IRIS Accounts Production v24.2.0.383 04646499 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046464992023-03-31046464992024-03-31046464992023-04-012024-03-31046464992022-03-31046464992022-04-012023-03-31046464992023-03-3104646499ns15:EnglandWales2023-04-012024-03-3104646499ns14:PoundSterling2023-04-012024-03-3104646499ns10:Director12023-04-012024-03-3104646499ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104646499ns10:SmallEntities2023-04-012024-03-3104646499ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104646499ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104646499ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104646499ns10:FullAccounts2023-04-012024-03-310464649912023-04-012024-03-3104646499ns10:OrdinaryShareClass12023-04-012024-03-3104646499ns10:OrdinaryShareClass22023-04-012024-03-3104646499ns10:Director22023-04-012024-03-3104646499ns10:Director32023-04-012024-03-3104646499ns10:RegisteredOffice2023-04-012024-03-3104646499ns5:CurrentFinancialInstruments2024-03-3104646499ns5:CurrentFinancialInstruments2023-03-3104646499ns5:ShareCapital2024-03-3104646499ns5:ShareCapital2023-03-3104646499ns5:RetainedEarningsAccumulatedLosses2024-03-3104646499ns5:RetainedEarningsAccumulatedLosses2023-03-3104646499ns5:NetGoodwill2023-04-012024-03-3104646499ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104646499ns5:PlantMachinery2023-04-012024-03-3104646499ns5:FurnitureFittings2023-04-012024-03-3104646499ns5:ComputerEquipment2023-04-012024-03-3104646499ns5:NetGoodwill2023-03-3104646499ns5:NetGoodwill2024-03-3104646499ns5:NetGoodwill2023-03-3104646499ns5:PlantMachinery2023-03-3104646499ns5:FurnitureFittings2023-03-3104646499ns5:ComputerEquipment2023-03-3104646499ns5:PlantMachinery2024-03-3104646499ns5:FurnitureFittings2024-03-3104646499ns5:ComputerEquipment2024-03-3104646499ns5:PlantMachinery2023-03-3104646499ns5:FurnitureFittings2023-03-3104646499ns5:ComputerEquipment2023-03-3104646499ns5:Secured2024-03-3104646499ns5:Secured2023-03-3104646499ns10:OrdinaryShareClass12024-03-3104646499ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 04646499 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Tuxedo Junction Limited

Tuxedo Junction Limited (Registered number: 04646499)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tuxedo Junction Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Mrs S H Wratten
N A Wratten
R A Wratten





REGISTERED OFFICE: 1 Westgate Retail Park
The Island
Westgate Street
Gloucester
Gloucestershire
GL1 2RU





REGISTERED NUMBER: 04646499 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Tuxedo Junction Limited (Registered number: 04646499)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,625 66,506
70,625 66,506

CURRENT ASSETS
Stocks 5,000 5,000
Cash at bank and in hand 156 29
5,156 5,029
CREDITORS
Amounts falling due within one year 6 46,377 45,890
NET CURRENT LIABILITIES (41,221 ) (40,861 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,404

25,645

PROVISIONS FOR LIABILITIES 12,544 11,621
NET ASSETS 16,860 14,024

CAPITAL AND RESERVES
Called up share capital 8 110 110
Retained earnings 16,750 13,914
SHAREHOLDERS' FUNDS 16,860 14,024

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Tuxedo Junction Limited (Registered number: 04646499)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





N A Wratten - Director


Tuxedo Junction Limited (Registered number: 04646499)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tuxedo Junction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the sums received for the hire and sale of formal wear and goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of formal wear is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Assets for Hire - 25% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Tuxedo Junction Limited (Registered number: 04646499)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Tuxedo Junction Limited (Registered number: 04646499)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 57,000
AMORTISATION
At 1 April 2023
and 31 March 2024 57,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Assets and Computer
for Hire fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 267,052 30,550 6,233 303,835
Additions 26,761 - - 26,761
At 31 March 2024 293,813 30,550 6,233 330,596
DEPRECIATION
At 1 April 2023 206,964 24,291 6,074 237,329
Charge for year 21,335 1,252 55 22,642
At 31 March 2024 228,299 25,543 6,129 259,971
NET BOOK VALUE
At 31 March 2024 65,514 5,007 104 70,625
At 31 March 2023 60,088 6,259 159 66,506

Tuxedo Junction Limited (Registered number: 04646499)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 2,135 7,325
Trade creditors 14,498 14,511
Corporation tax 8,071 4,239
Social security and other taxes 2,583 3,043
VAT 3,521 2,861
Other creditors 9,200 9,545
Directors' current accounts 455 1,866
Accruals and deferred income 5,914 2,500
46,377 45,890

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 2,135 7,325

The bank loans and overdraft are secured by a fixed and floating charge over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary A £1 100 100
10 Ordinary B £1 10 10
110 110