2023-06-01 06593259 2024-05-31 06593259 2023-06-01 2024-05-31 06593259 2023-05-31 06593259 2022-06-01 2023-05-31 06593259 uk-core:WithinOneYear 2023-05-31 06593259 uk-core:WithinOneYear 2024-05-31 06593259 uk-core:AfterOneYear 2023-05-31 06593259 uk-core:AfterOneYear 2024-05-31 06593259 uk-core:ShareCapital 2024-05-31 06593259 uk-core:ShareCapital 2023-05-31 06593259 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 06593259 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 06593259 uk-bus:Director1 2023-06-01 2024-05-31 06593259 uk-core:ToolsEquipment 2023-06-01 2024-05-31 06593259 uk-core:FurnitureFittings 2023-06-01 2024-05-31 06593259 uk-core:ToolsEquipment 2023-05-31 06593259 uk-core:FurnitureFittings 2023-05-31 06593259 uk-core:FurnitureFittings 2024-05-31 06593259 uk-core:ToolsEquipment 2024-05-31 06593259 uk-core:WithinOneYear 2024-05-31 06593259 uk-core:WithinOneYear 2023-05-31 06593259 uk-core:AfterOneYear uk-core:Secured 2024-05-31 06593259 uk-core:AfterOneYear uk-core:Secured 2023-05-31 iso4217:GBP xbrli:pure 06593259 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06593259 uk-bus:FRS102 2023-06-01 2024-05-31 06593259 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 06593259 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
The Fair Fashion Company Ltd
Registered Number:06593259
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
The Fair Fashion Company Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
06593259
As at 31 May 2024
The Fair Fashion Company Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
28,599
7,913
2
28,599
7,913
Current assets
Inventories
44,303
41,373
3
Trade and other receivables
35,974
42,568
4
157,799
Cash and cash equivalents
163,938
247,879
238,076
Trade and other payables: amounts falling due within one
year
(31,000)
(45,193)
5
207,076
202,686
Net current assets
Total assets less current liabilities
231,285
214,989
Trade and other payables: amounts falling due after more
than one year
(29,167)
(19,167)
6
212,118
Net assets
185,822
Capital and reserves
Called up share capital
2
2
Retained earnings
212,116
185,820
212,118
185,822
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Timothy Andrew Douglas Director
These financial statements were approved and authorised for issue by the Board on 20 February 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
The Fair Fashion Company Ltd
Notes to the Financial Statements
Statutory Information
The Fair Fashion Company Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 06593259.
Principal place of business:
9A Bartlett Street
Bath
BA1 2QZ
Registered address:
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
10% Straight line
Computer equipment
25% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 May 2024
The Fair Fashion Company Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 June 2023
32,725
9,168
23,557
30,230
458
29,772
Additions
At 31 May 2024
53,329
9,626
62,955
Provision for depreciation and impairment
At 01 June 2023
24,812
5,849
18,963
Charge for year
9,544
431
9,113
At 31 May 2024
34,356
6,280
28,076
At 31 May 2024
Net book value
25,253
3,346
28,599
At 31 May 2023
4,594
3,319
7,913
3. Inventories
2023
2024
£
£
Stocks
41,373
44,303
4. Trade and other receivables
2023
2024
£
£
Trade debtors
42,568
35,974
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
10,000
10,000
Trade creditors
(25)
2,986
Taxation and social security
33,918
16,690
Other creditors
1,300
1,324
45,193
31,000
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6
For the year ended 31 May 2024
The Fair Fashion Company Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
19,167
29,167
7. Average number of persons employed
During the year the average number of employees was 6 (2023 : 6)
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