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REGISTERED NUMBER: SC280180 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Fat Buddha Limited

Fat Buddha Limited (Registered number: SC280180)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fat Buddha Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: G A Frew





SECRETARY: G A Frew





REGISTERED OFFICE: 81 Queen Street
Glasgow
G1 3DA





REGISTERED NUMBER: SC280180 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER

Fat Buddha Limited (Registered number: SC280180)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 118

CURRENT ASSETS
Stocks 400,962 432,215
Debtors 5 20,774 29,328
Cash at bank and in hand 161,395 32,923
583,131 494,466
CREDITORS
Amounts falling due within one year 6 269,027 287,034
NET CURRENT ASSETS 314,104 207,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,104

207,550

CREDITORS
Amounts falling due after more than one
year

7

(86,510

)

(56,516

)

PROVISIONS FOR LIABILITIES - (22 )
NET ASSETS 227,594 151,012

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 226,594 150,012
227,594 151,012

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

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

The director acknowledges her 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.

Fat Buddha Limited (Registered number: SC280180)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





G A Frew - Director


Fat Buddha Limited (Registered number: SC280180)

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

1. STATUTORY INFORMATION

Fat Buddha Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the retail sale of clothing during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the company has the right to receive it.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and selling price, after making allowance for obsolete and slow moving items.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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 9 (2023 - 9 ) .

Fat Buddha Limited (Registered number: SC280180)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 29,660
DEPRECIATION
At 1 February 2023 29,542
Charge for year 118
At 31 January 2024 29,660
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 118

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 20,774 29,328

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,419 9,808
Trade creditors 185,898 221,333
Taxation and social security 55,682 35,138
Other creditors 17,028 20,755
269,027 287,034

Other creditors includes the director's current account which is unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,366 25,846
Other creditors 71,144 30,670
86,510 56,516