Silverfin false false 30/09/2024 01/10/2023 30/09/2024 F Lipman 14/06/1992 01 May 2025 The principal activity of the Company during the financial year was continued to be that of suppliers of clothing to hotels and restaurants. 01970062 2024-09-30 01970062 bus:Director1 2024-09-30 01970062 2023-09-30 01970062 core:CurrentFinancialInstruments 2024-09-30 01970062 core:CurrentFinancialInstruments 2023-09-30 01970062 core:Non-currentFinancialInstruments 2024-09-30 01970062 core:Non-currentFinancialInstruments 2023-09-30 01970062 core:ShareCapital 2024-09-30 01970062 core:ShareCapital 2023-09-30 01970062 core:RetainedEarningsAccumulatedLosses 2024-09-30 01970062 core:RetainedEarningsAccumulatedLosses 2023-09-30 01970062 bus:OrdinaryShareClass1 2024-09-30 01970062 2023-10-01 2024-09-30 01970062 bus:FilletedAccounts 2023-10-01 2024-09-30 01970062 bus:SmallEntities 2023-10-01 2024-09-30 01970062 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01970062 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01970062 bus:Director1 2023-10-01 2024-09-30 01970062 2022-10-01 2023-09-30 01970062 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 01970062 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 01970062 1 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01970062 (England and Wales)

HOTEL CLOTHING CO LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

HOTEL CLOTHING CO LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

HOTEL CLOTHING CO LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
HOTEL CLOTHING CO LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Stocks 5,904 1,366
Debtors 3 93,268 56,483
Cash at bank and in hand 63,301 198,889
162,473 256,738
Creditors: amounts falling due within one year 4 ( 56,163) ( 162,574)
Net current assets 106,310 94,164
Total assets less current liabilities 106,310 94,164
Creditors: amounts falling due after more than one year 5 ( 28,795) ( 34,448)
Net assets 77,515 59,716
Capital and reserves
Called-up share capital 6 20,000 20,000
Profit and loss account 57,515 39,716
Total shareholder's funds 77,515 59,716

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hotel Clothing Co Ltd (registered number: 01970062) were approved and authorised for issue by the Director. They were signed on its behalf by:

F Lipman
Director

01 May 2025

HOTEL CLOTHING CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
HOTEL CLOTHING CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hotel Clothing Co Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to and from related parties.

Financial assets
Basic financial assets, including trade debtors and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Trade debtors 46,245 56,483
Amounts owed by group undertakings 47,023 0
93,268 56,483

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,618 6,618
Trade creditors 17,087 15,523
Amounts owed to group undertakings 29,549 134,291
Taxation and social security 2,909 6,142
56,163 162,574

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 28,795 34,448

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each 20,000 20,000

7. Related party transactions

Other related party transactions

2024 2023
£ £
Included in creditors is a balance owed to group companies. This balance is unsecured and interest free with no fixed repayment terms. 29,549 134,291
Included in debtors is a balance owed by group companies. This balance is unsecured and interest free with no fixed repayment terms. 47,023 0

8. Ultimate controlling party

Parent Company:

The Lipman Group Limited
35 Ballards Lane, London, England, N3 1XW

The ultimate controlling party is Mr F Lipman.