Room 17 Menswear Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14313712 (England and Wales)

Unaudited Financial Statements

for the Period 23 August 2022 to 31 August 2023

for

ROOM 17 MENSWEAR LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

G Mitchell

REGISTERED OFFICE:

23 Adam and Eve Street

Market Harborough

Leicestershire

LE16 7LT

REGISTERED NUMBER:

14313712 (England and Wales)

ACCOUNTANTS:

Elsby & Co

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

FIXED ASSETS

Tangible assets

4

845

CURRENT ASSETS

Stocks

21,773

Debtors

5

5,420

Cash at bank

7,733

34,926

CREDITORS

Amounts falling due within one year

6

35,213

NET CURRENT LIABILITIES

(287

)

TOTAL ASSETS LESS CURRENT LIABILITIES

558

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

557

SHAREHOLDERS' FUNDS

558

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2024 and were signed by:

G Mitchell - Director

1.	STATUTORY INFORMATION

Room 17 Menswear 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.

The reporting period 23rd August 2022 to 31st August 2023 is the first period for which financial statements have been prepared from 23rd August 2022. Therefore, there is no comparative period.

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 cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing

stock to its present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Grant income

During the period the company received £823 from a local council as a grant to assist with setting up the shop.

Going concern

The company has made a loss in its first trading period, due to a lot of larger set up costs. The director is confident that the company has sufficient reserves in place to continue to trading for the next 12 months and intends to continue to support the business for the foreseeable future. The accounts have therefore been prepared under a Going Concern basis.

3.

EMPLOYEES

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

1,126

At 31 August 2023

1,126

DEPRECIATION

Charge for period

281

At 31 August 2023

281

NET BOOK VALUE

At 31 August 2023

845

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

5,420

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

9,092

Taxation and social security

4,865

Other creditors

21,256

35,213

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Room 17 Menswear Ltd for the period ended 31 August 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Room 17 Menswear Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Room 17 Menswear Ltd and state those matters that we have agreed to state to the director of Room 17 Menswear Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Room 17 Menswear Ltd and its director for our work or for this report.

It is your duty to ensure that Room 17 Menswear Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Room 17 Menswear Ltd. You consider that Room 17 Menswear Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Room 17 Menswear Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Elsby & Co

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

19 February 2024