Fig Cashmere Ltd 03561019 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Cashmere Wholesaler Digita Accounts Production Advanced 6.30.9574.0 true true 03561019 2023-02-01 2024-01-31 03561019 2024-01-31 03561019 core:RetainedEarningsAccumulatedLosses 2024-01-31 03561019 core:ShareCapital 2024-01-31 03561019 core:CurrentFinancialInstruments 2024-01-31 03561019 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 03561019 core:FurnitureFittings 2024-01-31 03561019 bus:SmallEntities 2023-02-01 2024-01-31 03561019 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03561019 bus:FilletedAccounts 2023-02-01 2024-01-31 03561019 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 03561019 bus:RegisteredOffice 2023-02-01 2024-01-31 03561019 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 03561019 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03561019 core:FurnitureFittings 2023-02-01 2024-01-31 03561019 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 03561019 countries:EnglandWales 2023-02-01 2024-01-31 03561019 2023-01-31 03561019 core:FurnitureFittings 2023-01-31 03561019 2022-02-01 2023-01-31 03561019 2023-01-31 03561019 core:RetainedEarningsAccumulatedLosses 2023-01-31 03561019 core:ShareCapital 2023-01-31 03561019 core:CurrentFinancialInstruments 2023-01-31 03561019 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 03561019 core:FurnitureFittings 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 03561019

Fig Cashmere Ltd
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 January 2024

 

Fig Cashmere Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Fig Cashmere Ltd

(Registration number: 03561019)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,274

831

Current assets

 

Stocks

5

24,842

23,507

Debtors

6

33,435

33,682

Cash at bank and in hand

 

120,200

78,657

 

178,477

135,846

Creditors: Amounts falling due within one year

7

(158,976)

(116,983)

Net current assets

 

19,501

18,863

Net assets

 

20,775

19,694

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

19,775

18,694

Shareholders' funds

 

20,775

19,694

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................
Mrs Y D Shakya
Company secretary and director

 

Fig Cashmere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fig Cashmere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings fixtures and equipment

20-25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

Fig Cashmere Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2023

8,436

8,436

Additions

1,014

1,014

At 31 January 2024

9,450

9,450

Depreciation

At 1 February 2023

7,605

7,605

Charge for the year

571

571

At 31 January 2024

8,176

8,176

Carrying amount

At 31 January 2024

1,274

1,274

At 31 January 2023

831

831

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

24,842

23,507

6

Debtors

2024
£

2023
£

Other debtors

21,400

21,955

Prepayments

12,035

11,727

33,435

33,682

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

56,433

16,277

Taxation and social security

17,782

18,241

Accruals and deferred income

4,463

1,988

Other creditors

80,298

80,477

158,976

116,983