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Logo On Report
Registered Number: 08554775
England and Wales

 

 

 

MPIRE CLOTHING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,912    32,841 
1,912    32,841 
Current assets      
Stocks 9,800    19,422 
Debtors   6,135 
Cash at bank and in hand 1,327    1,175 
11,127    26,732 
Creditors: amount falling due within one year (39,958)   (85,845)
Net current assets (28,831)   (59,113)
 
Total assets less current liabilities (26,919)   (26,272)
Net assets (26,919)   (26,272)
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account (26,921)   (26,274)
Shareholders' funds (26,919)   (26,272)
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 November 2024 and were signed on its behalf by:


-------------------------------
Barbara Astle
Director
1
General Information
Mpire Clothing Ltd is a private company, limited by shares, registered in England and Wales, registration number 08554775, registration address Bank House, 6-8 Church Street, Adlington, Chorley, PR7 4EX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
As at the balance sheet date, the company had net current liabilities of £32,484 (2021: £33,731). The directors consider the company to be a going concern and offer their continuing support.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 200,000    200,000 
Additions  
Disposals  
At 30 June 2024 200,000    200,000 
Amortisation
At 01 July 2023 200,000    200,000 
Charge for year  
On disposals  
At 30 June 2024 200,000    200,000 
Net book values
At 30 June 2024  
At 30 June 2023  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 July 2023 30,312    7,303    759    38,374 
Additions      
Disposals (30,312)       (30,312)
At 30 June 2024   7,303    759    8,062 
Depreciation
At 01 July 2023   4,923    610    5,533 
Charge for year   595    22    617 
On disposals      
At 30 June 2024   5,518    632    6,150 
Net book values
Closing balance as at 30 June 2024   1,785    127    1,912 
Opening balance as at 01 July 2023 30,312    2,380    149    32,841 


5.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2