Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05897562 Mrs Kathryn Scott-Cowan Mr John Phillips Mrs Kathryn Scott-Cowan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05897562 2023-12-31 05897562 2024-12-31 05897562 2024-01-01 2024-12-31 05897562 frs-core:CurrentFinancialInstruments 2024-12-31 05897562 frs-core:Non-currentFinancialInstruments 2024-12-31 05897562 frs-core:FurnitureFittings 2024-12-31 05897562 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05897562 frs-core:FurnitureFittings 2023-12-31 05897562 frs-core:PlantMachinery 2024-12-31 05897562 frs-core:PlantMachinery 2024-01-01 2024-12-31 05897562 frs-core:PlantMachinery 2023-12-31 05897562 frs-core:WithinOneYear 2024-12-31 05897562 frs-core:ShareCapital 2024-12-31 05897562 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05897562 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05897562 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05897562 frs-bus:SmallEntities 2024-01-01 2024-12-31 05897562 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05897562 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05897562 frs-bus:Director1 2024-01-01 2024-12-31 05897562 frs-bus:Director2 2024-01-01 2024-12-31 05897562 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05897562 frs-countries:EnglandWales 2024-01-01 2024-12-31 05897562 2022-12-31 05897562 2023-12-31 05897562 2023-01-01 2023-12-31 05897562 frs-core:CurrentFinancialInstruments 2023-12-31 05897562 frs-core:Non-currentFinancialInstruments 2023-12-31 05897562 frs-core:BetweenOneFiveYears 2023-12-31 05897562 frs-core:WithinOneYear 2023-12-31 05897562 frs-core:ShareCapital 2023-12-31 05897562 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05897562
Espionage Clothing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 05897562
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,734 2,411
1,734 2,411
CURRENT ASSETS
Stocks 332,855 341,822
Debtors 5 187,367 133,716
Cash at bank and in hand 56,344 59,312
576,566 534,850
Creditors: Amounts Falling Due Within One Year 6 (302,157 ) (223,447 )
NET CURRENT ASSETS (LIABILITIES) 274,409 311,403
TOTAL ASSETS LESS CURRENT LIABILITIES 276,143 313,814
Creditors: Amounts Falling Due After More Than One Year 7 (16,667 ) (56,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (274 ) (466 )
NET ASSETS 259,202 256,681
CAPITAL AND RESERVES
Called up share capital 9 4 4
Income Statement 259,198 256,677
SHAREHOLDERS' FUNDS 259,202 256,681
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Kathryn Scott-Cowan
Director
24 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Espionage Clothing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05897562 . The registered office is Unit 2 Winchester Business Park, Broad Lane, Bradford, BD4 8NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% on Reducing balance
Fixtures & Fittings 25% on Reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 22,082 3,932 26,014
As at 31 December 2024 22,082 3,932 26,014
Depreciation
As at 1 January 2024 21,176 2,427 23,603
Provided during the period 301 376 677
As at 31 December 2024 21,477 2,803 24,280
Net Book Value
As at 31 December 2024 605 1,129 1,734
As at 1 January 2024 906 1,505 2,411
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 124,813 100,777
Other debtors 62,554 32,939
187,367 133,716
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 342 -
Bank loans and overdrafts 40,000 40,000
Other creditors 216,176 131,181
Taxation and social security 45,639 52,266
302,157 223,447
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,667 56,667
16,667 56,667
8. Secured Creditors
Included in other creditors are invoice factoring liabilities which are secured against the trade debtors to which they relate.
2024 2023
£ £
Other Creditors 86,014 75,794
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 18,000 18,000
Later than one year and not later than five years - 18,000
18,000 36,000
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
Director 1
At start of period - £0
Amounts advanced - £9,740
Amounts repaid - (£0)
At end of period - £9,740
Director 2
At start of period - £0
Amounts advanced - £9,723
Amounts repaid - (£0)
At end of period - £9,723
The above loan is unsecured, interest free and repayable on demand.
The directors have provided joint and several guarantees of up to £200,000 in favour of HSBC bank in respect
of the company's overall bank borrowing requirement.
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