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Registered number: 10721682
Demand Attire Ltd
Unaudited Financial Statements
For the Period 1 May 2023 to 9 October 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Demand Attire Ltd for the period 1 May 2023 to 9 October 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Demand Attire Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Demand Attire Ltd , as a body, in accordance with the terms of our engagement letter dated 08 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Demand Attire Ltd and state those matters that we have agreed to state to the director of Demand Attire Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Demand Attire Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Demand Attire Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Demand Attire Ltd . You consider that Demand Attire Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Demand Attire Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
20th February 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 10721682
9 October 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 447 884
447 884
CURRENT ASSETS
Stocks 5 - 2,100
Debtors 6 - 17,784
Cash at bank and in hand 384 233
384 20,117
Creditors: Amounts Falling Due Within One Year 7 (105,585 ) (66,489 )
NET CURRENT ASSETS (LIABILITIES) (105,201 ) (46,372 )
TOTAL ASSETS LESS CURRENT LIABILITIES (104,754 ) (45,488 )
NET LIABILITIES (104,754 ) (45,488 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (104,755 ) (45,489 )
SHAREHOLDERS' FUNDS (104,754) (45,488)
Page 2
Page 3
For the period ending 9 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anthony Young
Director
20th February 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Demand Attire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10721682 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road,, Wilmslow,, Cheshire, England, SK9 4LY.
The company's principle place of business is 85 High Street, Cheadle, Cheshire, SK8 1AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as the company has no realistic alternative but to cease trading.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance method
Computer Equipment 33% Straight line method
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 635 590 1,225
As at 9 October 2024 635 590 1,225
Depreciation
As at 1 May 2023 204 137 341
Provided during the period 156 281 437
As at 9 October 2024 360 418 778
Net Book Value
As at 9 October 2024 275 172 447
As at 1 May 2023 431 453 884
5. Stocks
9 October 2024 30 April 2023
£ £
Finished goods - 2,100
6. Debtors
9 October 2024 30 April 2023
£ £
Due within one year
Prepayments and accrued income - 3,082
Intercompany - 200
Deferred tax current asset - 14,502
- 17,784
7. Creditors: Amounts Falling Due Within One Year
9 October 2024 30 April 2023
£ £
Trade creditors 2,908 2,447
Corporation tax 200 300
Other taxes and social security 7,478 4,813
VAT 10,824 12,845
Net wages - 700
Accruals and deferred income - 2,648
Director's loan account 36,217 42,736
Intercompany creditors 47,958 -
105,585 66,489
Page 5
Page 6
8. Share Capital
9 October 2024 30 April 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1 each 1 1
Page 6