REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 January 2025 |
for |
The House of the Tailor of Gloucester |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 January 2025 |
for |
The House of the Tailor of Gloucester |
Limited |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Contents of the Financial Statements |
For The Year Ended 31 January 2025 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
The House of the Tailor of Gloucester |
Limited |
Company Information |
For The Year Ended 31 January 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
SOLICITORS: |
22-24 Church Road |
Newent |
Gloucestershire |
GL18 1PP |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Statement of Financial Position |
31 January 2025 |
31.1.25 | 31.1.24 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Notes to the Financial Statements |
For The Year Ended 31 January 2025 |
1. | STATUTORY INFORMATION |
The House of the Tailor of Gloucester Limited is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
The company was formerly registered as The House of the Tailor of Gloucester PLC up until the 9th January 2019, when it was re-registered as a Limited private company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Fixtures and Fittings - 20% on cost |
The freehold property is included under property, plant and equipment and valued using the cost model as it is rented out to the company's subsidiary undertaking The Tailor of Gloucester Limited. The property is shown as a tangible fixed asset, and has not been depreciated as the discounted value of the historic property in 50 years time would be more than its original cost. |
At each reporting date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the assets belongs. |
Investments in subsidiaries |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2025 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents 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. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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. |
Deferred tax |
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2025 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2024 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2024 |
and 31 January 2025 |
DEPRECIATION |
At 1 February 2024 |
and 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
5. | FIXED ASSET INVESTMENTS |
31.1.25 | 31.1.24 |
£ | £ |
Shares in group undertakings |
Other investments not loans |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 February 2024 |
and 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
Investments (neither listed nor unlisted) were as follows: |
31.1.25 | 31.1.24 |
£ | £ |
Other Investments | 11,550 | 11,550 |
The House of the Tailor of Gloucester |
Limited (Registered number: 05612948) |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2025 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.25 | 31.1.24 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.25 | 31.1.24 |
£ | £ |
Taxation and social security |
Other creditors |
8. | ULTIMATE CONTROLLING PARTY |
There is no individual ultimate controlling party. |