1 November 2023 false No description of principal activity Taxfiler 2024.6 SC126791business:PrivateLimitedCompanyLtd2023-11-012024-10-31 SC1267912023-10-31 SC1267912023-11-012024-10-31 SC126791business:AuditExemptWithAccountantsReport2023-11-012024-10-31 SC126791business:AbridgedAccounts2023-11-012024-10-31 SC1267912024-10-31 SC126791business:Director12023-11-012024-10-31 SC126791business:Director22023-11-012024-10-31 SC126791business:Director32023-11-012024-10-31 SC126791business:Director42023-11-012024-10-31 SC126791business:Director52023-11-012024-10-31 SC126791business:RegisteredOffice2023-11-012024-10-31 SC1267912023-10-31 SC126791core:WithinOneYear2024-10-31 SC126791core:WithinOneYear2023-10-31 SC126791core:ShareCapitalcore:PreviouslyStatedAmount2024-10-31 SC126791core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC126791core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-10-31 SC126791core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC126791core:PreviouslyStatedAmount2024-10-31 SC126791core:PreviouslyStatedAmount2023-10-31 SC126791business:SmallEntities2023-11-012024-10-31 SC126791countries:Scotland2023-11-012024-10-31 SC126791core:PlantMachinery2023-11-012024-10-31 SC126791core:FurnitureFittings2023-11-012024-10-31 SC1267912022-11-012023-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC126791 (Scotland)
Aero Leather Clothing Ltd. Unaudited accounts for the year ended 31 October 2024
Aero Leather Clothing Ltd. Unaudited accounts Contents
Page
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Aero Leather Clothing Ltd. Company Information for the year ended 31 October 2024
Directors
K Calder L Calder D Calder H Calder H Tsuchiya
Company Number
SC126791 (Scotland)
Registered Office
Greenbank Woollen Mill Huddersfield Street Galashiels Scotland TD1 3AY
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Aero Leather Clothing Ltd. Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
20,034 
28,846 
Tangible assets
14,376 
18,510 
34,410 
47,356 
Current assets
Inventories
299,633 
334,301 
Debtors
171,747 
189,942 
Cash at bank and in hand
94,120 
36,992 
565,500 
561,235 
Creditors: amounts falling due within one year
(146,083)
(146,946)
Net current assets
419,417 
414,289 
Total assets less current liabilities
453,827 
461,645 
Provisions for liabilities
Deferred tax
- 
(488)
Net assets
453,827 
461,157 
Capital and reserves
Called up share capital
4,000 
4,000 
Profit and loss account
449,827 
457,157 
Shareholders' funds
453,827 
461,157 
For the year ending 31 October 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by
K Calder Director Company Registration No. SC126791
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Aero Leather Clothing Ltd. Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Aero Leather Clothing Ltd. is a private company, limited by shares, registered in Scotland, registration number SC126791. The registered office is Greenbank Woollen Mill, Huddersfield Street, Galashiels, Scotland, TD1 3AY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line
Fixtures & fittings
15% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill, patents, trade marks and capitalised website costs) are included at cost less accumulated amortisation. All intangible fixed assets are being amortised over 5 years.
Inventories
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Aero Leather Clothing Ltd. Notes to the Accounts for the year ended 31 October 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 November 2023
144,056 
At 31 October 2024
144,056 
Amortisation
At 1 November 2023
115,210 
Charge for the year
8,812 
At 31 October 2024
124,022 
Net book value
At 31 October 2024
20,034 
At 31 October 2023
28,846 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 November 2023
81,806 
Additions
1,187 
At 31 October 2024
82,993 
Depreciation
At 1 November 2023
63,296 
Charge for the year
5,321 
At 31 October 2024
68,617 
Net book value
At 31 October 2024
14,376 
At 31 October 2023
18,510 
6
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 October 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
290 
7
Average number of employees
During the year the average number of employees was 27 (2023: 26).
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