The School Outfit Ltd - Accounts to registrar

REGISTERED NUMBER: 04183898 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

The School Outfit Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Ellwood

Mrs M Ibbitson

REGISTERED OFFICE:

62 Hutton Close

Cowther Industrial Estate

Washington

Tyne and Wear

NE38 0AH

REGISTERED NUMBER:

04183898 (England and Wales)

FIXED ASSETS

Tangible assets

4

18,303

24,405

CURRENT ASSETS

Stocks

125,000

Debtors

5

68,628

5,204

Cash at bank

2,102

6,841

195,730

137,045

CREDITORS

Amounts falling due within one year

6

173,396

121,411

NET CURRENT ASSETS

22,334

15,634

TOTAL ASSETS LESS CURRENT
LIABILITIES

40,637

40,039

PROVISIONS FOR LIABILITIES

4,588

NET ASSETS

36,049

35,451

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

35,049

34,451

SHAREHOLDERS' FUNDS

36,049

35,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 21 December 2017 and were signed on its behalf
by:

Mrs M Ibbitson - Director

1.	STATUTORY INFORMATION

The School Outfit 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

103,236

DEPRECIATION

At 1 April 2016

78,831

Charge for year

6,102

At 31 March 2017

84,933

NET BOOK VALUE

At 31 March 2017

18,303

At 31 March 2016

24,405

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

22,789

2,984

Other debtors

45,839

2,220

68,628

5,204

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Bank loans and overdrafts

3,022

6,051

Trade creditors

19,480

18,093

Taxation and social security

1,705

155

Other creditors

149,189

97,112

173,396

121,411

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid rent to Mrs J Ellwood and Mrs M Ibbitson to the value of £18,000 (2016 -

£18,000).

The School Outfit Ltd - Accounts to registrar - small 17.2

The School Outfit Ltd - Accounts to registrar - small 17.2