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Company Registration No. 08080332 (England and Wales)
Fast Lane Styling Europe Limited Unaudited accounts for the year ended 31 May 2025
Fast Lane Styling Europe Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Fast Lane Styling Europe Limited Company Information for the year ended 31 May 2025
Directors
Abul Foyez Habibur Rahman
Company Number
08080332 (England and Wales)
Registered Office
Unit 895 High Road Romford RM6 4HL
Accountants
Anthony Daniel Associates Ltd 10 Julian Place London E14 3AT
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Fast Lane Styling Europe Limited Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
38,001
51,470
Current assets
Inventories
573,308
424,000
Debtors
5
591,283
581,828
Cash at bank and in hand
375,073
520,422
1,539,664
1,526,250
Creditors: amounts falling due within one year
6
(410,925)
(389,498)
Net current assets
1,128,739
1,136,752
Net assets
1,166,740
1,188,222
Capital and reserves
Called up share capital
7
4
4
Profit and loss account
1,166,736
1,188,218
Shareholders' funds
1,166,740
1,188,222
For the year ending 31 May 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2026 and were signed on its behalf by
Habibur Rahman Director Company Registration No. 08080332
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Fast Lane Styling Europe Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Fast Lane Styling Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 08080332. The registered office is Unit 895, High Road, Romford, RM6 4HL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
25% on cost
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Fast Lane Styling Europe Limited Notes to the Accounts for the year ended 31 May 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2024
6,524
150,276
75,466
22,840
255,106
Additions
-
-
1,300
1,401
2,701
At 31 May 2025
6,524
150,276
76,766
24,241
257,807
Depreciation
At 1 June 2024
-
118,579
65,336
19,721
203,636
Charge for the year
-
11,283
2,849
2,038
16,170
At 31 May 2025
-
129,862
68,185
21,759
219,806
Net book value
At 31 May 2025
6,524
20,414
8,581
2,482
38,001
At 31 May 2024
6,524
31,697
10,130
3,119
51,470
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
4,342
4,031
Accrued income and prepayments
45,551
36,407
Other debtors
541,390
541,390
591,283
581,828
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
144,064
88,069
Taxes and social security
59,428
134,217
Other creditors
4,387
11,039
Loans from directors
193,484
147,810
Accruals
9,562
8,363
410,925
389,498
7
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
8
Transactions with related parties
The aggregate amount of dividends paid in the year was £80,000 (2024 : £120,000).
9
Average number of employees
During the year the average number of employees was 24 (2024: 24).
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