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REGISTERED NUMBER: 05229099 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

DIRECT BRAND LIMITED

DIRECT BRAND LIMITED (REGISTERED NUMBER: 05229099)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DIRECT BRAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mr C H M Gorst



REGISTERED OFFICE: 4 Brunel Buildings
Brunel Road
Newton Abbot
Devon
TQ12 4PB



REGISTERED NUMBER: 05229099 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC
42 Courtenay Street
Newton Abbot
Devon
TQ12 2EB

DIRECT BRAND LIMITED (REGISTERED NUMBER: 05229099)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 6 132,851 116,871
Debtors 7 18,493 61,918
Cash at bank and in hand 46,741 43,284
198,085 222,073
CREDITORS
Amounts falling due within one year 8 113,509 141,177
NET CURRENT ASSETS 84,576 80,896
TOTAL ASSETS LESS CURRENT LIABILITIES 84,576 80,896

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 84,575 80,895
SHAREHOLDERS' FUNDS 84,576 80,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:





Mr C H M Gorst - Director


DIRECT BRAND LIMITED (REGISTERED NUMBER: 05229099)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Direct Brand 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
The director decided to fully amortize website costs in 2022, on the basis they are general advertising costs and short term lead generating.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% 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 Statement of Income and Retained Earnings, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

DIRECT BRAND LIMITED (REGISTERED NUMBER: 05229099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 October 2023
and 30 September 2024 41,318
AMORTISATION
At 1 October 2023
and 30 September 2024 41,318
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023
and 30 September 2024 10,429
DEPRECIATION
At 1 October 2023
and 30 September 2024 10,429
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

6. STOCKS
2024 2023
£    £   
Stocks 132,851 116,871

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,649 12,276
VAT 3,042 49,642
Prepayments 2,802 -
18,493 61,918

DIRECT BRAND LIMITED (REGISTERED NUMBER: 05229099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,716 35,342
Amounts owed to group undertakings 16,566 26,853
Tax 619 -
Directors' current accounts 74,928 77,402
Accrued expenses 1,680 1,580
113,509 141,177

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr C H M Gorst
Balance outstanding at start of year (77,402 ) (74,389 )
Amounts advanced 2,474 321
Amounts repaid - (3,334 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (74,928 ) (77,402 )

Loans are unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the period the company had transactions with Crystal Technica Limited, with whom the company shares a director, Mr C H M Gorst.

The amount owing to Crystal Technica Limited at the period end, is £883 (2023: £11,170).

The company also has transactions with Nuvo Futura Limited, the ultimate controlling party and only shareholder.

The amount owing to Nuvo Futura Limited at the period end is £15,683 (2023: £15,683).

The loans are unsecured, interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Nuvo Futura Limited.

Registered Office and Principal Place of Business is 4 Brunel Buildings, Brunel Road, Newton Abbot, Devon, TQ12 4PB.