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REGISTERED NUMBER: 01791520 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2024

for

PINDER FASHIONS LIMITED

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

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


PINDER FASHIONS LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: B Singh Benning
G Singh Benning
B Singh Benning
G Singh Benning





SECRETARY: B Singh Benning





REGISTERED OFFICE: Warren Trading, Beach Walk
Dawlish Warren
Dawlish
Devon
EX7 0NF





REGISTERED NUMBER: 01791520 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 860,844 879,309
Investment property 7 5,755,319 5,325,000
6,616,163 6,204,309

CURRENT ASSETS
Stocks 280,543 487,086
Debtors 8 104,477 183,891
Cash at bank and in hand 366,929 656,866
751,949 1,327,843
CREDITORS
Amounts falling due within one year 9 (462,358 ) (555,315 )
NET CURRENT ASSETS 289,591 772,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,905,754

6,976,837

CREDITORS
Amounts falling due after more than one
year

10

(1,422,356

)

(1,639,340

)

PROVISIONS FOR LIABILITIES 12 (151,776 ) (124,000 )
NET ASSETS 5,331,622 5,213,497

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Balance Sheet - continued
31 JANUARY 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 18,000 18,000
Non - distributable reserve 1,877,925 1,877,925
Retained earnings 3,435,697 3,317,572
SHAREHOLDERS' FUNDS 5,331,622 5,213,497

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





G Singh Benning - Director


PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024


1. COMPANY INFORMATION

Pinder Fashions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected economic useful life as follows:

Goodwill - fully amortised

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold land and buildings - Straight line over the life of the lease
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

Investment property
Certain of the company's properties are held for long-term investment. Investment properties are accounted for as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based upon selling price less anticipated costs to completion and selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

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.

Going concern
The financial statements have been prepared on a going concern basis.

The company is reliant on the support of the bank in the form of a long term commercial loan and an overdraft facility. The loan is subject to a fixed agreement and the overdraft, similar to such facilities, is repayable on demand.

The directors consider that, based on current information available and their financial projections, the company will be able to operate within the overdraft facility and meet the loan repayments when they fall due. The directors also have no reason to believe that the bank will not renew the overdraft facility at the current level. Therefore they consider that the company has sufficient financial resources to meet its requirements for the forseeable future and that the going concern basis is appropriate.

If the basis were not appropriate the financial statements would need to be adjusted to reduce the value of the assets to their realisable values and to provide for additional liabilities that would arise as a consequence.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 28 ) .

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 20,000
AMORTISATION
At 1 February 2023
and 31 January 2024 20,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

6. TANGIBLE FIXED ASSETS
Leasehold Fixtures
land and and Motor
buildings fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 1,135,234 52,950 26,747 1,214,931
Additions - 13,496 - 13,496
At 31 January 2024 1,135,234 66,446 26,747 1,228,427
DEPRECIATION
At 1 February 2023 293,021 33,495 9,106 335,622
Charge for year 22,191 5,360 4,410 31,961
At 31 January 2024 315,212 38,855 13,516 367,583
NET BOOK VALUE
At 31 January 2024 820,022 27,591 13,231 860,844
At 31 January 2023 842,213 19,455 17,641 879,309


PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 5,325,000
Additions 430,319
At 31 January 2024 5,755,319
NET BOOK VALUE
At 31 January 2024 5,755,319
At 31 January 2023 5,325,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2009 628,508
Valuation in 2013 (500,000 )
Valuation in 2017 179,495
Valuation in 2018 500,000
Valuation in 2023 1,069,922
Cost 3,877,394
5,755,319

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 865 122
Other debtors 18,218 745
Directors' current accounts 69,920 126,936
Prepayments 15,474 56,088
104,477 183,891

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 108,823 191,838
Trade creditors 76,951 132,038
Tax 106,394 144,452
Social security and other taxes 2,857 (931 )
VAT 61,246 21,290
Other creditors 19,827 248
Accruals and deferred income 86,260 66,380
462,358 555,315

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 108,823 191,838
Bank loans - 2-5 years 226,469 483,270
Bank loans more than 5 years
by instalments 1,087,062 964,230
Preference shares 2 2
1,422,356 1,639,340

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 1,087,062 964,230
1,087,062 964,230

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,531,177 1,831,176

12. PROVISIONS FOR LIABILITIES

The other provision relates to dilapidation costs at the balance sheet date on the properties of £124,000 ( 2023 - £124,000).

13. OTHER FINANCIAL COMMITMENTS

As at 31 January 2024 the company had annual commitments under non - cancellable operating leases of £849,467 ((2023 - £899,504) in respect of land and buildings. The operating leases relate to commitments over periods of 5 and 80 years.

PINDER FASHIONS LIMITED (REGISTERED NUMBER: 01791520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
G Singh Benning
Balance outstanding at start of year 114,340 (30 )
Amounts advanced - 694,370
Amounts repaid (79,585 ) (580,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,755 114,340

B Singh Benning
Balance outstanding at start of year 119 (30 )
Amounts advanced 770 149
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 889 119

B Singh Benning
Balance outstanding at start of year 119 (30 )
Amounts advanced 5,015 149
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,134 119

G Singh Benning
Balance outstanding at start of year 12,358 (30 )
Amounts advanced 16,785 12,388
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,143 12,358

15. RELATED PARTY DISCLOSURES

During the year, an amount was advanced to a related party totalling £18,000. The amount was repaid in full within 9 months of the year end.

16. CONTROL

The controlling party is the Singh Benning family.