Brand_Collection_Limited - Accounts

BRAND COLLECTION LIMITED - Company Information

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Company Registration No. 04899342 (England and Wales)

Brand Collection Limited

Unaudited abbreviated financial statements

For the year ended 31 January 2015

BRAND COLLECTION LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

BRAND COLLECTION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

932

905

Tangible assets

1,863

1,707

2,795

2,612

Current assets

Stocks

77,093

106,191

Debtors

275,863

429,336

Cash at bank and in hand

764

10,119

353,720

545,646

Creditors: amounts falling due within one year

(368,051)

(306,948)

Net current liabilities/(assets)

(14,331)

238,698

Total assets less current liabilities

(11,536)

241,310

Creditors: amounts falling due after more than one year

(255,106)

(459,295)

(266,642)

(217,985)

Capital and reserves

Called up share capital

2,393,000

Profit and loss account

(2,659,642)

(2,610,985)

Shareholders' funds

(266,642)

(217,985)

BRAND COLLECTION LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JANUARY 2015

- 2 -

For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 November 2015

E L Zekaria

Director

Company Registration No. 04899342

BRAND COLLECTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company recorded a loss of £48,657 (2014: profit of £12,392) for the year and had net liabilities of £266,642 (2014: £217,985) at the year end.

The company is funded by loans from M Zekaria, a director and principle shareholder. M Zekaria has confirmed that sufficient finance will be made available to the company to enable it to continue trading for the foreseeable future . The directors are satisfied that they can continue to finance the business in this manner. Accordingly, the directors consider it appropriate to prepare these financial statements on a going concern basis.

The financial statements do not include any adjustments that would result from a withdrawal of the support of M Zekaria.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

1.4

Patents

Trademarks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 5 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% Straight line

Fixtures, fittings & equipment

20% Straight line

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

BRAND COLLECTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 February 2014

56,408

74,370

130,778

Additions

617

665

1,282

At 31 January 2015

57,025

75,035

132,060

Depreciation

At 1 February 2014

55,503

72,663

128,166

Charge for the period

590

509

1,099

At 31 January 2015

56,093

73,172

129,265

Net book value

At 31 January 2015

932

1,863

2,795

At 31 January 2014

905

1,707

2,612

Share capital

2015

2014

Allotted, called up and fully paid

2,393,000 Ordinary Shares of £1 each

2,393,000