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Company Registration No. 6970840 (England and Wales)
Fine Hosiery Ltd Unaudited accounts for the year ended 31 July 2024
Fine Hosiery Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Fine Hosiery Ltd Company Information for the year ended 31 July 2024
Director
Hershel Moskowitz
Company Number
6970840 (England and Wales)
Registered Office
63 Leadale Road London N16 6DG United Kingdom
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Fine Hosiery Ltd Statement of financial position as at 31 July 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
70,900
86,157
Current assets
Inventories
234,300
192,603
Debtors
619,931
582,390
Cash at bank and in hand
11,730
14,810
865,961
789,803
Creditors: amounts falling due within one year
(520,533)
(454,768)
Net current assets
345,428
335,035
Total assets less current liabilities
416,328
421,192
Creditors: amounts falling due after more than one year
(73,676)
(106,217)
Net assets
342,652
314,975
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
341,652
313,975
Shareholders' funds
342,652
314,975
For the year ending 31 July 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 and authorised for issue on 24 October 2025 and were signed on its behalf by
Hershel Moskowitz Director Company Registration No. 6970840
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Fine Hosiery Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Fine Hosiery Ltd is a private company, limited by shares, registered in England and Wales, registration number 6970840. The registered office is 63 Leadale Road, London, N16 6DG, United Kingdom.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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
15% Reducing Balance Basis
Fixtures & fittings
15% Reducing Balance Basis
Computer equipment
33% Reducing Balance Basis
Turnover
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.
Inventories
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.
Financial instruments
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.
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Fine Hosiery Ltd Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 August 2023
182,748
Additions
8,374
At 31 July 2024
191,122
Depreciation
At 1 August 2023
96,591
Charge for the year
23,631
At 31 July 2024
120,222
Net book value
At 31 July 2024
70,900
At 31 July 2023
86,157
5
Transactions with related parties
Included within debtors is an amount of £495,188 (2023: £434,390) due from a company with a director in common with this company. Included within creditors are amounts aggregating to £41,994 (2023: £16,724) owed to companies with a director in common with this company.
6
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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