FAZALS LIMITED - Accounts

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Registered Number: 05707400

England and Wales

FAZALS LIMITED

Abridged Accounts

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

FAZALS LIMITED
Contents Page
For the year ended 28 February 2023

Statement of financial position	1
Notes to the financial statements	2

FAZALS LIMITED
Statement of Financial Position
As at 28 February 2023

	Notes	2023 £	2022 £
Current assets
Stocks		900	750
Cash at bank and in hand		159	1,434
		1,059	2,184
Creditors: amount falling due within one year		(5,466)	(7,779)
Net current liabilities		(4,407)	(5,595)

Total assets less current liabilities		(4,407)	(5,595)
Creditors: amount falling due after more than one year		(4,092)	(5,100)
Net liabilities		(8,499)	(10,695)

Capital and reserves
Called up share capital	4	100	100
Profit and loss account		(8,599)	(10,795)
Shareholder's funds		(8,499)	(10,695)

For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

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

The financial statements were approved by the director on 28 November 2023 and were signed by:

-------------------------------
Perwaiz AHMAD
Director

FAZALS LIMITED
Notes to the Abridged Financial Statements
For the year ended 28 February 2023

General Information

FAZALS LIMITED is a private company, limited by shares, registered in England, registration number 05707400, registration address 79 Fusion Court Broadmeads, Ware, SG12 9EJ

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.

Cost of sales

Cost of sales comprises the invoiced value of goods and services purchased by the company, net of trade discounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the Profit Loss Account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the Profit Loss Account as the related expenditure is incurred.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Staff Costs

	2023 £	2022 £
Wages and salaries	12,190	12,000
Pension costs, defined contribution plan	476	403
	12,666	12,403

Average number of employees during the year	Number	Number
Administration	1	1
	1	1

3.	Average number of employees Average number of employees during the year was 1 (2022 : 1).

Share Capital

Allotted, called up and fully paid	2023 £		2022 £
100 Class A shares of £1.00 each	100		100
	100		100