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 2016

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 2016

- 1 -

2016

2015

as restated

Notes

Fixed assets

Intangible assets

2,653

932

Tangible assets

1,322

1,863

3,975

2,795

Current assets

Stocks

46,112

77,093

Debtors

117,554

275,863

Cash at bank and in hand

2,060

764

165,726

353,720

Creditors: amounts falling due within one year

(261,488)

(494,952)

Net current liabilities

(95,762)

(141,232)

Total assets less current liabilities

(91,787)

(138,437)

Creditors: amounts falling due after more than one year

(459,876)

(255,106)

(551,663)

(393,543)

Capital and reserves

Called up share capital

2,393,000

Profit and loss account

(2,944,663)

(2,786,543)

Shareholders' funds

(551,663)

(393,543)

BRAND COLLECTION LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JANUARY 2016

- 2 -

For the financial year ended 31 January 2016 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 January 2017

E L Zekaria

Director

Company Registration No. 04899342

BRAND COLLECTION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 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 January 2015).

The company recorded a loss of £158,120 (2015: £175,558) for the year and had net liabilities of £551,663(2015: £393,543) 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 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 February 2015

57,025

75,036

132,061

Additions

2,569

At 31 January 2016

59,594

75,036

134,630

Depreciation

At 1 February 2015

56,093

73,172

129,265

Charge for the year

848

542

1,390

At 31 January 2016

56,941

73,714

130,655

Net book value

At 31 January 2016

2,653

1,322

3,975

At 31 January 2015

932

1,863

2,795

Share capital

2016

2015

Allotted, called up and fully paid

2,393,000 Ordinary Shares of £1 each

2,393,000