Banned Ecomm Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11035207 (England and Wales)

Banned Ecomm Limited

Unaudited Financial Statements

for the Period 27 October 2017 to 31 March 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Syal

Mrs J E Syal

REGISTERED OFFICE:

Unit 1

Westfield Close

Rawreth Industrial Estate

Rayleigh

Essex

SS6 9RL

REGISTERED NUMBER:

11035207 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Intangible assets

4

18,080

Tangible assets

5

5,745

23,825

CURRENT ASSETS

Debtors

6

6,734

Cash at bank

15,507

22,241

CREDITORS

Amounts falling due within one year

7

132,257

NET CURRENT LIABILITIES

(110,016

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(86,191

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

(86,291

)

SHAREHOLDERS' FUNDS

(86,191

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 25 July 2019 and were signed on its behalf by:

Mrs J E Syal - Director

S Syal - Director

1.	STATUTORY INFORMATION

Banned Ecomm 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis due to the continued support of the directors and parent

company.

Income recognition

Income represents the fair value of consideration received or receivable derived from the provision of goods and services

to customers during the period (excluding value added tax) and is recognised when the company becomes entitled to it,

usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have

transferred to them.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like

trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

27,120

At 31 March 2019

27,120

AMORTISATION

Charge for period

9,040

At 31 March 2019

9,040

NET BOOK VALUE

At 31 March 2019

18,080

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

7,654

At 31 March 2019

7,654

DEPRECIATION

Charge for period

1,909

At 31 March 2019

1,909

NET BOOK VALUE

At 31 March 2019

5,745

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

6,734

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

20

Trade creditors

42,898

Other creditors

89,339

132,257

8.	LEASING AGREEMENTS

The company has total other operating lease commitments at 31 March 2019 of £23,639.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

50

Ordinary A shares

£1

50

50

Ordinary B shares

£1

50

100

The following shares were allotted and fully paid for cash at par during the period:

50 Ordinary A shares shares of £1 each

50 Ordinary B shares shares of £1 each

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling company and the relevant legal entity is Banned Apparel Limited of Unit 1 Westfield Close,

Raweth Industrial Estate, Raweth Lane, Rayleigh Essex SS6 9RL.