Company No: 02894544 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	1,553,254		1,572,149
Investment property	4	357,000		825,000
		1,910,254		2,397,149
Current assets
Stocks	5	294,052		322,634
Debtors	6	2,546		12,428
Cash at bank and in hand		742,541		428,907
		1,039,139		763,969
Creditors: amounts falling due within one year	7	( 130,183)		( 173,983)
Net current assets		908,956		589,986
Total assets less current liabilities		2,819,210		2,987,135
Provision for liabilities	8	( 110,122)		( 110,087)
Net assets		2,709,088		2,877,048
Capital and reserves
Called-up share capital	9	956		956
Other reserves		268,265		268,265
Profit and loss account		2,439,867		2,607,827
Total shareholders' funds		2,709,088		2,877,048

For the financial year ending 31 March 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of A & K Hosiery Limited (registered number: 02894544) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

A V Morris Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A & K Hosiery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in . The address of the Company's registered office is Valentine Trade Park, 104 Gelderd , Leeds, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2014 .

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probably that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Leasehold improvements	10 % reducing balance
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented 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

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	31.03.2025		31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		8

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 April 2024	1,366,425		63,209		43,457		206,891		212,499		41,081		1,933,562
Additions	0		5,620		218		41,000		625		6,896		54,359
Disposals	0		0		0		( 74,761)		0		0		( 74,761)
At 31 March 2025	1,366,425		68,829		43,675		173,130		213,124		47,977		1,913,160
Accumulated depreciation
At 01 April 2024	0		37,924		22,994		93,701		173,136		33,658		361,413
Charge for the financial year	0		2,750		3,085		31,070		5,935		3,873		46,713
Disposals	0		0		0		( 48,220)		0		0		( 48,220)
At 31 March 2025	0		40,674		26,079		76,551		179,071		37,531		359,906
Net book value
At 31 March 2025	1,366,425		28,155		17,596		96,579		34,053		10,446		1,553,254
At 31 March 2024	1,366,425		25,285		20,463		113,190		39,363		7,423		1,572,149

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	825,000
Disposals	(468,000)
As at 31 March 2025	357,000

Valuation

Investment properties were valued on an open market basis on 7th January 2015 by Moore Estate Agents & Surveyors and as at the year end the directors considered that this valuation remained appropriate, having regard to the current property market.

5. Stocks

	31.03.2025		31.03.2024
	£		£
Stocks	294,052		322,634

6. Debtors

	31.03.2025		31.03.2024
	£		£
Other debtors	2,546		12,428

7. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	100,835		127,787
Taxation and social security	21,216		38,606
Other creditors	8,132		7,590
	130,183		173,983

8. Provision for liabilities

	31.03.2025		31.03.2024
	£		£
Deferred tax	110,122		110,087

9. Called-up share capital

	31.03.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
950 Ordinary Shares shares of £ 1.00 each	950		950
5 B Ordinary Shares shares of £ 1.00 each	5		5
1 C Shares ordinary share of £ 1.00	1		1
	956		956