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Company Registration No. 12603282 (England and Wales)
Farnsworth Fashions Ltd Unaudited accounts for the year ended 31 May 2023
Farnsworth Fashions Ltd Unaudited accounts Contents
Page
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Farnsworth Fashions Ltd Company Information for the year ended 31 May 2023
Director
Deborah Farnsworth
Company Number
12603282 (England and Wales)
Registered Office
41 St Helens Gate Huddersfield West Yorkshire HD4 6SD
Accountants
CGI Accountants Ltd Branch House 31-33 Branch Road Batley West Yorkshire WF17 5SB
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Farnsworth Fashions Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
731 
768 
Current assets
Inventories
53,500 
47,000 
Debtors
- 
229 
Cash at bank and in hand
2,868 
6,401 
56,368 
53,630 
Creditors: amounts falling due within one year
(3,761)
(5,571)
Net current assets
52,607 
48,059 
Total assets less current liabilities
53,338 
48,827 
Creditors: amounts falling due after more than one year
(55,497)
(52,163)
Net liabilities
(2,159)
(3,336)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(2,259)
(3,436)
Shareholders' funds
(2,159)
(3,336)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 November 2023 and were signed on its behalf by
Deborah Farnsworth Director Company Registration No. 12603282
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Farnsworth Fashions Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Farnsworth Fashions Ltd is a private company, limited by shares, registered in England and Wales, registration number 12603282. The registered office is 41 St Helens Gate, Huddersfield, West Yorkshire, HD4 6SD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
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Farnsworth Fashions Ltd Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2022
1,200 
Additions
146 
At 31 May 2023
1,346 
Depreciation
At 1 June 2022
432 
Charge for the year
183 
At 31 May 2023
615 
Net book value
At 31 May 2023
731 
At 31 May 2022
768 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
229 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
103 
76 
Trade creditors
1,000 
2,280 
Other creditors
2,658 
3,215 
3,761 
5,571 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
55,497 
52,163 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Farnsworth Fashions Ltd Notes to the Accounts for the year ended 31 May 2023
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Deborah Farnsworth
52,163 
7,634 
4,300 
55,497 
52,163 
7,634 
4,300 
55,497 
Included within creditors is a directors loan amounting to £55497 This is an interest free loan with no fixed date for repayment.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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