Abbreviated Company Accounts - I-BAG- LTD

Registered Number 08007570

I-BAG- LTD

Abbreviated Accounts

31 March 2014

I-BAG- LTD Registered Number 08007570

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	19,490	8,200
		19,490	8,200
Current assets
Stocks		33,791	28,937
Cash at bank and in hand		-	175
		33,791	29,112
Creditors: amounts falling due within one year		(35,808)	(29,336)
Net current assets (liabilities)		(2,017)	(224)
Total assets less current liabilities		17,473	7,976
Creditors: amounts falling due after more than one year		(18,253)	(7,531)
Total net assets (liabilities)		(780)	445
Capital and reserves
Called up share capital		1	1
Profit and loss account		(781)	444
Shareholders' funds		(780)	445

For the year ending 31 March 2014 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.

Approved by the Board on 5 December 2014

And signed on their behalf by:
Imtiyas Noor Ahamed, Director

I-BAG- LTD Registered Number 08007570

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts

Tangible assets depreciation policy
Year of purchase no depreciation charged on motor vehicles - 25% on cost

2Tangible fixed assets

	£
Cost
At 27 March 2013	8,200
Additions	13,340
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	21,540
Depreciation
At 27 March 2013	0
Charge for the year	2,050
On disposals	-
At 31 March 2014	2,050
Net book values
At 31 March 2014	19,490
At 26 March 2013	8,200