Silverfin false false 30/11/2024 01/12/2023 30/11/2024 B A Bright 21/01/2011 C J Bright 04/05/2021 P M Bright 04/05/2021 S L Bright 04/05/2021 21 March 2025 The principal activity of the Company during the financial year was retail sales of specialised clothing. 07500513 2024-11-30 07500513 bus:Director1 2024-11-30 07500513 bus:Director2 2024-11-30 07500513 bus:Director3 2024-11-30 07500513 bus:Director4 2024-11-30 07500513 2023-11-30 07500513 core:CurrentFinancialInstruments 2024-11-30 07500513 core:CurrentFinancialInstruments 2023-11-30 07500513 core:ShareCapital 2024-11-30 07500513 core:ShareCapital 2023-11-30 07500513 core:RevaluationReserve 2024-11-30 07500513 core:RevaluationReserve 2023-11-30 07500513 core:RetainedEarningsAccumulatedLosses 2024-11-30 07500513 core:RetainedEarningsAccumulatedLosses 2023-11-30 07500513 core:OtherResidualIntangibleAssets 2023-11-30 07500513 core:OtherResidualIntangibleAssets 2024-11-30 07500513 core:PlantMachinery 2023-11-30 07500513 core:Vehicles 2023-11-30 07500513 core:FurnitureFittings 2023-11-30 07500513 core:OfficeEquipment 2023-11-30 07500513 core:PlantMachinery 2024-11-30 07500513 core:Vehicles 2024-11-30 07500513 core:FurnitureFittings 2024-11-30 07500513 core:OfficeEquipment 2024-11-30 07500513 bus:OrdinaryShareClass1 2024-11-30 07500513 2023-12-01 2024-11-30 07500513 bus:FilletedAccounts 2023-12-01 2024-11-30 07500513 bus:SmallEntities 2023-12-01 2024-11-30 07500513 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 07500513 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 07500513 bus:Director1 2023-12-01 2024-11-30 07500513 bus:Director2 2023-12-01 2024-11-30 07500513 bus:Director3 2023-12-01 2024-11-30 07500513 bus:Director4 2023-12-01 2024-11-30 07500513 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-12-01 2024-11-30 07500513 core:OtherResidualIntangibleAssets 2023-12-01 2024-11-30 07500513 core:PlantMachinery core:TopRangeValue 2023-12-01 2024-11-30 07500513 core:Vehicles core:TopRangeValue 2023-12-01 2024-11-30 07500513 core:FurnitureFittings core:TopRangeValue 2023-12-01 2024-11-30 07500513 core:OfficeEquipment core:TopRangeValue 2023-12-01 2024-11-30 07500513 2022-12-01 2023-11-30 07500513 core:PlantMachinery 2023-12-01 2024-11-30 07500513 core:Vehicles 2023-12-01 2024-11-30 07500513 core:FurnitureFittings 2023-12-01 2024-11-30 07500513 core:OfficeEquipment 2023-12-01 2024-11-30 07500513 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 07500513 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07500513 (England and Wales)

B B WEAR LTD

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

B B WEAR LTD

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

B B WEAR LTD

BALANCE SHEET

As at 30 November 2024
B B WEAR LTD

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 14,208 5,820
Tangible assets 4 1,203 1,486
15,411 7,306
Current assets
Stocks 102,415 138,585
Debtors 5 11,479 21,562
Cash at bank and in hand 31,132 38,683
145,026 198,830
Creditors: amounts falling due within one year 6 ( 40,024) ( 69,575)
Net current assets 105,002 129,255
Total assets less current liabilities 120,413 136,561
Net assets 120,413 136,561
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 12,785 3,647
Profit and loss account 107,528 132,814
Total shareholders' funds 120,413 136,561

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of B B Wear Ltd (registered number: 07500513) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

B A Bright
Director
B B WEAR LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
B B WEAR LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

B B Wear Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, Blackbrook Gate 1, Blackbrook Business Park, Taunton, Somerset, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of B B Wear Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

In light of the current economic situation, both in the UK and globally, impacted by rising energy costs, inflation and general cost of living increases, the directors have given consideration to the impact of these issues on the operations and financial position of the company, as well as upon customers and suppliers. The directors are satisfied that, having considered no less than 12 months from the date of approval of the financial statements, that the issues identified do not present a significant risk to the going concern basis of the company and, therefore, that the going concern basis of preparation remains appropriate.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Other intangible assets

Digital assets held by the company are measured at cost less amortisation. As an active market exists for the digital assets held by the company and a reliable valuation can be made, the digital assets are revalued at the balance sheet date.

The useful economic life of Digital Assets cannot be reasonably estimated so the directors have adopted the standard ten-year straight line policy for amortisation. Given the active market for the Digital Assets held by the company and the reliable valuation that can be ascertained at any point in time, the directors have chosen to revalue Digital Assets at the balance sheet date to that of the realisable market value.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Key judgements and sources of estimation uncertainty

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:

Digital assets
Digital Assets are a relatively new technology with different asset types comprising of different characteristics. As a result it is difficult to ascertain what the estimated useful life of a digital asset may be; any such estimate would require an understating of the future adoption and perseverance of the underlying technology. The directors have chosen to amortise digital assets over a period of ten years as their best estimation of useful life, and to revalue at the year end date based on active market data. The directors are aware that digital asset markets are prone to volatility and are satisfied with the risks and uncertainty in considering the future value of these assets. The carrying value at the year end is £14,208 (2023 - £5,820).

Aside from the above, the directors do not consider that significant estimates or judgements have been made during the preparation of the financial statements impacting the results and position reported.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Leases

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 12

3. Intangible assets

Other intangible assets Total
£ £
Cost/Valuation
At 01 December 2023 11,147 11,147
Revaluations 9,138 9,138
At 30 November 2024 20,285 20,285
Accumulated amortisation
At 01 December 2023 5,327 5,327
Charge for the financial year 750 750
At 30 November 2024 6,077 6,077
Net book value
At 30 November 2024 14,208 14,208
At 30 November 2023 5,820 5,820

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 December 2023 17,252 12,850 989 5,987 37,078
Additions 152 0 0 602 754
At 30 November 2024 17,404 12,850 989 6,589 37,832
Accumulated depreciation
At 01 December 2023 17,089 12,422 459 5,622 35,592
Charge for the financial year 122 428 197 290 1,037
At 30 November 2024 17,211 12,850 656 5,912 36,629
Net book value
At 30 November 2024 193 0 333 677 1,203
At 30 November 2023 163 428 530 365 1,486

5. Debtors

2024 2023
£ £
Trade debtors 9,968 9,881
Amounts owed by directors 380 8,332
Prepayments 1,031 940
Other debtors 100 2,409
11,479 21,562

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,570 9,916
Amounts owed to directors 4,173 0
Accruals 5,857 2,727
Taxation and social security 21,068 53,687
Other creditors 6,356 3,245
40,024 69,575

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Director 1 0 3,782
Director 2 0 337
Director 3 0 4,033
Director 4 380 180

An advance of £3,782 for Director 1 was brought forward at 1 December 2023. £3,782 was repaid during the year to 30 November 2024.
An advance of £337 for Director 2 was brought forward at 1 December 2023. £337 was repaid during the year to 30 November 2024.
An advance of £4,033 for Director 3 was brought forward at 1 December 2023. £4,033 was repaid during the year to 30 November 2024.
An advance of £180 for Director 4 was brought forward at 1 December 2023. Further advances of £200 were taken during the year. The balance owed at 30 November 2024 is £380.
These loans are interest free and repayable on demand.