Registered number
09244203
Whitefinn Clothing Limited
Filleted Accounts
30 September 2024
Whitefinn Clothing Limited
Registered number: 09244203
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,111 25,549
Current assets
Stocks 60,000 63,636
Debtors 4 - 618
Cash at bank and in hand 52,837 83,762
112,837 148,016
Creditors: amounts falling due within one year 5 (20,927) (42,142)
Net current assets 91,910 105,874
Total assets less current liabilities 124,021 131,423
Creditors: amounts falling due after more than one year 6 (40,655) (44,330)
Net assets 83,366 87,093
Capital and reserves
Called up share capital 100 100
Profit and loss account 83,266 86,993
Shareholders' funds 83,366 87,093
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rachel Robinson
Director
Approved by the board on 2 April 2025
Whitefinn Clothing Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 16,078 36,001 52,079
Additions - 32,267 32,267
Disposals - (36,001) (36,001)
At 30 September 2024 16,078 32,267 48,345
Depreciation
At 1 October 2023 10,779 15,751 26,530
Charge for the year 1,325 4,129 5,454
On disposals - (15,750) (15,750)
At 30 September 2024 12,104 4,130 16,234
Net book value
At 30 September 2024 3,974 28,137 32,111
At 30 September 2023 5,299 20,250 25,549
4 Debtors 2024 2023
£ £
Other debtors - 618
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,733 19,380
Taxation and social security costs 1,175 22,033
Directors Loan Account 16,862 349
Other creditors 1,157 380
20,927 42,142
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,833 16,250
Obligations under finance lease and hire purchase contracts 29,822 28,080
40,655 44,330
7 Other information
Whitefinn Clothing Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7, The Boardwalk
Mercia Marina
Findern Lane
Willington
DE56 6DW
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