Company Registration No. SC509131 (Scotland)
Frontiers Menswear Ltd
Unaudited accounts
for the year ended 30 June 2017
Frontiers Menswear Ltd
Unaudited accounts
Contents
Frontiers Menswear Ltd
Company Information
for the year ended 30 June 2017
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 2017
Intangible assets
5,723
7,200
Tangible assets
18,865
21,545
Cash at bank and in hand
8,719
7,796
Creditors: amounts falling due within one year
(123,511)
(98,241)
Net current liabilities
(53,196)
(53,841)
Net liabilities
(28,608)
(25,096)
Called up share capital
100
100
Profit and loss account
(28,708)
(25,196)
Shareholders' funds
(28,608)
(25,096)
For the year ending 30 June 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 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.
Approved by the Board on 28 March 2018.
Nigel Pashley
Director
Company Registration No. SC509131
Frontiers Menswear Ltd
Notes to the Accounts
for the year ended 30 June 2017
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.
These financial statements for the year ended 30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 23 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
Frontiers Menswear Ltd
Notes to the Accounts
for the year ended 30 June 2017
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2016
4,202
20,203
24,405
At 30 June 2017
4,427
20,203
24,630
At 1 July 2016
840
2,020
2,860
Charge for the year
885
2,020
2,905
At 30 June 2017
1,725
4,040
5,765
At 30 June 2017
2,702
16,163
18,865
At 30 June 2016
3,362
18,183
21,545
Finished goods
60,000
35,000
Frontiers Menswear Ltd
Notes to the Accounts
for the year ended 30 June 2017
8
Creditors: amounts falling due within one year
2017
2016
Trade creditors
8,000
9,842
Taxes and social security
6,672
3,399
Loans from directors
105,498
85,000
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 1 (2016: 1).
