REGISTERED NUMBER: 10878953 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

JK ATTIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Ball

D E Jacobson

J Toomey

D Kairys

REGISTERED OFFICE:

Buncton Barn

Buncton Lane

Bolney

Haywards Heath

RH17 5RE

REGISTERED NUMBER:

10878953 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,026

10,300

12,026

10,300

CURRENT ASSETS

Stocks

721,521

411,312

Debtors

6

804,968

482,144

Cash at bank

45,587

66,418

1,572,076

959,874

CREDITORS

Amounts falling due within one year

7

(4,796,838

)

(4,074,953

)

NET CURRENT LIABILITIES

(3,224,762

)

(3,115,079

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,212,736

)

(3,104,779

)

PROVISIONS FOR LIABILITIES

(3,007

)

(2,575

)

NET LIABILITIES

(3,215,743

)

(3,107,354

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(3,215,843

)

(3,107,454

)

SHAREHOLDERS' FUNDS

(3,215,743

)

(3,107,354

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

J P Ball - Director

1.	STATUTORY INFORMATION

JK Attire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The ultimate parent company has confirmed that they will provide support to enable the company to fulfil its financial obligations as and when they fall due for a period of at least 12 months of approval of the financial statements.

The directors have prepared cashflow forecasts and have assessed that the operating cashflows generated, together with the financial support outlined above is adequate to ensure that the company will meet its liabilities as and when they fall due for a period of at least twelve months from the date from which these accounts were approved. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

3,606

AMORTISATION

At 1 April 2024

and 31 March 2025

3,606

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

8,536

16,000

20,212

44,748

Additions

4,873

-

503

5,376

At 31 March 2025

13,409

16,000

20,715

50,124

DEPRECIATION

At 1 April 2024

5,903

10,871

17,674

34,448

Charge for year

1,877

769

1,004

3,650

At 31 March 2025

7,780

11,640

18,678

38,098

NET BOOK VALUE

At 31 March 2025

5,629

4,360

2,037

12,026

At 31 March 2024

2,633

5,129

2,538

10,300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

83,091

45,541

Other debtors

721,877

436,603

804,968

482,144

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

632,055

211,391

Amounts owed to group undertakings

2,601,135

2,739,235

Taxation and social security

141,477

103,157

Other creditors

1,422,171

1,021,170

4,796,838

4,074,953

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

19,200

19,200

Between one and five years

-

19,200

19,200

38,400

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

60

Ordinary A Shares

1

60

60

40

Ordinary B Shares

1

40

40

100

100

10.	RELATED PARTY DISCLOSURES

The parent company, Westminster Apparel Limited, a company incorporated in England and Wales, provided a loan to the company in previous years. The total balance due at the reporting date was £2,329,635 (2024: £2,455,735). Interest has been charged on the loan at 10% per annum. Interest of £1,234,240 (2024: £972,477) has been accrued since the loan was provided.

In 2020 the company received a non-interest bearing loan from Centrefire Limited, a company that owns a 70% shareholding in the immediate parent company Westminster Apparel Limited. The amount outstanding at the year end was £283,500 (2024: £283,500). All amounts are interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Westminster Apparel Limited by virtue of its ownership of 65% of the shares issued by the company. It is the belief of the directors that the ultimate controlling party is WGT Limited as trustee of The 2017 Jacobson Settlement a company which is resident in Jersey.