Wearable Clothing Ltd

	Registered number
	SC264279

	Wearable Clothing Ltd
	Unaudited Accounts
	for the year ended
	31 March 2017

Wearable Clothing Ltd Balance Sheet as at 31 March 2017
	Notes		2017 £		2016 £
Fixed assets
Intangible assets	3		9,662		9,662
			9,662		9,662

Current assets
Stocks		28,074		42,238
Debtors	4	29,031		3,580
		57,105		45,818

Creditors: amounts falling due within one year	5	41,929		40,158

Net current assets / (liabilities)			15,176		5,660

Total assets less current liabilities			24,838		15,322

Creditors: amounts falling due after more than one year	6		8,162		0

Total net assets (liabilities)			16,676		15,322

Capital and reserves
Called up share capital	7		100		100
Profit and loss account			16,576		15,222
Shareholders' funds			16,676		15,322

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

Mr H Gillespie

Director

Approved by the board on 10 November 2017

Company No: SC264279 (Scotland)

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
	Changes in accounting standards, policies and estimates The transition to a new accounting standard has resulted to some changes in the accounting policies. The nature of these changes, and any impact on the values displayed for the comparative period, are explained in the notes below where applicable.

	Going concern basis
	The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.

	Revenue recognition
	Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

	Tangible fixed assets depreciation policy
	Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

	Stocks
	Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Stocks

Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Employees
	2017	2016
Average number of employees during the period	2	2

3.	Intangible fixed assets
		Total
	Cost	£
	At 1 April 2016	24,345
	At 31 March 2017	24,345
	Amortisation
	At 1 April 2016	14,683
	At 31 March 2017	14,683
	Net book value
	At 31 March 2017	9,662
	At 31 March 2016	9,662

Debtors
	2017	2016
	£	£
Other debtors	29,031	3,580
	29,031	3,580

Creditors: amounts falling due within one year
	2017	2016
	£	£
Bank Loans & Overdrafts	13,477	14,219
Trade creditors	8,900	12,464
Other creditors	19,552	13,475
	41,929	40,158
Bank loans and overdrafts are secured by the personal guarantee of the directors, Mrs P Watson and Mr H Gillespie.

Creditors: amounts falling due after one year
	2017	2016
	£	£
Bank Loans & overdrafts	8,162	0
	8,162	0
Bank loans are secured by the personal guarantee of the directors, Mrs P Watson and Mr H Gillespie.

7.	Share capital
		2017		2016
		£		£
		100		100

8.	Related party disclosures
	Controlling party The company is jointly controlled by Mrs P Watson and Mr H Gillespie.