Registration number:
Le Shark Apparel Limited
for the Year Ended 31 March 2024
Le Shark Apparel Limited
Contents
Company Information |
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Statement Financial Position |
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Notes to the Unaudited Financial Statements |
Le Shark Apparel Limited
Company Information
Directors |
Mr RK Passi Mr A Spence |
Company secretary |
Mr A Spence |
Registered office |
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Le Shark Apparel Limited
(Registration number: 08737148)
Statement Financial Position as at 31 March 2024
Note |
2024 |
2023 |
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Non Current Assets |
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Intangible assets |
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Current assets |
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Receivables |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Net liabilities |
( |
( |
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Equity |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
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For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
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Le Shark Apparel Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Le Shark Apparel Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Asset class |
Amortisation method and rate |
Patents |
20% Straight Line Basis |
Trade Receivables
Trade Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade Payables
Trade Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Le Shark Apparel Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions acquired separately |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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Amortisation charge |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Receivables |
Current |
2024 |
2023 |
Other receivables |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Other creditors |
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Le Shark Apparel Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Expenditure with and payables to related parties
2024 |
Entities with joint control or significant influence |
Purchase of property or other assets |
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Amounts payable to related party |
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2023 |
Entities with joint control or significant influence |
Purchase of property or other assets |
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Amounts payable to related party |
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