Company registration number 14597453 (England and Wales)
OUTFITTERS STORES UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
OUTFITTERS STORES UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OUTFITTERS STORES UK LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
474,899
-
Debtors
138,369
1
Cash at bank and in hand
528,397
-
0
1,141,665
1
Creditors: amounts falling due within one year
(739,952)
-
0
Net current assets
401,713
1
Capital and reserves
Called up share capital
3
1
1
Profit and loss reserves
401,712
-
0
Total equity
401,713
1

The notes on page 08 to 10 form part of these financial statements.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 December 2024 and are signed on its behalf by:
W Ahmad
Director
Company Registration No. 14597453
OUTFITTERS STORES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Outfitters Stores UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 60 Gracechurch Street, London, United Kingdom, EC3V 0HR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

OUTFITTERS STORES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

No significant judgements in applying accounting policies have had to be made by management in preparing these financial statements.

3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1
1
1
1
4
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Nicola King
Statutory Auditor:
David Howard
5
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

During the year, the company received a loan amounting to £100,000 from a director. The loan was fully repaid on 19 January 2024 and the rate of interest charged was 0%.

OUTFITTERS STORES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
6
Parent company

Outfitters Stores UK Limited is a subsidiary of Outfitters Stores Private Limited, a company incorporated in Pakistan, whose registered office is 1-Km, Defence Road, Off Bhobatian Chowk Near Lahore University, Raiwind Road, Lahore, Pakistan, and which draws up consolidated accounts.

 

2024-06-302023-07-01false09 December 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedW AhmadS KamranK KhurshidM UsmanA Khanfalsefalse5145974532023-07-012024-06-30145974532024-06-30145974532023-06-3014597453core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3014597453core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3014597453core:ShareCapital2024-06-3014597453core:ShareCapital2023-06-3014597453core:RetainedEarningsAccumulatedLosses2024-06-3014597453core:RetainedEarningsAccumulatedLosses2023-06-3014597453bus:Director12023-07-012024-06-3014597453bus:PrivateLimitedCompanyLtd2023-07-012024-06-3014597453bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3014597453bus:FRS1022023-07-012024-06-3014597453bus:Audited2023-07-012024-06-3014597453bus:Director22023-07-012024-06-3014597453bus:Director32023-07-012024-06-3014597453bus:Director42023-07-012024-06-3014597453bus:Director52023-07-012024-06-3014597453bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP