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REGISTERED NUMBER: 04637128 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

THE STITCH FACTORY LIMITED

THE STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)






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


THE STITCH FACTORY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: C D Bentley





REGISTERED OFFICE: Unit 2e Nursery Works
100 Little London Road
Sheffield
S8 0UJ





REGISTERED NUMBER: 04637128 (England and Wales)





ACCOUNTANTS: Jones Thorne Limited
400-402 Richmond Road
Sheffield
South Yorkshire
S13 8LZ

THE STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,703 34,966

CURRENT ASSETS
Stocks 27,466 25,552
Debtors 5 22,757 39,529
Cash at bank and in hand 50,267 40,391
100,490 105,472
CREDITORS
Amounts falling due within one year 6 42,299 44,369
NET CURRENT ASSETS 58,191 61,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

86,894

96,069

CREDITORS
Amounts falling due after more than
one year

7

(13,152

)

(23,404

)

PROVISIONS FOR LIABILITIES (6,785 ) (8,265 )
NET ASSETS 66,957 64,400

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 66,956 64,399
66,957 64,400

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 director acknowledges his 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 STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)

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 director and authorised for issue on 30 October 2024 and were signed by:





C D Bentley - Director


THE STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

The Stitch Factory 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

THE STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 139,117 23,674 17,353 127,998 308,142
Additions - - - 895 895
At 31 January 2024 139,117 23,674 17,353 128,893 309,037
DEPRECIATION
At 1 February 2023 111,351 22,740 17,016 122,069 273,176
Charge for year 5,548 184 67 1,359 7,158
At 31 January 2024 116,899 22,924 17,083 123,428 280,334
NET BOOK VALUE
At 31 January 2024 22,218 750 270 5,465 28,703
At 31 January 2023 27,766 934 337 5,929 34,966

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 16,828 33,183
Other debtors 5,929 6,346
22,757 39,529

THE STITCH FACTORY LIMITED (REGISTERED NUMBER: 04637128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,181 9,928
Trade creditors 10,813 4,629
Taxation and social security 6,787 12,122
Other creditors 14,518 17,690
42,299 44,369

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,152 23,404

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C D Bentley.