Registered number
09215353
Accessory World (GG) Limited
Report and Accounts
30 September 2024
Accessory World (GG) Limited
Registered number: 09215353
Directors' Report
The directors present their report and accounts for the year ended 30 September 2024.
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 2024. 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 2024
2024 2023
£ £
Turnover3,937,5263,656,808
Cost of sales(2,155,812)(1,876,284)
Gross profit1,781,7141,780,524
Administrative expenses(1,452,402)(1,473,091)
Operating profit329,312307,433
Profit before taxation329,312307,433
Tax on profit(85,844)(77,445)
Profit for the financial year243,468229,988
Accessory World (GG) Limited
Registered number:09215353
Balance Sheet
as at 30 September 2024
Notes2024 2023
£ £
Fixed assets
Tangible assets3111,941126,005
Current assets
Stocks935,000850,000
Cash at bank and in hand766156
935,766850,156
Creditors: amounts falling due within one year4(661,064)(832,986)
Net current assets274,70217,170
Net assets386,643143,175
Capital and reserves
Called up share capital11
Profit and loss account386,642143,174
Shareholders' funds386,643143,175
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 2024
ShareShareRe-ProfitTotal
capitalpremiumvaluationand loss
reserveaccount
£ £ £ £ £
At 1 October 20221- - (86,814)(86,813)
Profit for the financial year229,988 229,988
At 30 September 20231 - - 143,174 143,175
At 1 October 20231- - 143,174143,175
Profit for the financial year243,468243,468
At 30 September 20241- - 386,642386,643
Accessory World (GG) Limited
Notes to the Accounts
for the year ended 30 September 2024
1Accounting 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 equipmentover 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.
2Employees2024 2023
NumberNumber
Average number of persons employed by the company00
3Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023378,073
Additions5,690
At 30 September 2024383,763
Depreciation
At 1 October 2023252,068
Charge for the year19,754
At 30 September 2024271,822
Net book value
At 30 September 2024111,941
At 30 September 2023126,005
4Creditors: amounts falling due within one year2024 2023
£ £
Trade creditors78,10579,489
Taxation and social security costs261,951212,004
Accruals-
Other creditors321,008541,493
661,064832,986
5Other 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 2024
This schedule does not form part of the statutory accounts
2024 2023
£ £
Sales3,937,5263,656,808
Cost of sales(2,155,812)(1,876,284)
Gross profit1,781,7141,780,524
Administrative expenses(1,452,402)(1,473,091)
Operating profit329,312307,433
Profit before tax329,312307,433
Accessory World (GG) Limited
Detailed profit and loss account
for the year ended 30 September 2024
This schedule does not form part of the statutory accounts
2024 2023
£ £
Sales
Sales
3,937,526
3,656,808
Rent-
Cost of sales
Purchases
2,205,014
2,047,812
Decrease/increase in stocks(
85,000
)		(
250,000
)
Carriage
35,798
78,472
2,155,812 1,876,284
Administrative expenses
Employee costs:
Wages and salaries
954,680
982,977
Travel and subsistence
42,823
35,004
997,503 1,017,981
Premises costs:
Rent
140,023
186,662
Rates
46,500
45,000
Light and heat
26,764
36,608
213,287 268,270
General administrative expenses:
Telephone and internet
19,512
17,848
Bank charges
38,671
33,803
Exchange rate P/L(858)(23,734)
Insurance
15,640
34,416
Software
13,094
2,701
Repairs and maintenance
88,558
46,465
Donations8,153 8,428
Depreciation
19,754
22,236
202,524 142,163
Legal and professional costs:
Accountancy fees
9,805
8,544
Advertising and PR
25,614
28,245
Other legal and professional
3,669
7,888
39,088 44,677
1,452,402 1,473,091
Accessory World (GG) Limited09215353false2023-10-012024-09-302024-09-30VT Final AccountsApril 2025Mrs D Benolieltrue092153532022-10-012023-09-3009215353core:WithinOneYear2023-09-3009215353core:ShareCapital2023-09-3009215353core:RetainedEarningsAccumulatedLosses2023-09-30092153532022-09-3009215353core:ShareCapital2022-09-3009215353core:SharePremium2022-09-3009215353core:OtherReservesSubtotal2022-09-3009215353core:RetainedEarningsAccumulatedLosses2022-09-30092153532023-10-012024-09-3009215353bus:PrivateLimitedCompanyLtd2023-10-012024-09-3009215353bus:AuditExemptWithAccountantsReport2023-10-012024-09-3009215353bus:Director402023-10-012024-09-3009215353core:RetainedEarningsAccumulatedLosses2023-10-012024-09-300921535312023-10-012024-09-300921535322023-10-012024-09-3009215353core:PlantMachinery2023-10-012024-09-3009215353countries:England2023-10-012024-09-3009215353bus:FRS1022023-10-012024-09-3009215353bus:FullAccounts2023-10-012024-09-30092153532024-09-3009215353core:WithinOneYear2024-09-3009215353core:ShareCapital2024-09-3009215353core:RetainedEarningsAccumulatedLosses2024-09-3009215353core:SharePremium2024-09-3009215353core:OtherReservesSubtotal2024-09-3009215353core:PlantMachinery2024-09-30092153532023-09-3009215353core:SharePremium2023-09-3009215353core:OtherReservesSubtotal2023-09-3009215353core:PlantMachinery2023-09-30iso4217:GBPxbrli:pure