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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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General Sewing Machines & Accessories |
Limited |
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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General Sewing Machines & Accessories |
Limited |
General Sewing Machines & Accessories |
Limited (Registered number: 00188616) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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General Sewing Machines & Accessories |
Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14 Austin Friars |
London |
EC2N 2HE |
General Sewing Machines & Accessories |
Limited (Registered number: 00188616) |
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Balance Sheet |
31 March 2021 |
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31/3/21 | 31/3/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Retained earnings |
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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. |
General Sewing Machines & Accessories |
Limited (Registered number: 00188616) |
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Balance Sheet - continued |
31 March 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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General Sewing Machines & Accessories |
Limited (Registered number: 00188616) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | Statutory information |
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General Sewing Machines & Accessories Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | Employees and directors |
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The average number of employees during the year was
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General Sewing Machines & Accessories |
Limited (Registered number: 00188616) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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4. | Fixed asset investments |
Other |
investments |
£ |
Cost or valuation |
At 1 April 2020 |
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Additions |
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Disposals | ( |
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Revaluations |
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At 31 March 2021 |
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Net book value |
At 31 March 2021 |
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At 31 March 2020 |
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Cost or valuation at 31 March 2021 is represented by: |
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Other |
investments |
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Valuation in 2017 | 6,182,964 |
Valuation in 2018 | 1,537,327 |
Valuation in 2019 | 563,491 |
Valuation in 2020 | (1,072,954 | ) |
Valuation in 2021 | 2,321,148 |
9,531,976 |
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5. | Creditors: amounts falling due within one year |
31/3/21 | 31/3/20 |
£ | £ |
Trade creditors |
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Other creditors |
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