IZABELLA FASHIONS LIMITED

IZABELLA FASHIONS LIMITED

IZABELLA FASHIONS LIMITED - Company Information

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IZABELLA FASHIONS LIMITED

Company Registration Number:
06039190 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

IZABELLA FASHIONS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

IZABELLA FASHIONS LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Current assets
Stocks: 0 311,901
Debtors:   212,850 332,268
Cash at bank and in hand: 108,706 31,547
Total current assets: 321,556 675,716
Creditors: amounts falling due within one year: 3 (405,732) (700,014)
Net current assets (liabilities): (84,176) (24,298)
Total assets less current liabilities: (84,176) (24,298)
Creditors: amounts falling due after more than one year:   (14,632) (16,162)
Total net assets (liabilities): (98,808) (40,460)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (98,908) (40,560)
Shareholders funds: (98,808) (40,460)

The notes form part of these financial statements

IZABELLA FASHIONS LIMITED

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 September 2021
and signed on behalf of the board by:

Name: R S Nasirli
Status: Director

The notes form part of these financial statements

IZABELLA FASHIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the amounts (excluding value added tax) derived from the provision goods and services to customers during the year.

Other accounting policies

STOCKS: Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock. Cost includes all direct costs.GOING CONCERN: The financial statements have been prepared on the going concern basis, the validity of which depends upon the continued support of creditors and a loan from the director, which have financed the losses made by the company.

IZABELLA FASHIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 3 3

IZABELLA FASHIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Creditors: amounts falling due within one year note

Trade Creditors: 391,173 (2019: 685,184)Accruals and deferred income: 14557 (2019: 14,828)Other Creditors: 2 (2019: 2)

IZABELLA FASHIONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Related party transactions

The director, R S Nasirli, is a director and shareholder of Modanasirli Teks. San. Toc. Ltd. STI (Turkey) from whom the company bought goods to the value of £508,711 (2019: £1,007,620) on normal commercial terms. At the balance sheet date £380,073 (2019: £640,730) was owed by the Company.The director, R S Nasirli, is a director of Ella Boo Limited (Eire), to whom the company sold goods to the value of £Nil (2019: £25,739) on normal commercial terms. At the balance sheet date £Nil (2019: £Nil) was owed to the Company. Controlling Party: The controlling party is R S Nasirli by virtue of his ownership of 100% of the issued ordinary share capital of the company.