6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 07264807 2023-06-01 2024-05-31 07264807 2024-05-31 07264807 2023-05-31 07264807 2022-06-01 2023-05-31 07264807 2023-05-31 07264807 2022-05-31 07264807 core:NetGoodwill 2023-06-01 2024-05-31 07264807 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 07264807 core:LandBuildings 2023-06-01 2024-05-31 07264807 core:PlantMachinery 2023-06-01 2024-05-31 07264807 core:FurnitureFittings 2023-06-01 2024-05-31 07264807 core:MotorVehicles 2023-06-01 2024-05-31 07264807 bus:Director3 2023-06-01 2024-05-31 07264807 core:WithinOneYear 2024-05-31 07264807 core:WithinOneYear 2023-05-31 07264807 core:NetGoodwill 2024-05-31 07264807 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 07264807 core:LandBuildings 2023-05-31 07264807 core:PlantMachinery 2023-05-31 07264807 core:FurnitureFittings 2023-05-31 07264807 core:MotorVehicles 2023-05-31 07264807 core:LandBuildings 2024-05-31 07264807 core:PlantMachinery 2024-05-31 07264807 core:FurnitureFittings 2024-05-31 07264807 core:MotorVehicles 2024-05-31 07264807 core:ShareCapital 2024-05-31 07264807 core:ShareCapital 2023-05-31 07264807 core:RetainedEarningsAccumulatedLosses 2024-05-31 07264807 core:RetainedEarningsAccumulatedLosses 2023-05-31 07264807 core:LandBuildings 2023-05-31 07264807 core:PlantMachinery 2023-05-31 07264807 core:FurnitureFittings 2023-05-31 07264807 core:MotorVehicles 2023-05-31 07264807 bus:Director1 2023-06-01 2024-05-31 07264807 bus:SmallEntities 2023-06-01 2024-05-31 07264807 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07264807 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07264807 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07264807 bus:FullAccounts 2023-06-01 2024-05-31 07264807 core:OfficeEquipment 2023-06-01 2024-05-31 07264807 core:OfficeEquipment 2023-05-31 07264807 core:OfficeEquipment 2024-05-31
COMPANY REGISTRATION NUMBER: 07264807
Calm Attire Limited
Filleted Unaudited Financial Statements
For the year ended
31 May 2024
Calm Attire Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
61,019
77,278
Current assets
Stocks
5,472
5,278
Debtors
7
145,589
111,436
Cash at bank and in hand
136,574
81,522
----------
----------
287,635
198,236
Creditors: amounts falling due within one year
8
171,064
182,438
----------
----------
Net current assets
116,571
15,798
----------
--------
Total assets less current liabilities
177,590
93,076
Provisions
Taxation including deferred tax
15,255
14,491
----------
--------
Net assets
162,335
78,585
----------
--------
Calm Attire Limited
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
99
99
Profit and loss account
162,236
78,486
----------
--------
Shareholders funds
162,335
78,585
----------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
Mr M C Bevis
Director
Company registration number: 07264807
Calm Attire Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Venture Business Park, Gilbey Road, Grimsby, North East Lincolnshire, DN31 2UW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. (d) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax. following exceptions: (e) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
Franchise Fee
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leashold Property Improvements
-
25% reducing balance
Plant & Machinery
-
20% straight line
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
33% straight line
(i) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
(j) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(k) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(l) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 4 ).
5. Intangible assets
Goodwill
Franchise fee
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
90,000
6,600
96,600
--------
-------
--------
Amortisation
At 1 June 2023 and 31 May 2024
90,000
6,600
96,600
--------
-------
--------
Carrying amount
At 31 May 2024
--------
-------
--------
At 31 May 2023
--------
-------
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2023
24,708
130,680
12,640
20,545
14,367
202,940
Additions
2,595
1,610
670
4,875
Transfers
1,660
1,660
--------
----------
--------
--------
--------
----------
At 31 May 2024
24,708
133,275
14,250
20,545
16,697
209,475
--------
----------
--------
--------
--------
----------
Depreciation
At 1 Jun 2023
13,799
90,738
9,078
856
12,851
127,322
Charge for the year
2,727
11,194
1,059
4,922
1,232
21,134
--------
----------
--------
--------
--------
----------
At 31 May 2024
16,526
101,932
10,137
5,778
14,083
148,456
--------
----------
--------
--------
--------
----------
Carrying amount
At 31 May 2024
8,182
31,343
4,113
14,767
2,614
61,019
--------
----------
--------
--------
--------
----------
At 31 May 2023
10,909
39,942
3,562
19,689
1,516
75,618
--------
----------
--------
--------
--------
----------
7. Debtors
2024
2023
£
£
Trade debtors
143,366
109,522
Other debtors
2,223
1,914
----------
----------
145,589
111,436
----------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
49,399
54,589
Amounts owed to group undertakings
60,000
85,000
Accruals
3,641
3,703
Corporation tax
38,723
8,193
Social security and other taxes
14,027
7,947
Director loan accounts
4,691
19,860
Other creditors
583
3,146
----------
----------
171,064
182,438
----------
----------
The hire purchase creditors are secured on the relevant assets under the agreement.
9. Controlling party
The company is a 66.6% subsidiary of Calm Attire Holdings Ltd , a company registered in England and Wales.