Accounts Submission

Company Accounts and Tax Online 03991841 Board of Directors 1.4.16 31.3.17 31.3.17 false iso4217:GBP xbrli:pure 03991841 2015-04-01 2016-03-31 03991841 2017-03-31 03991841 2016-04-01 2017-03-31 03991841 2016-03-31 03991841 countries:EnglandWales 2016-04-01 2017-03-31 03991841 curr:PoundSterling 2016-04-01 2017-03-31 03991841 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 03991841 uk-bus:FRS102 2016-04-01 2017-03-31 03991841 uk-bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 03991841 uk-bus:FullAccounts 2016-04-01 2017-03-31 03991841 uk-bus:RegisteredOffice 2016-04-01 2017-03-31 03991841 uk-bus:Director1 2016-04-01 2017-03-31 03991841 uk-bus:Director1 2016-04-01 03991841 uk-bus:Director1 2017-03-31 03991841 uk-bus:Director2 2016-04-01 2017-03-31 03991841 uk-bus:Director2 2016-04-01 03991841 uk-bus:Director2 2017-03-31 03991841 uk-bus:CompanySecretary1 2016-04-01 2017-03-31 03991841 core:AfterOneYear 2017-03-31 03991841 core:AfterOneYear 2016-03-31 03991841 core:WithinOneYear 2017-03-31 03991841 core:WithinOneYear 2016-03-31 03991841 core:WithinOneYear 2016-04-01 2017-03-31 03991841 core:AfterOneYear 2017-03-31 03991841 core:AfterOneYear 2016-03-31 03991841 core:AfterOneYear 2016-04-01 2017-03-31 03991841 core:ShareCapital 2017-03-31 03991841 core:ShareCapital 2016-03-31 03991841 core:RevaluationReserve 2017-03-31 03991841 core:RevaluationReserve 2016-03-31 03991841 core:RetainedEarningsAccumulatedLosses 2017-03-31 03991841 core:RetainedEarningsAccumulatedLosses 2016-03-31 03991841 1 2016-04-01 2017-03-31 03991841 core:LandBuildings 2016-04-01 2017-03-31 03991841 core:LandBuildings 2017-03-31 03991841 core:LandBuildings 2015-04-01 2016-03-31 03991841 core:LandBuildings 2016-03-31 03991841 core:PlantMachinery 2016-04-01 2017-03-31 03991841 core:PlantMachinery 2017-03-31 03991841 core:PlantMachinery 2015-04-01 2016-03-31 03991841 core:PlantMachinery 2016-03-31 03991841 core:FurnitureFittingsToolsEquipment 2016-04-01 2017-03-31 03991841 core:FurnitureFittingsToolsEquipment 2017-03-31 03991841 core:FurnitureFittingsToolsEquipment 2015-04-01 2016-03-31 03991841 core:FurnitureFittingsToolsEquipment 2016-03-31 03991841 core:OfficeEquipment 2016-04-01 2017-03-31 03991841 core:OfficeEquipment 2017-03-31 03991841 core:OfficeEquipment 2015-04-01 2016-03-31 03991841 core:OfficeEquipment 2016-03-31 03991841 core:Vehicles 2016-04-01 2017-03-31 03991841 core:Vehicles 2017-03-31 03991841 core:Vehicles 2015-04-01 2016-03-31 03991841 core:Vehicles 2016-03-31 03991841 core:NetGoodwill 2016-04-01 2017-03-31 03991841 core:NetGoodwill 2017-03-31 03991841 core:NetGoodwill 2015-04-01 2016-03-31 03991841 core:NetGoodwill 2016-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2016-04-01 2017-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2017-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2015-04-01 2016-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2016-03-31

Company Registration Number:
03991841 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2017

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Contents of the Financial Statements

for the Period Ended 31 March 2017


Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 10

Directors' Report Period Ended 31 March 2017

The directors present their report with the financial statements of the company for the period ended 31 March 2017

Principal Activities

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

Additional information

The trading profit for the financial year amounted to £3,357. It is recommended that this amount be set against losses brought forward. The directors are pleased to report that the company has returned to profitability this year. The company continues to design and market its own products for the wholesale and retail market which is helping its recovery.

Directors

The directors shown below have held office during the whole of the period from 01 April 2016 to 31 March 2017
M A Wahli
M Ortuno Prats

Secretary
M Ortuno Prats

This report was approved by the board of directors on 30 December 2017
And Signed On Behalf Of The Board By:

Name: M A Wahli
Status: Director

Name: M Ortuno Prats
Status: Director

Profit and Loss Account

for the Period Ended 31 March 2017

	2017 £	2016 £
Turnover	1,142,928	1,593,226
Cost of sales	(577,815)	(771,085)
Gross Profit or (Loss)	565,113	822,141
Distribution Costs	(1,129)	(1,654)
Administrative Expenses	(559,857)	(835,595)
Operating Profit or (Loss)	4,127	(15,108)
Interest Payable and Similar Charges	(770)	(766)
Profit or (Loss) Before Tax	3,357	(15,874)
Profit or (Loss) for Period	3,357	(15,874)

The notes form part of these financial statements

Balance sheet

As at 31 March 2017

	Notes	2017 £	2016 £
Fixed assets
Tangible assets:	3	28,300	42,450
Total fixed assets:		28,300	42,450
Current assets
Stocks:		171,133	174,569
Debtors:	4	102,712	114,015
Cash at bank and in hand:		12,747	35,194
Total current assets:		286,592	323,778
Creditors: amounts falling due within one year:	5	( 268,927 )	( 305,021 )
Net current assets (liabilities):		17,665	18,757
Total assets less current liabilities:		45,965	61,207
Creditors: amounts falling due after more than one year:	6	( 29,483 )	( 48,082 )
Total net assets (liabilities):		16,482	13,125

The notes form part of these financial statements

Balance sheet continued

As at 31 March 2017

	2017 £	2016 £
Capital and reserves
Called up share capital:	250,100	250,100
Profit and loss account:	( 233,618 )	( 236,975 )
Shareholders funds:	16,482	13,125

For the year ending 31 March 2017 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 December 2017
And Signed On Behalf Of The Board By:

Name: M A Wahli
Status: Director

Name: M Ortuno Prats
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2017

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

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:-
Fixtures and fittings - 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 - The directors are pleased to report that the company has returned to profitability as a direct result of significantly reducing operating expenses. For the reason stated above, the directors are of the opinion that it is appropriate to prepare the company's accounts on a going concern basis.

Notes to the Financial Statements

for the Period Ended 31 March 2017

2. Employees

	2017	2016
Average number of employees during the period	12	12

Notes to the Financial Statements

for the Period Ended 31 March 2017

3. Tangible assets

	Fixtures & fittings	Total
Cost	£	£
At 01 April 2016	61,780	61,780
Additions	-	-
Disposals	-	-
Revaluations	-	-
Transfers	-	-
At 31 March 2017	61,780	61,780
Depreciation
At 01 April 2016	19,330	19,330
Charge for year	14,150	14,150
On disposals	-	-
Other adjustments	-	-
At 31 March 2017	33,480	33,480
Net book value
At 31 March 2017	28,300	28,300
At 31 March 2016	42,450	42,450

Notes to the Financial Statements

for the Period Ended 31 March 2017

4. Debtors

	2017 £	2016 £
Trade debtors	6,366	21,991
Prepayments and accrued income	47,799	46,091
Other debtors	48,547	45,933
Total	102,712	114,015

Other debtors include lease deposits of £43,461 (2016 £43,461).

Notes to the Financial Statements

for the Period Ended 31 March 2017

5.Creditors: amounts falling due within one year note

	2017 £	2016 £
Bank loans and overdrafts	24,634	0
Trade creditors	222,266	214,787
Taxation and social security	10,422	65,884
Accruals and deferred income	11,605	24,350
Total	268,927	305,021

The bank overdraft is secured by a floating charge over the assets of the company and by a personal guarantee of the director M A Wahli.

Notes to the Financial Statements

for the Period Ended 31 March 2017

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

	2017 £	2016 £
Other creditors	29,483	48,082
Total	29,483	48,082

Other creditors represents a shareholders loan to provide additional working capital. 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.

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 Submission