HG FASHION LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12386458

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		44,901		32,688

			44,901		32,688
CURRENT ASSETS
Stocks	5	455,000		355,280
Debtors	6	35,888		9,231
Cash at bank and in hand		39,693		55,721

		530,581		420,232
Creditors: Amounts Falling Due Within One Year	7	(566,767 )		(423,855 )

NET CURRENT ASSETS (LIABILITIES)			(36,186 )		(3,623 )

TOTAL ASSETS LESS CURRENT LIABILITIES			8,715		29,065

Creditors: Amounts Falling Due After More Than One Year	8		(25,098 )		(33,407 )

NET LIABILITIES			(16,383 )		(4,342 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			(16,384 )		(4,343 )

SHAREHOLDERS' FUNDS			(16,383)		(4,342)

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HG FASHION LTD

Balance Sheet (continued)

As At 31 January 2024

For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her 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

Mrs HARJIT KAUR

Director

26/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

HG FASHION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12386458 . The registered office is 2 PHILPOT STREET, LONDON, E1 2DS.

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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20%
Motor Vehicles	20%
Fixtures & Fittings	15%

2.4. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 2)

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HG FASHION LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 February 2023	1,825	21,244	22,760	45,829
Additions	-	22,548	-	22,548

As at 31 January 2024	1,825	43,792	22,760	68,377

Depreciation
As at 1 February 2023	365	4,249	8,527	13,141
Provided during the period	292	7,908	2,135	10,335

As at 31 January 2024	657	12,157	10,662	23,476

Net Book Value
As at 31 January 2024	1,168	31,635	12,098	44,901

As at 1 February 2023	1,460	16,995	14,233	32,688

5. Stocks

	2024	2023
	£	£
Finished goods	455,000	355,280

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	32,675	-
Other debtors	3,213	9,231

	35,888	9,231

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	431,131	341,248
Other creditors	132,523	82,560
Taxation and social security	3,113	47

	566,767	423,855

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HG FASHION LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	25,098	33,407

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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