Company Registration No. 10298315 (England and Wales)
Faultless Limited
Unaudited accounts
for the year ended 31 March 2020
Faultless Limited
Unaudited accounts
Contents
Faultless Limited
Company Information
for the year ended 31 March 2020
Secretary
Anna Augustyniak
Company Number
10298315 (England and Wales)
Registered Office
33 ALLIANCE CLOSE
WEMBLEY
HA0 2NG
ENGLAND
Faultless Limited
Statement of financial position
as at
31 March 2020
Cash at bank and in hand
11,922
25,040
Creditors: amounts falling due within one year
(19,871)
(30,584)
Net current liabilities
(7,949)
(5,544)
Net liabilities
(7,949)
(5,544)
Called up share capital
100
100
Profit and loss account
(8,049)
(5,644)
Shareholders' funds
(7,949)
(5,544)
For the year ending 31 March 2020 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.
The financial statements were approved by the Board and authorised for issue on 21 August 2020 and were signed on its behalf by
Piotr Ostrowski
Director
Company Registration No. 10298315
Faultless Limited
Notes to the Accounts
for the year ended 31 March 2020
Faultless Limited is a private company, limited by shares, registered in England and Wales, registration number 10298315. The registered office is 33 ALLIANCE CLOSE, WEMBLEY, HA0 2NG, ENGLAND.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Creditors: amounts falling due within one year
2020
2019
Trade creditors
9,547
13,728
Taxes and social security
2,413
4,249
Loans from directors
7,000
12,000
5
Average number of employees
During the year the average number of employees was 0 (2019: 0).