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Registration number: 03096927

Putu Clothing Company Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Putu Clothing Company Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Putu Clothing Company Limited

Company Information

Director

Mr Simon Baldwin

Company secretary

Mrs A B Baldwin

Registered office

17 St Mildreds Road
Guildford
Surrey
GU1 1TX

Accountants

F1 CRT Limited 24 Wellingtonia Court
Laine Close
Brighton
East Sussex
BN1 6TD

 

Putu Clothing Company Limited

(Registration number: 03096927)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

74,384

13,680

Current assets

 

Stocks

5

279,500

224,750

Debtors

115,653

82,453

Cash at bank and in hand

 

267,137

662,109

 

662,290

969,312

Prepayments and accrued income

 

115,435

116,091

Creditors: Amounts falling due within one year

(191,066)

(322,502)

Net current assets

 

586,659

762,901

Total assets less current liabilities

 

661,043

776,581

Provisions for liabilities

(3,420)

(3,420)

Accruals and deferred income

 

(25,338)

(39,834)

Net assets

 

632,285

733,327

Capital and Reserves

 

Called up share capital

6

100

100

Retained Earnings

632,185

733,227

Shareholders' funds

 

632,285

733,327

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Putu Clothing Company Limited

(Registration number: 03096927)
Abridged Balance Sheet as at 31 August 2024

Approved and authorised by the director on 30 May 2025
 

.........................................
Mr Simon Baldwin
Director

 

Putu Clothing Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
17 St Mildreds Road
Guildford
Surrey
GU1 1TX

These financial statements were authorised for issue by the director on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Putu Clothing Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% on the written down value

Motor vehicles

25% on the written down value

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 business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Putu Clothing Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Ttrade Creditors

Ttrade 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.

Ttrade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 12).

 

Putu Clothing Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

132,653

60,922

193,575

Additions

500

83,672

84,172

Disposals

-

(30,922)

(30,922)

At 31 August 2024

133,153

113,672

246,825

Depreciation

At 1 September 2023

121,432

58,463

179,895

Charge for the year

2,344

21,668

24,012

Eliminated on disposal

-

(31,466)

(31,466)

At 31 August 2024

123,776

48,665

172,441

Carrying amount

At 31 August 2024

9,377

65,007

74,384

At 31 August 2023

11,221

2,459

13,680

5

Stocks

2024
£

2023
£

Other inventories

279,500

224,750

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Putu Clothing Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £1,200.00 (2023 - £1,100.00) per each Ordinary

120,000

110,000

 

 

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

13,200

13,200