REGISTERED NUMBER: 07817097 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Mowbray Leather Goods Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M Phan

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicestershire

LE19 1WP

REGISTERED NUMBER:

07817097 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mowbray Leather Goods Ltd for the year ended 31 December 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Mowbray Leather Goods Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mowbray Leather Goods Ltd and state those matters that we have agreed to state to the Board of Directors of Mowbray Leather Goods Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mowbray Leather Goods Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mowbray Leather Goods Ltd. You consider that Mowbray Leather Goods Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mowbray Leather Goods Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

29 September 2025

FIXED ASSETS

Tangible assets

4

37,436

48,267

CURRENT ASSETS

Stocks

12,834

16,856

Debtors

5

215,570

233,866

Cash at bank

41,077

54,220

269,481

304,942

CREDITORS

Amounts falling due within one year

6

97,736

114,894

NET CURRENT ASSETS

171,745

190,048

TOTAL ASSETS LESS CURRENT LIABILITIES

209,181

238,315

CREDITORS

Amounts falling due after more than one year

7

4,957

14,929

NET ASSETS

204,224

223,386

CAPITAL AND RESERVES

Called up share capital

8

20,000

20,000

Revaluation reserve

9

793

1,313

Capital redemption reserve

70,000

70,000

Retained earnings

113,431

132,073

SHAREHOLDERS' FUNDS

204,224

223,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 29 September 2025 and were signed by:

M Phan - Director

1.	STATUTORY INFORMATION

Mowbray Leather Goods Ltd 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.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. It also represents the value of services provided. Where a contract has only been partially completed at the balance turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

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

-

as specified in the terms of the lease

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

20% reducing balance

Equipment

-

33% on cost and 25% reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price.

Work in progress has been valued and is included within other trade debtors.

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.

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 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

6,200

166,408

27,749

41,585

241,942

Additions

-

-

-

2,115

2,115

At 31 December 2024

6,200

166,408

27,749

43,700

244,057

DEPRECIATION

At 1 January 2024

2,733

133,093

18,485

39,364

193,675

Charge for year

800

8,331

1,853

1,962

12,946

At 31 December 2024

3,533

141,424

20,338

41,326

206,621

NET BOOK VALUE

At 31 December 2024

2,667

24,984

7,411

2,374

37,436

At 31 December 2023

3,467

33,315

9,264

2,221

48,267

Plant & Machinery included above were recognised using an open market valuation as a deemed cost on transition to FRS 102. These assets are being depreciated from their valuation date of 1 January 2015.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

38,185

53,508

Other trade debtors

8,836

4,345

Amounts owed by group undertakings

168,549

176,013

215,570

233,866

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

9,817

9,972

Payments on account

-

24,975

Trade creditors

33,989

27,923

Social security and other taxes

5,568

4,890

VAT

9,182

13,646

Directors' current accounts

25,103

19,162

Accruals and deferred income

14,077

14,326

97,736

114,894

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

4,957

9,972

Bank loans - 2-5 years

-

4,957

4,957

14,929

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

20,000

Ordinary

£1

20,000

20,000

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

1,313

Revaluation

(520

)

At 31 December 2024

793

10.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £154,050 (2023: £201,450).