IRIS Accounts Production v26.1.0.640 SC050138 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC050138 2023-12-31 SC050138 2024-12-31 SC050138 2024-01-01 2024-12-31 SC050138 2022-12-31 SC050138 2023-01-01 2023-12-31 SC050138 2023-12-31 SC050138 ns15:Scotland 2024-01-01 2024-12-31 SC050138 ns14:PoundSterling 2024-01-01 2024-12-31 SC050138 ns10:Director1 2024-01-01 2024-12-31 SC050138 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC050138 ns10:SmallEntities 2024-01-01 2024-12-31 SC050138 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC050138 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 SC050138 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC050138 ns10:FullAccounts 2024-01-01 2024-12-31 SC050138 1 2024-01-01 2024-12-31 SC050138 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 SC050138 ns10:Director2 2024-01-01 2024-12-31 SC050138 ns10:RegisteredOffice 2024-01-01 2024-12-31 SC050138 ns5:CurrentFinancialInstruments 2024-12-31 SC050138 ns5:CurrentFinancialInstruments 2023-12-31 SC050138 ns5:Non-currentFinancialInstruments 2024-12-31 SC050138 ns5:Non-currentFinancialInstruments 2023-12-31 SC050138 ns5:ShareCapital 2024-12-31 SC050138 ns5:ShareCapital 2023-12-31 SC050138 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 SC050138 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 SC050138 ns5:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 SC050138 ns5:ComputerSoftware 2024-01-01 2024-12-31 SC050138 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-01-01 2024-12-31 SC050138 ns5:LeaseholdImprovements 2024-01-01 2024-12-31 SC050138 ns5:PlantMachinery 2024-01-01 2024-12-31 SC050138 ns5:FurnitureFittings 2024-01-01 2024-12-31 SC050138 ns5:ComputerSoftware 2023-12-31 SC050138 ns5:ComputerSoftware 2024-12-31 SC050138 ns5:ComputerSoftware 2023-12-31 SC050138 ns5:ShortLeaseholdAssets ns5:LandBuildings 2023-12-31 SC050138 ns5:LeaseholdImprovements 2023-12-31 SC050138 ns5:PlantMachinery 2023-12-31 SC050138 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-12-31 SC050138 ns5:LeaseholdImprovements 2024-12-31 SC050138 ns5:PlantMachinery 2024-12-31 SC050138 ns5:ShortLeaseholdAssets ns5:LandBuildings 2023-12-31 SC050138 ns5:LeaseholdImprovements 2023-12-31 SC050138 ns5:PlantMachinery 2023-12-31 SC050138 ns5:FurnitureFittings 2023-12-31 SC050138 ns5:ComputerEquipment 2023-12-31 SC050138 ns5:ComputerEquipment 2024-01-01 2024-12-31 SC050138 ns5:FurnitureFittings 2024-12-31 SC050138 ns5:ComputerEquipment 2024-12-31 SC050138 ns5:FurnitureFittings 2023-12-31 SC050138 ns5:ComputerEquipment 2023-12-31 SC050138 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 SC050138 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 SC050138 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-12-31 SC050138 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2023-12-31 SC050138 ns10:OrdinaryShareClass1 2024-12-31 SC050138 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 SC050138 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31

REGISTERED NUMBER: SC050138 (Scotland)

Financial Statements

for the Year Ended 31 December 2024

for

Clyde Knitwear Limited

Clyde Knitwear Limited (Registered number: SC050138)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Clyde Knitwear Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | T S Kainth

| B Rakhra

| REGISTERED OFFICE: | 98 Commerce Street

| Glasgow

| G5 8DW

| REGISTERED NUMBER: | SC050138 (Scotland)

| ACCOUNTANTS: | KPP Glasgow South Ltd

| Chartered Certified Accountants

| Unit 3 , 37 Rosyth Road

| Morris Park

| Glasgow

| G5 0YE

Clyde Knitwear Limited (Registered number: SC050138)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 34,959 |  | 38,843 |  |

Tangible assets | 5 | 155,472 |  | 172,748 |  |

190,431 |  | 211,591 |  |

CURRENT ASSETS

Stocks | 6 | 542,822 |  | 597,883 |  |

Debtors | 7 | 765,325 |  | 588,507 |  |

Cash at bank and in hand | 162,603 |  | - |  |

1,470,750 |  | 1,186,390 |  |

CREDITORS

Amounts falling due within one year | 8 | 509,597 |  | 399,777 |  |

NET CURRENT ASSETS | 961,153 |  | 786,613 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,151,584 |  | 998,204 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 11,767 |  | 35,964 |  |

NET ASSETS | 1,139,817 |  | 962,240 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 1,000 |  | 1,000 |  |

Retained earnings | 11 | 1,138,817 |  | 961,240 |  |

SHAREHOLDERS' FUNDS | 1,139,817 |  | 962,240 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

Clyde Knitwear Limited (Registered number: SC050138)

Balance Sheet - continued

31 December 2024

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2026 and were signed on its behalf by:

B Rakhra - Director

Clyde Knitwear Limited (Registered number: SC050138)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Clyde Knitwear Limited is a private company, limited by shares , registered in Scotland. 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

| 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.

| CKL Website is being amortised evenly over its estimated useful life of nil years.

| Ckl website

| Depreciation charge - 20 % reducing balance

| Tangible fixed assets

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

| Leasehold Improvements | - | At variable rates

| Website development | - | At variable rates

| Plant and machinery | - | At variable rates

| Fixtures and fittings | - | At variable rates

| Stocks

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

| 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.

Clyde Knitwear Limited (Registered number: SC050138)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2023 - 9 ) .

4. | INTANGIBLE FIXED ASSETS

| CKL

| Website

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 117,301 |  |

| AMORTISATION

| At 1 January 2024 | 78,458 |  |

| Amortisation for year | 3,884 |  |

| At 31 December 2024 | 82,342 |  |

| NET BOOK VALUE

| At 31 December 2024 | 34,959 |  |

| At 31 December 2023 | 38,843 |  |

Clyde Knitwear Limited (Registered number: SC050138)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | TANGIBLE FIXED ASSETS

| Leasehold |  | Website |  | Plant and

| Improvements |  | development |  | machinery

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 204,431 |  | 61,383 |  | 179,189 |  |

| DEPRECIATION

| At 1 January 2024 | 179,492 |  | 50,133 |  | 56,967 |  |

| Charge for year | 2,494 |  | 1,125 |  | 12,222 |  |

| At 31 December 2024 | 181,986 |  | 51,258 |  | 69,189 |  |

| NET BOOK VALUE

| At 31 December 2024 | 22,445 |  | 10,125 |  | 110,000 |  |

| At 31 December 2023 | 24,939 |  | 11,250 |  | 122,222 |  |

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 87,141 |  | 41,028 |  | 573,172 |  |

| DEPRECIATION

| At 1 January 2024 | 79,368 |  | 34,464 |  | 400,424 |  |

| Charge for year | 778 |  | 657 |  | 17,276 |  |

| At 31 December 2024 | 80,146 |  | 35,121 |  | 417,700 |  |

| NET BOOK VALUE

| At 31 December 2024 | 6,995 |  | 5,907 |  | 155,472 |  |

| At 31 December 2023 | 7,773 |  | 6,564 |  | 172,748 |  |

6. | STOCKS

| 31.12.24 |  | 31.12.23

£ | £ |

| Stocks | 542,822 |  | 597,883 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 275,659 |  | 98,841 |  |

| Other debtors | 423,666 |  | 423,666 |  |

| Prepayments | 66,000 |  | 66,000 |  |

765,325 |  | 588,507 |  |

Clyde Knitwear Limited (Registered number: SC050138)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | - |  | 5,663 |  |

| Trade creditors | 325,550 |  | 294,919 |  |

| Gallowgate Market Ltd | 43,450 |  | 43,450 |  |

| Social security and other taxes | 2,673 |  | 2,673 |  |

| VAT | 134,634 |  | 53,072 |  |

| Accrued expenses | 3,290 |  | - |  |

509,597 |  | 399,777 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans - 1-2 years | 11,767 |  | 35,964 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

11. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 961,240 |  |

| Profit for the year | 177,577 |  |

| At 31 December 2024 | 1,138,817 |  |