Fine Lingerie Limited - Accounts to registrar (filleted) - small 18.2

Fine Lingerie Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 07533218(England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

FINE LINGERIE LIMITED

FINE LINGERIE LIMITED (REGISTERED NUMBER: 07533218)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FINE LINGERIE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2019







DIRECTOR: B Hurd





SECRETARY: Mrs G Hurd





REGISTERED OFFICE: 35 Oxford Road
Altrincham
Cheshire
WA14 2ED





REGISTERED NUMBER: 07533218(England and Wales)

FINE LINGERIE LIMITED (REGISTERED NUMBER: 07533218)

BALANCE SHEET
28 FEBRUARY 2019

28/2/19 28/2/18
Notes £    £   
CURRENT ASSETS
Stocks 8,754 8,886
Cash at bank 2,101 3,809
10,855 12,695
CREDITORS
Amounts falling due within one year 4 7,271 12,412
NET CURRENT ASSETS 3,584 283
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,584

283

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,583 282
3,584 283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 November 2019and were signed by:





Mrs G Hurd- Director


FINE LINGERIE LIMITED (REGISTERED NUMBER: 07533218)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019


1. STATUTORY INFORMATION

Fine Lingerie Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information
page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A ''Small
Entities'' 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 cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Financial instruments
FINANCIAL ASSETS

Trade, group and other debtors
Trade, group and other debtors (including accrued income) which are receivable within one year and
which do not constitute a financing transaction are initially measured at the transaction price and
subsequently measured at amortised cost, being the transaction price less any amounts settled and
any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the
amounts due will not be collected according to the original terms of the contract. Impairment losses
are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present
value of the future cash flows discounted using the original effective interest rate. Subsequent
reversals of an impairment loss that objectively relate to an event occurring after the impairment loss
was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors
Trade, group and other creditors (including accruals) payable within one year that do not constitute a
financing transaction are initially measured at the transaction price and subsequently measured at
amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities
A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or
substantially all the risks and rewards of ownership are transferred to another party, or if some
significant risks and rewards of ownership are retained but control of the asset has transferred to
another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability
(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled
or expires.


FINE LINGERIE LIMITED (REGISTERED NUMBER: 07533218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2019


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that are
expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2018 - 1) .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/19 28/2/18
£    £   
Trade creditors 250 310
Taxation and social security 774 1,179
Other creditors 6,247 10,923
7,271 12,412