Candice Fragis Ltd
Candice Fragis Ltd
Registered number: 11807620
Unaudited Financial Statements
For The Year Ended
31 January 2022
March Mutual Ltd
F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Candice Fragis Ltd
Unaudited Financial Statements
For The Year Ended
31 January 2022
Unaudited Financial Statements
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| Accountants' Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
Candice Fragis Ltd
Accountants' Report
For The Year Ended
31 January 2022
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of
Candice Fragis Ltd
For The Year Ended 31 January 2022
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Candice Fragis Ltd
which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of
Candice Fragis Ltd
, as a body, in accordance with the terms of our engagement letter dated 15 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of
Candice Fragis Ltd
and state those matters that we have agreed to state to the director of
Candice Fragis Ltd
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Candice Fragis Ltd
and its director as a body for our work or for this report.
It is your duty to ensure that
Candice Fragis Ltd
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Candice Fragis Ltd
. You consider that
Candice Fragis Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of
Candice Fragis Ltd
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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F25 Waterfront Studios
1 Dock Road
London
E16 1AH
Candice Fragis Ltd
Balance Sheet
As at
31 January 2022
Balance Sheet
Registered number:
11807620
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
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| Investments | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 66,214 | 19,025 | |||
Candice Fragis Ltd
Balance Sheet (continued)
As at
31 January 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 6 form part of these financial statements.
Candice Fragis Ltd
Notes to the Financial Statements
For The Year Ended
31 January 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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 is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2021: NIL)
Candice Fragis Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
3.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
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| Depreciation | |||
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| Net Book Value | |||
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4.
Current Asset Investments
| 2022 | 2021 | ||
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| £ | £ | ||
| Unlisted investments | 150,000 | 170,000 | |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| Net obligations under finance lease and hire purchase contracts |
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| Corporation tax |
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| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
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| Net obligations under finance lease and hire purchase contracts |
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| Other creditors |
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Candice Fragis Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
7.
Obligations Under Finance Leases and Hire Purchase
| 2022 | 2021 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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