Company Registration No. 11042588 (England and Wales)
FASHION INDUSTRY INSIDERS LIMITED
Unaudited accounts
for the year ended 30 November 2023
FASHION INDUSTRY INSIDERS LIMITED
Unaudited accounts
Contents
FASHION INDUSTRY INSIDERS LIMITED
Company Information
for the year ended 30 November 2023
Company Number
11042588 (England and Wales)
Registered Office
14 MILLER HOUSE 429A HARROW ROAD
LONDON
W10 4SD
UNITED KINGDOM
Accountants
D K OBENG GROUP
120 DALMALLY ROAD
CROYDON
SURREY
CR0 6LT
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
FASHION INDUSTRY INSIDERS LIMITED
for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
FASHION INDUSTRY INSIDERS LIMITED for the year ended
30 November 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of FASHION INDUSTRY INSIDERS LIMITED, as a body, in accordance with the terms of our engagement letter dated 10 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of FASHION INDUSTRY INSIDERS LIMITED and state those matters that we have agreed to state to the Board of Directors of FASHION INDUSTRY INSIDERS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FASHION INDUSTRY INSIDERS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FASHION INDUSTRY INSIDERS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FASHION INDUSTRY INSIDERS LIMITED. You consider that FASHION INDUSTRY INSIDERS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FASHION INDUSTRY INSIDERS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
D K OBENG GROUP
Chartered Certified Accountants
120 DALMALLY ROAD
CROYDON
SURREY
CR0 6LT
19 January 2024
FASHION INDUSTRY INSIDERS LIMITED
Statement of financial position
as at 30 November 2023
Tangible assets
1,966
1,334
Cash at bank and in hand
1,550
979
Creditors: amounts falling due within one year
(12,469)
(5,699)
Net current assets
6,098
8,352
Total assets less current liabilities
8,064
9,686
Creditors: amounts falling due after more than one year
(6,801)
(8,965)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
888
467
Shareholders' funds
889
468
For the year ending 30 November 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 19 January 2024 and were signed on its behalf by
Edmond Kamara
Director
Company Registration No. 11042588
FASHION INDUSTRY INSIDERS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
FASHION INDUSTRY INSIDERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11042588. The registered office is 14 MILLER HOUSE 429A HARROW ROAD, LONDON, W10 4SD, UNITED KINGDOM.
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.
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:
Plant & machinery
33.33% Straight Line
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% Straight Line
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.
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 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
FASHION INDUSTRY INSIDERS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
The Financial Statements have been prepared on a going concern basis, despite the company's balance sheet showing net
liabilities of £4,129. This does not indicate that the company may be unable to continue trading. Based on the current forecasts
the directors have indicated that they have the resources to make funds available to the company to enable it to meet its debts
as and when they fall due for a period of at least twelve months from the date of approval of these financial statements and they
are of the opinion that the going concern basis is appropriate.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
1,300
700
2,000
At 30 November 2023
1,300
2,118
3,418
At 1 December 2022
433
233
666
Charge for the year
434
352
786
At 30 November 2023
867
585
1,452
At 30 November 2023
433
1,533
1,966
At 30 November 2022
867
467
1,334
Amounts falling due within one year
Accrued income and prepayments
-
13,072
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,600
3,600
Taxes and social security
7,870
781
7
Creditors: amounts falling due after more than one year
2023
2022
FASHION INDUSTRY INSIDERS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).