Frontiers Menswear Ltd

Frontiers Menswear Ltd

FRONTIERS MENSWEAR LTD - Company Information

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1 July 2019 false No description of principal activity Taxfiler 2020.15 SC509131business:PrivateLimitedCompanyLtd2019-07-012020-06-30 SC5091312019-06-30 SC5091312019-07-012020-06-30 SC509131business:AuditExemptWithAccountantsReport2019-07-012020-06-30 SC509131business:FullAccounts2019-07-012020-06-30 SC5091312020-06-30 SC509131business:Director12019-07-012020-06-30 SC509131business:RegisteredOffice2019-07-012020-06-30 SC5091312019-06-30 SC509131core:WithinOneYear2020-06-30 SC509131core:WithinOneYear2019-06-30 SC509131core:AfterOneYear2020-06-30 SC509131core:AfterOneYear2019-06-30 SC509131core:ShareCapital2020-06-30 SC509131core:ShareCapital2019-06-30 SC509131core:RetainedEarningsAccumulatedLosses2020-06-30 SC509131core:RetainedEarningsAccumulatedLosses2019-06-30 SC509131business:SmallEntities2019-07-012020-06-30 SC509131countries:Scotland2019-07-012020-06-30 SC509131core:PlantMachinery2019-07-012020-06-30 SC509131core:FurnitureFittings2019-07-012020-06-30 SC509131core:IntangibleAssetsOtherThanGoodwill2019-06-30 SC509131core:IntangibleAssetsOtherThanGoodwill2020-06-30 SC509131core:IntangibleAssetsOtherThanGoodwill2019-07-012020-06-30 SC509131core:PlantMachinery2019-06-30 SC509131core:FurnitureFittings2019-06-30 SC509131core:PlantMachinery2020-06-30 SC509131core:FurnitureFittings2020-06-30 SC509131business:OrdinaryShareClass12019-07-012020-06-30 SC509131business:OrdinaryShareClass12018-07-012019-06-30 SC5091312018-07-012019-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC509131 (Scotland)
Frontiers Menswear Ltd Unaudited accounts for the year ended 30 June 2020
Frontiers Menswear Ltd Unaudited accounts Contents
Page
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Frontiers Menswear Ltd Company Information for the year ended 30 June 2020
Director
Nigel Pashley
Company Number
SC509131 (Scotland)
Registered Office
16 STAFFORD STREET EDINBURGH EH3 7AU UNITED KINGDOM
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Frontiers Menswear Ltd Statement of financial position as at 30 June 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
80 
1,961 
Tangible assets
5
33,252 
30,297 
33,332 
32,258 
Current assets
Inventories
6
105,714 
87,938 
Debtors
7
15,048 
12,500 
Cash at bank and in hand
43,843 
13,753 
164,605 
114,191 
Creditors: amounts falling due within one year
8
(117,066)
(137,892)
Net current assets/(liabilities)
47,539 
(23,701)
Total assets less current liabilities
80,871 
8,557 
Creditors: amounts falling due after more than one year
9
(50,000)
- 
Net assets
30,871 
8,557 
Capital and reserves
Called up share capital
10
100 
100 
Profit and loss account
30,771 
8,457 
Shareholders' funds
30,871 
8,557 
For the year ending 30 June 2020 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 director acknowledges his 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 and authorised for issue on 1 February 2021 and were signed on its behalf by
Nigel Pashley Director Company Registration No. SC509131
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Frontiers Menswear Ltd Notes to the Accounts for the year ended 30 June 2020
1
Statutory information
Frontiers Menswear Ltd is a private company, limited by shares, registered in Scotland, registration number SC509131. The registered office is 16 STAFFORD STREET, EDINBURGH, EH3 7AU, UNITED KINGDOM.
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
10% on a straight line basis
Fixtures & fittings
20% on a straight line basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2019
9,404 
At 30 June 2020
9,404 
Amortisation
At 1 July 2019
7,443 
Charge for the year
1,881 
At 30 June 2020
9,324 
Net book value
At 30 June 2020
80 
At 30 June 2019
1,961 
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Frontiers Menswear Ltd Notes to the Accounts for the year ended 30 June 2020
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2019
12,230 
33,478 
45,708 
Additions
- 
9,721 
9,721 
At 30 June 2020
12,230 
43,199 
55,429 
Depreciation
At 1 July 2019
6,003 
9,408 
15,411 
Charge for the year
2,446 
4,320 
6,766 
At 30 June 2020
8,449 
13,728 
22,177 
Net book value
At 30 June 2020
3,781 
29,471 
33,252 
At 30 June 2019
6,227 
24,070 
30,297 
6
Inventories
2020 
2019 
£ 
£ 
Finished goods
105,714 
87,938 
105,714 
87,938 
7
Debtors
2020 
2019 
£ 
£ 
Other debtors
15,048 
12,500 
8
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
VAT
6,002 
- 
Trade creditors
18,602 
9,165 
Taxes and social security
2,394 
17,535 
Loans from directors
90,068 
111,192 
117,066 
137,892 
9
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
50,000 
- 
10
Share capital
2020 
2019 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Average number of employees
During the year the average number of employees was 3 (2019: 2).
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