One Star Fashion Limited - Period Ending 2015-03-31

Registration number: 07015701

One Star Fashion Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

One Star Fashion Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

One Star Fashion Limited
(Registration number: 07015701)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,156			2,874
Current assets
Stocks					9,640			35,238
Debtors					10,866			1,861
Cash at bank and in hand					52,312			30,898
					72,818			67,997
Creditors: Amounts falling due within one year					(72,355)			(77,260)
Net current assets/(liabilities)					463			(9,263)
Net assets/(liabilities)					2,619			(6,389)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,519			(6,489)
Shareholders' funds/(deficit)					2,619			(6,389)

For the year ending 31 March 2015 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 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 in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 30 December 2015

.........................................
Mr Alessandro A Armillotta
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

One Star Fashion Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.In the opinion of the director, he will continue to financially support the company in the foreseeable future to meet the liabilities as they fall due.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% per annum on reducing balance
Office equipment	25% per annum on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

One Star Fashion Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		4,935			4,935
At 31 March 2015		4,935			4,935
Depreciation
At 1 April 2014		2,061			2,061
Charge for the year		718			718
At 31 March 2015		2,779			2,779
Net book value
At 31 March 2015		2,156			2,156
At 31 March 2014		2,874			2,874

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 3