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REGISTERED NUMBER: 10614843 (England and Wales)










Dean Clothing Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024






Dean Clothing Ltd (Registered number: 10614843)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dean Clothing Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr R Mahmood





REGISTERED OFFICE: 36a Broughton Street
Manchester
M8 8NN





BUSINESS ADDRESS: 36A Broughton Street
Manchester
Manchester
England
M8 8NN





REGISTERED NUMBER: 10614843 (England and Wales)






Dean Clothing Ltd (Registered number: 10614843)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 28,967 32,779

CURRENT ASSETS
Stocks 396,500 344,573
Debtors 6 178,236 121,873
Cash at bank 149,851 60,464
724,587 526,910
CREDITORS
Amounts falling due within one year 7 (703,258 ) (491,302 )
NET CURRENT ASSETS 21,329 35,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,296

68,387

CREDITORS
Amounts falling due after more than one year 8 (24,685 ) (56,394 )
NET ASSETS 25,611 11,993

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 25,511 11,893
SHAREHOLDERS' FUNDS 25,611 11,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Dean Clothing Ltd (Registered number: 10614843)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





Mr R Mahmood - Director


Dean Clothing Ltd (Registered number: 10614843)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. GENERAL INFORMATION

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

The address of its registered office is:
36A Broughton Street
Manchester
M8 8NN
England

The principal place of business is:
36A Broughton Street
Manchester
M8 8NN
England

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
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.

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.


Dean Clothing Ltd (Registered number: 10614843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024
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
Office equipment 20% Reducing balance basis
Plant and machinery 20% Reducing balance basis
Motor vehicle 15% Reducing balance basis

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.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dean Clothing Ltd (Registered number: 10614843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 650 29,995 3,335 33,980
Additions - - 1,344 1,344
At 29 February 2024 650 29,995 4,679 35,324
DEPRECIATION
At 1 March 2023 - - 1,201 1,201
Charge for year 130 4,499 527 5,156
At 29 February 2024 130 4,499 1,728 6,357
NET BOOK VALUE
At 29 February 2024 520 25,496 2,951 28,967
At 28 February 2023 650 29,995 2,134 32,779

Dean Clothing Ltd (Registered number: 10614843)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 157,732 104,759
Other debtors 4,000 -
VAT 15,390 16,614
Accrued income 614 -
Prepayments 500 500
178,236 121,873

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,932 -
Hire purchase contracts 4,943 -
Trade creditors 621,371 413,574
Corporation tax 1,114 2,289
PAYE and NIC creditor 7,049 7,019
Bank Card - 588
Wages and salaries control 1,799 377
Other Creditors 2 10,000 10,000
Directors' current accounts 36,145 43,700
Accruals and deferred income 10,905 13,755
703,258 491,302

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
BBL Loan >1 Year 12,673 33,121
Other loan 1 (1-2 yrs) (10 ) (10 )
Hire purchase contracts 12,022 23,283
24,685 56,394

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100