FASHION X FACTOR LIMITED

FASHION X FACTOR LIMITED

FASHION X FACTOR LIMITED - Company Information

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Company Registration No. 05668262 (England and Wales)
FASHION X FACTOR LIMITED Unaudited accounts for the year ended 31 March 2023
FASHION X FACTOR LIMITED Unaudited accounts Contents
Page
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FASHION X FACTOR LIMITED Company Information for the year ended 31 March 2023
Director
Ashish Gupta
Company Number
05668262 (England and Wales)
Registered Office
87 KINGSHILL DRIVE HARROW HA3 8QQ ENGLAND
Accountants
EQUIFIN ACCOUNTANCY LTD 87 Kingshill drive Harrow Middlesex HA3 8QQ
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FASHION X FACTOR LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
32,985 
41,292 
Current assets
Inventories
215,435 
160,054 
Debtors
5
23,190 
85,728 
Cash at bank and in hand
41,377 
30,770 
280,002 
276,552 
Creditors: amounts falling due within one year
6
(125,738)
(119,862)
Net current assets
154,264 
156,690 
Total assets less current liabilities
187,249 
197,982 
Creditors: amounts falling due after more than one year
7
(46,248)
(51,891)
Provisions for liabilities
Other provisions
(9,675)
(9,675)
Net assets
131,326 
136,416 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
131,226 
136,316 
Shareholders' funds
131,326 
136,416 
For the year ending 31 March 2023 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 31 July 2023 and were signed on its behalf by
Ashish Gupta Director Company Registration No. 05668262
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FASHION X FACTOR LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
FASHION X FACTOR LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05668262. The registered office is 87 KINGSHILL DRIVE, HARROW, HA3 8QQ, ENGLAND.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
45,779 
13,812 
59,591 
Additions
- 
2,688 
2,688 
At 31 March 2023
45,779 
16,500 
62,279 
Depreciation
At 1 April 2022
9,156 
9,143 
18,299 
Charge for the year
9,156 
1,839 
10,995 
At 31 March 2023
18,312 
10,982 
29,294 
Net book value
At 31 March 2023
27,467 
5,518 
32,985 
At 31 March 2022
36,623 
4,669 
41,292 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,190 
15,728 
Other debtors
10,000 
70,000 
23,190 
85,728 
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FASHION X FACTOR LIMITED Notes to the Accounts for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,648 
16,764 
VAT
29,842 
25,031 
Obligations under finance leases and hire purchase contracts
11,883 
- 
Trade creditors
59,188 
62,215 
Taxes and social security
9,318 
12,269 
Other creditors
- 
1,368 
Loans from directors
2,499 
415 
Accruals
2,360 
1,800 
125,738 
119,862 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,812 
51,891 
Obligations under finance leases and hire purchase contracts
20,436 
- 
46,248 
51,891 
Bank Loan includes unsecured Bounce back Loan from HSBC.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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