Registered number
11833612
FENDER FEVER LIMITED
Filleted Accounts
29 February 2024
FENDER FEVER LIMITED
Registered number: 11833612
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,658 6,247
Current assets
Stocks 206,560 98,225
Debtors 4 950 21,546
Cash at bank and in hand 12,506 8,588
220,016 128,359
Creditors: amounts falling due within one year 5 (10,308) (92,950)
Net current assets 209,708 35,409
Total assets less current liabilities 214,366 41,656
Creditors: amounts falling due after more than one year 6 (209,801) (35,989)
Net assets 4,565 5,667
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,564 5,666
Shareholder's funds 4,565 5,667
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Alacan
Director
Approved by the board on 15 October 2024
FENDER FEVER LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on cost
Fixtures, fittings, tools and equipment 15% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 10,595
At 29 February 2024 10,595
Depreciation
At 1 March 2023 4,348
Charge for the year 1,589
At 29 February 2024 5,937
Net book value
At 29 February 2024 4,658
At 28 February 2023 6,247
4 Debtors 2024 2023
£ £
Trade debtors - 20,776
Other debtors 950 770
950 21,546
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 25,573
Trade creditors 3,214 1,742
Taxation and social security costs 6,709 8,135
Other creditors 385 57,500
10,308 92,950
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 36,101 35,989
Other creditors 173,700 -
209,801 35,989
7 Other information
FENDER FEVER LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
596 Green Lanes
Palmers Green
London
N13 5RY
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