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COMPANY REGISTRATION NUMBER: 09973172
Christian Rose Clothing Limited
Filleted Unaudited Financial Statements
31 March 2024
Christian Rose Clothing Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Christian Rose Clothing Limited
Statement of Financial Position
31 March 2024
2024
2023
(restated)
Note
£
£
Fixed assets
Tangible assets
5
4,992
4,992
Current assets
Stocks
111,180
108,372
Debtors
6
175,917
107,883
Cash at bank and in hand
22,758
18,945
---------
---------
309,855
235,200
Creditors: amounts falling due within one year
7
331,256
257,048
---------
---------
Net current liabilities
21,401
21,848
--------
--------
Total assets less current liabilities
( 16,409)
( 16,856)
Creditors: amounts falling due after more than one year
8
56,499
--------
--------
Net liabilities
( 16,409)
( 73,355)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 16,411)
( 73,357)
--------
--------
Shareholders deficit
( 16,409)
( 73,355)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Christian Rose Clothing Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 20 February 2025 , and are signed on behalf of the board by:
Mr C C Alexander
Director
Company registration number: 09973172
Christian Rose Clothing Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, Watermill House Chevening Road, Chipstead, Sevenoaks, TN13 2RY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2023 (as restated) and 31 March 2024
6,822
-------
Depreciation
At 1 April 2023 and 31 March 2024
1,830
-------
Carrying amount
At 31 March 2024
4,992
-------
At 31 March 2023
4,992
-------
6. Debtors
2024
2023
(restated)
£
£
Trade debtors
54,267
6,233
Other debtors
121,650
101,650
---------
---------
175,917
107,883
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
22,446
8,167
Social security and other taxes
56,024
16,100
Other creditors
252,786
232,781
---------
---------
331,256
257,048
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
56,499
----
--------
9. Prior period errors
The prior period error was incorrect presentation of an other creditor within share capital. The adjustment is £30,000 moving from share capital to other creditors. The error was initially presented within the 2018 financial statements.
10. Related party transactions
At the balance sheet date, the company owed the directors £222,786 (2023: £202,780).