Company Registration No. SC757253 (Scotland)
Suited And Booted Dubai Ltd
Unaudited accounts
for the period from 29 February 2024 to 31 December 2024
Suited And Booted Dubai Ltd
Unaudited accounts
Contents
Suited And Booted Dubai Ltd
Company Information
for the period from 29 February 2024 to 31 December 2024
Directors
Ryan Smith
Raymond Smith
Company Number
SC757253 (Scotland)
Registered Office
18 Montrose Street
Glasgow
Lanarkshire
G1 1RE
Scotland
Accountants
Evolve Accountancy Solutions Limited
45 Daltons Fen
Pitsea
Basildon
Essex
SS13 1JE
Suited And Booted Dubai Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
149,439
41,667
Cash at bank and in hand
55,569
5,406
Creditors: amounts falling due within one year
(782,625)
(184,961)
Net current liabilities
(444,642)
(96,542)
Total assets less current liabilities
(295,203)
(54,875)
Provisions for liabilities
Deferred tax
(28,394)
(7,917)
Net liabilities
(323,597)
(62,792)
Called up share capital
1
1
Profit and loss account
(323,598)
(62,793)
Shareholders' funds
(323,597)
(62,792)
For the period ending 31 December 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 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 17 September 2025 and were signed on its behalf by
Ryan Smith
Director
Company Registration No. SC757253
Suited And Booted Dubai Ltd
Notes to the Accounts
for the period from 29 February 2024 to 31 December 2024
Suited And Booted Dubai Ltd is a private company, limited by shares, registered in Scotland, registration number SC757253. The registered office is 18 Montrose Street, Glasgow, Lanarkshire, G1 1RE, Scotland.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
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
Straight line - 5 years
Fixtures & fittings
Straight line - 5 years
Computer equipment
Straight line - 5 years
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.
Suited And Booted Dubai Ltd
Notes to the Accounts
for the period from 29 February 2024 to 31 December 2024
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 29 February 2024
-
41,667
-
41,667
Additions
11,524
99,883
17,886
129,293
At 31 December 2024
11,524
141,550
17,886
170,960
Charge for the period
1,729
16,330
3,462
21,521
At 31 December 2024
1,729
16,330
3,462
21,521
At 31 December 2024
9,795
125,220
14,424
149,439
At 28 February 2024
-
41,667
-
41,667
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Debtors
31/12/2024
28/02/2024
Amounts falling due within one year
Accrued income and prepayments
13,564
69,137
Amounts falling due after more than one year
Suited And Booted Dubai Ltd
Notes to the Accounts
for the period from 29 February 2024 to 31 December 2024
6
Creditors: amounts falling due within one year
31/12/2024
28/02/2024
Obligations under finance leases and hire purchase contracts
33,690
-
Trade creditors
17,980
19,020
Amounts owed to group undertakings and other participating interests
679,989
165,741
Taxes and social security
4,553
-
7
Share capital
31/12/2024
28/02/2024
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Average number of employees
During the period the average number of employees was 5 (28/02/2024: 2).