Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseFashion industry promotion11falsetruefalse 06736988 2023-05-01 2024-04-30 06736988 2022-05-01 2023-04-30 06736988 2024-04-30 06736988 2023-04-30 06736988 c:Director1 2023-05-01 2024-04-30 06736988 d:FurnitureFittings 2023-05-01 2024-04-30 06736988 d:FurnitureFittings 2024-04-30 06736988 d:FurnitureFittings 2023-04-30 06736988 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06736988 d:CurrentFinancialInstruments 2024-04-30 06736988 d:CurrentFinancialInstruments 2023-04-30 06736988 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06736988 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06736988 d:ShareCapital 2024-04-30 06736988 d:ShareCapital 2023-04-30 06736988 d:RetainedEarningsAccumulatedLosses 2024-04-30 06736988 d:RetainedEarningsAccumulatedLosses 2023-04-30 06736988 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06736988 c:OrdinaryShareClass1 2024-04-30 06736988 c:FRS102 2023-05-01 2024-04-30 06736988 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 06736988 c:FullAccounts 2023-05-01 2024-04-30 06736988 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06736988 2 2023-05-01 2024-04-30 06736988 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06736988














FASHION EAST (OTB) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  30 APRIL 2024

 
FASHION EAST (OTB) LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
FASHION EAST (OTB) LIMITED
REGISTERED NUMBER:06736988

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
  
4,275
6,139

Current assets
  

Debtors: amounts falling due within one year
 5 
115,700
135,694

Cash at bank and in hand
  
32,137
68,404

  
147,837
204,098

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(157,763)
(222,679)

Net current liabilities
  
 
 
(9,926)
 
 
(18,581)

  

Net liabilities
  
(5,651)
(12,442)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(5,751)
(12,542)

  
(5,651)
(12,442)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




J Zeloof
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
FASHION EAST (OTB) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Fashion East (OTB) Limited is a private limited liability company registered in England and Wales, with its registered office and business address at 91 Brick Lane, London, E1 6QL.
The principal activity of the company is that of promoting the fashion industry to young designers by assisting them to obtain sponsorships, by way of bursaries and show-casting their collections.
The financial statements are presented in Sterling (£), which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company has net current liabilities and net liabilities. The controlling party has confirmed that he has the ability and will continue to provide financial support to the company so that it will be able to meet its financial obligations as and when they fall due. Therefore the accounts have been prepared under the going concern basis.

 
2.3

Turnover

Turnover comprises of sponsorship monies and grants receivable from enterprises within the fashion industry. They are recognised when the sponsorship event occurs and can be reliably measured. 

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 
FASHION EAST (OTB) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:

Fixtures, fittings and equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
1. The recognition of deferred tax assets is limited to the extent that it is probable that they will             be recovered against the reversal of deferred tax liabilities or other future taxable profits; and 
2. Any deferred tax balances are reversed if and when all conditions for retaining associated tax            allowances have been met
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.7

Bursaries payable

Bursaries are payable to young designers to assist in the promotion of the fashion industry and are accounted for when paid. 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
FASHION EAST (OTB) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost 


At 1 May 2023
12,609



At 30 April 2024

12,609



Depreciation


At 1 May 2023
6,470


Charge for the year on owned assets
1,864



At 30 April 2024

8,334



Net book value



At 30 April 2024
4,275



At 30 April 2023
6,139


5.


Debtors

2024
2023
£
£


Trade debtors
-
31,680

Other debtors
15,296
-

Prepayments and accrued income
100,404
104,014

115,700
135,694



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
155,288
192,190

Taxation and social security
-
3,239

Other creditors
-
6,000

Accruals and deferred income
2,475
21,250

157,763
222,679


Page 4

 
FASHION EAST (OTB) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


 
Page 5