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REGISTERED NUMBER: 08908227 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28th February 2023

for

FW Style Limited

FW Style Limited (Registered number: 08908227)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FW Style Limited

Company Information
for the year ended 28th February 2023







DIRECTORS: G C Thompson
M A Wilkinson
S A Kempson





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 08908227 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

FW Style Limited (Registered number: 08908227)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,019 83,851

CURRENT ASSETS
Stocks 438,599 573,544
Debtors 5 793,202 666,308
Cash at bank 771,166 863,298
2,002,967 2,103,150
CREDITORS
Amounts falling due within one year 6 1,006,717 1,060,155
NET CURRENT ASSETS 996,250 1,042,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,071,269

1,126,846

CREDITORS
Amounts falling due after more than one
year

7

(23,158

)

(57,707

)

PROVISIONS FOR LIABILITIES (14,254 ) (15,932 )
NET ASSETS 1,033,857 1,053,207

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,033,557 1,052,907
SHAREHOLDERS' FUNDS 1,033,857 1,053,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

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.

FW Style Limited (Registered number: 08908227)

Balance Sheet - continued
28th February 2023



The financial statements were approved by the Board of Directors and authorised for issue on 19th October 2023 and were signed on its behalf by:





G C Thompson - Director


FW Style Limited (Registered number: 08908227)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

FW Style 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.

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.

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 - 25% on reducing balance, 20% on reducing balance and Straight line over 5 years

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 11 (2022 - 7 ) .

FW Style Limited (Registered number: 08908227)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2022 136,093
Additions 16,673
Disposals (6,101 )
At 28th February 2023 146,665
DEPRECIATION
At 1st March 2022 52,242
Charge for year 22,254
Eliminated on disposal (2,850 )
At 28th February 2023 71,646
NET BOOK VALUE
At 28th February 2023 75,019
At 28th February 2022 83,851

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 316,758 153,777
Other debtors 476,444 512,531
793,202 666,308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,870 10,648
Hire purchase contracts (see note 8) 7,682 8,380
Trade creditors 191,118 111,602
Taxation and social security 345,187 384,613
Other creditors 452,860 544,912
1,006,717 1,060,155

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,158 32,025
Hire purchase contracts (see note 8) - 7,682
Other creditors - 18,000
23,158 57,707

No security was required for the bank loan.

FW Style Limited (Registered number: 08908227)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 7,682 8,380
Between one and five years - 7,682
7,682 16,062

Non-cancellable operating leases
2023 2022
£    £   
Within one year 68,033 91,982
Between one and five years 36,182 46,245
104,215 138,227

9. RELATED PARTY DISCLOSURES

FWS Developments Limited is a company related by common control. At the balance sheet date, there is a loan outstanding of £412,000 (2022: £400,000) from FWS Developments Limited. This loan is repayable on demand and is included in other debtors.

10. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.