IRIS Accounts Production v24.2.0.383 11624913 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116249132023-01-31116249132024-01-31116249132023-02-012024-01-31116249132022-01-31116249132022-02-012023-01-31116249132023-01-3111624913ns15:EnglandWales2023-02-012024-01-3111624913ns14:PoundSterling2023-02-012024-01-3111624913ns10:Director12023-02-012024-01-3111624913ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3111624913ns10:SmallEntities2023-02-012024-01-3111624913ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3111624913ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3111624913ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3111624913ns10:FullAccounts2023-02-012024-01-3111624913ns10:Director22023-02-012024-01-3111624913ns10:RegisteredOffice2023-02-012024-01-3111624913ns5:CurrentFinancialInstruments2024-01-3111624913ns5:CurrentFinancialInstruments2023-01-3111624913ns5:Non-currentFinancialInstruments2024-01-3111624913ns5:Non-currentFinancialInstruments2023-01-3111624913ns5:ShareCapital2024-01-3111624913ns5:ShareCapital2023-01-3111624913ns5:RetainedEarningsAccumulatedLosses2024-01-3111624913ns5:RetainedEarningsAccumulatedLosses2023-01-3111624913ns5:FurnitureFittings2023-01-3111624913ns5:FurnitureFittings2023-02-012024-01-3111624913ns5:FurnitureFittings2024-01-3111624913ns5:FurnitureFittings2023-01-3111624913ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3111624913ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3111624913ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3111624913ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3111624913ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3111624913ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-31
REGISTERED NUMBER: 11624913 (England and Wales)










RV Clothing Limited
Trading as
Luxe Occasion Wear

Unaudited Financial Statements

for the Year Ended 31 January 2024






RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RV Clothing Limited
Trading as Luxe Occasion Wear

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Miss Celia Lupton
Miss Rachael Ronnan





REGISTERED OFFICE: 7 George Street
Whalley
Clitheroe
Lancashire
BB7 9TH





REGISTERED NUMBER: 11624913 (England and Wales)






RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 23,869 15,050

CURRENT ASSETS
Stocks 5 49,873 34,873
Debtors 6 10,353 24,925
Cash at bank and in hand 676 2,261
60,902 62,059
CREDITORS
Amounts falling due within one year 7 (76,392 ) (31,766 )
NET CURRENT (LIABILITIES)/ASSETS (15,490 ) 30,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,379

45,343

CREDITORS
Amounts falling due after more than one
year

8

(37,356

)

(38,784

)

PROVISIONS FOR LIABILITIES - (2,860 )
NET (LIABILITIES)/ASSETS (28,977 ) 3,699

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (29,077 ) 3,599
(28,977 ) 3,699

RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Balance Sheet - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Miss Celia Lupton - Director


RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. GENERAL INFORMATION

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

The address of its registered office is:
7 George Street
Whalley
Clitheroe
Lancashire
BB7 9TH

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 financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TANGIBLE FIXED ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Furniture, fitting and fixtures20% Reducing Balance


RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors 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 debtors 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.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

TRADE CREDITORS
Trade creditors 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 creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Furniture,
fitting &
equipment
£   
COST
At 1 February 2023 36,049
Additions 15,316
At 31 January 2024 51,365
DEPRECIATION
At 1 February 2023 20,999
Charge for year 6,497
At 31 January 2024 27,496
NET BOOK VALUE
At 31 January 2024 23,869
At 31 January 2023 15,050

5. STOCKS
2024 2023
£    £   
Finished goods and goods for resale 49,873 34,873

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 10,749
Amounts owed by participating interests - 7,906
Provision for PAYE Refund 5,747 6,270
VAT 3,920 -
Prepayments 686 -
10,353 24,925

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and borrowings (see note 9) 5,000 9,919
Trade creditors 17,395 9,041
Amounts owed to participating interests 32,456 -
Corporation tax 182 4,517
VAT - 5,931
Directors' current accounts 18,052 1,888
Accruals 3,307 470
76,392 31,766

RV Clothing Limited (Registered number: 11624913)
Trading as Luxe Occasion Wear

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 28,529 34,167
Other loans (see note 9) 8,827 4,617
37,356 38,784

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,529 14,167

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 4,919
Bank loans 5,000 5,000
5,000 9,919

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,000 5,000
Other borrowings 8,827 4,617
13,827 9,617

Amounts falling due between two and five years:
Bank loans - 2-5 years 15,000 15,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,529 14,167