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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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Stussy UK Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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for |
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Stussy UK Limited |
Stussy UK Limited (Registered number: 02619904) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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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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Stussy UK Limited |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
255 - 261 Horn Lane |
London |
W3 9EH |
Stussy UK Limited (Registered number: 02619904) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Stussy UK Limited (Registered number: 02619904) |
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Balance Sheet - continued |
30 June 2017 |
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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 director on
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Stussy UK Limited (Registered number: 02619904) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Stussy UK Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on the going concern basis. In assessing whether the going |
concern assumption is appropriate, the directors have taken into account all relevant information about |
the future trading including profit and cash forecasts. The business has a history of making profits and |
is cash generative and this is expected to continue. It is therefore considered appropriate to adopt the |
going concern basis of accounting in the preparation of the financial statements. |
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Turnover |
Turnover represents sales made net of VAT. Turnover is recognised when the goods are physically |
delivered to the customer.r. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in/first out |
basis. Net realisable value represents estimated selling price less costs to complete and sell. |
Provisions are made for slow moving, obsolete or damaged stock where the net realisable value is |
less than cost. |
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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. |
Stussy UK Limited (Registered number: 02619904) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange |
ruling at the balance sheet date. |
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Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date |
of transaction. |
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Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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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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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
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Stussy UK Limited (Registered number: 02619904) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 47,487 | 59,637 |
Accrued income |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 129,891 | 102,049 |
Other creditors | 14,017 | 4,472 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other loans - 1-2 years |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is M R Kopelman by virtue of his ownership of all the issued shares of the |
company. |