Registered number
07743872
Revolve Clothing Limited
Filleted Accounts
30 September 2024
Revolve Clothing Limited
Registered number: 07743872
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 29,921 37,503
Current assets
Stocks 170,540 194,775
Debtors 5 68,929 37,755
Cash at bank and in hand 198,212 212,440
437,681 444,970
Creditors: amounts falling due within one year 6 (78,420) (68,927)
Net current assets 359,261 376,043
Total assets less current liabilities 389,182 413,546
Creditors: amounts falling due after more than one year 7 (80,000) (150,000)
Net assets 309,182 263,546
Capital and reserves
Called up share capital 100 100
Profit and loss account 309,082 263,446
Shareholders' funds 309,182 263,546
The director is 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 director acknowledges his 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.
Salwinder Singh Chahal
Director
Approved by the board on 25 April 2025
Revolve 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures and equipment 15% reducing balance
Motor vehicles 25% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 20,000
At 30 September 2024 20,000
Amortisation
At 1 October 2023 20,000
At 30 September 2024 20,000
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Fixtures and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 3,279 59,987 44,382 107,648
Additions - 724 - 724
Disposals - - (8,882) (8,882)
At 30 September 2024 3,279 60,711 35,500 99,490
Depreciation
At 1 October 2023 - 47,503 22,642 70,145
Charge for the year - 1,981 5,425 7,406
On disposals - - (7,982) (7,982)
At 30 September 2024 - 49,484 20,085 69,569
Net book value
At 30 September 2024 3,279 11,227 15,415 29,921
At 30 September 2023 3,279 12,484 21,740 37,503
5 Debtors 2024 2023
£ £
Other debtors 68,929 37,755
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,090 567
Taxation and social security costs 52,273 40,732
Other creditors 22,057 27,628
78,420 68,927
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 80,000 150,000
8 Other information
Revolve Clothing Limited is a private company limited by shares and incorporated in England. Its registered office is:
84 Walsall Road
Darlaston
Wednesbury
West Midlands
WS10 9JT
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