Tweedy Clothing Ltd 12211661 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Retail sale via stalls and markets of textiles, clothing and footwear Digita Accounts Production Advanced 6.30.9574.0 true 12211661 2023-02-01 2024-01-31 12211661 2024-01-31 12211661 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 12211661 bus:Micro-entities 2023-02-01 2024-01-31 12211661 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12211661 bus:FilletedAccounts 2023-02-01 2024-01-31 12211661 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12211661 bus:RegisteredOffice 2023-02-01 2024-01-31 12211661 bus:Director1 2023-02-01 2024-01-31 12211661 bus:Director2 2023-02-01 2024-01-31 12211661 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12211661 countries:EnglandWales 2023-02-01 2024-01-31 12211661 2022-02-01 2023-01-31 12211661 2023-01-31 12211661 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 12211661

Tweedy Clothing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Tweedy Clothing Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

3

 

Tweedy Clothing Ltd

Company Information

Directors

Miss Cacey Barks

Mr Joshua Bland

Registered office

134 Obelisk Road
Southampton
Hampshire
SO19 9DP

 

Tweedy Clothing Ltd

Directors' Report for the Year Ended 31 January 2024

The directors present their report and the financial statements for the year ended 31 January 2024.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Going concern

The Directors have prepared these financial statements on a going concern basis, anticipating that the Company will continue in operational existence for the foreseeable future.

During the financial year, the Company incurred losses primarily due to the costs associated with its retail location.This retail space has since been closed as part of a strategic decision to reduce fixed overheads and improve financial resilience. The termination of the retail lease has already led to a substantial monthly reduction in overhead costs, directly improving the Company’s liquidity, cash flow, and operational flexibility.

The Directors have undertaken a restructuring plan aimed at driving sustainable profitability.This includes focusing on the Company’s expanding wholesale business and enhancing other profitable channels such as events and online sales. The Company also now has access to an improved storage facility, streamlining inventory management and order fulfillment. Additionally, a renewed emphasis on digital marketing will look to optimise online sales channels.

In terms of financing, the Directors have secured favorable adjustments to existing obligations through a private loan with manageable repayment terms starting in January 2025.

The Directors confirm they are prepared to further fund the Company as necessary to meet its obligations. The restructuring of overheads, which has reduced monthly outgoings places the Company in a stronger financial position and enables cash flow to be directed toward clearing remaining liabilities and supporting future growth.

The Directors have reviewed the Company’s current financial position, cash flow forecasts, and projected business activities, and believe the Company has adequate resources to meet its liabilities as they fall due. Although formal financial forecasts are not yet available, the restructuring actions taken support the Directors' confidence in the Company’s return to profitability.

Accordingly, the Directors are confident that the Company remains a going concern, and these financial statements have been prepared on this basis.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Miss Cacey Barks
Director

.........................................
Mr Joshua Bland
Director

 

Tweedy Clothing Ltd

(Registration number: 12211661)
Balance Sheet as at 31 January 2024

2024
£

2023
£

Fixed assets

23,310

5,036

Current assets

25,433

20,287

Prepayments and accrued income

-

852

Creditors: Amounts falling due within one year

(133,201)

(46,063)

Net current liabilities

(107,768)

(24,924)

Total assets less current liabilities

(84,458)

(19,888)

Accruals and deferred income

-

(215)

 

(84,458)

(20,103)

Capital and reserves

(84,458)

(20,103)

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
134 Obelisk Road
Southampton
Hampshire
SO19 9DP

These financial statements were authorised for issue by the Board on 31 October 2024.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Tweedy Clothing Ltd

(Registration number: 12211661)
Balance Sheet as at 31 January 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Miss Cacey Barks
Director

.........................................
Mr Joshua Bland
Director