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REGISTERED NUMBER: 03002749 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SELECTION CORPORATE CLOTHING LIMITED

SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECTION CORPORATE CLOTHING LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTORS: Mr M D Joseph
Mrs R Joseph
D Sakhuja





SECRETARY: Mrs R M Joseph





REGISTERED OFFICE: 10 London Mews
London
LONDON
W2 1HY





REGISTERED NUMBER: 03002749 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
London
W21HY

SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 26,216 -
Tangible assets 5 102,835 75,024
129,051 75,024

CURRENT ASSETS
Stocks 6 1,218,992 1,281,468
Debtors 7 1,668,884 1,337,362
Cash at bank 321,140 106,530
3,209,016 2,725,360
CREDITORS
Amounts falling due within one year 8 1,861,562 1,652,972
NET CURRENT ASSETS 1,347,454 1,072,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,476,505

1,147,412

CREDITORS
Amounts falling due after more than one
year

9

75,424

80,867
NET ASSETS 1,401,081 1,066,545

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,400,981 1,066,445
SHAREHOLDERS' FUNDS 1,401,081 1,066,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)

BALANCE SHEET - continued
31 October 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 Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr M D Joseph - Director


SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Selection Corporate Clothing 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.

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.

Going concern
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents net invoiced sale of goods and services, excluding value added tax.

Rendering of services

Sales are recognised once the customer has agreed to purchase the goods and the order is processed.

Intangible assets
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.

Website development is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% straight line
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance

Depreciation is not provided in respect of long leasehold commercial property. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may give a true and fair view because the current value and changes in the current value are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation.

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

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 22 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Website
development
£   
COST
Additions 32,770
At 31 October 2024 32,770
AMORTISATION
Amortisation for year 6,554
At 31 October 2024 6,554
NET BOOK VALUE
At 31 October 2024 26,216

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 November 2023 43,822 15,614 18,549 127,748 205,733
Additions - - 11,950 30,248 42,198
At 31 October 2024 43,822 15,614 30,499 157,996 247,931
DEPRECIATION
At 1 November 2023 - 15,613 13,632 101,464 130,709
Charge for year - - 2,225 12,162 14,387
At 31 October 2024 - 15,613 15,857 113,626 145,096
NET BOOK VALUE
At 31 October 2024 43,822 1 14,642 44,370 102,835
At 31 October 2023 43,822 1 4,917 26,284 75,024

SELECTION CORPORATE CLOTHING LIMITED (REGISTERED NUMBER: 03002749)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

6. STOCKS
31.10.24 31.10.23
£    £   
Stocks 1,218,992 1,281,468

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 1,298,106 1,104,123
Other debtors 370,778 233,239
1,668,884 1,337,362

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 306,239 328,926
Hire purchase contracts 3,983 -
Trade creditors 832,649 537,738
Taxation and social security 134,594 106,042
Other creditors 584,097 680,266
1,861,562 1,652,972

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 7,953 17,367
Hire purchase contracts 6,971 -
Other creditors 60,500 63,500
75,424 80,867

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 314,192 346,293

HSBC holds a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100