net book value



At 31 December 2023
22,093



At 31 December 2022
23,616


6.


Stocks

2023
2022
£
£

Finished goods
28,320
37,188

28,320
37,188


Page 9

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
57,355
48,101

Other debtors
26,049
25,567

Prepayments and accrued income
8,802
7,747

Deferred taxation
3,052
4,166

95,258
85,581



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,189
524

Less: bank overdrafts
(24,648)
(17,653)

(23,459)
(17,129)



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
24,648
17,653

Bank loans
7,025
6,852

Trade creditors
39,466
44,992

Other taxation and social security
35,262
22,816

Other creditors
2,005
7,963

Accruals and deferred income
5,818
7,399

114,224
107,675


Bank overdrafts are secured upon the assets of the company. 
The amount of £7,025 (2022: £6,852) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 10

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
13,345
20,369

13,345
20,369


The amount of £13,345 (2022: £20,369) included in creditors due in more than one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.


11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,025
6,852


7,025
6,852

Amounts falling due 1-2 years

Bank loans
7,202
7,025


7,202
7,025

Amounts falling due 2-5 years

Bank loans
6,142
13,345


6,142
13,345


20,369
27,222


Page 11

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Deferred taxation




2023


£






At beginning of year
4,166


Charged to profit or loss
(1,115)



At end of year
3,051

The deferred tax asset is made up as follows:

2023
2022
£
£


Fixed asset timing differences
2,929
3,312

Short term timing differences
123
854

3,052
4,166


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100

200

200



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,849 (2022: £1,835). Contributions totaling £1,146 (2022: £7,966) were payable to the fund at the balance sheet date and are
included in creditors.

Page 12

 
CONSTRUCTIV CLOTHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.


Transactions with directors

During the year the company made advances to the director of £38,926 and received repayment of £35,881. The balance outstanding as at the year end was £25,545 (2022: £21,972) which has been repaid within 9 months of the year end. Interest has been charged on the loan balance at 2.25%, total interest charge for the year is £528 (2022: £505). The loan is repayable upon demand. 

 
Page 13