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Company Registration No. 04664850 (England and Wales)
Sunshine Fashion Accessories Limited Unaudited accounts for the year ended 28 February 2023
Sunshine Fashion Accessories Limited Unaudited accounts Contents
Page
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Sunshine Fashion Accessories Limited Company Information for the year ended 28 February 2023
Director
Y Z Chen
Secretary
H H Weng
Company Number
04664850 (England and Wales)
Registered Office
105 Commercial Road Aldgate East London E1 1RD
Accountants
Anthony Daniel Associates 10 Julian Place London E14 3AT
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Sunshine Fashion Accessories Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,181 
9,634 
Current assets
Inventories
59,031 
45,451 
Debtors
2,897 
10,802 
Cash at bank and in hand
429,098 
412,988 
491,026 
469,241 
Creditors: amounts falling due within one year
(241,112)
(235,598)
Net current assets
249,914 
233,643 
Net assets
262,095 
243,277 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
261,095 
242,277 
Shareholders' funds
262,095 
243,277 
For the year ending 28 February 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 his 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 29 November 2023 and were signed on its behalf by
Y Z Chen Director Company Registration No. 04664850
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Sunshine Fashion Accessories Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Sunshine Fashion Accessories Limited is a private company, limited by shares, registered in England and Wales, registration number 04664850. The registered office is 105 Commercial Road, Aldgate East, London, E1 1RD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
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:
Computer equipment
25% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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. Deferred tax assets and liabilities are not discounted.
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Sunshine Fashion Accessories Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
7,687 
18,600 
26,287 
Additions
- 
4,207 
4,207 
At 28 February 2023
7,687 
22,807 
30,494 
Depreciation
At 1 March 2022
- 
16,653 
16,653 
Charge for the year
- 
1,660 
1,660 
At 28 February 2023
- 
18,313 
18,313 
Net book value
At 28 February 2023
7,687 
4,494 
12,181 
At 28 February 2022
7,687 
1,947 
9,634 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,311 
1,398 
Accrued income and prepayments
86 
9,404 
Other debtors
1,500 
- 
2,897 
10,802 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
4,057 
21,578 
Taxes and social security
65,093 
67,204 
Other creditors
48,686 
48,686 
Loans from directors
63,683 
49,908 
Accruals
59,593 
48,222 
241,112 
235,598 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
8
Controlling party
The ultimate controlling party is Mr. Y Z Chen, who is the sole director and holds fifty percent of the company shares.
9
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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