Registered number
Filleted Accounts
31 May 2017
Registered number: 06923504
Balance Sheet
as at 31 May 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 290 388
Current assets
Stocks 33,121 33,121
Cash at bank and in hand 31 160
33,152 33,281
Creditors: amounts falling due within one year 3 (156,859) (145,265)
Net current liabilities (123,707) (111,984)
Net liabilities (123,417) (111,596)
Capital and reserves
Called up share capital 2 2
Profit and loss account (123,419) (111,598)
Shareholders' funds (123,417) (111,596)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Bedford
Approved by the board on 26 January 2018
Notes to the Accounts
for the year ended 31 May 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures and fittings 25% reducing balance
Office equipment 25% reducing balance
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Tangible fixed assets
Fixtures & fittings Office equipment Total
£ £ £
At 1 June 2016 1,743 500 2,243
At 31 May 2017 1,743 500 2,243
At 1 June 2016 1,421 434 1,855
Charge for the year 81 17 98
At 31 May 2017 1,502 451 1,953
Net book value
At 31 May 2017 241 49 290
At 31 May 2016 322 66 388
3 Creditors: amounts falling due within one year 2017 2016
£ £
Accruals 480 720
Trade creditors 720 197
Other creditors (Directors' loan account) 155,659 144,348
156,859 145,265
4 Related party transactions
At the year end £155,659 (2016: £144,348) was owed to the directors, Carolyn and Steven Bedford.
5 Controlling party
Steven and Carolyn Bedford are the controlling parties by virtue of together holding 100% of the company's issued share capital.
6 Other information
DIFFERENT FOR GIRLS LTD is a private company limited by shares and incorporated in England. Its registered office is:
20 Bolton Avenue
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