Micro-entity Accounts - FABRIC AFFAIR LTD

NI624539 FABRIC AFFAIR LTD 2017-05-31 false 2016-06-01 2017-05-31 true NI624539 2016-06-01 2017-05-31 NI624539 2017-05-31 NI624539 2016-05-31 NI624539 uk-gaap-cd-bus:Director1 2016-06-01 2017-05-31 NI624539 uk-gaap-cd-bus:Director2 2016-06-01 2017-05-31 NI624539 uk-gaap-cd-bus:AllEntityOfficers 2016-06-01 2017-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-01 2017-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2017-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 iso4217:GBP shares

Registered Number NI624539

FABRIC AFFAIR LTD

Micro-entity Accounts

31 May 2017

FABRIC AFFAIR LTD Registered Number NI624539

Micro-entity Balance Sheet as at 31 May 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets	1	12,544	14,997
		12,544	14,997
Current assets
Stocks		26,000	20,000
Cash at bank and in hand		4,673	7,628
		30,673	27,628
Creditors: amounts falling due within one year		(44,709)	(34,756)
Net current assets (liabilities)		(14,036)	(7,128)
Total assets less current liabilities		(1,492)	7,869
Creditors: amounts falling due after more than one year		(1,565)	(4,313)
Total net assets (liabilities)		(3,057)	3,556
Capital and reserves
Called up share capital	2	1	1
Profit and loss account		(3,058)	3,555
Shareholders' funds		(3,057)	3,556

For the year ending 31 May 2017 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 February 2018

And signed on their behalf by:
Margaret Lee, Director

FABRIC AFFAIR LTD Registered Number NI624539

Notes to the Micro-entity Accounts for the period ended 31 May 2017

1Tangible fixed assets

	£
Cost
At 1 June 2016	21,425
Additions	895
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2017	22,320
Depreciation
At 1 June 2016	6,428
Charge for the year	3,348
On disposals	-
At 31 May 2017	9,776
Net book values
At 31 May 2017	12,544
At 31 May 2016	14,997

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £	2016 £
1 Ordinary share of £1 each	1	1

3Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: -

Fittings fixtures and equipment - 15% Straight Line

Other accounting policies
There were no related party transactions in the year under review.

The ultimate control of the company rests with the sole director - Margaret Lee.