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Registered number: 13399010














THOMAS PINK SHIRTMAKER LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MAY 2022

 
THOMAS PINK SHIRTMAKER LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
THOMAS PINK SHIRTMAKER LIMITED
REGISTERED NUMBER:13399010

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2022

2022
Note
£

Fixed assets
  

Intangible assets
 4 
32,044

Current assets
  

Stocks
  
2,234,347

Debtors: amounts falling due within one year
 5 
847,626

Cash at bank and in hand
  
280,821

  
3,362,794

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(5,508,460)

Net current (liabilities)/assets
  
 
 
(2,145,666)

  

Net (liabilities)/assets
  
(2,113,622)


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
(2,113,623)

  
(2,113,622)


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 27 September 2024.




M A Rivers
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
THOMAS PINK SHIRTMAKER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2022

1.


General information

Thomas Pink Shirtmaker Limited is a limited liability company registered in England and Wales. Its registered office address is at Suite 1, 7th Floor 50 Broadway, London, SW1H 0BL.
 
The principal activity of the Company during the period was that of selling clothing.
The Company was incorporated and started trading on 14 May 2021.

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

Going concern

The Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. The Director has obtained assurance from the shareholders that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
THOMAS PINK SHIRTMAKER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.4

Turnover

Turnover comprises revenue recognised by the Company in respect of goods sold in the year exclusive of trade discounts and excluding value added tax. 
 
Revenue is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer.

 
2.5

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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 reporting 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.

Page 3

 
THOMAS PINK SHIRTMAKER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2022

3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Intangible assets




Computer software

£



Cost


Additions - internal
32,044



At 31 May 2022

32,044






Net book value



At 31 May 2022
32,044




5.


Debtors

2022
£


Amounts owed by group undertakings
403,632

Other debtors
139,820

Called up share capital not paid
1

Prepayments and accrued income
304,173

847,626


Page 4

 
THOMAS PINK SHIRTMAKER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2022

6.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
323,534

Amounts owed to group undertakings
5,126,209

Other taxation and social security
14,991

Other creditors
15,979

Accruals and deferred income
27,747

5,508,460


Amounts owed to group undertakings include loans of £3,232,601 which are secured by a fixed and floating charge over the assets of the Company.


7.


Share capital

2022
£
Allotted, called up and fully paid


1 Ordinary shares share of £1
1


On incorporation, 1 Ordinary share was issued at a nominal value of £1.


8.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,274. Contributions totalling £5,305 were payable to the fund at the reporting date and are included in creditors.


9.


Controlling party

The parent company is Lisroyan Group Holdings LLC, a company registered in Delaware, USA.

Page 5

 
THOMAS PINK SHIRTMAKER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2022

10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 May 2022 was qualified.

The qualification in the audit report was as follows:
We were not appointed as auditor of the company until after 31 May 2022 and thus did not observe the counting of physical inventories at the end of the period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 May 2022, which are included in the balance sheet at £2,234,347, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

The audit report was signed on 27 September 2024 by Sean Brennan FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 6