FUNDAMENTAL FASHIONS LTD - Filleted accounts

Registered number

03537548

FUNDAMENTAL FASHIONS LTD

Filleted Accounts

30 November 2025

FUNDAMENTAL FASHIONS LTD
Registered number:		03537548
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		24,942			26,222

Current assets
Stocks		-			190,757
Debtors	4	27,826			63,724
Cash at bank and in hand		2,821			258,450
		30,647			512,931

Creditors: amounts falling due within one year	5	8,673			(286)

Net current assets			39,320			512,645

Total assets less current liabilities			64,262			538,867

Creditors: amounts falling due after more than one year	6		-			(77,701)



Net assets			64,262			461,166

Capital and reserves
Called up share capital			200			200
Profit and loss account			64,062			460,966

Shareholders' funds			64,262			461,166

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




H. GATEHOUSE
Director
Approved by the board on 7 December 2025

FUNDAMENTAL FASHIONS LTD
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:


	Motopr Vehicle	6 % On Reduced balance
	Plant and machinery	18 % On reduced Balance
	Fixtures, fittings, tools and equipment	18 % On reduced Balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Disclosure
	The company's management have unanimously agreed to cease trading as at 30 November 2025 due to unsustainable and continous losses suffered by the company. The company will therefore, no longer will carry out any trading activities and, will apply for the company to be struck off the company's registrar.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			0		8


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 December 2024	201,821		35,346		237,167
	Additions	195		-		195
	At 30 November 2025	202,016		35,346		237,362

	Depreciation
	At 1 December 2024	200,190		10,755		210,945
	Charge for the year	-		1,475		1,475
	At 30 November 2025	200,190		12,230		212,420

	Net book value
	At 30 November 2025	1,826		23,116		24,942
	At 30 November 2024	1,631		24,591		26,222


4	Debtors			2025		2024
£					£

	Trade debtors			27,826		51,843
	Other debtors			-		11,881
				27,826		63,724


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Taxation and social security costs			(8,673)		-
	Other creditors			-		286
				(8,673)		286


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Trade creditors			-		2,701
	Other creditors			-		75,000
				-		77,701


7	Other information

	FUNDAMENTAL FASHIONS LTD is a private company limited by shares and incorporated in England. Its registered office is: