IRIS Accounts Production v24.2.0.383 07994531 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079945312023-03-31079945312024-03-31079945312023-04-012024-03-31079945312022-03-31079945312022-04-012023-03-31079945312023-03-3107994531ns15:EnglandWales2023-04-012024-03-3107994531ns14:PoundSterling2023-04-012024-03-3107994531ns10:Director12023-04-012024-03-3107994531ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107994531ns10:SmallEntities2023-04-012024-03-3107994531ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107994531ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107994531ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107994531ns10:FullAccounts2023-04-012024-03-3107994531ns10:OrdinaryShareClass12023-04-012024-03-3107994531ns10:Director22023-04-012024-03-3107994531ns10:Director32023-04-012024-03-3107994531ns10:Director42023-04-012024-03-3107994531ns10:RegisteredOffice2023-04-012024-03-3107994531ns5:CurrentFinancialInstruments2024-03-3107994531ns5:CurrentFinancialInstruments2023-03-3107994531ns5:Non-currentFinancialInstruments2024-03-3107994531ns5:Non-currentFinancialInstruments2023-03-3107994531ns5:ShareCapital2024-03-3107994531ns5:ShareCapital2023-03-3107994531ns5:RetainedEarningsAccumulatedLosses2024-03-3107994531ns5:RetainedEarningsAccumulatedLosses2023-03-3107994531ns5:PlantMachinery2023-04-012024-03-3107994531ns5:PlantMachinery2023-03-3107994531ns5:PlantMachinery2024-03-3107994531ns5:PlantMachinery2023-03-3107994531ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107994531ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107994531ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-03-3107994531ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3107994531ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 07994531 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Asylum Retail Limited

Asylum Retail Limited (Registered number: 07994531)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Asylum Retail Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Eley
Miss K Blurton
Miss M Davidson
Miss P Rayner





REGISTERED OFFICE: 47a Queen Street
Derby
DE1 3DE





REGISTERED NUMBER: 07994531 (England and Wales)





ACCOUNTANTS: Bourne & Co.
Chartered Accountants
47a Queen Street
Derby
Derbyshire
DE1 3DE

Asylum Retail Limited (Registered number: 07994531)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 549,294 443,929

CURRENT ASSETS
Stocks 1,865,000 1,864,428
Debtors 5 503,665 101,568
Cash at bank and in hand 178,783 114,926
2,547,448 2,080,922
CREDITORS
Amounts falling due within one year 6 1,378,548 1,196,512
NET CURRENT ASSETS 1,168,900 884,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,718,194

1,328,339

CREDITORS
Amounts falling due after more than one
year

7

(47,273

)

(98,982

)

PROVISIONS FOR LIABILITIES (93,186 ) (110,329 )
NET ASSETS 1,577,735 1,119,028

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 1,577,734 1,119,027
SHAREHOLDERS' FUNDS 1,577,735 1,119,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





M Eley - Director


Asylum Retail Limited (Registered number: 07994531)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Asylum Retail Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost, 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 98 (2023 - 84 ) .

Asylum Retail Limited (Registered number: 07994531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 840,305
Additions 267,691
Disposals (20,955 )
At 31 March 2024 1,087,041
DEPRECIATION
At 1 April 2023 396,376
Charge for year 160,170
Eliminated on disposal (18,799 )
At 31 March 2024 537,747
NET BOOK VALUE
At 31 March 2024 549,294
At 31 March 2023 443,929

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 7,983 1,356
Other debtors 491,859 100,212
499,842 101,568

Amounts falling due after more than one year:
Other debtors 3,823 -

Aggregate amounts 503,665 101,568

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,636 43,636
Trade creditors 833,967 899,088
Taxation and social security 358,747 147,920
Other creditors 142,198 105,868
1,378,548 1,196,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 47,273 90,909
Other creditors - 8,073
47,273 98,982

Asylum Retail Limited (Registered number: 07994531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1