The Fair Fashion Company Ltd |
Registered Number:06593259 |
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
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
The Fair Fashion Company Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
28,599
7,913
2
28,599
7,913
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
2
2
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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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
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
The presentation currency is £ sterling. |
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: |
Computer equipment
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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For the year ended 31 May 2024
The Fair Fashion Company Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
32,725
9,168
23,557
30,230
458
29,772
53,329
9,626
62,955
Provision for depreciation and impairment |
24,812
5,849
18,963
Charge for year
9,544
431
9,113
34,356
6,280
28,076
25,253
3,346
28,599
4,594
3,319
7,913
2023
2024
41,373
44,303
4. Trade and other receivables |
2023
2024
42,568
35,974
5. Trade and other payables: amounts falling due within one year |
2023
2024
10,000
10,000
(25)
2,986
Taxation and social security |
33,918
16,690
1,300
1,324
45,193
31,000
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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
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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