Registered number
07633718
STYLEX PARTY LTD
Filleted Accounts
31 May 2024
STYLEX PARTY LTD
Registered number: 07633718
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 63,733 53,075
Current assets
Stocks 601,464 437,766
Debtors 4 532,161 252,701
Cash at bank and in hand 75,558 397,322
Cash in transit - -
1,209,183 1,087,789
Creditors: amounts falling due within one year 5 (291,432) (345,825)
Net current assets 917,751 741,964
Total assets less current liabilities 981,484 795,039
Creditors: amounts falling due after more than one year 6 (22,786) (33,276)
Net assets 958,698 761,763
Capital and reserves
Called up share capital 100 100
Profit and loss account 958,598 761,663
Shareholder's funds 958,698 761,763
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.
Haroon Uz ZAMAN
Director
Approved by the board on 31 October 2024
STYLEX PARTY LTD
Notes to the Accounts
for the year ended 31 May 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. 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 10% RBM
Office Equipment 10% RBM
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 13
3 Tangible fixed assets
Plant and machinery etc Equipments, F&F Total
£ £ £
Cost
At 1 June 2023 129,658 44,186 173,844
Additions - 31,167 31,167
At 31 May 2024 129,658 75,353 205,011
Depreciation
At 1 June 2023 102,474 18,295 120,769
Charge for the year 5,437 15,072 20,509
At 31 May 2024 107,911 33,367 141,278
Net book value
At 31 May 2024 21,747 41,986 63,733
At 31 May 2023 27,184 25,891 53,075
4 Debtors 2024 2023
£ £
Trade debtors 191,333 220,781
Prepayments and accrued income 49,904 17,860
Other taxes and social security - -
Amount due from group undertaking 284,324 3,000
Other debtors 6,600 11,060
532,161 252,701
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,870 6,164
Directors' Loan Account 3,073 17,252
Trade creditors 129,333 164,026
Amounts owed to group undertakings and undertakings in which the company has a participating interest 37,714 -
Corporation tax - -
Taxation and social security costs 116,442 136,900
Other creditors - 21,483
291,432 345,825
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,786 33,276
7 Other information
STYLEX PARTY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 17-19 Broadwalk, Harlow, Harlow
Essex, England
CM20 1HX
STYLEX PARTY LTD 07633718 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2024 Haroon Uz ZAMAN No description of principal activity 07633718 2022-06-01 2023-05-31 07633718 core:WithinOneYear 2023-05-31 07633718 core:AfterOneYear 2023-05-31 07633718 core:ShareCapital 2023-05-31 07633718 core:RetainedEarningsAccumulatedLosses 2023-05-31 07633718 2023-06-01 2024-05-31 07633718 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07633718 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07633718 bus:Director40 2023-06-01 2024-05-31 07633718 1 2023-06-01 2024-05-31 07633718 2 2023-06-01 2024-05-31 07633718 core:PlantMachinery 2023-06-01 2024-05-31 07633718 core:Vehicles 2023-06-01 2024-05-31 07633718 countries:England 2023-06-01 2024-05-31 07633718 bus:FRS102 2023-06-01 2024-05-31 07633718 bus:FilletedAccounts 2023-06-01 2024-05-31 07633718 2024-05-31 07633718 core:WithinOneYear 2024-05-31 07633718 core:AfterOneYear 2024-05-31 07633718 core:ShareCapital 2024-05-31 07633718 core:RetainedEarningsAccumulatedLosses 2024-05-31 07633718 core:PlantMachinery 2024-05-31 07633718 core:Vehicles 2024-05-31 07633718 2023-05-31 07633718 core:PlantMachinery 2023-05-31 07633718 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure