Tailormade (Newhaven) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09050958 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2023

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

42,656

47,881

CURRENT ASSETS

Stocks

5

99,113

75,163

Debtors

6

123,351

112,770

Cash at bank and in hand

64,209

65,692

286,673

253,625

CREDITORS

Amounts falling due within one year

7

230,442

172,078

NET CURRENT ASSETS

56,231

81,547

TOTAL ASSETS LESS CURRENT LIABILITIES

98,887

129,428

CREDITORS

Amounts falling due after more than one year

8

(599

)

(12,000

)

PROVISIONS FOR LIABILITIES

9

(8,105

)

(9,097

)

NET ASSETS

90,183

108,331

CAPITAL AND RESERVES

Called up share capital

10

198

198

Retained earnings

11

89,985

108,133

SHAREHOLDERS' FUNDS

90,183

108,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 31 October 2023 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 9 (2022 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2022

35,244

22,194

62,023

852

120,313

Additions

8,995

-

-

-

8,995

At 31 January 2023

44,239

22,194

62,023

852

129,308

DEPRECIATION

At 1 February 2022

15,419

15,858

40,942

213

72,432

Charge for year

7,205

1,584

5,271

160

14,220

At 31 January 2023

22,624

17,442

46,213

373

86,652

NET BOOK VALUE

At 31 January 2023

21,615

4,752

15,810

479

42,656

At 31 January 2022

19,825

6,336

21,081

639

47,881

5.

STOCKS

31.1.23

31.1.22

£

£

Stocks

99,113

75,163

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

68,129

90,790

Other debtors

30,000

-

Pies Online Ltd

310

155

VAT

9,924

10,717

Prepayments and accrued income

14,988

11,108

123,351

112,770

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

33,333

43,333

Hire purchase contracts

11,401

11,447

Trade creditors

53,759

66,612

Taxation and social security

7,126

6,583

Other creditors

124,823

44,103

230,442

172,078

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Hire purchase contracts

599

12,000

9.	PROVISIONS FOR LIABILITIES

31.1.23

31.1.22

£

£

Deferred tax

8,105

9,097

Deferred

tax

£

Balance at 1 February 2022

9,097

Accelerated capital allowances

(992

)

Balance at 31 January 2023

8,105

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

198

Ordinary

£1

198

198

11.

RESERVES

Retained

earnings

£

At 1 February 2022

108,133

Deficit for the year

(16,634

)

Dividends

(1,514

)

At 31 January 2023

89,985

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:

31.01.23

31.01.22

£

£

Creditors: Amounts falling due within one year

88,445

7,800