Accessory World (GG) Limited

Registered number

09215353

Report and Accounts

30 September 2023

Accessory World (GG) Limited
Registered number:		09215353
Directors' Report

The directors present their report and accounts for the year ended 30 September 2023.

Principal activities
The company's principal activity during the year continued to be childrens clothing

Directors
The following persons served as directors during the year:

	Mrs D Benoliel

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 2 May 2025 and signed on its behalf.





Mrs D Benoliel
Director

Accessory World (GG) Limited
Accountants' Report


Accountants' report to the directors of
Accessory World (GG) Limited

You consider that the company is exempt from an audit for the year ended 30 September 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Bass Accountants Limited
Accountants

67 Windsor Road
Prestwich
Manchester
M25 0DB

2 May 2025

Accessory World (GG) Limited
Profit and Loss Account
for the year ended 30 September 2023


	2023		2022
£		£

Turnover	3,656,808		1,084,414

Cost of sales	(1,876,284)		(335,351)

Gross profit	1,780,524		749,063

Administrative expenses	(1,473,091)		(721,478)

Operating profit	307,433		27,585

Interest payable	-		(1,100)

Profit before taxation	307,433		26,485

Tax on profit	(77,445)		-

Profit for the financial year	229,988		26,485

Accessory World (GG) Limited
Registered number:		09215353
Balance Sheet
as at 30 September 2023

Notes			2023			2022
£				£
Fixed assets
Tangible assets	3		126,005			128,351

Current assets
Stocks		850,000			600,000
Cash at bank and in hand		156			4,767
		850,156			604,767

Creditors: amounts falling due within one year	4	(832,986)			(819,931)

Net current assets/(liabilities)			17,170			(215,164)

Net assets/(liabilities)			143,175			(86,813)

Capital and reserves
Called up share capital			1			1
Profit and loss account			143,174			(86,814)

Shareholders' funds			143,175			(86,813)

The directors are 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 directors acknowledge their 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.




Mrs D Benoliel
Director
Approved by the board on 2 May 2025

Accessory World (GG) Limited
Statement of Changes in Equity
for the year ended 30 September 2023

Share		Share		Re-		Profit		Total
capital		premium		valuation		and loss
reserve						account
£		£		£		£		£

At 1 October 2021	1		-		-		(113,299)		(113,298)

Profit for the financial year							26,485		26,485


At 30 September 2022	1		-		-		(86,814)		(86,813)



At 1 October 2022	1		-		-		(86,814)		(86,813)

Profit for the financial year							229,988		229,988


At 30 September 2023	1		-		-		143,174		143,175

Accessory World (GG) Limited
Notes to the Accounts
for the year ended 30 September 2023


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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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, fittings, tools and equipment	over 5 years

	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. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2023		2022
Number				Number

	Average number of persons employed by the company		0		0


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 October 2022				358,183
	Additions				19,890
	At 30 September 2023				378,073

	Depreciation
	At 1 October 2022				229,832
	Charge for the year				22,236
	At 30 September 2023				252,068

	Net book value
	At 30 September 2023				126,005
	At 30 September 2022				128,351


4	Creditors: amounts falling due within one year		2023		2022
£				£

	Trade creditors		79,489		51,029
	Taxation and social security costs		212,004		101,028
	Accruals				40,630
	Other creditors		541,493		627,244
			832,986		819,931


5	Other information

	Accessory World (GG) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	67 Windsor Road
	Prestwich
	Manchester
	M25 0DB

Accessory World (GG) Limited
Detailed profit and loss account
for the year ended 30 September 2023
This schedule does not form part of the statutory accounts

	2023		2022
£		£

Sales	3,656,808		1,084,414

Cost of sales	(1,876,284)		(335,351)

Gross profit	1,780,524		749,063

Administrative expenses	(1,473,091)		(721,478)

Operating profit	307,433		27,585

Interest payable	-		(1,100)

Profit before tax	307,433		26,485

Accessory World (GG) Limited
Detailed profit and loss account
for the year ended 30 September 2023
This schedule does not form part of the statutory accounts

		2023		2022
£			£
Sales
Sales		3,656,808		1,054,414
Rent				30,000
		3,656,808		1,084,414

Cost of sales
Purchases		2,047,812		435,351
Decrease/increase in stocks		( 250,000 )		( 100,000 )
Carriage		78,472		-
		1,876,284		335,351

Administrative expenses
Employee costs:
	Wages and salaries	982,977		254,600
	Travel and subsistence	35,004		15,410
		1,017,981		270,010
Premises costs:
	Rent	186,662		151,146
	Rates	45,000		36,467
	Light and heat	36,608		22,376
		268,270		209,989
General administrative expenses:
	Telephone and internet	17,848		16,640
	Bank charges	33,803		30,934
	Exchange rate P/L	(23,734)		67,444
	Insurance	34,416		27,290
	Software	2,701		5,833
	Repairs and maintenance	46,465		27,827
	Donations	8,428		10,911
	Depreciation	22,236		21,892
	Sundry expenses	-		1,114
		142,163		209,885
Legal and professional costs:
	Accountancy fees	8,544		1,750
	Advertising and PR	28,245		29,844
	Other legal and professional	7,888		-
		44,677		31,594

		1,473,091		721,478