Registered number
SC762483
AKZ Fashion Ltd
Filleted Accounts
31 March 2024
AKZ Fashion Ltd
Registered number: SC762483
Balance Sheet
as at 31 March 2024
Notes
£
Fixed assets
Tangible assets 3 9,445
Current assets
Stocks 22,592
Cash at bank and in hand 1,665
24,257
Creditors: amounts falling due within one year 4 (1,439)
Net current assets 22,818
Total assets less current liabilities 32,263
Creditors: amounts falling due after more than one year 5 (33,589)
Net assets/(liabilities) (1,326)
Capital and reserves
Called up share capital 1
Profit and loss account (1,327)
Shareholder's funds (1,326)
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.
Mrs Aneela Kalsoom
Director
Approved by the board on 19 November 2024
AKZ Fashion Ltd
Notes to the Accounts
for the period from 16 March 2023 to 31 March 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, gross of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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:
Fixtures, fittings, tools and equipment 10% reducing balance
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.
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.
2 Employees
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Fixture & fittings
£
Cost
Additions 10,494
At 31 March 2024 10,494
Depreciation
Charge for the period 1,049
At 31 March 2024 1,049
Net book value
At 31 March 2024 9,445
4 Creditors: amounts falling due within one year
£
Other creditors 1,439
5 Creditors: amounts falling due after one year
£
Directors loan account 33,589
AKZ Fashion Ltd SC762483 false 2023-03-16 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mrs Aneela Kalsoom No description of principal activity SC762483 2023-03-16 2024-03-31 SC762483 bus:PrivateLimitedCompanyLtd 2023-03-16 2024-03-31 SC762483 bus:AuditExemptWithAccountantsReport 2023-03-16 2024-03-31 SC762483 bus:Director40 2023-03-16 2024-03-31 SC762483 2 2023-03-16 2024-03-31 SC762483 bus:FRS102 2023-03-16 2024-03-31 SC762483 bus:FilletedAccounts 2023-03-16 2024-03-31 SC762483 2024-03-31 SC762483 core:WithinOneYear 2024-03-31 SC762483 core:AfterOneYear 2024-03-31 SC762483 core:ShareCapital 2024-03-31 SC762483 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC762483 2023-03-15 iso4217:GBP xbrli:pure