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Registration number: 04271137

The Vintage Clothing Company Limited
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2025

The Vintage Clothing Company Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Unaudited Financial Statements | 3 to 8

The Vintage Clothing Company Limited

Company Information

Directors | Richard Philip Free Kim Elizabeth Free

Company secretary | Richard Philip Free

Registered office | Unit 36 Stephenson Way Formby Industrial Estate Formby L37 8EG

Accountants | S.B.P. (Southport) Limited T/A SB Patel & Co Chartered Certified Accountants Tolsey House 1 Marshside Road Churchtown Southport Merseyside PR9 9TL

The Vintage Clothing Company Limited

(Registration number: 04271137)
Statement of Financial Position as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 69,269 | 60,658
Current assets |  |  |
Stocks | 6 | 787,731 | 843,575
Debtors | 7 | 826,961 | 704,398
Cash at bank and in hand |  | 1,646,415 | 1,694,301
|  | 3,261,107 | 3,242,274
Creditors: Amounts falling due within one year | 8 | (245,724) | (331,662)
Net current assets |  | 3,015,383 | 2,910,612
Net assets |  | 3,084,652 | 2,971,270
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Retained earnings |  | 3,083,652 | 2,970,270
Shareholders' funds |  | 3,084,652 | 2,971,270

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 6 November 2025 and signed on its behalf by:

......................................... Richard Philip Free Director

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 36
Stephenson Way
Formby Industrial Estate
Formby
L37 8EG
England

These financial statements were authorised for issue by the Board on 6 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 56 (2024 - 53).

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4 | Intangible assets

| Goodwill £ | Trademarks, patents and licenses £ | Total £
Cost or valuation
At 1 March 2024 | 600,000 | 1,500 | 601,500
At 28 February 2025 | 600,000 | 1,500 | 601,500
Amortisation
At 1 March 2024 | 600,000 | 1,500 | 601,500
At 28 February 2025 | 600,000 | 1,500 | 601,500
Carrying amount
At 28 February 2025 | - | - | -

5 | Tangible assets

| Fixtures and fittings £ | Motor vehicles £ | Total £
Cost or valuation
At 1 March 2024 | 264,047 | 11,800 | 275,847
Additions | 5,295 | 24,499 | 29,794
Disposals | - | (11,800) | (11,800)
At 28 February 2025 | 269,342 | 24,499 | 293,841
Depreciation
At 1 March 2024 | 207,255 | 7,934 | 215,189
Charge for the year | 12,417 | 4,900 | 17,317
Eliminated on disposal | - | (7,934) | (7,934)
At 28 February 2025 | 219,672 | 4,900 | 224,572
Carrying amount
At 28 February 2025 | 49,670 | 19,599 | 69,269
At 29 February 2024 | 56,792 | 3,866 | 60,658

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 787,731 | 843,575

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 480,772 | 367,937
Prepayments | 303,906 | 278,464
Other debtors | 42,283 | 57,997
| 826,961 | 704,398

The Vintage Clothing Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 91,357 | 80,124
Taxation and social security | 136,006 | 236,776
Accruals and deferred income | 8,905 | 3,750
Other creditors | 9,456 | 11,012
| 245,724 | 331,662

9 | Related party transactions

Summary of transactions with associates

Free & Johanssons Vintage AB
During the year the company sold goods amounting to £ 261531 (2024: £ 279358) to 'Free & Johanssons Vintage AB' a company registered in Sweden and a company in which Mr R.P. Free has a controlling interest. These goods were sold on an arms length basis. An amount of £ 25036 (2024: £ 23630) was outstanding at the year end which is disclosed within Trade Debtors.
The Vintage Clothing Company FT GmbH
During the year the company sold goods amounting to £ 68688 (2024: £ 129007) to 'The Vintage Clothing Company FT GmbH' a company registered in Germany and a company in which Mr R.P. Free has a controlling interest. These goods were sold on an arms length basis. An amount of £ 197695 (2024: £ 129007) was outstanding at the year end which is disclosed within Trade Debtors.
During the year the company purchased goods amounting to £ 2050 (2024: £ 0) from 'The Vintage Clothing Company FT GmbH' a company registered in Germany and a company in which Mr R.P. Free has a controlling interest. These goods were purchased on an arms length basis. An amount of £ 0 (2024: £ 0) was outstanding at the year end which is disclosed within Trade Creditors.
During the year, there transactions totalling £0 (Comprising a €20,000 loan paid and then repaid) (2024: £34295) resulting in an intercompany loan to 'The Vintage Clothing Company FT GmbH' a company registered in Germany and a company in which Mr R.P. Free has a controlling interest. The amount outstanding at the end of the year was £ 34295 (2024: £ 34295) disclosed in other debtors.