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
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
FASHION X FACTOR LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
24,912
32,985
Inventories
203,205
215,435
Cash at bank and in hand
13,858
41,377
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
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
FASHION X FACTOR LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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:
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
At 31 March 2024
45,779
19,783
65,562
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
At 31 March 2024
18,311
6,601
24,912
At 31 March 2023
27,467
5,518
32,985
Amounts falling due within one year
Trade debtors
24,809
13,190
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,648
10,648
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,663
20,436
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).