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Company Registration No. 05668262 (England and Wales)
FASHION X FACTOR LIMITED Unaudited accounts for the year ended 31 March 2024
FASHION X FACTOR LIMITED Unaudited accounts Contents
Page
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FASHION X FACTOR LIMITED Company Information for the year ended 31 March 2024
Directors
Ashish Gupta Ashish Gupta
Company Number
05668262 (England and Wales)
Registered Office
18 Greenheys Drive London London E18 2HB England
Accountants
Equifin Accountancy Ltd 87 Kingshill drive Harrow Middlesex HA3 8QQ
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FASHION X FACTOR LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,912 
32,985 
Current assets
Inventories
203,205 
215,435 
Debtors
24,809 
23,190 
Cash at bank and in hand
13,858 
41,377 
241,872 
280,002 
Creditors: amounts falling due within one year
(127,495)
(125,738)
Net current assets
114,377 
154,264 
Total assets less current liabilities
139,289 
187,249 
Creditors: amounts falling due after more than one year
(25,628)
(46,248)
Provisions for liabilities
Other provisions
(9,675)
(9,675)
Net assets
103,986 
131,326 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
103,886 
131,226 
Shareholders' funds
103,986 
131,326 
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by
Ashish Gupta Director Company Registration No. 05668262
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FASHION X FACTOR LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
FASHION X FACTOR LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05668262. The registered office is 18 Greenheys Drive, London, London, E18 2HB, England.
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.
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.
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:
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FASHION X FACTOR LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
45,779 
16,500 
62,279 
Additions
- 
3,283 
3,283 
At 31 March 2024
45,779 
19,783 
65,562 
Depreciation
At 1 April 2023
18,312 
10,982 
29,294 
Charge for the year
9,156 
2,200 
11,356 
At 31 March 2024
27,468 
13,182 
40,650 
Net book value
At 31 March 2024
18,311 
6,601 
24,912 
At 31 March 2023
27,467 
5,518 
32,985 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
24,809 
13,190 
Other debtors
- 
10,000 
24,809 
23,190 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,648 
10,648 
VAT
29,235 
29,842 
Obligations under finance leases and hire purchase contracts
11,883 
11,883 
Trade creditors
58,580 
59,188 
Taxes and social security
4,856 
9,318 
Loans from directors
9,453 
2,499 
Accruals
2,840 
2,360 
127,495 
125,738 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
15,965 
25,812 
Obligations under finance leases and hire purchase contracts
9,663 
20,436 
25,628 
46,248 
Bank Loan includes unsecured Bounce back Loan from HSBC.
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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