Pizazz Clothing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI026829

Pizazz Clothing Limited

Filleted Unaudited Financial Statements

31 July 2025

Pizazz Clothing Limited

Statement of Financial Position

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,045	2,875

Current assets

Stocks		10,972	16,187
Debtors	6	–	457
Cash at bank and in hand		53,275	40,406
		--------	--------
		64,247	57,050

Creditors: amounts falling due within one year	7	37,195		25,553
		--------		--------
Net current assets			27,052	31,497
			--------	--------
Total assets less current liabilities			29,097	34,372

Creditors: amounts falling due after more than one year	8		1,991	4,813

Provisions

Taxation including deferred tax	389	546
	--------	--------
Net assets	26,717	29,013
	--------	--------

Capital and reserves

Called up share capital	10	10,000	10,000
Profit and loss account	11	16,717	19,013
		--------	--------
Shareholders funds		26,717	29,013
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pizazz Clothing Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 8 May 2026 , and are signed on behalf of the board by:

Mrs E Taylor
Director

Company registration number: NI026829

Pizazz Clothing Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & fittings	-	10% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 August 2024 and 31 July 2025	8,435	3,206	11,641
	-------	-------	--------
Depreciation
At 1 August 2024	7,109	1,657	8,766
Charge for the year	313	517	830
	-------	-------	--------
At 31 July 2025	7,422	2,174	9,596
	-------	-------	--------
Carrying amount
At 31 July 2025	1,013	1,032	2,045
	-------	-------	--------
At 31 July 2024	1,326	1,549	2,875
	-------	-------	--------

6. Debtors

	2025	2024
	£	£
Other debtors	–	457
	----	----

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	3,195	3,195
Trade creditors	8,165	9,603
Corporation tax	1,073	611
Social security and other taxes	10,794	9,394
Other creditors	13,968	2,750
	--------	--------
	37,195	25,553
	--------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,991	4,813
	-------	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	389	546
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	389	546
	----	----

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

11. Reserves

The profit and loss account reserve records retained earnings and accumulated losses.

12. Director's advances, credits and guarantees

13. Related party transactions

The company was under the control of Mrs Taylor throughout the current and previous year. Mrs Taylor is the managing director and shareholder. The amount due from the director is disclosed in note 16. There are no other related parties requiring disclosure.