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REGISTERED NUMBER: 11532603 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SERGIO'S MENSWEAR LTD

SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SERGIO'S MENSWEAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr M Serghides
Mr D Kyriacou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 11532603 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,676 2,233

CURRENT ASSETS
Stocks 5 62,500 94,500
Debtors 6 18,374 17,998
Cash at bank and in hand 48,817 33,764
129,691 146,262
CREDITORS
Amounts falling due within one year 7 50,150 79,301
NET CURRENT ASSETS 79,541 66,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,217

69,194

CREDITORS
Amounts falling due after more than one
year

8

28,203

33,348
NET ASSETS 53,014 35,846

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 52,914 35,746
SHAREHOLDERS' FUNDS 53,014 35,846

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Mr M Serghides - Director


SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

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


1. STATUTORY INFORMATION

Sergio's Menswear Ltd 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 represents amounts derived from the sale of goods to customers during the year, and is recognised at the date the risks and rewards of ownership of goods were transferred to the customer. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 6,466 1,105 7,571
DEPRECIATION
At 1 September 2023 4,698 640 5,338
Charge for year 442 115 557
At 31 August 2024 5,140 755 5,895
NET BOOK VALUE
At 31 August 2024 1,326 350 1,676
At 31 August 2023 1,768 465 2,233

5. STOCKS
31.8.24 31.8.23
£    £   
Closing Stock 62,500 94,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 14,625 14,625
Prepayments 3,749 3,373
18,374 17,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 5,153 5,162
Trade creditors 22,931 51,316
Tax 5,564 7,428
VAT 13,909 13,226
Other creditors 418 169
Accrued expenses 2,175 2,000
50,150 79,301

SERGIO'S MENSWEAR LTD (REGISTERED NUMBER: 11532603)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 5,153 5,280
Bank loans - 2-5 years 15,458 16,671
Bank loans more 5 yr by instal 7,592 11,397
28,203 33,348

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,592 11,397

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary shares £1 100 100