Unique Apparel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01569064 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2019

FOR

UNIQUE APPAREL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Small

J Johnston

SECRETARY:

P Small

REGISTERED OFFICE:

Block A Ground Floor East

Industrial House

Conway Street

Hove

East Sussex

BN3 3LW

REGISTERED NUMBER:

01569064 (England and Wales)

ACCOUNTANTS:

Cardens Accountants LLP

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

CURRENT ASSETS

Debtors

4

157,646

23,837

Cash at bank and in hand

-

203,309

157,646

227,146

CREDITORS

Amounts falling due within one year

5

32,473

96,143

NET CURRENT ASSETS

125,173

131,003

TOTAL ASSETS LESS CURRENT LIABILITIES

125,173

131,003

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

49,900

49,900

Retained earnings

75,073

80,903

SHAREHOLDERS' FUNDS

125,173

131,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 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 on 20 February 2020 and were signed on its behalf by:

P Small - Director

1.	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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Tangible fixed assets

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

Short leasehold

-

over term of lease

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2019 - 17 ).

3.	TANGIBLE FIXED ASSETS

Short

leasehold

£

COST

At 1 July 2019

10,000

Disposals

(10,000

)

At 31 December 2019

-

DEPRECIATION

At 1 July 2019

10,000

Eliminated on disposal

(10,000

)

At 31 December 2019

-

NET BOOK VALUE

At 31 December 2019

-

At 30 June 2019

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade debtors

7,500

20,662

Other debtors

1,217

3,175

Tax

1,270

-

Directors' loan accounts

147,416

-

VAT

243

-

157,646

23,837

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Bank loans and overdrafts

-

3,443

Trade creditors

-

5,341

Tax

7,683

34,320

VAT

-

2,796

Other creditors

-

5,000

Credit card

-

1,465

Directors' loan accounts

23,090

42,278

Accrued expenses

1,700

1,500

32,473

96,143

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2019

£

£

Amounts due to factoring agent

-

3,443

Debt represents factoring advances secured over the debtors of the company.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 December 2019 and

30 June 2019:

2019

2019

£

£

P Small

Balance outstanding at start of period

(19,188

)

(14,623

)

Amounts advanced

203,310

3,435

Amounts repaid

(36,706

)

(8,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

147,416

(19,188

)

During the period, J Johnston maintained his loan to the company. As at 31 December 2019, the company owed

him £23,090 (2019: £23,090).

These balances represent the maximum amount outstanding during the year and the loans are interest free and

repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Small and J Johnston.