Registered number
09339950
CHIC FASHION UK LTD
Filleted Accounts
31 December 2023
CHIC FASHION UK LTD
Registered number: 09339950
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,402 4,689
Current assets
Stocks 1,711 141,250
Cash at bank and in hand (9,920) (9,241)
(8,209) 132,009
Creditors: amounts falling due within one year 4 - (6,630)
Net current (liabilities)/assets (8,209) 125,379
Total assets less current liabilities (5,807) 130,068
Creditors: amounts falling due after more than one year 5 (71,120) (46,281)
Net (liabilities)/assets (76,927) 83,787
Capital and reserves
Called up share capital 100 100
Profit and loss account (77,027) 83,687
Shareholders' funds (76,927) 83,787
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
K.Benson
Director
Approved by the board on 24 November 2024
CHIC FASHION UK LTD
Notes to the Accounts
for the year ended 31 December 2023
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. 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.
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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 January 2023 15,387
At 31 December 2023 15,387
Depreciation
At 1 January 2023 10,698
Charge for the year 2,287
At 31 December 2023 12,985
Net book value
At 31 December 2023 2,402
At 31 December 2022 4,689
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 6,630
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 71,120 46,281
6 Other information
CHIC FASHION UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
27 Old Gloucester Street
London
WC1N 3AX
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