IRIS Accounts Production v24.1.0.578 04054875 Board of Directors 1.4.23 31.3.24 31.3.24 24/12/2024 false true false false false true false Auditors Opinion Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040548752023-03-31040548752024-03-31040548752023-04-012024-03-31040548752022-10-31040548752022-11-012023-03-31040548752023-03-3104054875ns15:EnglandWales2023-04-012024-03-3104054875ns14:PoundSterling2023-04-012024-03-3104054875ns10:Director12023-04-012024-03-3104054875ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104054875ns10:SmallEntities2023-04-012024-03-3104054875ns10:Audited2023-04-012024-03-3104054875ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104054875ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104054875ns10:FullAccounts2023-04-012024-03-310405487512023-04-012024-03-3104054875ns10:OrdinaryShareClass12023-04-012024-03-3104054875ns10:Director22023-04-012024-03-3104054875ns10:Director32023-04-012024-03-3104054875ns10:Director42023-04-012024-03-3104054875ns10:RegisteredOffice2023-04-012024-03-3104054875ns5:CurrentFinancialInstruments2024-03-3104054875ns5:CurrentFinancialInstruments2023-03-3104054875ns5:ShareCapital2024-03-3104054875ns5:ShareCapital2023-03-3104054875ns5:SharePremium2024-03-3104054875ns5:SharePremium2023-03-3104054875ns5:RetainedEarningsAccumulatedLosses2024-03-3104054875ns5:RetainedEarningsAccumulatedLosses2023-03-3104054875ns5:NetGoodwill2023-04-012024-03-3104054875ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104054875ns5:NetGoodwill2023-03-3104054875ns5:NetGoodwill2024-03-3104054875ns5:NetGoodwill2023-03-3104054875ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3104054875ns5:PlantMachinery2023-03-3104054875ns5:FurnitureFittings2023-03-3104054875ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3104054875ns5:PlantMachinery2023-04-012024-03-3104054875ns5:FurnitureFittings2023-04-012024-03-3104054875ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3104054875ns5:PlantMachinery2024-03-3104054875ns5:FurnitureFittings2024-03-3104054875ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3104054875ns5:PlantMachinery2023-03-3104054875ns5:FurnitureFittings2023-03-3104054875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104054875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104054875ns5:CurrentFinancialInstruments2023-04-012024-03-3104054875ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 04054875 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

NOMADS CLOTHING LIMITED

NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NOMADS CLOTHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr Y Amin
Mr M Amin
Mr A Davis
Mr A Waris





REGISTERED OFFICE: Himalayan House 430 Thurmaston Boulevard
Thurmaston
Leicester
LE4 9LE





REGISTERED NUMBER: 04054875 (England and Wales)





INDEPENDENT AUDITORS: Watergates Ltd
109 Coleman Road
Leicester
LE5 4LE

NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 25,376 72,911
Tangible assets 5 39,054 59,915
64,430 132,826

CURRENT ASSETS
Stocks 446,987 399,782
Debtors 6 1,015,126 581,620
Cash at bank and in hand 12,852 128,041
1,474,965 1,109,443
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

(549,005

)

(215,573

)
NET CURRENT ASSETS 925,960 893,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

990,390

1,026,696

PROVISIONS FOR LIABILITIES (7,420 ) (12,670 )
NET ASSETS 982,970 1,014,026

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium 110,000 110,000
Retained earnings 871,970 903,026
SHAREHOLDERS' FUNDS 982,970 1,014,026

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 24th December 2024 and were signed on its behalf by:





Mr A Waris - Director


NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Nomads Clothing 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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

GOING CONCERN
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover represents revenue earned from the sale of goods.

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery-20% on cost
Fixtures and fittings-20% on cost
Motor vehicles- 20% on cost
Office equipment-20% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

STOCKS
Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

LOANS AND BORROWINGS
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 statement of financial position date.


NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

RESEARCH AND DEVELOPMENT
Expenditure on research and development is written off in the year in which it is incurred.


FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 514,662
AMORTISATION
At 1st April 2023 441,751
Charge for year 47,535
At 31st March 2024 489,286
NET BOOK VALUE
At 31st March 2024 25,376
At 31st March 2023 72,911

NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1st April 2023 203,878 22,301 6,206 232,385
Additions - - 736 736
At 31st March 2024 203,878 22,301 6,942 233,121
DEPRECIATION
At 1st April 2023 147,034 20,147 5,289 172,470
Charge for year 20,388 1,129 80 21,597
At 31st March 2024 167,422 21,276 5,369 194,067
NET BOOK VALUE
At 31st March 2024 36,456 1,025 1,573 39,054
At 31st March 2023 56,844 2,154 917 59,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 445,343 376,271
Amounts owed by group undertakings 311,519 -
Other debtors 258,264 205,349
1,015,126 581,620

Amounts owed by group undertakings are unsecured, interest free, and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 193,441 94,787
Trade creditors 213,643 30,835
Amounts owed to group undertakings 93,193 -
Taxation and social security 14,384 4,916
Other creditors 34,344 85,035
549,005 215,573

Amounts owed to group undertakings are unsecured, interest free, and repayable on demand.

NOMADS CLOTHING LIMITED (REGISTERED NUMBER: 04054875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. 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.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
As this is the first year we are carrying out an an audit for this entity and no audit was performed in prior year, we have not been able to satisfy ourselves by alternative means on the opening or comparative balances. As a result of these matters, we were unable to determine whether any adjustments might have been found necessary in respect of opening balances and the elements making up the statement of comprehensive income and statement of financial position.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Shakil Malida FCCA (Senior Statutory Auditor)
for and on behalf of Watergates Ltd

11. RELATED PARTY DISCLOSURES

Included within the financial statements are amounts with entities which have common directorship and fellow group companies not wholly owned, as follows:
2024
£   
Purchases 147,533
Amounts owed by group undertakings 434,839
Amounts owed to group undertakings 93,194


12. ULTIMATE CONTROLLING PARENT

The company is a subsidiary of Superhouse Limited, an Indian registered company with registered office at 150 Feet Road, Jajmau, Kanpur, 208 010 India.