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Registered number: 10831653
Save Your Wardrobe Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 10831653
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 86,352 134,263
Tangible Assets 5 13,674 18,269
Investments 3,575 2,720
103,601 155,252
CURRENT ASSETS
Stocks 6 134,848 78,018
Debtors 7 217,997 182,920
Cash at bank and in hand 6,943 82,042
359,788 342,980
Creditors: Amounts Falling Due Within One Year 8 (2,491,146 ) (750,203 )
NET CURRENT ASSETS (LIABILITIES) (2,131,358 ) (407,223 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,027,757 ) (251,971 )
NET LIABILITIES (2,027,757 ) (251,971 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium account 2,679,514 2,679,514
Other reserves 35,793 34,353
Profit and Loss Account (4,743,066 ) (2,965,840 )
SHAREHOLDERS' FUNDS (2,027,757) (251,971)
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Page 2
For the year ending 30 June 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
M Doghri
Director
26th June 2025
The notes on pages 4 to 7 form part of these financial statements.
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Page 3
Statement of Changes in Equity
Share Capital Share Premium Other reserves Profit and Loss Account Total
£ £ £ £ £
As at 1 July 2022 as previously stated 2 2,679,514 - (1,707,162 ) 972,354
Prior year adjustment - - - 191,682 191,682
As at 1 July 2022 as restated 2 2,679,514 - (1,515,480 ) 1,164,036
(1,515,480 )
Loss for the year and total comprehensive income - - - (1,450,360 ) (1,450,360)
Movements in other reserves - - 34,353 - 34,353
As at 30 June 2023 and 1 July 2023 2 2,679,514 34,353 (2,965,840 ) (251,971)
Loss for the year and total comprehensive income - - - (1,777,226 ) (1,777,226)
Movements in other reserves - - 1,440 - 1,440
As at 30 June 2024 2 2,679,514 35,793 (4,743,066 ) (2,027,757)
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Page 4
Notes to the Financial Statements
1. General Information
Save Your Wardrobe Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10831653 . The registered office is Arquen House, 4-6 Spicer Street, St. Albans, AL3 4PQ.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of seven years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided on the following basis:
Computer Equipment 25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. 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.
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2.9. 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.
2.10. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due. The assets of the plan are held separately from the company in independently administered funds.
2.11. Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment. The company owns 99.98% holding of Save Your Wardrobe Tunisia SARL, an entity incorporated in Tunisia.
2.12. Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the
profit and loss over the vesting period. Non-market conditions are taken into account by adjusting the number of
equity instruments expected to vest at each Statement of Financial Posision date so that, ultimately, the cumulative
amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting
conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to
achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control
of either party (such as target based on an index) or factors which are within the control of one of other of the parties
(such as the Company keeping the scheme open or the employee maintaining any contributions required by the
scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options,
measured immediately before and after the modification, is also charged to the profit and loss over the remaining
vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of
goods or services received.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 11)
10 11
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 269,925
Additions 10,200
As at 30 June 2024 280,125
Amortisation
As at 1 July 2023 135,662
Provided during the period 58,111
As at 30 June 2024 193,773
Net Book Value
As at 30 June 2024 86,352
As at 1 July 2023 134,263
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 31,960
Additions 2,665
Disposals (2,653 )
As at 30 June 2024 31,972
Depreciation
As at 1 July 2023 13,691
Provided during the period 7,260
Disposals (2,653 )
As at 30 June 2024 18,298
Net Book Value
As at 30 June 2024 13,674
As at 1 July 2023 18,269
6. Stocks
2024 2023
£ £
Stock 134,848 78,018
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,547 8,794
Prepayments and accrued income 8,309 8,895
Other debtors 89,431 29,823
Corporation tax recoverable assets 117,710 135,408
217,997 182,920
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 127,728 92,727
Bank loans and overdrafts 2 -
Other taxes and social security 17,571 15,169
Other creditors 555 50
Convertible Debt 2,342,568 605,916
Accruals and deferred income 2,722 36,341
2,491,146 750,203
During the year to 30th June 2024 the company received £1,736,652 of convertible loans. Interest is payable on this at 8% per annum, and will be converted into equity at the next funding round.
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2,354,314 Ordinary Shares of £ 0.000001 each 2 2
10. Other Commitments
2024 2023
£ £
Not later than one year - 27,738
- 27,738
Operating leases relates to land and buildings.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Hasna Kourdaa 9,578 16,634 (5,180 ) - 21,032
Mr Mehdi Doghri 7,601 38,652 (5,144 ) - 41,108
The above loans are unsecured and repayable on demand, interest is being accrued on the outstanding loan balances at a rate of 2.25%. The overdrawn balances were repaid within 9 months of the financial year end.
12. Ultimate Controlling Party
In the opinion of the directors, there is no single ultimate controlling party.
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