Company Registration No. SC509131 (Scotland)
Frontiers Menswear Ltd
Unaudited accounts
for the year ended 30 June 2023
Frontiers Menswear Ltd
Unaudited accounts
Contents
Frontiers Menswear Ltd
Company Information
for the year ended 30 June 2023
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 2023
Tangible assets
49,990
42,055
Inventories
158,633
102,635
Cash at bank and in hand
113,658
145,952
Creditors: amounts falling due within one year
(106,034)
(132,102)
Net current assets
178,757
128,985
Total assets less current liabilities
228,747
171,040
Creditors: amounts falling due after more than one year
(20,000)
(30,000)
Net assets
208,747
141,040
Called up share capital
100
100
Profit and loss account
208,647
140,940
Shareholders' funds
208,747
141,040
For the year ending 30 June 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 21 February 2024 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 2023
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 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2022
12,230
68,016
80,246
Disposals
(12,230)
-
(12,230)
At 30 June 2023
-
83,156
83,156
At 1 July 2022
13,341
24,850
38,191
Charge for the year
(1,112)
8,316
7,204
On disposals
(12,229)
-
(12,229)
At 30 June 2023
-
33,166
33,166
At 30 June 2023
-
49,990
49,990
At 30 June 2022
(1,111)
43,166
42,055
Amounts falling due within one year
Other debtors
12,500
12,500
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
3,995
13,668
Taxes and social security
16,587
15,027
Loans from directors
49,500
73,000
8
Creditors: amounts falling due after more than one year
2023
2022
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 4 (2022: 4).
