Company Registration No. SC509131 (Scotland)
Frontiers Menswear Ltd
Unaudited accounts
for the year ended 30 June 2021
Frontiers Menswear Ltd
Unaudited accounts
Contents
Frontiers Menswear Ltd
Company Information
for the year ended 30 June 2021
Company Number
SC509131 (Scotland)
Registered Office
16 STAFFORD STREET
EDINBURGH
EH3 7AU
UNITED KINGDOM
Frontiers Menswear Ltd
Statement of financial position
as at 30 June 2021
Intangible assets
1,672
80
Tangible assets
26,486
33,252
Inventories
126,617
105,714
Cash at bank and in hand
77,720
43,843
Creditors: amounts falling due within one year
(121,799)
(117,066)
Net current assets
95,038
47,539
Total assets less current liabilities
123,196
80,871
Creditors: amounts falling due after more than one year
(50,000)
(50,000)
Called up share capital
100
100
Profit and loss account
73,096
30,771
Shareholders' funds
73,196
30,871
For the year ending 30 June 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 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 8 February 2022 and were signed on its behalf by
Nigel Pashley
Director
Company Registration No. SC509131
Frontiers Menswear Ltd
Notes to the Accounts
for the year ended 30 June 2021
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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
Frontiers Menswear Ltd
Notes to the Accounts
for the year ended 30 June 2021
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2020
12,230
43,199
55,429
At 30 June 2021
12,230
43,199
55,429
At 1 July 2020
8,449
13,728
22,177
Charge for the year
2,446
4,320
6,766
At 30 June 2021
10,895
18,048
28,943
At 30 June 2021
1,335
25,151
26,486
At 30 June 2020
3,781
29,471
33,252
6
Debtors: amounts falling due within one year
2021
2020
Other debtors
12,500
15,048
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
18,875
18,602
Taxes and social security
12,782
2,394
Loans from directors
70,568
90,068
8
Creditors: amounts falling due after more than one year
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 3 (2020: 3).
