REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
KATZ DANCEWEAR LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
KATZ DANCEWEAR LIMITED |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Contents of the Financial Statements |
for the year ended 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KATZ DANCEWEAR LIMITED |
Company Information |
for the year ended 29 FEBRUARY 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
155 Wellingborough Road |
Rushden |
Northamptonshire |
NN10 9TB |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Balance Sheet |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Balance Sheet - continued |
29 FEBRUARY 2024 |
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 financial statements were approved by the director and authorised for issue on |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Notes to the Financial Statements |
for the year ended 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Katz Dancewear Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the total amount receivable by the company for the goods supplied excluding VAT. Turnover is recognised when delivery of goods takes place. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures, fittings and office equipment | - |
Motor vehicles | - |
Stock and work in progress |
Stock and work in progress are valued at the lower of cost and net realisable value. The cost of work in progress and finished goods comprises materials, direct labour and attributable production overheads. Net realisable value based on the estimated selling price after taking into account all further costs to be incurred on completion and disposal. |
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. |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals payable under the operating leases are charged in the profit and loss account on a straight line basis over the lease term. |
Assets held under finance lease contracts are capitalised and depreciated in line with the company's depreciation policy. The finance costs relating to the obligation are charged to the profit and loss account on a systematic basis over the life of the relevant contract. |
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. |
Fixed asset investments |
Fixed asset investments are stated at historical cost less provision of diminution of value. |
3. | EMPLOYEES |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
and |
Freehold | Plant and | office | Motor |
property | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
Cost | £420,761 | £420,761 |
Aggregate depreciation | £203,672 | £199,241 |
Value of land in freehold land & buildings | £217,089 | £221,520 |
Included within the net book value of tangible assets is £117,450 (2023 : £130,500) in respect of assets held under finance lease agreements. Depreciation for the year on these assets was £13,050 (2023 - £14,500). |
5. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
6. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials and work in progress |
Finished goods |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 110,737 | 112,103 |
The hire purchase contracts are secured upon the assets to which they relate. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | 1 | 2,498 | 2,498 |
Ordinary non voting shares | 0.10 | 60,005 | 60,005 |
62,503 | 62,503 |
KATZ DANCEWEAR LIMITED (REGISTERED NUMBER: 01437598) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
12. | CALLED UP SHARE CAPITAL - continued |
Both the Ordinary and Non-voting Ordinary shares are entitled to receive dividends as the directors of the company may from time to time recommend to declare. There is no fixed dividend. |
Both classes of shares rank pari passu as regards to winding up or other return of capital. |
The holders of the Ordinary A shares are entitled to one vote each for every share held. The holders of the Non-voting Ordinary shares are entitled to attend general meetings but are not entitled to vote at such meetings. |