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REGISTERED NUMBER: 07956415 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

A FINE PAIR OF SHOES LIMITED

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A FINE PAIR OF SHOES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J A L Nelson
S Nelson





REGISTERED OFFICE: 12, Unit 12 T1300
Plato Close
Warwick
United Kingdom
CV34 6YB





REGISTERED NUMBER: 07956415 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 568,968 588,272
568,968 588,272

CURRENT ASSETS
Stocks 277,525 275,104
Debtors 6 20,950 11,389
Cash at bank and in hand 6,723 4,715
305,198 291,208
CREDITORS
Amounts falling due within one year 7 155,337 108,161
NET CURRENT ASSETS 149,861 183,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

718,829

771,319

CREDITORS
Amounts falling due after more than one
year

8

410,923

541,696
NET ASSETS 307,906 229,623

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings 307,904 229,621
307,906 229,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

BALANCE SHEET - continued
31 MARCH 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





J A L Nelson - Director


A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

A Fine Pair Of Shoes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 555,630 122,563 678,193
Additions - 3,543 3,543
At 31 March 2024 555,630 126,106 681,736
DEPRECIATION
At 1 April 2023 27,153 62,768 89,921
Charge for year - 22,847 22,847
At 31 March 2024 27,153 85,615 112,768
NET BOOK VALUE
At 31 March 2024 528,477 40,491 568,968
At 31 March 2023 528,477 59,795 588,272

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,950 2,601
Other debtors - 8,788
20,950 11,389

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,932 31,136
Hire purchase contracts 5,344 5,040
Trade creditors 70,432 45,124
Taxation and social security 38,416 1,968
Other creditors 31,213 24,893
155,337 108,161

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 141,040 200,848
Hire purchase contracts 33,799 39,143
Other creditors 236,084 301,705
410,923 541,696

A FINE PAIR OF SHOES LIMITED (REGISTERED NUMBER: 07956415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 101,242 112,295

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 150,972 231,984

The company has a fixed and floating charge over the property.