Frill Of It Limited 14819639 false 2023-04-21 2024-04-30 2024-04-30 The principal activity of the company is the production of accessories. Digita Accounts Production Advanced 6.30.9574.0 true true 14819639 2023-04-21 2024-04-30 14819639 2024-04-30 14819639 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14819639 bus:SmallEntities 2023-04-21 2024-04-30 14819639 bus:AuditExemptWithAccountantsReport 2023-04-21 2024-04-30 14819639 bus:FilletedAccounts 2023-04-21 2024-04-30 14819639 bus:SmallCompaniesRegimeForAccounts 2023-04-21 2024-04-30 14819639 bus:RegisteredOffice 2023-04-21 2024-04-30 14819639 bus:Director1 2023-04-21 2024-04-30 14819639 bus:PrivateLimitedCompanyLtd 2023-04-21 2024-04-30 14819639 bus:Agent1 2023-04-21 2024-04-30 14819639 core:OtherRelatedParties 2023-04-21 2024-04-30 14819639 countries:England 2023-04-21 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 14819639

Frill Of It Limited

Unaudited Filleted Financial Statements

for the Period from 21 April 2023 to 30 April 2024

 

Frill Of It Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Frill Of It Limited

Company Information

Director

Grace Boyle

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Frill Of It Limited

(Registration number: 14819639)
Balance Sheet as at 30 April 2024

Note

2024
£

Current assets

 

Stocks

4

2,149

Cash at bank and in hand

 

575

 

2,724

Creditors: Amounts falling due within one year

5

(4,918)

Net liabilities

 

(2,194)

Capital and reserves

 

Called up share capital

6

1

Retained earnings

(2,195)

Shareholders' deficit

 

(2,194)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 January 2025
 

.........................................
Grace Boyle
Director

 

Frill Of It Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

These financial statements were authorised for issue by the director on 13 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company's financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its debts as they fall due. However, at the end of the financial year the company has net liabilities of £2,194. Both the director and shareholder believe it is appropriate to prepare the financial statements on a going concern basis, as they agreed to continue to support the company for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and when the service is performed, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

 

Frill Of It Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2023 to 30 April 2024

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Stocks

2024
£

Stocks

2,149

 

Frill Of It Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2023 to 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to related party

7

4,036

Accruals and deferred income

 

882

 

4,918

6

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

1

1

   

7

Related party transactions

Summary of transactions with other related parties

Grace Boyle
(Director/Shareholder)
During the year, the director paid for business expenses personally of £2,539. They also paid £1,642 to the business and received £145 from the business. At the end of the year, the director was owed £4,036.