| |
|
2020 |
|
2019 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
24,114 |
|
|
16,455 |
| Current assets |
|
192,530 |
|
|
100,262 |
|
| Prepayments and accrued income |
|
2,975 |
|
|
0 |
|
| Creditors: amount falling due within one year |
|
(66,851) |
|
|
(38,139) |
|
|
Net current assets
|
|
|
128,654
|
|
|
62,123
|
|
Total assets less current liabilities
|
|
|
152,768 |
|
|
78,578 |
| Creditors: amount falling due after more than one year |
|
|
(136,282) |
|
|
(53,735) |
| Provisions for liabilities |
|
|
(159) |
|
|
(159) |
|
Net assets
|
|
|
16,327 |
|
|
24,684 |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
16,327 |
|
|
24,684 |
| |
NOTES TO THE ACCOUNTS
General Information
Simply Uniform Limited is a private company, limited by shares , registered in England and Wales , registration number 09876847 , registration address Unit 4 Peter Baines Industrial Park, Woods Lane, Derby, DE22 3UD.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – 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 on the going concern basis and 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.
Coronavirus and Going concern
At the time of signing these accounts the directors have considered the effect of the corona-virus on the going concern
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 |
25% Reducing Balance
|
| Motor Vehicles |
33% Straight Line
|
| Fixtures and Fittings |
25% Reducing Balance
|
| Computer Equipment |
25% Reducing Balance
|
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 includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2019 |
20,310 |
|
7,927 |
|
9,898 |
|
6,981 |
|
45,116 |
| Additions |
1,618 |
|
10,375 |
|
- |
|
1,656 |
|
13,649 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2020 |
21,928 |
|
18,302 |
|
9,898 |
|
8,637 |
|
58,765 |
| Depreciation |
| At 01 April 2019 |
11,697 |
|
7,848 |
|
5,518 |
|
3,598 |
|
28,661 |
| Charge for year |
2,558 |
|
1,220 |
|
1,095 |
|
1,117 |
|
5,990 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2020 |
14,255 |
|
9,068 |
|
6,613 |
|
4,715 |
|
34,651 |
| Net book values |
| Closing balance as at 31 March 2020 |
7,673 |
|
9,234 |
|
3,285 |
|
3,922 |
|
24,114 |
| Opening balance as at 01 April 2019 |
8,613 |
|
79 |
|
4,380 |
|
3,383 |
|
16,455 |
|
| 3. |
Average number of employees
The average monthly number of employees, including directors, during the year was 5 (2019 : 7)
|
| 4. |
Transactions with directors
As of 31st March 2020 other creditors included £11907.95 (2019 £7105.88) owed to the directors
The loan is interest free and repayable on demand
|
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
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
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the financial reporting standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 06 November 2020 and were signed by: --------------------------------
Matthew Harrison
Director |
1
|
