Accounts filed on 31-03-2016

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Company Registration Number:
03991841 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

Contents of the Financial Statements

for the Period Ended 31 March 2016


Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

Directors' Report Period Ended 31 March 2016

The directors present their report with the financial statements of the company for the period ended 31 March 2016

Principal Activities

The principal activity of the company in the year under review was that of selling books and products.

Directors
The directors shown below have held office during the whole of the period from
01 April 2015 to 31 March 2016
M A Wahli
M Ortuno Prats

Additional information

The directors have taken direct measures to reduce staffing overheads in 2016-17 which should help return the company to profitability and produce finance to reduce creditors.

The company continues to design and market its own products for the wholesale and retail market which is helping its recovery.

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 30 December 2016
And Signed On Behalf Of The Board By:

Name: M A Wahli
Status: Director

Profit and Loss Account

for the Period Ended 31 March 2016

	Notes	2016 £	2015 £
Turnover:		1,593,226	1,848,755
Cost of sales:		( 771,085 )	( 966,313 )
Gross profit or (loss):		822,141	882,442
Distribution costs:		( 1,654 )	( 2,513 )
Administrative expenses:	2, 3	( 835,595 )	( 874,423 )
Operating profit or (loss):	4	( 15,108 )	5,506
Interest payable and similar charges:		( 766 )	( 1,009 )
Profit or (loss) on ordinary activities before taxation:		( 15,874 )	4,497
Profit or (loss) for the financial year:		( 15,874 )	4,497

The notes form part of these financial statements

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report

Balance sheet

As at 31 March 2016

	Notes	2016 £	2015 £
Fixed assets
Tangible assets:	5	42,450	56,600
Total fixed assets:		42,450	56,600
Current assets
Stocks:	6	174,569	236,033
Debtors:	7	114,015	119,025
Cash at bank and in hand:		35,194	36,092
Total current assets:		323,778	391,150
Creditors: amounts falling due within one year:	8	( 305,021 )	( 352,568 )
Net current assets (liabilities):		18,757	38,582
Total assets less current liabilities:		61,207	95,182
Creditors: amounts falling due after more than one year:	9	( 48,082 )	( 66,183 )
Total net assets (liabilities):		13,125	28,999

The notes form part of these financial statements

Balance sheet continued

As at 31 March 2016

	Notes	2016 £	2015 £
Capital and reserves
Called up share capital:	10	250,100	250,100
Profit and loss account:	11	( 236,975 )	( 221,101 )
Shareholders funds:		13,125	28,999

For the year ending 31 March 2016 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 30 December 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: M A Wahli
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2016

1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Small Entities (Effective January 2015).

Turnover policy

Turnover represents income from the sale of books and related products.

Tangible fixed assets depreciation policy

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset, less estimated residual value, over its expected useful life, as follows:- Furniture and office equipment 25% per annum on straight line basis.

Valuation information and policy

Stock is valued at the lower of cost or net realisable value.

Other accounting policies

Going Concern note - The directors have taken direct measures to reduce staffing overheads in 2016-17 which should help return the company to profitability and produce finance to reduce creditors.
For the reasons stated above, the directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis.

Notes to the Financial Statements

for the Period Ended 31 March 2016

2. Directors' remuneration

	2016 £	2015 £
Directors' remuneration:	69,498	86,346
TOTAL:	69,498	86,346

Notes to the Financial Statements

for the Period Ended 31 March 2016

3. Employees

	2016 £	2015 £
Wages and salaries:	250,021	280,344
Social security costs:	20,935	24,300
Total staff costs:	270,956	304,644
Average number of employees including directors during the period:	12	21

Notes to the Financial Statements

for the Period Ended 31 March 2016

4. Operating profit or (loss)

Operating profit or (loss) before tax as stated after charging the following.

	2016 £	2015 £
Depreciation - owned assets:	14,150	5,180
Bad debts written off:	1,346	532

Notes to the Financial Statements

for the Period Ended 31 March 2016

5. Tangible assets

	Land and buildings	Plant and Machinery	Fixtures and fittings	Office Equipment	Motor vehicles	Total
Cost	£	£	£	£	£	£
01 April 2015:	-	-	61,780	-	-	61,780
Additions:	-	-	-	-	-	0
Disposals:	-	-	-	-	-	0
Revaluations:	-	-	-	-	-	0
Transfers:	-	-	-	-	-	0
31 March 2016:	-	-	61,780	-	-	61,780
Depreciation
01 April 2015:	-	-	5,180	-	-	5,180
Charge for year:	-	-	14,150	-	-	14,150
On disposals:	-	-	-	-	-	0
Other adjustments:	-	-	-	-	-	0
31 March 2016:	-	-	19,330	-	-	19,330
Net book value
31 March 2016:	-	-	42,450	-	-	42,450
31 March 2015:	-	-	56,600	-	-	56,600

Notes to the Financial Statements

for the Period Ended 31 March 2016

6. Stocks

	2016 £	2015 £
Finished goods and goods for resale:	174,569	236,033
Total:	174,569	236,033

Notes to the Financial Statements

for the Period Ended 31 March 2016

7. Debtors

	2016 £	2015 £
Trade debtors:	21,991	12,259
Prepayments and accrued income:	46,091	61,831
Other debtors:	45,933	44,935
Total:	114,015	119,025

Notes to the Financial Statements

for the Period Ended 31 March 2016

8. Creditors: amounts falling due within one year

	2016 £	2015 £
Bank loans and overdrafts:	0	32,388
Trade creditors:	214,787	262,900
Taxation and social security:	65,884	26,477
Accruals and deferred income:	24,350	26,612
Other creditors:	0	4,191
Total:	305,021	352,568

Notes to the Financial Statements

for the Period Ended 31 March 2016

9. Creditors: amounts falling due after more than one year

	2016 £	2015 £
Other creditors:	48,082	66,183
Total:	48,082	66,183

Other creditors represents a shareholders loan, no interest was charged during the year on the unsecured loan. The loan is repayable when funds are available, subject to giving due consideration to the liquidity requirements of the company.

Notes to the Financial Statements

for the Period Ended 31 March 2016

10. Called up share capital

Allotted, called up and paid

Previous period			2015
Class	Number of shares	Nominal value per share (£)	Total (£)
Ordinary shares:	250,100	1.00	250,100
Preference shares:			0
Total share capital (£):			250,100

Current period			2016
Class	Number of shares	Nominal value per share (£)	Total (£)
Ordinary shares:	250,100	1.00	250,100
Preference shares:			0
Total share capital (£):			250,100

Notes to the Financial Statements

for the Period Ended 31 March 2016

11. Profit and loss account

	2016 £	2015 £
Opening balance:	( 221,101 )	( 225,598 )
Profit or (loss) for the period:	( 15,874 )	4,497
Retained profit:	( 236,975 )	( 221,101 )

Director:		M A Wahli
		M Ortuno Prats


Secretary:		M Ortuno Prats


Registered office:		117-119 Clerkenwell Road London EC1R 5BY


Company Registration Number:		03991841 (England and Wales)

Accounts filed on 31-03-2016