REFORM CLOTHING LIMITED

REFORM CLOTHING LIMITED - Company Information

2021-12-012022-11-302022-11-30falseNI674281REFORM CLOTHING LIMITED2023-07-28iso4217:GBPxbrli:pureNI6742812021-12-01NI6742812022-11-30NI6742812021-12-012022-11-30NI6742812020-11-16NI6742812021-11-30NI6742812020-11-162021-11-30NI674281bus:SmallEntities2021-12-012022-11-30NI674281bus:AuditExempt-NoAccountantsReport2021-12-012022-11-30NI674281bus:FullAccounts2021-12-012022-11-30NI674281bus:PrivateLimitedCompanyLtd2021-12-012022-11-30NI674281core:WithinOneYear2022-11-30NI674281core:AfterOneYear2022-11-30NI674281core:WithinOneYear2021-11-30NI674281core:AfterOneYear2021-11-30NI674281core:ShareCapital2022-11-30NI674281core:SharePremium2022-11-30NI674281core:RevaluationReserve2022-11-30NI674281core:OtherReservesSubtotal2022-11-30NI674281core:RetainedEarningsAccumulatedLosses2022-11-30NI674281core:ShareCapital2021-11-30NI674281core:SharePremium2021-11-30NI674281core:RevaluationReserve2021-11-30NI674281core:OtherReservesSubtotal2021-11-30NI674281core:RetainedEarningsAccumulatedLosses2021-11-30NI674281core:LandBuildings2022-11-30NI674281core:PlantMachinery2022-11-30NI674281core:Vehicles2022-11-30NI674281core:FurnitureFittings2022-11-30NI674281core:OfficeEquipment2022-11-30NI674281core:NetGoodwill2022-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2022-11-30NI674281core:ListedExchangeTraded2022-11-30NI674281core:UnlistedNon-exchangeTraded2022-11-30NI674281core:LandBuildings2021-11-30NI674281core:PlantMachinery2021-11-30NI674281core:Vehicles2021-11-30NI674281core:FurnitureFittings2021-11-30NI674281core:OfficeEquipment2021-11-30NI674281core:NetGoodwill2021-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2021-11-30NI674281core:ListedExchangeTraded2021-11-30NI674281core:UnlistedNon-exchangeTraded2021-11-30NI674281core:LandBuildings2021-12-012022-11-30NI674281core:PlantMachinery2021-12-012022-11-30NI674281core:Vehicles2021-12-012022-11-30NI674281core:FurnitureFittings2021-12-012022-11-30NI674281core:OfficeEquipment2021-12-012022-11-30NI674281core:NetGoodwill2021-12-012022-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-30NI674281core:ListedExchangeTraded2021-12-012022-11-30NI674281core:UnlistedNon-exchangeTraded2021-12-012022-11-30NI674281core:MoreThanFiveYears2021-12-012022-11-30NI674281core:Non-currentFinancialInstruments2022-11-30NI674281core:Non-currentFinancialInstruments2021-11-30NI674281dpl:CostSales2021-12-012022-11-30NI674281dpl:DistributionCosts2021-12-012022-11-30NI674281dpl:AdministrativeExpenses2021-12-012022-11-30NI674281core:LandBuildings2021-12-012022-11-30NI674281core:PlantMachinery2021-12-012022-11-30NI674281core:Vehicles2021-12-012022-11-30NI674281core:FurnitureFittings2021-12-012022-11-30NI674281core:OfficeEquipment2021-12-012022-11-30NI674281core:NetGoodwill2021-12-012022-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-30NI674281dpl:GroupUndertakings2021-12-012022-11-30NI674281dpl:ParticipatingInterests2021-12-012022-11-30NI674281dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-30NI674281core:ListedExchangeTraded2021-12-012022-11-30NI674281dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-30NI674281core:UnlistedNon-exchangeTraded2021-12-012022-11-30NI674281dpl:CostSales2020-11-162021-11-30NI674281dpl:DistributionCosts2020-11-162021-11-30NI674281dpl:AdministrativeExpenses2020-11-162021-11-30NI674281core:LandBuildings2020-11-162021-11-30NI674281core:PlantMachinery2020-11-162021-11-30NI674281core:Vehicles2020-11-162021-11-30NI674281core:FurnitureFittings2020-11-162021-11-30NI674281core:OfficeEquipment2020-11-162021-11-30NI674281core:NetGoodwill2020-11-162021-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2020-11-162021-11-30NI674281dpl:GroupUndertakings2020-11-162021-11-30NI674281dpl:ParticipatingInterests2020-11-162021-11-30NI674281dpl:GroupUndertakingscore:ListedExchangeTraded2020-11-162021-11-30NI674281core:ListedExchangeTraded2020-11-162021-11-30NI674281dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-11-162021-11-30NI674281core:UnlistedNon-exchangeTraded2020-11-162021-11-30NI674281core:NetGoodwill2022-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2022-11-30NI674281core:LandBuildings2022-11-30NI674281core:PlantMachinery2022-11-30NI674281core:Vehicles2022-11-30NI674281core:FurnitureFittings2022-11-30NI674281core:OfficeEquipment2022-11-30NI674281core:AfterOneYear2022-11-30NI674281core:WithinOneYear2022-11-30NI674281core:ListedExchangeTraded2022-11-30NI674281core:UnlistedNon-exchangeTraded2022-11-30NI674281core:ShareCapital2022-11-30NI674281core:SharePremium2022-11-30NI674281core:RevaluationReserve2022-11-30NI674281core:OtherReservesSubtotal2022-11-30NI674281core:RetainedEarningsAccumulatedLosses2022-11-30NI674281core:NetGoodwill2021-11-30NI674281core:IntangibleAssetsOtherThanGoodwill2021-11-30NI674281core:LandBuildings2021-11-30NI674281core:PlantMachinery2021-11-30NI674281core:Vehicles2021-11-30NI674281core:FurnitureFittings2021-11-30NI674281core:OfficeEquipment2021-11-30NI674281core:AfterOneYear2021-11-30NI674281core:WithinOneYear2021-11-30NI674281core:ListedExch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Registered Number
NI674281
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 November 2022

REFORM CLOTHING LIMITED

Company Information
for the year from 1 December 2021 to 30 November 2022


Directors	CHALLIS, Andrew David
	DOUST, Mitchell Felix
	DOWDS, Mark James
	DUCKER, Andrew James
	DUNLOP, Kirsten Clare, Dr


Registered Address	C/O A&L Goodbody
	42-46 Fountain Street
	Belfast
	BT1 5EF


Registered Number	NI674281 (Northern Ireland)

REFORM CLOTHING LIMITED

Balance Sheet as at
30 November 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Intangible assets	7		2,679		2,997
Tangible assets	8		48,643		66,853
			51,322		69,850
Current assets
Stocks	9	326,181		224,912
Debtors	10	95,655		31,805
Cash at bank and on hand		1,034,956		347,370
		1,456,792		604,087
Creditors amounts falling due within one year	11	(111,620)		(260,979)
Net current assets (liabilities)			1,345,172		343,108
Total assets less current liabilities			1,396,494		412,958
Net assets			1,396,494		412,958
Capital and reserves
Called up share capital			3,165,568		127
Share premium			999,830		999,830
Profit and loss account			(2,768,904)		(586,999)
Shareholders' funds			1,396,494		412,958

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 28 July 2023, and are signed on its behalf by:

DOUST, Mitchell Felix
Director
Registered Company No. NI674281

REFORM CLOTHING LIMITED

Notes to the Financial Statements
for the year ended 30 November 2022

1.	Statutory information
	The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company during the period under review was that of online retail.

4.	Basis of measurement used in financial statements
	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).

5.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	1
	Office Equipment	3

	Intangible assets policy
	Intangible assets are amortised over their expected useful economic lives in a manner consistent with the consumption of economic benefits

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	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.

Foreign currency translation and operations policy

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.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

6.	Employee information


		2022		2021
	Average number of employees during the year	22		9

7.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 December 21	3,182	3,182
At 30 November 22	3,182	3,182
Amortisation and impairment
At 01 December 21	185	185
Charge for year	318	318
At 30 November 22	503	503
Net book value
At 30 November 22	2,679	2,679
At 30 November 21	2,997	2,997

8.	Property, plant and equipment

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 December 21	6,883	73,236	80,119
Additions	385	7,888	8,273
At 30 November 22	7,268	81,124	88,392
Depreciation and impairment
At 01 December 21	5,162	8,104	13,266
Charge for year	1,721	24,762	26,483
At 30 November 22	6,883	32,866	39,749
Net book value
At 30 November 22	385	48,258	48,643
At 30 November 21	1,721	65,132	66,853

9.	Stocks

	2022	2021
	£	£
Finished goods	326,181	224,912
Total	326,181	224,912

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	33,598	-
Other debtors	56,460	28,482
Prepayments and accrued income	5,597	3,323
Total	95,655	31,805


	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.

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.

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	58,787	225,451
Taxation and social security	52,643	32,336
Other creditors	190	3,192
Total	111,620	260,979


	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.