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REGISTERED NUMBER: 02249030 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Guide Clothing Limited

Guide Clothing Limited (Registered number: 02249030)






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

Chartered Certified Accountants' Report 8

Guide Clothing Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R J Benson
I Benson





SECRETARY: Mrs J Benson





REGISTERED OFFICE: Charnwood Accountants
The Point, Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ





REGISTERED NUMBER: 02249030 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Guide Clothing Limited (Registered number: 02249030)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,311 305,106
Investments 5 21,500 21,500
332,811 326,606

CURRENT ASSETS
Stocks 6 407,911 571,092
Debtors 7 1,137,934 432,949
Cash at bank and in hand 42,721 131,280
1,588,566 1,135,321
CREDITORS
Amounts falling due within one year 8 533,315 300,959
NET CURRENT ASSETS 1,055,251 834,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,388,062

1,160,968

CREDITORS
Amounts falling due after more than one year 9 17,500 27,500
NET ASSETS 1,370,562 1,133,468

CAPITAL AND RESERVES
Called up share capital 11 22,500 25,000
Capital redemption reserve 2,500 -
Other reserves 25,000 25,000
Retained earnings 1,320,562 1,083,468
SHAREHOLDERS' FUNDS 1,370,562 1,133,468

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.

Guide Clothing Limited (Registered number: 02249030)

Balance Sheet - continued
31 January 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 31 October 2024 and were signed on its behalf by:





R J Benson - Director


Guide Clothing Limited (Registered number: 02249030)

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

1. STATUTORY INFORMATION

Guide Clothing 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. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 33% on cost and 25% on reducing balance
Fixtures and fittings - 33% on cost and 25% on reducing balance

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 good include labour and attributable overheads.

At each balance sheet 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.

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.


Guide Clothing Limited (Registered number: 02249030)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

The contributions are recognised as an expense in profit and loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 February 2023 300,958 145,465 325,263 771,686
Additions - - 8,225 8,225
At 31 January 2024 300,958 145,465 333,488 779,911
DEPRECIATION
At 1 February 2023 - 145,465 321,115 466,580
Charge for year - - 2,020 2,020
At 31 January 2024 - 145,465 323,135 468,600
NET BOOK VALUE
At 31 January 2024 300,958 - 10,353 311,311
At 31 January 2023 300,958 - 4,148 305,106

Guide Clothing Limited (Registered number: 02249030)

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

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 February 2023
and 31 January 2024 21,500
NET BOOK VALUE
At 31 January 2024 21,500
At 31 January 2023 21,500

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 407,911 571,092

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 325,868 378,606
Other debtors 812,066 54,343
1,137,934 432,949

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 204,819 309,511
Taxation and social security 126,720 185,753
Other creditors 191,776 (204,305 )
533,315 300,959

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 10) 17,500 27,500

Guide Clothing Limited (Registered number: 02249030)

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

10. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,500 17,500

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
25,000 Ordinary £1 22,500 25,000

On 31 March 2023, 2,500 shares were bought back and remaining shares totalled 22,500.

12. PENSION COMMITMENTS

The company does not operate a defined benefit pension scheme but a defined contribution pension scheme. The company makes contributions to its pension scheme for employees, including directors when required. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £5,349 were due to the fund. These are included in other creditors.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr I and Mrs J Benson on the basis of their shareholdings.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Guide Clothing Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Guide Clothing Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Guide Clothing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Guide Clothing Limited and state those matters that we have agreed to state to the Board of Directors of Guide Clothing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Guide Clothing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Guide Clothing Limited. You consider that Guide Clothing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Guide Clothing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


Date: .............................................