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Registration number: 09962213

Peaky Blinders Clothing Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Peaky Blinders Clothing Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Peaky Blinders Clothing Limited

Company Information

Directors

S Knight

M W Whitehill

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Peaky Blinders Clothing Limited

Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

215

506

Current assets

 

Stocks

5

267,358

273,944

Debtors

6

10,982

12,515

Cash at bank and in hand

 

7,342

5,792

 

285,682

292,251

Creditors: Amounts falling due within one year

7

(1,180,660)

(1,109,983)

Net current liabilities

 

(894,978)

(817,732)

Net liabilities

 

(894,763)

(817,226)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(894,863)

(817,326)

Shareholders' deficit

 

(894,763)

(817,226)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................

S Knight

Director

Company registration number: 09962213

 

Peaky Blinders Clothing Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the retail of clothing.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year ended 31 January 2024 and had net liabilities of £894,763 at that date.

At 31 January 2024 an amount of £563,997 was due to a director and an amount of £572,751 was due to a connected undertaking. Both have confirmed that they will continue to support the company and will not call for repayment until such time as it has sufficient working capital.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the retail sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Turnover is recognised when clothing is despatched to the customer.

 

Peaky Blinders Clothing Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

3 years straight line

Website development

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

Peaky Blinders Clothing Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Website development
£

Total
£

Cost or valuation

At 1 February 2023

4,212

23,750

27,962

At 31 January 2024

4,212

23,750

27,962

Depreciation

At 1 February 2023

3,706

23,750

27,456

Charge for the year

291

-

291

At 31 January 2024

3,997

23,750

27,747

Carrying amount

At 31 January 2024

215

-

215

At 31 January 2023

506

-

506

5

Stocks

2024
£

2023
£

Stock

267,358

273,944

6

Debtors

2024
£

2023
£

Other debtors

10,982

12,515

10,982

12,515

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

31,109

13,286

Accruals and deferred income

12,500

30,694

Other creditors

1,137,051

1,066,003

1,180,660

1,109,983