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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
Page
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My Apparel Limited Company Information for the year ended 31 July 2024
Director
Mr P Burke
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
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My Apparel Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,287 
39,263 
Current assets
Inventories
1,880 
2,270 
Debtors
39,871 
16,891 
Cash at bank and in hand
24,553 
41,052 
66,304 
60,213 
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)
Net assets
75,752 
80,232 
Capital and reserves
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
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My Apparel Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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
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.
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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 
Additions
1,755 
- 
- 
1,755 
Disposals
- 
(15,500)
- 
(15,500)
At 31 July 2024
73,274 
- 
17,836 
91,110 
Depreciation
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 
Net book value
At 31 July 2024
19,116 
- 
5,171 
24,287 
At 31 July 2023
20,744 
11,625 
6,894 
39,263 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
1,880 
2,270 
1,880 
2,270 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
39,871 
16,891 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,143 
7,222 
Trade creditors
67 
276 
Taxes and social security
6,837 
7,284 
Accruals
2,720 
2,910 
13,767 
17,692 
8
Share capital
2024 
2023 
£ 
£ 
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).
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