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Registered Number: 11660606
England and Wales

 

 

 

SFASHION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 405,765    477,765 
Tangible fixed assets 4 8,065   
Investments   9,076 
413,830    486,841 
Current assets      
Stocks 245,257    262,364 
Debtors 58,547    25,945 
Cash at bank and in hand 159    135 
303,963    288,444 
Creditors: amount falling due within one year (28,425)   (9,550)
Net current assets 275,538    278,894 
 
Total assets less current liabilities 689,368    765,735 
Creditors: amount falling due after more than one year (1,292,963)   (1,298,942)
Accruals and deferred income   (720)
Provisions for liabilities (452)  
Net assets (604,047)   (533,927)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (604,147)   (534,027)
Shareholders' funds (604,047)   (533,927)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 August 2024 and were signed by:


-------------------------------
Jiaojiao GENG
Director
1
General Information
SFASHION LTD is a private company, limited by shares, registered in England and Wales, registration number 11660606, registration address 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 5).
3.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 December 2022 477,765    477,765 
Additions  
Disposals  
At 30 November 2023 477,765    477,765 
Amortisation
At 01 December 2022  
Charge for year 72,000    72,000 
On disposals  
At 30 November 2023 72,000    72,000 
Net book values
At 30 November 2023 405,765    405,765 
At 30 November 2022 477,765    477,765 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 December 2022   9,077    9,077 
Additions 413    2,950    3,363 
Disposals    
At 30 November 2023 413    12,027    12,440 
Depreciation
At 01 December 2022    
Charge for year 83    4,292    4,375 
On disposals    
At 30 November 2023 83    4,292    4,375 
Net book values
Closing balance as at 30 November 2023 330    7,735    8,065 
Opening balance as at 01 December 2022   9,077    9,077 


2