Company Registration No. 07930794 (England and Wales)
FRONT ROW FASHION LIMITED
Unaudited financial statements
For the year ended 28 February 2018
Pages for filing with registrar
FRONT ROW FASHION LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
FRONT ROW FASHION LIMITED
STATEMENT OF FINANCIAL POSITION
As at 28 February 2018
- 1 -
2018
2017
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
300
4,075
Current assets
Trade and other receivables
4
23,499
926
Cash and cash equivalents
111,562
100,943
135,061
101,869
Current liabilities
5
(39,172)
(11,179)
Net current assets
95,889
90,690
Total assets less current liabilities
96,189
94,765
Equity
Called up share capital
6
100
100
Retained earnings
96,089
94,665
Total equity
96,189
94,765

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 October 2018 and are signed on its behalf by:
Mrs O Wilkinson
Mr J Wilkinson
Director
Director
Company Registration No. 07930794
FRONT ROW FASHION LIMITED
STATEMENT OF CHANGES IN EQUITY
For the year ended 28 February 2018
- 2 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 March 2016
100
145,876
145,976
Year ended 28 February 2017:
Profit and total comprehensive income for the year
-
9,789
9,789
Dividends
-
(61,000)
(61,000)
Balance at 28 February 2017
100
94,665
94,765
Year ended 28 February 2018:
Profit and total comprehensive income for the year
-
44,768
44,768
Dividends
-
(43,344)
(43,344)
Balance at 28 February 2018
100
96,089
96,189
FRONT ROW FASHION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 28 February 2018
- 3 -
1
Accounting policies
Company information

Front Row Fashion Limited is a private company limited by shares incorporated in England and Wales. The registered office is 27 Ladas Road, London, SE27 0UP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% straight line
Motor vehicles
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FRONT ROW FASHION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 28 February 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the income statement for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).

FRONT ROW FASHION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 28 February 2018
- 5 -
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 March 2017 and 28 February 2018
16,808
Depreciation and impairment
At 1 March 2017
12,733
Depreciation charged in the year
3,775
At 28 February 2018
16,508
Carrying amount
At 28 February 2018
300
At 28 February 2017
4,075
4
Trade and other receivables
2018
2017
Amounts falling due within one year:
£
£
Trade receivables
21,316
661
Other receivables
2,183
265
23,499
926
5
Current liabilities
2018
2017
£
£
Trade payables
343
-
Corporation tax
11,441
4,055
Other taxation and social security
11,083
3,439
Other payables
16,305
3,685
39,172
11,179
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100
100
100
2018-02-282017-03-01falseCCH SoftwareCCH Accounts Production 2018.300No description of principal activity01 November 2018Mrs O  WilkinsonJ  Wilkinson079307942017-03-012018-02-28079307942018-02-28079307942017-02-2807930794core:OtherPropertyPlantEquipment2018-02-2807930794core:OtherPropertyPlantEquipment2017-02-2807930794core:CurrentFinancialInstruments2018-02-2807930794core:CurrentFinancialInstruments2017-02-2807930794core:ShareCapital2018-02-2807930794core:ShareCapital2017-02-2807930794core:RetainedEarningsAccumulatedLosses2018-02-2807930794core:RetainedEarningsAccumulatedLosses2017-02-2807930794core:ShareCapitalOrdinaryShares2018-02-2807930794core:ShareCapitalOrdinaryShares2017-02-2807930794bus:Director12017-03-012018-02-2807930794bus:Director22017-03-012018-02-28079307942016-03-012017-02-2807930794core:RetainedEarningsAccumulatedLosses2017-03-012018-02-2807930794core:RetainedEarningsAccumulatedLosses2016-03-012017-02-2807930794core:ComputerEquipment2017-03-012018-02-2807930794core:MotorVehicles2017-03-012018-02-2807930794core:OtherPropertyPlantEquipment2017-02-2807930794core:OtherPropertyPlantEquipment2017-03-012018-02-2807930794bus:OrdinaryShareClass12017-03-012018-02-2807930794bus:OrdinaryShareClass12018-02-2807930794bus:PrivateLimitedCompanyLtd2017-03-012018-02-2807930794bus:FRS1022017-03-012018-02-2807930794bus:AuditExemptWithAccountantsReport2017-03-012018-02-2807930794bus:SmallCompaniesRegimeForAccounts2017-03-012018-02-2807930794bus:FullAccounts2017-03-012018-02-28xbrli:purexbrli:sharesiso4217:GBP