ISMAILBRA LTD Company accounts

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COMPANY REGISTRATION NUMBER: 09006651

ISMAILBRA LTD

Unaudited Financial Statements

30 April 2019

ISMAILBRA LTD

Financial Statements

Year ended 30 April 2019

Contents	Page

Director's report	1

Statement of comprehensive income	2

Statement of financial position	3

Notes to the financial statements	4

ISMAILBRA LTD

Director's Report

Year ended 30 April 2019

The director presents her report and the unaudited financial statements of the company for the year ended 30 April 2019 .

The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year. It is anticipated that the company will remain dormant for the foreseeable future.

Director

The director who served the company during the year was as follows:

Ms I CESSAY

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 28 May 2019 and signed on behalf of the board by:

Ms I CESSAY
Director

Registered office:

FLAT 7

27 COLEGROVE ROAD

PECKHAM

LONDON

SE15 6NT

ISMAILBRA LTD

Statement of Comprehensive Income

Year ended 30 April 2019

	2019	2018
Note	£	£
Turnover	–	3,402

	----	-------
Gross profit	–	3,402

Administrative expenses	578	5,901
	----	-------
Operating loss	( 578)	( 2,499)

Other interest receivable and similar income		–	5
		----	-------
Loss before taxation	4	( 578)	( 2,494)

Tax on loss	–	–
	----	-------
Loss for the financial year and total comprehensive income	( 578)	( 2,494)
	----	-------

All the activities of the company are from continuing operations.

No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year.

ISMAILBRA LTD

Statement of Financial Position

30 April 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		875	875

Creditors: amounts falling due within one year	6	3,920		3,342
		-------		-------
Net current liabilities			3,920	3,342
			-------	-------
Total assets less current liabilities			( 3,045)	( 2,467)
			-------	-------
Net liabilities			( 3,045)	( 2,467)
			-------	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 3,046)	( 2,468)
	-------	-------
Shareholders deficit	( 3,045)	( 2,467)
	-------	-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 April 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 May 2019 , and are signed on behalf of the board by:

Ms I CESSAY
Director

Company registration number: 09006651

ISMAILBRA LTD

Notes to the Financial Statements

Year ended 30 April 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is FLAT 7, 27 COLEGROVE ROAD, PECKHAM, LONDON, SE15 6NT, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	25% straight line
Motor Vehicle	-	25% straight line
Office Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Profit before taxation

Profit before taxation is stated after charging:

	2019	2018
	£	£
Depreciation of tangible assets	–	1,241
	----	-------

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 May 2018 and 30 April 2019	565	3,500	1,036	5,101
	----	-------	-------	-------
Depreciation
At 1 May 2018 and 30 April 2019	565	2,625	1,036	4,226
	----	-------	-------	-------
Carrying amount
At 30 April 2019	–	875	–	875
	----	-------	-------	-------
At 30 April 2018	–	875	–	875
	----	-------	-------	-------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Other creditors	3,920	3,342
	-------	-------

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Ms I CESSAY	( 2,665)	( 677)	( 3,342)
	-------	----	-------

	2018
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Ms I CESSAY	( 1,064)	( 1,601)	( 2,665)
	-------	-------	-------

Director's credits disclosed as follows::(a) its amount to £3,342.09; (b) atthe interest rate of 2.8% APR; (c) to be repaid within 5-years; and (d) repayment of the above credit commences first month after the end of the accounting period.

8. Related party transactions

The company was under the control of Ms Isatuo Ceesay throughout the current and previous year. Ms Isatuo Ceesay is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (2015)