Fundamental Textiles Ltd,Ltd - AccountsLtd - Accounts

Fundamental Textiles Ltd,Ltd - AccountsLtd - Accounts


2016-06-01 07246903 2017-05-31 07246903 2016-06-01 2017-05-31 07246903 2016-05-31 07246903 2015-06-01 2016-05-31 07246903 uk-core:WithinOneYear 2016-05-31 07246903 uk-core:WithinOneYear 2017-05-31 07246903 uk-core:ShareCapital 2017-05-31 07246903 uk-core:ShareCapital 2016-05-31 07246903 uk-core:RetainedEarningsAccumulatedLosses 2017-05-31 07246903 uk-core:RetainedEarningsAccumulatedLosses 2016-05-31 07246903 uk-bus:Director1 2016-06-01 2017-05-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2016-05-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2016-05-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2016-06-01 2017-05-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2017-05-31 07246903 uk-core:FurnitureFittings uk-core:OwnedOrFreeholdAssets 2017-05-31 07246903 uk-core:PlantMachinery uk-core:OwnedOrFreeholdAssets 2016-06-01 2017-05-31 iso4217:GBP 07246903 uk-bus:AuditExemptWithAccountantsReport 2016-06-01 2017-05-31 07246903 uk-bus:FRS102 2016-06-01 2017-05-31 07246903 uk-bus:FullAccounts 2016-06-01 2017-05-31 07246903 uk-bus:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31
Fundamental Textiles Ltd
Registered Number:07246903
For the year ended 31 May 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2017
Fundamental Textiles Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 May 2017
Fundamental Textiles Ltd
Statement of Financial Position
Registered Number :
07246903
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
30,205
25,392
2
30,205
25,392
Current assets
Inventories
3,460
5,284
3
Trade and other receivables
11,989
34,916
4
23,324
Cash and cash equivalents
78,054
118,254
38,773
Trade and other payables: amounts falling due within one
year
(345,435)
(297,536)
5
(306,662)
(179,282)
Net current liabilities
Total assets less current liabilities
(149,077)
(281,270)
(3,304)
-
Provisions for liabilities
(152,381)
Net liabilities
(281,270)
Capital and reserves
Called up share capital
50
50
Retained earnings
(152,431)
(281,320)
(152,381)
(281,270)
Shareholders' funds
For the year ended 31 May 2017 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 of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr Muhammad Wasim Chaudhry Director
These financial statements were approved and authorised for issue by the Board on 21 February 2018 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 May 2017
Fundamental Textiles Ltd
Notes to the Financial Statements
Statutory Information
Fundamental Textiles Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07246903.
Registered address:
19 Stanley Street
Manchester
M8 8SH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 June 2016
46,055
46,055
-
8,169
2,287
5,882
Additions
At 31 May 2017
5,882
48,342
54,224
Provision for depreciation and impairment
At 01 June 2016
20,663
20,663
-
Charge for year
3,356
2,768
588
At 31 May 2017
24,019
23,431
588
At 31 May 2017
Net book value
5,294
24,911
30,205
At 31 May 2016
-
25,392
25,392
3. Inventories
2016
2017
£
£
Stocks
5,284
3,460
2 of 3
5
For the year ended 31 May 2017
Fundamental Textiles Ltd
Notes to the Financial Statements Continued
4. Trade and other receivables
2016
2017
£
£
Trade debtors
34,916
2,120
Other debtors
-
9,869
11,989
34,916
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
17,635
22,041
Taxation and social security
18,685
4,254
Other creditors
261,216
319,140
297,536
345,435
3 of 3