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REGISTERED NUMBER: 07956415 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

A FINE PAIR OF SHOES LIMITED

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A FINE PAIR OF SHOES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J A L Nelson
Mrs S Nelson





REGISTERED OFFICE: 12, Unit 12 T1300
Plato Close
Warwick
United Kingdom
CV34 6YB





REGISTERED NUMBER: 07956415 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 588,272 558,890
588,272 558,890

CURRENT ASSETS
Stocks 275,104 301,542
Debtors 6 11,389 7,451
Cash at bank and in hand 4,715 17,525
291,208 326,518
CREDITORS
Amounts falling due within one year 7 108,161 156,545
NET CURRENT ASSETS 183,047 169,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

771,319

728,863

CREDITORS
Amounts falling due after more than one
year

8

541,696

524,983
NET ASSETS 229,623 203,880

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings 229,621 203,878
229,623 203,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mr J A L Nelson - Director


A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

A Fine Pair Of Shoes Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022
and 31 March 2023 100,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 555,630 46,402 - 19,969 622,001
Additions - 1,202 54,990 - 56,192
At 31 March 2023 555,630 47,604 54,990 19,969 678,193
DEPRECIATION
At 1 April 2022 27,153 18,086 - 17,872 63,111
Charge for year - 11,540 13,748 1,522 26,810
At 31 March 2023 27,153 29,626 13,748 19,394 89,921
NET BOOK VALUE
At 31 March 2023 528,477 17,978 41,242 575 588,272
At 31 March 2022 528,477 28,316 - 2,097 558,890

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,601 -
VAT 8,788 7,451
11,389 7,451

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,136 30,367
Hire purchase contracts 5,040 -
Trade creditors 45,124 90,839
Social security and other taxes 1,968 -
Other creditors 22,973 33,419
Accruals and deferred income 1,920 1,920
108,161 156,545

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-5 years 88,553 114,435
Bank loans more 5 yr by instal 112,295 118,009
Hire purchase contracts 39,143 -
Directors' loan accounts 301,705 292,539
541,696 524,983

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 112,295 118,009

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 231,984 262,789

The company has a fixed and floating charge over the property.