REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 SEPTEMBER 2021 TO 28 FEBRUARY 2023 |
FOR |
VOGUE TEXTILES & ACCESSORIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 SEPTEMBER 2021 TO 28 FEBRUARY 2023 |
FOR |
VOGUE TEXTILES & ACCESSORIES LIMITED |
VOGUE TEXTILES & ACCESSORIES LIMITED (REGISTERED NUMBER: 12835433) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 September 2021 to 28 February 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
VOGUE TEXTILES & ACCESSORIES LIMITED |
COMPANY INFORMATION |
for the Period 1 September 2021 to 28 February 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
VOGUE TEXTILES & ACCESSORIES LIMITED (REGISTERED NUMBER: 12835433) |
STATEMENT OF FINANCIAL POSITION |
28 February 2023 |
28.2.23 | 31.8.21 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 6 |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
VOGUE TEXTILES & ACCESSORIES LIMITED (REGISTERED NUMBER: 12835433) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 September 2021 to 28 February 2023 |
1. | STATUTORY INFORMATION |
Vogue Textiles & Accessories Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
The Company only enters into basic financial instrument transaction that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to and from related parties and investments in ordinary shares. |
VOGUE TEXTILES & ACCESSORIES LIMITED (REGISTERED NUMBER: 12835433) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 September 2021 to 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Debtors, creditors, provision for liabilities |
Debtors: Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors: Short term creditors are measured at the transactions price. Other financial liabilities, including bank loans are measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method. |
Provision for liabilities: Provisions are made where an event has taken place that gives the Company a legal obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be |
made of the amount of the obligation. Provision are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure to settle the obligation, taking into account relevant risks and uncertainties. |
Impairment of tangible and intangible assets |
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an assets may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior period may no longer exist or may have decreased. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 31.8.21 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 31.8.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors are accrued expenses of £1,600 (2021: £1,600) |
VOGUE TEXTILES & ACCESSORIES LIMITED (REGISTERED NUMBER: 12835433) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 September 2021 to 28 February 2023 |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 September 2021 |
Profit for the period |
At 28 February 2023 |