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Osh Gosh Gowns Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hornsby Accounts Ltd
Office Suite
6a Market Place
Brigg
North Lincolnshire
DN20 8HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07609294
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,735 48,159
47,735 48,159
CURRENT ASSETS
Stocks 5 182,394 195,434
Debtors 6 2,003 -
Cash at bank and in hand 81,713 87,789
266,110 283,223
Creditors: Amounts Falling Due Within One Year 7 (17,564 ) (24,942 )
NET CURRENT ASSETS (LIABILITIES) 248,546 258,281
TOTAL ASSETS LESS CURRENT LIABILITIES 296,281 306,440
Creditors: Amounts Falling Due After More Than One Year 8 (110,438 ) (130,438 )
NET ASSETS 185,843 176,002
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 185,743 175,902
SHAREHOLDERS' FUNDS 185,843 176,002
Page 1
Page 2
For the year ending 31 March 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 her 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
Mrs Wendy Ashton
Director
14th November 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
Osh Gosh Gowns Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07609294 . The registered office is 32 The Rookery, Scotter, Gainsborough, Lincolnshire, DN21 3FB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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. 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:
Leasehold At cost
Plant & Machinery 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 46,422 2,190 5,672 4,687 58,971
Additions - - - 965 965
As at 31 March 2024 46,422 2,190 5,672 5,652 59,936
Depreciation
As at 1 April 2023 - 2,095 5,365 3,352 10,812
Provided during the period - 94 189 1,106 1,389
As at 31 March 2024 - 2,189 5,554 4,458 12,201
Net Book Value
As at 31 March 2024 46,422 1 118 1,194 47,735
As at 1 April 2023 46,422 95 307 1,335 48,159
5. Stocks
2024 2023
£ £
Stock 182,394 195,434
6. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security 2,003 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,562 10,756
Bank loans and overdrafts 152 -
Corporation tax 2,029 -
Other taxes and social security - 1,805
VAT 7,207 4,247
Director's loan account 1,614 8,134
17,564 24,942
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 110,438 130,438
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5