Company Registration No. 07678682 (England and Wales)
My Apparel Limited
Unaudited accounts
for the year ended 31 July 2024
My Apparel Limited
Unaudited accounts
Contents
My Apparel Limited
Company Information
for the year ended 31 July 2024
Company Number
07678682 (England and Wales)
Registered Office
Unit D1 Imex Enterprise Park
Wigwam Lane
Hucknall
Nottingham
NG15 7SZ
Accountants
Taylor Accountancy Ltd
2 Lynmoor Court
Hucknall
Nottingham
NG15 8FT
My Apparel Limited
Statement of financial position
as at 31 July 2024
Tangible assets
24,287
39,263
Cash at bank and in hand
24,553
41,052
Creditors: amounts falling due within one year
(13,767)
(17,692)
Net current assets
52,537
42,521
Total assets less current liabilities
76,824
81,784
Provisions for liabilities
Deferred tax
(1,072)
(1,552)
Called up share capital
100
100
Profit and loss account
75,652
80,132
Shareholders' funds
75,752
80,232
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2024 and were signed on its behalf by
Mr P Burke
Director
Company Registration No. 07678682
My Apparel Limited
Notes to the Accounts
for the year ended 31 July 2024
My Apparel Limited is a private company, limited by shares, registered in England and Wales, registration number 07678682. The registered office is Unit D1 Imex Enterprise Park, Wigwam Lane, Hucknall, Nottingham, NG15 7SZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
My Apparel Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
71,519
15,500
17,836
104,855
Disposals
-
(15,500)
-
(15,500)
At 31 July 2024
73,274
-
17,836
91,110
At 1 August 2023
50,775
3,875
10,942
65,592
Charge for the year
3,383
-
1,723
5,106
On disposals
-
(3,875)
-
(3,875)
At 31 July 2024
54,158
-
12,665
66,823
At 31 July 2024
19,116
-
5,171
24,287
At 31 July 2023
20,744
11,625
6,894
39,263
Amounts falling due within one year
Trade debtors
39,871
16,891
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,837
7,284
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).