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Registered number: 09787627
Yarn Collective Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09787627
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 111,338 99,470
Tangible Assets 5 31,464 17,232
142,802 116,702
CURRENT ASSETS
Stocks 6 342,176 274,039
Debtors 7 90,301 62,002
Cash at bank and in hand 51,273 36,711
483,750 372,752
Creditors: Amounts Falling Due Within One Year 8 (385,016 ) (353,498 )
NET CURRENT ASSETS (LIABILITIES) 98,734 19,254
TOTAL ASSETS LESS CURRENT LIABILITIES 241,536 135,956
Creditors: Amounts Falling Due After More Than One Year 9 (4,450 ) -
PROVISIONS FOR LIABILITIES
Provisions For Charges - (20,000 )
NET ASSETS 237,086 115,956
CAPITAL AND RESERVES
Called up share capital 10 4 4
Share premium account 99,999 99,999
Profit and Loss Account 137,083 15,953
SHAREHOLDERS' FUNDS 237,086 115,956
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
James Gomez
Director
4th June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Yarn Collective Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09787627 . The registered office is Unit PL504 Pall Mall Deposit, 124-128 Barlby Road, London, W10 6BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.  Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise  a bespoke sales and stock management system.It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line @ 20%
Fixtures & Fittings Straight line @ 10%
Computer Equipment Straight line @ 33%
2.5. Stocks and Work in Progress
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of
manufacturing/completion.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 110,467
Additions 24,120
As at 31 December 2024 134,587
Amortisation
As at 1 January 2024 10,997
Provided during the period 12,252
As at 31 December 2024 23,249
Net Book Value
As at 31 December 2024 111,338
As at 1 January 2024 99,470
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 16,152 3,048 9,688 28,888
Additions 18,317 1,664 1,604 21,585
As at 31 December 2024 34,469 4,712 11,292 50,473
Depreciation
As at 1 January 2024 3,481 450 7,725 11,656
Provided during the period 5,062 388 1,903 7,353
As at 31 December 2024 8,543 838 9,628 19,009
Net Book Value
As at 31 December 2024 25,926 3,874 1,664 31,464
As at 1 January 2024 12,671 2,598 1,963 17,232
6. Stocks
2024 2023
£ £
Stock 342,176 274,039
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 43,601 28,735
Other debtors 46,700 33,267
90,301 62,002
Page 4
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 285,451 241,454
Bank loans and overdrafts 28,196 24,820
Other loans 10,000 -
Other creditors 28,971 25,316
Taxation and social security 32,398 61,908
385,016 353,498
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,450 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 5