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REGISTERED NUMBER: 04834452 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

ONLINE FABRICS UK LIMITED

ONLINE FABRICS UK LIMITED (REGISTERED NUMBER: 04834452)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ONLINE FABRICS UK LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTOR: K S Tahim





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 04834452 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

ONLINE FABRICS UK LIMITED (REGISTERED NUMBER: 04834452)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 52,090 52,836

CURRENT ASSETS
Stocks 34,000 30,000
Debtors 5 9,546 9,597
Cash at bank 36,673 55,150
80,219 94,747
CREDITORS
Amounts falling due within one year 6 113,388 133,969
NET CURRENT LIABILITIES (33,169 ) (39,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,921

13,614

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,821 13,514
SHAREHOLDERS' FUNDS 18,921 13,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2025 and were signed by:





K S Tahim - Director


ONLINE FABRICS UK LIMITED (REGISTERED NUMBER: 04834452)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Online Fabrics UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

ONLINE FABRICS UK LIMITED (REGISTERED NUMBER: 04834452)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 49,742 10,751 5,933 66,426
Additions - 1,050 229 1,279
At 31 July 2024 49,742 11,801 6,162 67,705
DEPRECIATION
At 1 August 2023 176 9,292 4,122 13,590
Charge for year 995 526 504 2,025
At 31 July 2024 1,171 9,818 4,626 15,615
NET BOOK VALUE
At 31 July 2024 48,571 1,983 1,536 52,090
At 31 July 2023 49,566 1,459 1,811 52,836

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,054 1,812
Directors' current accounts 6,492 7,785
9,546 9,597

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 55,107 92,788
Tax 15,750 10,489
Social security and other taxes 795 256
Pensions payable 330 323
VAT 13,997 3,411
Other creditors 3,409 1,014
Accrued expenses 24,000 25,688
113,388 133,969

ONLINE FABRICS UK LIMITED (REGISTERED NUMBER: 04834452)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
K S Tahim
Balance outstanding at start of year 7,785 3,740
Amounts advanced - 4,045
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,785