Silhouette Lingerie Limited - Filleted accounts

Registered number

05039822

Silhouette Lingerie Limited

Filleted Accounts

31 October 2024

Silhouette Lingerie Limited
Registered number:		05039822
Balance Sheet
as at 31 October 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		2,627			843

Current assets
Stocks		100,284			100,423
Debtors	4	139,557			188,399
Cash at bank and in hand		8,838			13,240
		248,679			302,062

Creditors: amounts falling due within one year	5	(164,887)			(195,630)

Net current assets			83,792			106,432

Total assets less current liabilities			86,419			107,275

Creditors: amounts falling due after more than one year	6		(84,460)			(89,462)



Net assets			1,959			17,813

Capital and reserves
Called up share capital			1			1
Profit and loss account			1,958			17,812

Shareholders' funds			1,959			17,813

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr A Gasiunas
Director
Approved by the board on 21 October 2025

Silhouette Lingerie Limited
Notes to the Accounts
for the year ended 31 October 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	15% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 November 2023	5,025		2,995		8,020
	Additions	-		2,495		2,495
	At 31 October 2024	5,025		5,490		10,515

	Depreciation
	At 1 November 2023	4,308		2,869		7,177
	Charge for the year	108		603		711
	At 31 October 2024	4,416		3,472		7,888

	Net book value
	At 31 October 2024	609		2,018		2,627
	At 31 October 2023	717		126		843


4	Debtors			2024		2023
£					£

	Trade debtors			2,026		56,951
	Other debtors			137,531		131,448
				139,557		188,399


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			5,000		5,001
	Trade creditors			7,044		5,536
	Taxation and social security costs			884		1,261
	Other creditors			151,959		183,832
				164,887		195,630


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			84,460		89,462


7	Other information

	Silhouette Lingerie Limited is a private company limited by shares and incorporated in England. Its registered office is:
	8 Rowley Avenue
	West Didsbury
	Manchester
	Lancashire
	M20 2XD

8	Related Parties

	Included within other debtors is a loan owed to the company of £135,571 which is owed from a company jointly controlled by the directors. This loan is interest free and repayable on demand.

	Included within other creditors is a loan of £51,697, which is owed to a company jointly controlled by the directors. This loan is interest free and repayable on demand.

	Included within other creditors due after one year is a loan of £81,545, which is owed to a company in which a director has a shareholding. This loan is interest free and repayable on demand.