General Information
NJ Garments Ltd is a private company, limited by shares, registered in England and Wales, registration number 12274341, registration address C/O Burton Varley Ltd , Suite 3, 2nd Floor, Didsbury House, 748-754 Wilmslow Road, Manchester, M20 2DW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
20% Straight Line
|
| Fixtures and Fittings |
15% Straight Line
|
| Computer Equipment |
33% Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company operates an invoice discounting facility on a recourse basis. Accordingly, trade receivables subject to the arrangement are not derecognised. Amounts advanced are recognised as borrowings within creditors and are secured against trade receivables.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 11 (2024 : 6).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 November 2024 |
7,000 |
|
1,865 |
|
18,282 |
|
27,147 |
| Additions |
390 |
|
- |
|
7,661 |
|
8,051 |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 October 2025 |
7,390 |
|
1,865 |
|
25,943 |
|
35,198 |
| Depreciation |
| At 01 November 2024 |
2,712 |
|
800 |
|
6,402 |
|
9,914 |
| Charge for year |
1,414 |
|
280 |
|
6,969 |
|
8,663 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 October 2025 |
4,126 |
|
1,080 |
|
13,371 |
|
18,577 |
| Net book values |
| Closing balance as at 31 October 2025 |
3,264 |
|
785 |
|
12,572 |
|
16,621 |
| Opening balance as at 01 November 2024 |
4,288 |
|
1,065 |
|
11,880 |
|
17,233 |
|
| 4. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Class A shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
2
|