Le Shark Apparel Limited 08737148 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is an IP holding company. Digita Accounts Production Advanced 6.30.9574.0 true true 08737148 2023-04-01 2024-03-31 08737148 2024-03-31 08737148 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2024-03-31 08737148 core:RetainedEarningsAccumulatedLosses 2024-03-31 08737148 core:ShareCapital 2024-03-31 08737148 core:CurrentFinancialInstruments 2024-03-31 08737148 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08737148 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 08737148 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-03-31 08737148 bus:SmallEntities 2023-04-01 2024-03-31 08737148 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08737148 bus:FilletedAccounts 2023-04-01 2024-03-31 08737148 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08737148 bus:RegisteredOffice 2023-04-01 2024-03-31 08737148 bus:CompanySecretary1 2023-04-01 2024-03-31 08737148 bus:Director2 2023-04-01 2024-03-31 08737148 bus:Director5 2023-04-01 2024-03-31 08737148 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-04-01 2024-03-31 08737148 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08737148 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 08737148 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-01 2024-03-31 08737148 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchasePropertyOrOtherAssets 2023-04-01 2024-03-31 08737148 countries:EnglandWales 2023-04-01 2024-03-31 08737148 2023-03-31 08737148 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 08737148 2022-04-01 2023-03-31 08737148 2023-03-31 08737148 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-03-31 08737148 core:RetainedEarningsAccumulatedLosses 2023-03-31 08737148 core:ShareCapital 2023-03-31 08737148 core:CurrentFinancialInstruments 2023-03-31 08737148 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08737148 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 08737148 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-31 08737148 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchasePropertyOrOtherAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08737148

Le Shark Apparel Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Le Shark Apparel Limited

Contents

Company Information

1

Statement Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Le Shark Apparel Limited

Company Information

Directors

Mr RK Passi

Mr A Spence

Company secretary

Mr A Spence

Registered office

Unit 14 Park Seventeen
Whitefield
Manchester
M45 8FJ

 

Le Shark Apparel Limited

(Registration number: 08737148)
Statement Financial Position as at 31 March 2024

Note

2024
£

2023
£

Non Current Assets

 

Intangible assets

4

24,762

24,189

Current assets

 

Receivables

5

10,000

10,000

Creditors: Amounts falling due within one year

6

(188,599)

(176,076)

Net current liabilities

 

(178,599)

(166,076)

Net liabilities

 

(153,837)

(141,887)

Equity

 

Called up share capital

7

10,000

10,000

Retained earnings

(163,837)

(151,887)

Shareholders' deficit

 

(153,837)

(141,887)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Mr A Spence
Director

 

Le Shark Apparel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14 Park Seventeen
Whitefield
Manchester
M45 8FJ
England

These financial statements were authorised for issue by the Board on 18 September 2024.

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Le Shark Apparel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

176,076

176,076

Additions acquired separately

12,524

12,524

At 31 March 2024

188,600

188,600

Amortisation

At 1 April 2023

151,887

151,887

Amortisation charge

11,951

11,951

At 31 March 2024

163,838

163,838

Carrying amount

At 31 March 2024

24,762

24,762

At 31 March 2023

24,189

24,189

5

Receivables

Current

2024
£

2023
£

Other receivables

10,000

10,000

 

10,000

10,000

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

188,599

176,076

 

Le Shark Apparel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

Costs have been incurred in the year by the related party in relation to the registration of trademarks, patents and licences.
 

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Purchase of property or other assets

12,524

Amounts payable to related party

178,600

2023

Entities with joint control or significant influence
£

Purchase of property or other assets

13,610

Amounts payable to related party

166,076