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REGISTERED NUMBER: 07488847 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

FUTURO FASHION LTD

FUTURO FASHION LTD (REGISTERED NUMBER: 07488847)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTURO FASHION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: A Domalik





REGISTERED OFFICE: Craven House
Ground Floor
40-44 Uxbridge Road
London
W5 2BS





REGISTERED NUMBER: 07488847 (England and Wales)





ACCOUNTANTS: J.Dauman Finance Ltd
Chartered Accountants
Craven House
Ground Floor
40-44 Uxbridge Road
Ealing
London
W5 2BS

FUTURO FASHION LTD (REGISTERED NUMBER: 07488847)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 48
Tangible assets 5 1,103 1,398
1,103 1,446

CURRENT ASSETS
Stocks 66,242 42,146
Debtors 6 118,937 202,610
Cash at bank and in hand 154,425 126,091
339,604 370,847
CREDITORS
Amounts falling due within one year 7 242,578 300,813
NET CURRENT ASSETS 97,026 70,034
TOTAL ASSETS LESS CURRENT LIABILITIES 98,129 71,480

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 98,029 71,380
SHAREHOLDERS' FUNDS 98,129 71,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





A Domalik - Director


FUTURO FASHION LTD (REGISTERED NUMBER: 07488847)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at variable rates on reducing balance

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 4 (2021 - 6 ) .

FUTURO FASHION LTD (REGISTERED NUMBER: 07488847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022
and 31 December 2022 1,296
AMORTISATION
At 1 January 2022 1,248
Charge for year 48
At 31 December 2022 1,296
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 48

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 - 6,469 6,469
Additions 1,103 - 1,103
Exchange differences - (1,153 ) (1,153 )
At 31 December 2022 1,103 5,316 6,419
DEPRECIATION
At 1 January 2022 - 5,071 5,071
Charge for year - 245 245
At 31 December 2022 - 5,316 5,316
NET BOOK VALUE
At 31 December 2022 1,103 - 1,103
At 31 December 2021 - 1,398 1,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 46,871 198,425
Other debtors 72,066 4,185
118,937 202,610

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 665 44,700
Trade creditors 136,921 146,650
Taxation and social security 71,966 89,330
Other creditors 33,026 20,133
242,578 300,813