Viral Brands Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03912038 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

Viral Brands Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R Utudjian

REGISTERED OFFICE:

Sabichi House

5 Wadsworth Road

Perivale

Middlesex

UB6 7JD

REGISTERED NUMBER:

03912038 (England and Wales)

ACCOUNTANT:

Hilton Consulting Limited

119 The Hub

300 Kensal Road

London

W10 5BE

FIXED ASSETS

Tangible assets

4

162,560

112,498

CURRENT ASSETS

Stocks

494,739

351,197

Debtors

706,038

901,549

Cash at bank

39,825

141,146

1,240,602

1,393,892

CREDITORS

Amounts falling due within one year

574,308

476,714

NET CURRENT ASSETS

666,294

917,178

TOTAL ASSETS LESS CURRENT LIABILITIES

828,854

1,029,676

CREDITORS

Amounts falling due after more than one year

296,731

274,880

NET ASSETS

532,123

754,796

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

532,023

754,696

SHAREHOLDERS' FUNDS

532,123

754,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 November 2018 and were signed by:

R Utudjian - Director

1.	STATUTORY INFORMATION

Viral Brands Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2017

239,933

Additions

81,701

At 31 January 2018

321,634

DEPRECIATION

At 1 February 2017

127,435

Charge for year

31,639

At 31 January 2018

159,074

NET BOOK VALUE

At 31 January 2018

162,560

At 31 January 2017

112,498

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Utudjian by virtue of his ownership of the share capital of the Company.

6.	EXCEPTIONAL ITEMS

During the year there was an exceptional item related to misappropriated funds totalling £443,614.