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REGISTERED NUMBER: 07349753 (England and Wales)















SUITS ME LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






SUITS ME LIMITED (REGISTERED NUMBER: 07349753)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUITS ME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M W Sanders
J F Tully
J Taylor





REGISTERED OFFICE: The Old Shippon
Moseley Hall Farm
Chelford Road
Knutsford
Cheshire
WA16 8RB





REGISTERED NUMBER: 07349753 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 384,418 522,824
Tangible assets 5 113,051 131,302
497,469 654,126

CURRENT ASSETS
Stocks 6 283,477 93,594
Debtors 7 838,570 279,010
Cash at bank 230,719 428,382
1,352,766 800,986
CREDITORS
Amounts falling due within one year 8 16,265,264 11,187,238
NET CURRENT LIABILITIES (14,912,498 ) (10,386,252 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,415,029

)

(9,732,126

)

CREDITORS
Amounts falling due after more than one
year

9

4,420

14,813
NET LIABILITIES (14,419,449 ) (9,746,939 )

CAPITAL AND RESERVES
Called up share capital 10 10,415 10,415
Share premium 4,585 4,585
Retained earnings (14,434,449 ) (9,761,939 )
SHAREHOLDERS' FUNDS (14,419,449 ) (9,746,939 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





M W Sanders - Director


SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Suits Me Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis as the director, M W Sanders, has confirmed that he will continue to support the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover is recognised at the point when amounts become due from individual card holders.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Computer software costs are being amortised evenly over their estimated useful life of three years.

Costs incurred in the development of computer software which will be used to generate income are capitalised in accordance with FRS102.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period, and are discounted to present value where the effect is material.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The company makes contributions to employee's defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and the post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 76 (2023 - 66 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
Goodwill Trademarks costs Totals
£    £    £    £   
COST
At 1 January 2024 - 10,386 2,431,402 2,441,788
Additions 150,000 - 147,859 297,859
At 31 December 2024 150,000 10,386 2,579,261 2,739,647
AMORTISATION
At 1 January 2024 - - 1,918,964 1,918,964
Amortisation for year - 1,125 435,140 436,265
At 31 December 2024 - 1,125 2,354,104 2,355,229
NET BOOK VALUE
At 31 December 2024 150,000 9,261 225,157 384,418
At 31 December 2023 - 10,386 512,438 522,824

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 43,307 29,939 112,825 186,071
Additions - - 42,060 42,060
Disposals - - (3,462 ) (3,462 )
At 31 December 2024 43,307 29,939 151,423 224,669
DEPRECIATION
At 1 January 2024 15,785 3,896 35,088 54,769
Charge for year 13,377 4,491 39,262 57,130
Eliminated on disposal - - (281 ) (281 )
At 31 December 2024 29,162 8,387 74,069 111,618
NET BOOK VALUE
At 31 December 2024 14,145 21,552 77,354 113,051
At 31 December 2023 27,522 26,043 77,737 131,302

6. STOCKS
2024 2023
£    £   
Stocks 283,477 93,594

SUITS ME LIMITED (REGISTERED NUMBER: 07349753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,738 2,772
Other debtors 482,141 1,356
Prepayments and accrued income 287,691 274,882
838,570 279,010

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,395 10,140
Trade creditors 1,400,528 1,964,061
Social security and other taxes 70,393 167,151
Other creditors 31,498 21,113
Amounts due to related undertakings 625,707 662,722
Directors' current accounts 13,951,598 8,212,918
Accrued expenses 175,145 149,133
16,265,264 11,187,238

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,420 10,397
Bank loans - 2-5 years - 4,416
4,420 14,813

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,500 Ordinary A £1 8,500 8,500
1,500 Ordinary B £1 1,500 1,500
415 Ordinary C £1 415 415
10,415 10,415