Tailormade (Newhaven) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09050958 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2021

for

Tailormade (Newhaven) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Bell

A Bull

G Bell

REGISTERED OFFICE:

12a Marlborough Palce

Brighton

East Sussex

BN1 1WN

REGISTERED NUMBER:

09050958 (England and Wales)

ACCOUNTANTS:

Clarke Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Tangible assets

4

62,988

38,741

CURRENT ASSETS

Stocks

5

51,340

-

Debtors

6

177,311

154,913

Cash at bank and in hand

21,609

115,533

250,260

270,446

CREDITORS

Amounts falling due within one year

7

169,621

107,139

NET CURRENT ASSETS

80,639

163,307

TOTAL ASSETS LESS CURRENT LIABILITIES

143,627

202,048

CREDITORS

Amounts falling due after more than one year

8

(23,447

)

(23,764

)

PROVISIONS FOR LIABILITIES

9

(11,968

)

(7,361

)

NET ASSETS

108,212

170,923

CAPITAL AND RESERVES

Called up share capital

10

213

213

Retained earnings

11

107,999

170,710

SHAREHOLDERS' FUNDS

108,212

170,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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.

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 6 May 2021 and were signed on its behalf by:

G Bell - Director

1.	STATUTORY INFORMATION

Tailormade (Newhaven) Ltd is a private company, limited by shares , registered in England and Wales. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on 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.

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.

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 10 (2020 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2020

-

22,194

52,023

74,217

Additions

35,244

-

10,000

45,244

At 31 January 2021

35,244

22,194

62,023

119,461

DEPRECIATION

At 1 February 2020

-

10,930

24,546

35,476

Charge for year

8,811

2,816

9,370

20,997

At 31 January 2021

8,811

13,746

33,916

56,473

NET BOOK VALUE

At 31 January 2021

26,433

8,448

28,107

62,988

At 31 January 2020

-

11,264

27,477

38,741

5.

STOCKS

31.1.21

31.1.20

£

£

Stocks

51,340

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

114,250

125,110

Tax

8,033

-

VAT

43,167

22,696

Prepayments and accrued income

11,861

7,107

177,311

154,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts

50,000

-

Hire purchase contracts

11,493

7,178

Trade creditors

40,770

31,889

Tax

-

6,020

Social security and other taxes

6,025

5,419

Other creditors

15,601

15,601

Staff loan

2

2

Beven Property Management Ltd

25,000

-

Directors' loan accounts

18,500

40,000

Accrued expenses

2,230

1,030

169,621

107,139

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Hire purchase contracts

23,447

23,764

9.	PROVISIONS FOR LIABILITIES

31.1.21

31.1.20

£

£

Deferred tax

11,968

7,361

Deferred

tax

£

Balance at 1 February 2020

7,361

Accelerated capital allowances

4,607

Balance at 31 January 2021

11,968

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.21

31.1.20

value:

£

£

213

Ordinary

£1

213

213

11.

RESERVES

Retained

earnings

£

At 1 February 2020

170,710

Deficit for the year

(62,711

)

At 31 January 2021

107,999

12.	RELATED PARTY DISCLOSURES

Included in the financial statements are the following significant transactions and balances with related parties:

Beven Property Management Ltd, a company wholly-owned by the director, Mr G Bell:

31.01.21

31.01.20

£

£

Creditors: Amounts falling due within one year

25,000

-