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Registration number: 04233101

City Look Imports Limited

Unaudited Filleted Financial Statements

for the Period from 29 February 2024 to 28 February 2025

 

City Look Imports Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

City Look Imports Limited

Company Information

Directors

Salim Tailor

Noorjhan Tailor

Company secretary

Noorjhan Tailor

Registered office

Harrison Trading Estate
Longworth Street
Preston
Lancashire
PR1 5DL

Accountants

S.B.P. (Southport) Limited T/A SB Patel & Co
Chartered Certified Accountants
Tolsey House
1 Marshside Road
Churchtown
Southport
Merseyside
PR9 9TL

 

City Look Imports Limited

(Registration number: 04233101)
Statement of Financial Position as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

29,587

33,891

Tangible assets

5

1,468,354

1,507,392

 

1,497,941

1,541,283

Current assets

 

Stocks

6

979,869

1,129,491

Debtors

7

557,484

539,778

Cash at bank and in hand

 

26,604

75,518

 

1,563,957

1,744,787

Creditors: Amounts falling due within one year

8

(629,930)

(742,827)

Net current assets

 

934,027

1,001,960

Total assets less current liabilities

 

2,431,968

2,543,243

Creditors: Amounts falling due after more than one year

8

(116,001)

(159,502)

Net assets

 

2,315,967

2,383,741

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

892,277

892,277

Retained earnings

1,423,590

1,491,364

Shareholders' funds

 

2,315,967

2,383,741

For the financial period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

City Look Imports Limited

(Registration number: 04233101)
Statement of Financial Position as at 28 February 2025

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

.........................................
Salim Tailor
Director

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

1

General information

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

The address of its registered office is:
Harrison Trading Estate
Longworth Street
Preston
Lancashire
PR1 5DL
England

These financial statements were authorised for issue by the Board on 19 June 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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue 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. Revenue 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.

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

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.

Trade creditors

Trade 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.

Trade 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 income statement 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 13 (2024 - 14).

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

4

Intangible assets

Trademarks, patents and licenses
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 29 February 2024

39,698

46,377

86,075

At 28 February 2025

39,698

46,377

86,075

Amortisation

At 29 February 2024

21,801

30,383

52,184

Amortisation charge

1,985

2,319

4,304

At 28 February 2025

23,786

32,702

56,488

Carrying amount

At 28 February 2025

15,912

13,675

29,587

At 28 February 2024

17,897

15,994

33,891

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 29 February 2024

1,473,272

394,474

28,603

1,896,349

Additions

6,570

951

-

7,521

At 28 February 2025

1,479,842

395,425

28,603

1,903,870

Depreciation

At 29 February 2024

78,008

285,676

25,273

388,957

Charge for the period

29,597

16,462

500

46,559

At 28 February 2025

107,605

302,138

25,773

435,516

Carrying amount

At 28 February 2025

1,372,237

93,287

2,830

1,468,354

At 28 February 2024

1,395,264

108,798

3,330

1,507,392

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

6

Stocks

2025
£

2024
£

Other inventories

979,869

1,129,491

7

Debtors

Current

2025
£

2024
£

Trade debtors

247,974

341,206

Prepayments

309,510

198,572

 

557,484

539,778

 

City Look Imports Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

40,381

56,453

Trade creditors

 

152,092

171,348

Taxation and social security

 

205,903

211,064

Accruals and deferred income

 

14,125

19,958

Other creditors

 

217,429

284,004

 

629,930

742,827

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

116,001

159,502

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

116,001

159,502

Current loans and borrowings

2025
£

2024
£

Bank borrowings

40,381

56,453