Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Rays House
North Circular Road
East of Hanger Lane Roundabout
London
NW10 7XP

These financial statements were authorised for issue by the director on 29 December 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from sales of goods in the ordinary course of the company’s activities. Turnover 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class	Depreciation method and rate
Office Equipments	25% on reducing balance method
Motor Vehicle	25% on reducing balance method

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.

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.

Borrowings

Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2024 - 7).

Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Short leasehold land and buildings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	7,608	-	20,000	27,608
Additions	22,515	2,527	10,805	35,847
At 31 March 2025	30,123	2,527	30,805	63,455
Depreciation
At 1 April 2024	-	-	417	417
Charge for the year	-	632	7,597	8,229
At 31 March 2025	-	632	8,014	8,646
Carrying amount
At 31 March 2025	30,123	1,895	22,791	54,809
At 31 March 2024	7,608	-	19,583	27,191

Included within the net book value of land and buildings above is £30,123 (2024 - £7,608) in respect of short leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Work in progress	937,875	408,199
Finished goods and goods for resale	467,404	141,654
	1,405,279	549,853

6

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties	10	222,609	195,050
Prepayments		-	803
Other debtors		29,211	1,000
Staff loans		5,414	-
Advance to suppliers		75,555	-
		332,789	196,853

Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	259,741	158,579
Taxation and social security	228,523	116,978
Accruals and deferred income	2,486,835	1,136,863
Other creditors	79,538	1,673
	3,054,637	1,414,093

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	11,453	21,921

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	1,000	1,000	1,000	1,000

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,453	21,921

10	Related party transactions

Clipper Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	75,000	10,000

Summary of transactions with all entities with common control or significant interest

The director is also a director of other companies.

Loans from related parties

2025	Entities with common control or significant influence £	Total £
At start of period	195,050	195,050
Advanced	287,373	287,373
Repaid	(259,814)	(259,814)
At end of period	222,609	222,609

2024	Entities with common control or significant influence £	Total £
Advanced	195,050	195,050
At end of period	195,050	195,050

Terms of loans from related parties

Due on demand