PREUSED LTD

Company Registration Number:
13432004 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2025

Period of accounts

Start date: 01 January 2025

End date: 31 December 2025

PREUSED LTD

Contents of the Financial Statements

for the Period Ended 31 December 2025

Balance sheet
Notes

PREUSED LTD

Balance sheet

As at 31 December 2025


Notes
2025
2024


£
£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 378,254 3,861
Total fixed assets: 378,254 3,861
Current assets
Stocks: 269,969 204,180
Debtors:     8,265
Cash at bank and in hand: 83,095 112,528
Total current assets: 353,064 324,973
Creditors: amounts falling due within one year:   (18,994) (62,672)
Net current assets (liabilities): 334,070 262,301
Total assets less current liabilities: 712,324 266,162
Creditors: amounts falling due after more than one year: 4 (372,791) (14,000)
Total net assets (liabilities): 339,533 252,162
Capital and reserves
Called up share capital: 100 100
Other reserves: 230,000 230,000
Profit and loss account: 109,433 22,062
Shareholders funds: 339,533 252,162

The notes form part of these financial statements

PREUSED LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 May 2026
and signed on behalf of the board by:

Name: John Crayford
Status: Director

The notes form part of these financial statements

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover Policy Turnover represents amounts receivable for goods supplied during the year, stated net of discounts, returns, Value Added Tax, and other applicable sales taxes. The company operates the VAT Margin Scheme for eligible second-hand goods. Under this scheme, VAT is accounted for on the margin achieved on qualifying sales rather than on the full selling price. Revenue is recognised in accordance with FRS 102 based on the consideration receivable from customers.

Tangible fixed assets and depreciation policy

Tangible Fixed Assets Depreciation Policy Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life: * Fixtures and fittings – 10% straight line * Motor vehicles – 20% straight line Depreciation is charged monthly on a pro-rata basis.

Intangible fixed assets and amortisation policy

The company has no intangible fixed assets requiring amortisation during the year.

Valuation and information policy

Valuation Information Policy Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete, damaged, slow-moving, or unsaleable items. Net realisable value is based on estimated selling prices less all further costs expected to be incurred in bringing the stock to sale or disposal. The company operates within the second-hand clothing and textile sector, where stock values are materially affected by grading, condition, obsolescence, export recoverability, and disposal costs. Where appropriate, inventory valuations reflect expected handling, sorting, baling, transport, export, and clearance costs associated with low-grade or residual stock holdings, in accordance with FRS 102 Section 13.

Other accounting policies

Other Accounting Policies The financial statements have been prepared under the historical cost convention. Turnover is recognised at the fair value of consideration receivable for goods supplied during the year, net of discounts, returns, Value Added Tax, and other applicable sales taxes. The company operates the VAT Margin Scheme for eligible second-hand goods in accordance with HMRC Notice 718. Exceptional costs are recognised separately where the directors consider the nature or size of the item to require separate disclosure in order to present a true and fair view of the company’s trading performance.

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

2. Employees

2025 2024
Average number of employees during the period 40 35

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

3. Tangible Assets

Total
Cost £
At 01 January 2025 3,861
Additions 411,830
At 31 December 2025 415,691
Depreciation
At 01 January 2025 0
Charge for year 37,437
At 31 December 2025 37,437
Net book value
At 31 December 2025 378,254
At 31 December 2024 3,861

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

4. Creditors: amounts falling due after more than one year note

Creditors falling due after more than one year consist primarily of director-related funding balances, company loans, and long-term operational liabilities supporting the company’s trading activities and inventory operations.

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

5. Financial commitments

The company occupies leased warehouse and operational premises under operating lease arrangements entered into in the normal course of business.

PREUSED LTD

Notes to the Financial Statements

for the Period Ended 31 December 2025

6. Related party transactions

Name of the related party: John Crayford
Relationship:
Director
Description of the Transaction: During the year the company received director-related financial support and capital contributions in the ordinary course of supporting the company’s trading activities and operational restructuring.
£
Balance at 01 January 2025 14,000
Balance at 31 December 2025 5,759