Company Registration No. 07911645 (England and Wales)
June Woods Fashions Ltd
Unaudited accounts
for the year ended 31 July 2024
June Woods Fashions Ltd
Unaudited accounts
Contents
June Woods Fashions Ltd
Company Information
for the year ended 31 July 2024
Company Number
07911645 (England and Wales)
Registered Office
8 - 10 Abbeygate
Grimsby
N E Lincs
DN31 1JY
Accountants
LRCA Limited
McCue House
70 Wilton Road
Grimsby
N E Lincs
DN36 4AW
June Woods Fashions Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
32,307
1,918
Cash at bank and in hand
80,994
111,887
Creditors: amounts falling due within one year
(134,768)
(139,955)
Net current assets
25,879
59,288
Total assets less current liabilities
58,186
61,206
Creditors: amounts falling due after more than one year
(9,640)
(19,908)
Provisions for liabilities
Called up share capital
50
50
Profit and loss account
46,956
41,248
Shareholders' funds
47,006
41,298
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
Mrs S W Smith
Director
Company Registration No. 07911645
June Woods Fashions Ltd
Notes to the Accounts
for the year ended 31 July 2024
June Woods Fashions Ltd is a private company, limited by shares, registered in England and Wales, registration number 07911645. The registered office is 8 - 10 Abbeygate, Grimsby, N E Lincs, DN31 1JY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
3 years straight line
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, of goods supplied to customers during the year.
Inventories have been valued at the lower of cost and estimated selling price. Cost includes all purchases and is calculated using the average cost method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.
June Woods Fashions Ltd
Notes to the Accounts
for the year ended 31 July 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Change in accounting period
The comparative amounts presented in the accounts (including the related notes) are not entirely comparable and relate to the 18 month period ended 31st July 2023.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
-
6,125
374
6,499
Additions
30,691
-
-
30,691
At 31 July 2024
30,691
6,125
374
37,190
At 1 August 2023
-
4,286
295
4,581
Charge for the year
-
276
26
302
At 31 July 2024
-
4,562
321
4,883
At 31 July 2024
30,691
1,563
53
32,307
At 31 July 2023
-
1,839
79
1,918
Amounts falling due within one year
Accrued income and prepayments
5,490
4,856
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,268
10,014
Trade creditors
28,609
31,237
Taxes and social security
9,333
17,455
Other creditors
3,398
1,921
Loans from directors
67,291
61,742
7
Creditors: amounts falling due after more than one year
2024
2023
June Woods Fashions Ltd
Notes to the Accounts
for the year ended 31 July 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
1,540
-
Charged to the profit and loss account
1,540
-
Provision at end of year
1,540
-
9
Transactions with related parties
At the end of the year the company owed £67,291 (2023: £61,742) to it's directors. The loans are repayable on demand and interest free.
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).