RC Clothing Ltd

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

1. General Information

RC Clothing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12190009 . The registered office is 28a High Street, Ewell, Epsom, KT17 1RW.

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.

2.2. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however in their view the going concern basis remains appropriate. The director Mr D Weller has confirmed that he will not seek repayment of the balances owed to him, in whole or in part, for at least 12 months from the date of approval of these financial statements, other than repayments made when the company has sufficient resources. Since the year end, Mr D Weller has received some repayments of his loan. These were made only when the company had sufficient funds, and any further repayments will be made only where they do not affect the company’s ability to meet its other liabilities as they fall due.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. 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:

Fixtures & Fittings

20% on reducing balance

2.5. Stocks and Work in Progress

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

2.6. 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.

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.

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RC Clothing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

3. Average Number of Employees

Average number of employees during the year was as follows: NIL (2024: NIL)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 November 2024	108

As at 31 October 2025	108

Depreciation
As at 1 November 2024	74
Provided during the period	7

As at 31 October 2025	81

Net Book Value
As at 31 October 2025	27

As at 1 November 2024	34

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	475	11,239
Other debtors	13,811	13,738

	14,286	24,977

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	7,658	10,386
Bank loans and overdrafts	2,591	3,359
Other loans	4,447	4,757
Other creditors	102,202	62,032
Taxation and social security	19,460	15,292

	136,358	95,826

Other creditors include: directors' loans of £69,108 (2024: £53,955) (note 10); a loan of £5,569 (2024: £5,569) from Lillian Kelly Ltd, a company in which Mr D Weller has a controlling interest (note 10); £15,000 (2024: £nil) received from S Allan in December 2024 as an advance subscription for shares. This is to be satisfied by an issue of shares, which had not been made at the date of approval of these financial statements (note 9); a loan of £10,000 (2024: £nil) received from S Allan on 31 August 2025. The loan is unsecured, interest free and has no fixed date for repayment; and accruals of £2,515 (2024: £2,420).

Bank loans comprise a Bounce Back Loan guaranteed by the UK Government under the Bounce Back Loan Scheme. Other loans are Shopify Capital advances repaid from future sales.

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RC Clothing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	2,371

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	110	110

9. Post Balance Sheet Events

On 29 September 2026 the members passed written resolutions to subdivide each of the 110 issued shares of £1 each into 100 shares of 1p each, giving 10,000 Ordinary shares and 1,000 Ordinary B shares of 1p each.

On 2 October 2026 the company received £50,000 from Paul Currie as an advance subscription for shares. The £15,000 advance subscription received from S Allan in December 2024 (note 6) is also to be satisfied by an issue of shares. At the date of approval of these financial statements no shares had been issued in respect of either subscription.

The £10,000 loan from S Allan (note 6) is not part of the subscription and remains repayable in cash.

These are non-adjusting events.

10. Related Party Transactions

Included within other creditors is a loan from Lillian Kelly Ltd amounting to £5,569 (2024: £5,569). This loan is unsecured, interest free and has no fixed date for repayment.

The director Mr D Weller has a controlling interest in Lillian Kelly Ltd.

The directors have lent money to the company. The loans are unsecured, interest free and have no fixed date for repayment. Movements during the year were:

Mr D T Weller

Director

b/f £29,355, lent £36,700, repaid £21,546

Mr R J Cheall

Director

b/f £14,100, lent £0, repaid £0

Mr A P Blissett

Director

b/f £10,500, lent £0, repaid £0

11. Ultimate Controlling Party

The company is not controlled by any one party. Mr D T Weller holds 50% and Mr R J Cheall 30% of the Ordinary shares.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		27		34

			27		34
CURRENT ASSETS
Stocks		27,273		22,068
Debtors	5	14,286		24,977
Cash at bank and in hand		4,120		6,030

		45,679		53,075
Creditors: Amounts Falling Due Within One Year	6	(136,358 )		(95,826 )

NET CURRENT ASSETS (LIABILITIES)			(90,679 )		(42,751 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(90,652 )		(42,717 )

Creditors: Amounts Falling Due After More Than One Year	7		-		(2,371 )

NET LIABILITIES			(90,652 )		(45,088 )

CAPITAL AND RESERVES
Called up share capital	8		110		110
Share premium account			24,990		24,990
Profit and Loss Account			(115,752 )		(70,188 )

SHAREHOLDERS' FUNDS			(90,652)		(45,088)