Novello Fashions (Preston) Ltd

Registered number

00613122

Filleted Accounts

31 January 2026

Novello Fashions (Preston) Ltd
Registered number:		00613122
Balance Sheet
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		33,120			33,618

Current assets
Stocks		71,397			91,229
Debtors	5	911			473
Cash at bank and in hand		189,468			203,054
		261,776			294,756

Creditors: amounts falling due within one year	6	(34,889)			(28,440)

Net current assets			226,887			266,316

Net assets			260,007			299,934

Capital and reserves
Called up share capital			1,200			1,200
Share premium			199,800			199,800
Profit and loss account			59,007			98,934

Shareholders' funds			260,007			299,934

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Hannah Deuchars
Director
Approved by the board on 21 October 2026

Novello Fashions (Preston) Ltd
Notes to the Accounts
for the year ended 31 January 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	No depreciation
	Leasehold land and buildings	over the lease term
	Plant and machinery	15% of Net Book Value
	Fixtures, fittings, tools and equipment	15% of Net Book Value

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			11		11


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 February 2025					50,000
	At 31 January 2026					50,000

	Amortisation
	At 1 February 2025					50,000
	At 31 January 2026					50,000

	Net book value
	At 31 January 2026					-




4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 February 2025	30,345		105,083		135,428
	At 31 January 2026	30,345		105,083		135,428

	Depreciation
	At 1 February 2025	45		101,765		101,810
	Charge for the year	-		498		498
	At 31 January 2026	45		102,263		102,308

	Net book value
	At 31 January 2026	30,300		2,820		33,120
	At 31 January 2025	30,300		3,318		33,618


5	Debtors			2026		2025
£					£

	Trade debtors			911		473


6	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			21,712		9,730
	Taxation and social security costs			11,608		17,407
	Other creditors			1,569		1,303
				34,889		28,440


7	Other information

	Novello Fashions (Preston) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 10
	80 Lytham Road
	Preston
	PR2 3AQ