Registered number
05489413
Fiz Fashion Agents Ltd
Filleted Accounts
30 June 2023
Fiz Fashion Agents Ltd
Registered number: 05489413
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 167,214 165,210
Current assets
Stocks 6,801 5,742
Debtors 4 39,002 48,565
Cash at bank and in hand 69,010 47,264
114,813 101,571
Creditors: amounts falling due within one year 5 (5,500) (6,697)
Net current assets 109,313 94,874
Net assets 276,527 260,084
Capital and reserves
Called up share capital 100 100
Profit and loss account 276,427 259,984
Shareholder's funds 276,527 260,084
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Fletcher
Director
Approved by the board on 24 January 2024
Fiz Fashion Agents Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 165,000 1,149 166,149
Additions - 2,461 2,461
Disposals - (1,149) (1,149)
At 30 June 2023 165,000 2,461 167,461
Depreciation
At 1 July 2022 - 939 939
Charge for the year - 247 247
On disposals - (939) (939)
At 30 June 2023 - 247 247
Net book value
At 30 June 2023 165,000 2,214 167,214
At 30 June 2022 165,000 210 165,210
4 Debtors 2023 2022
£ £
Trade debtors 36,502 43,335
Other debtors 2,500 5,230
39,002 48,565
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 734 82
Taxation and social security costs 3,726 2,719
Other creditors 1,040 3,896
5,500 6,697
6 Other information
Fiz Fashion Agents Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Wickets
Cousley Wood
Wadhurst
East Sussex
TN5 6EP
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