Fundamental Textiles Ltd,Ltd - AccountsLtd - Accounts

Fundamental Textiles Ltd,Ltd - AccountsLtd - Accounts

FUNDAMENTAL TEXTILES LIMITED - Company Information

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2020-09-01 07246903 2021-08-31 07246903 2020-09-01 2021-08-31 07246903 2020-08-31 07246903 2019-06-01 2020-08-31 07246903 uk-core:WithinOneYear 2020-08-31 07246903 uk-core:WithinOneYear 2021-08-31 07246903 uk-core:AfterOneYear 2020-08-31 07246903 uk-core:AfterOneYear 2021-08-31 07246903 uk-core:ShareCapital 2021-08-31 07246903 uk-core:ShareCapital 2020-08-31 07246903 uk-core:RetainedEarningsAccumulatedLosses 2021-08-31 07246903 uk-core:RetainedEarningsAccumulatedLosses 2020-08-31 07246903 uk-bus:Director1 2020-09-01 2021-08-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2020-08-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2020-08-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2021-08-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2021-08-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2020-09-01 2021-08-31 07246903 uk-core:AfterOneYear uk-core:Secured 2021-08-31 07246903 uk-core:AfterOneYear uk-core:Secured 2020-08-31 iso4217:GBP xbrli:pure 07246903 uk-bus:AuditExemptWithAccountantsReport 2020-09-01 2021-08-31 07246903 uk-bus:FRS102 2020-09-01 2021-08-31 07246903 uk-bus:FullAccounts 2020-09-01 2021-08-31 07246903 uk-bus:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31
Fundamental Textiles Ltd
Registered Number:07246903
For the year ended 31 August 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 August 2021
Fundamental Textiles Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
07246903
As at 31 August 2021
Fundamental Textiles Ltd
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
79,711
49,333
2
79,711
49,333
Current assets
Inventories
16,886
14,664
3
Trade and other receivables
54,947
55,345
4
283,245
Cash and cash equivalents
307,830
377,839
355,078
Trade and other payables: amounts falling due within one
year
(88,241)
(69,048)
5
266,837
308,791
Net current assets
Total assets less current liabilities
388,502
316,170
Trade and other payables: amounts falling due after more
than one year
(50,000)
(47,194)
6
(13,949)
(7,914)
Provisions for liabilities
327,359
Net assets
258,256
Capital and reserves
Called up share capital
50
50
Retained earnings
327,309
258,206
327,359
258,256
Shareholders' funds
For the year ended 31 August 2021 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 of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mirha Wasim Director
These financial statements were approved and authorised for issue by the Board on 18 May 2022 and were signed by:
1 of 4
4
Registered Number :
07246903
For the year ended 31 August 2021
Fundamental Textiles Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 4
5
For the year ended 31 August 2021
Fundamental Textiles Ltd
Notes to the Financial Statements
Statutory Information
Fundamental Textiles Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07246903.
Registered address:
19 Stanley Street
Manchester
M8 8SH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 September 2020
90,410
51,529
38,881
39,235
-
39,235
Additions
At 31 August 2021
78,116
51,529
129,645
Provision for depreciation and impairment
At 01 September 2020
41,077
30,803
10,274
Charge for year
8,857
2,073
6,784
At 31 August 2021
49,934
32,876
17,058
At 31 August 2021
Net book value
61,058
18,653
79,711
At 31 August 2020
28,607
20,726
49,333
3. Inventories
2020
2021
£
£
Stocks
14,664
16,886
3 of 4
6
For the year ended 31 August 2021
Fundamental Textiles Ltd
Notes to the Financial Statements Continued
4. Trade and other receivables
2020
2021
£
£
Trade debtors
45,345
45,096
Other debtors
10,000
9,851
54,947
55,345
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
24,531
12,956
Taxation and social security
36,205
70,264
Other creditors
8,312
5,021
69,048
88,241
6. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft
47,194
50,000
7. Average number of persons employed
During the year the average number of employees was 9 (2020 : 9)
4 of 4