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REGISTERED NUMBER: 04908609 (England and Wales)










North Menswear Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






North Menswear Limited (Registered number: 04908609)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

North Menswear Limited

Company Information
for the year ended 30 September 2024







DIRECTOR: Mr D Hadfield





REGISTERED OFFICE: 36 Castle Street
Beaumaris
Anglesey
LL58 8BB





REGISTERED NUMBER: 04908609 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

North Menswear Limited (Registered number: 04908609)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,261 6,321
Tangible assets 5 6,611 7,385
10,872 13,706

CURRENT ASSETS
Stocks 3,990 5,460
Debtors 6 2,906 2,202
Cash at bank and in hand 40,208 35,749
47,104 43,411
CREDITORS
Amounts falling due within one year 7 30,982 36,945
NET CURRENT ASSETS 16,122 6,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,994

20,172

PROVISIONS FOR LIABILITIES 9 1,256 1,403
NET ASSETS 25,738 18,769

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 25,737 18,768
SHAREHOLDERS' FUNDS 25,738 18,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 director and authorised for issue on 4 March 2025 and were signed by:



Mr D Hadfield - Director


North Menswear Limited (Registered number: 04908609)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

North Menswear 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

North Menswear Limited (Registered number: 04908609)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 10,000 3,018 13,018
AMORTISATION
At 1 October 2023 4,000 2,697 6,697
Charge for year 2,000 60 2,060
At 30 September 2024 6,000 2,757 8,757
NET BOOK VALUE
At 30 September 2024 4,000 261 4,261
At 30 September 2023 6,000 321 6,321

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 30,421
DEPRECIATION
At 1 October 2023 23,036
Charge for year 774
At 30 September 2024 23,810
NET BOOK VALUE
At 30 September 2024 6,611
At 30 September 2023 7,385

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,785 2,202
Other debtors 766 -
VAT 355 -
2,906 2,202

North Menswear Limited (Registered number: 04908609)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 573 610
Trade creditors 17,852 24,253
Tax 3,485 2,358
VAT - 6,340
Other creditors 436 885
Directors' current accounts 6,601 464
Accrued expenses 2,035 2,035
30,982 36,945

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 573 610

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,256 1,403

Deferred
tax
£   
Balance at 1 October 2023 1,403
Provided during year (147 )
Balance at 30 September 2024 1,256

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Retained
earnings
£   

At 1 October 2023 18,768
Profit for the year 12,169
Dividends (5,200 )
At 30 September 2024 25,737

North Menswear Limited

Report of the Accountants to the Director of
North Menswear Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN


4 March 2025