Stitches Tailoring Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Stitches Tailoring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07086714 . The registered office and principal place of business is 14 St. Marys Street, Manchester, M3 2LB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided, net of value added tax and any trade discounts.

Rendering of services

Turnover represents the amounts receivable for the provision of tailoring, alteration and clothing repair services, where net takings are recognised as earned.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% on straight line
Plant & Machinery	25% on reducing balance
Fixtures & Fittings	25% on reducing balance
Computer Equipment	20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Stitches Tailoring Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

2.8. Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2.9. Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand. Bank borrowings are included in creditors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 28 (2025: 30)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	15,539	18,833	5,350	18,309	58,031
Disposals	-	(13,956 )	-	-	(13,956 )

As at 31 March 2026	15,539	4,877	5,350	18,309	44,075

Depreciation
As at 1 April 2025	870	9,872	2,341	6,719	19,802
Provided during the period	1,467	646	752	2,318	5,183
Disposals	-	(7,578 )	-	-	(7,578 )

As at 31 March 2026	2,337	2,940	3,093	9,037	17,407

Net Book Value
As at 31 March 2026	13,202	1,937	2,257	9,272	26,668

As at 1 April 2025	14,669	8,961	3,009	11,590	38,229

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Stitches Tailoring Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	35,000	24,906
Other debtors	49,382	89,606

	84,382	114,512

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Bank loans and overdrafts	-	5,803
Other creditors	5,227	12,113
Taxation and social security	56,550	62,096

	61,777	80,012

7. Secured Creditors

The Co-operative Bank PLC hold a fixed and floating charge dated 8th March 2021 over the assets and liabilities of the company.

8. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
4 Ordinary Shares of £ 1.00 each	4	4

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	22,000	22,000
Later than one year and not later than five years	84,333	88,000
Later than five years	-	18,333

	106,333	128,333

10. Related Party Transactions

At the reporting date, the company is owed £44,299 (2025: £74,299) by companies under common control. This amount has been included within other creditors. During the year £30,000 of the brought forward balance was forgiven and not required to be repaid; as such, this has been released as a expense to the profit and loss account.

Included in other debtors is a loan owing from the Directors of £1,990 (2025: £3,739); this loan is interest free and repayable on demand.

11. Ultimate Controlling Party

The company's ultimate controlling party is Mrs S Kaya Meric by virtue of her ownership of 100% of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		26,668		38,229

			26,668		38,229
CURRENT ASSETS
Debtors	5	84,382		114,512
Cash at bank and in hand		26,625		40,978

		111,007		155,490
Creditors: Amounts Falling Due Within One Year	6	(61,777 )		(80,012 )

NET CURRENT ASSETS (LIABILITIES)			49,230		75,478

TOTAL ASSETS LESS CURRENT LIABILITIES			75,898		113,707

PROVISIONS FOR LIABILITIES
Deferred Taxation			(6,667 )		(9,792 )

NET ASSETS			69,231		103,915

CAPITAL AND RESERVES
Called up share capital	8		4		4
Profit and Loss Account			69,227		103,911

SHAREHOLDERS' FUNDS			69,231		103,915