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REGISTERED NUMBER: 08146498 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LONGWEAR LIMITED

LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONGWEAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs S Cottrell
Mr S V Jones





REGISTERED OFFICE: Longwear Limited
Pleasant Street
Lyng
West Bromwich
West Midlands
B70 7DP





REGISTERED NUMBER: 08146498 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 377 1,027
377 1,027

CURRENT ASSETS
Stocks 607,047 719,080
Debtors 6 521,393 591,672
Cash at bank 235,651 333,466
1,364,091 1,644,218
CREDITORS
Amounts falling due within one year 7 459,540 811,550
NET CURRENT ASSETS 904,551 832,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

904,928

833,695

PROVISIONS FOR LIABILITIES 8 13,845 14,102
NET ASSETS 891,083 819,593

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 881,083 809,593
SHAREHOLDERS' FUNDS 891,083 819,593

LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

BALANCE SHEET - continued
31 OCTOBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mrs S Cottrell - Director


LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Longwear 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.

Turnover is recognised once the rights and obligations of the goods have been fully transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 15,000
AMORTISATION
At 1 November 2023
and 31 October 2024 15,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2023
and 31 October 2024 26,135
DEPRECIATION
At 1 November 2023 25,108
Charge for year 650
At 31 October 2024 25,758
NET BOOK VALUE
At 31 October 2024 377
At 31 October 2023 1,027

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 211,064 591,330
Amounts owed by group undertakings 310,058 -
Other debtors 271 342
521,393 591,672

Amounts included in "Amounts owed by group undertakings" are loans provided to group companies. No interest is charged on these balances.

LONGWEAR LIMITED (REGISTERED NUMBER: 08146498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account - 910
Trade creditors 370,813 331,544
Amounts owed to group undertakings - 362,377
Taxation and social security 29,148 14,616
Other creditors 59,579 102,103
459,540 811,550

Amounts included in "Amounts owed to group undertakings" are loans provided by group companies. No interest is charged on these balances.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances - 257
Other provisions 13,845 13,845
13,845 14,102

Deferred Quality
tax Provision
£    £   
Balance at 1 November 2023 257 13,845
Credit to Income Statement during year (257 ) -
Balance at 31 October 2024 - 13,845

The total quality provision relates to one customer and has not changed from the prior year.

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date and are included within creditors.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Longwear Holdings Limited.