Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 NI627464 Mr James Devine iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI627464 2023-01-31 NI627464 2024-01-31 NI627464 2023-02-01 2024-01-31 NI627464 frs-core:CurrentFinancialInstruments 2024-01-31 NI627464 frs-core:Non-currentFinancialInstruments 2024-01-31 NI627464 frs-core:FurnitureFittings 2024-01-31 NI627464 frs-core:FurnitureFittings 2023-02-01 2024-01-31 NI627464 frs-core:FurnitureFittings 2023-01-31 NI627464 frs-core:NetGoodwill 2024-01-31 NI627464 frs-core:NetGoodwill 2023-02-01 2024-01-31 NI627464 frs-core:NetGoodwill 2023-01-31 NI627464 frs-core:ShareCapital 2024-01-31 NI627464 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI627464 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI627464 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 NI627464 frs-bus:SmallEntities 2023-02-01 2024-01-31 NI627464 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 NI627464 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI627464 frs-bus:Director1 2023-02-01 2024-01-31 NI627464 frs-countries:NorthernIreland 2023-02-01 2024-01-31 NI627464 2022-01-31 NI627464 2023-01-31 NI627464 2022-02-01 2023-01-31 NI627464 frs-core:CurrentFinancialInstruments 2023-01-31 NI627464 frs-core:Non-currentFinancialInstruments 2023-01-31 NI627464 frs-core:ShareCapital 2023-01-31 NI627464 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: NI627464
Different Class Clothing Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI627464
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,500 11,500
Tangible Assets 5 3,677 6,992
9,177 18,492
CURRENT ASSETS
Stocks 6 165,423 118,366
Debtors 7 2,659 8,627
Cash at bank and in hand - 46,287
168,082 173,280
Creditors: Amounts Falling Due Within One Year 8 (111,387 ) (121,193 )
NET CURRENT ASSETS (LIABILITIES) 56,695 52,087
TOTAL ASSETS LESS CURRENT LIABILITIES 65,872 70,579
Creditors: Amounts Falling Due After More Than One Year 9 (34,613 ) (45,583 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (1,328 ) (1,328 )
NET ASSETS 29,931 23,668
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 29,831 23,568
SHAREHOLDERS' FUNDS 29,931 23,668
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Devine
Director
28/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Different Class Clothing Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI627464 . The registered office is 48-50 Carlisle Road, Londonderry, BT48 6JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 60,000
As at 31 January 2024 60,000
Amortisation
As at 1 February 2023 48,500
Provided during the period 6,000
As at 31 January 2024 54,500
Net Book Value
As at 31 January 2024 5,500
As at 1 February 2023 11,500
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 February 2023 46,500
As at 31 January 2024 46,500
Depreciation
As at 1 February 2023 39,508
Provided during the period 3,315
As at 31 January 2024 42,823
Net Book Value
As at 31 January 2024 3,677
As at 1 February 2023 6,992
6. Stocks
2024 2023
£ £
Stock 165,423 118,366
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,288 8,627
Other debtors 1,371 -
2,659 8,627
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,207 47,790
Bank loans and overdrafts 17,608 6,689
Corporation tax 3,811 3,600
Other taxes and social security 16,358 13,684
Other creditors 42,384 42,518
Accruals and deferred income 7,019 6,912
111,387 121,193
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,445 37,915
Other creditors 2,168 7,668
34,613 45,583
10. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2024 2023
£ £
Other timing differences 1,328 1,328
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Post Balance Sheet Events
There have been no significant events affecting the company since the year end. 
13. Related Party Transactions
JG Devine is regarded as a related party as defined by Financial Reporting Standard 8 “Related Party Disclosures” by virtue of being a director of Different Class Clothing Limited during the year. Included in within ‘Other creditors’ is £32,384 (2023: £32,556) owing to the director of the company. 
Different Class Hire Limited is regarded as a related party as defined by FRS102 by virtue of JG Devine being a director of Different Class Hire Limited. Included within ‘Other debtors’ is £1,371 (2023: £1,629 owed to) owed by Different Class Hire Limited by the company.
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