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REGISTERED NUMBER: 09568868 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

WOODWARD MENSWEAR BANSTEAD LIMITED

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOODWARD MENSWEAR BANSTEAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: M Ritson





REGISTERED OFFICE: 29 High Street
Banstead
Surrey
SM7 2NH





REGISTERED NUMBER: 09568868 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 390 -
390 -

CURRENT ASSETS
Stocks 41,857 46,118
Debtors 6 22,726 24,585
Cash at bank and in hand 4,642 3,093
69,225 73,796
CREDITORS
Amounts falling due within one year 7 159,115 144,971
NET CURRENT LIABILITIES (89,890 ) (71,175 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(89,500

)

(71,175

)

CREDITORS
Amounts falling due after more than one
year

8

13,458

22,962
NET LIABILITIES (102,958 ) (94,137 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (103,058 ) (94,237 )
SHAREHOLDERS' FUNDS (102,958 ) (94,137 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2025 and were signed by:





M Ritson - Director


WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Woodward Menswear Banstead Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Purchased goodwill is capitalised. The useful life cannot reliably be estimated by the directors. Accordingly the estimated useful life has been reduced from 10 years to 5 years.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and Buildings -over the terms of the lease
Fixtures and Fittings -20%
Computer Equipment -25%

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 49,112
AMORTISATION
At 1 October 2023
and 30 September 2024 49,112
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 4,807 28,874 33,681
Additions - 487 487
At 30 September 2024 4,807 29,361 34,168
DEPRECIATION
At 1 October 2023 4,807 28,874 33,681
Charge for year - 97 97
At 30 September 2024 4,807 28,971 33,778
NET BOOK VALUE
At 30 September 2024 - 390 390

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 912 2,862
Other debtors 21,814 21,723
22,726 24,585

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 14,700 5,324
Company credit card 21,277 19,137
Trade creditors 61,821 67,678
Taxation and social security 8,273 7,862
Other creditors 53,044 44,970
159,115 144,971

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 13,458 22,962

9. LOANS

Bounce back loan scheme taken out during Covid pandemic is secured by the government guarantee.

10. SECURED DEBTS

Liberis Finance is secured by the director's personal guarantee.

Balance as at 30th September 2024 is £7,778.56 (30th September 2023 : £10,673.12)

11. OTHER FINANCIAL COMMITMENTS

At 30th September 2024, the company had total commitments under non-cancellable operating lease over the remaining life of lease of £132,000. (2023: £176,000).

12. RELATED PARTY DISCLOSURES

Rental payments over the remainder of the lease are personally guaranteed by the director. Outstanding rental payments as at 30th September 2024 are £132,000 (30th September 2023: £176,000).

Loans provided to the company by the Director in the year are non-interest bearing loans and repayable on demand. Director's loan balance as at 30th September 2024 is £33,742.54 (30th September 2023 : £29,620.37)

13. ULTIMATE CONTROLLING PARTY

The controlling party is M Ritson.

WOODWARD MENSWEAR BANSTEAD LIMITED (REGISTERED NUMBER: 09568868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. GOING CONCERN

The Company has incurred a loss during the year ended 30th September 2024 and, as at that date, the company's current liability exceed current assets by £89,890 (2023: £71,175).
The director has reviewed the adequacy of working capital requirements for the next twelve months and indicated that he will continue to support the cashflow requirements of the business based on his assessment.
As at the balance sheet date, the company's liabilities exceeded its assets.
The company has received assurance from the director that he will continue to give financial support to the company for twelve months from the date of signing the financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above is not forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value to their realisable amounts to the company's assets or liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

15. PENSION COMMITMENTS

The company operates a defined contribution pension scheme with Legal & General. The assets of the scheme are held separately in an independent administered fund.At the balance sheet date, unpaid contributions of £Nil (2023: £Nil) were due to the fund.