Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
|||||||
Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
||||
Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
||||
Provisions for liabilities | ( |
( |
|||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
M B Aziz | |||||||
Director | |||||||
Approved by the board on |
|||||||
Notes to the Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Freehold buildings | 21/2% straight line | |||||||
Motor vehicles | 25% reducing balance | |||||||
Plant and machinery | 15% reducing balance | |||||||
Stocks | ||||||||
Debtors and creditors receivable/payable within one year | ||||||||
Taxation | ||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference,Current and deferred tax assets and liabilities are not discounted. |
||||||||
Provisions | ||||||||
Foreign currency translation | ||||||||
Pensions | ||||||||
2 | Going Concern | |||||||
The Directors have considered the company's business activities, together with the factors likely to affect its future development,performance and position that are effected is explained in the note 8 of the accounrs | ||||||||
3 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 January 2022 | ||||||||
Additions | - | - | ||||||
Disposals | - | - | ( |
( |
||||
At 31 December 2022 | - | |||||||
Depreciation | ||||||||
At 1 January 2022 | ||||||||
Charge for the year | - | |||||||
On disposals | - | - | ( |
( |
||||
At 31 December 2022 | - | |||||||
Net book value | ||||||||
At 31 December 2022 | - | |||||||
At 31 December 2021 | ||||||||
5 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by associated company | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Corporation tax | ( |
( |
||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2022 | 2021 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Coronavirus Business Interuption Loan is partially guranteed by the Secretary of Sate. | ||||||||
8 | Going Concern | |||||||
The company meets its day to day working capital requirements through an overdraft and bank loan facility which is due for renewal on 5 December 2023 .The current economic conditions create uncertainty particularly over the level of demand for the company products and the availability of bank finance in the foreseeable future. The company's cash flow projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facility. The company has held discussion with its bankers about its future borrowing needs and bank has given informal indication that the facility will be renewed and no matters have been drawn to its attention to suggest that renewal may not be forthcoming on acceptable terms The directors consider that preparing the financial statements on the going' concern basis is appropriate based on their enquiries. Having taken account of the ongoing funding requirements of the business and the facilities available to the company, the directors consider that the company has the ability to fulfil its commitments for at least 12 months from the date the financial statements are signed. Therefore the directors consider that the company has reasonable expectation that it can meet all of its liabilities as they fall due for the foreseeable future from the date of approval of the financial statements. |
||||||||
9 | Controlling party | |||||||
10 | Other information | |||||||
S&B Clothing Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
S&B House | ||||||||
92-94 Gipsy Lane | ||||||||
Leicester | ||||||||
Leicestershire | ||||||||
LE4 6RE |