Ethnic Brand Marketing Limited - Accounts to registrar (filleted) - small 18.2
Ethnic Brand Marketing Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2020 |
for |
Ethnic Brand Marketing Limited |
Ethnic Brand Marketing Limited (Registered number: 08451578) |
Contents of the Financial Statements |
for the year ended 30 June 2020 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Ethnic Brand Marketing Limited |
Company Information |
for the year ended 30 June 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
Ethnic Brand Marketing Limited (Registered number: 08451578) |
Statement of Financial Position |
30 June 2020 |
30.6.20 | 30.6.19 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
RESERVES |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 and authorised for issue on |
Ethnic Brand Marketing Limited (Registered number: 08451578) |
Notes to the Financial Statements |
for the year ended 30 June 2020 |
1. | STATUTORY INFORMATION |
Ethnic Brand Marketing Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are provided to the customer. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Going concern |
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. |
Cash and cash equivalent |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Ethnic Brand Marketing Limited (Registered number: 08451578) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2020 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
Included in other debtors there is an amount owed by Mongoose Brewing Limited of £5,358.30 (2019 - £49,758), an amount owed by Abbey Beers of £19,500 (2019 -£nil), an amount owed by Andwell Brewing Ltd of £39,189 (2019 -£nil), an amount owed by Azizi Drinks Ltd of £3,100 (2019 -£1800) and an amount owed by Christmas Functions of £65,000 (2019 -£nil,) all companies are under the same control of one of the director/shareholder. |
Included in creditors there is an amount owed by AK Partnership Limited of £4,334 (2019 - £10,666Cr) , and an amount owed to Gandhi Wines Suppliers of £226,126 (2019 -£65,269), all companies are under the same control of one of the director/shareholder. |
7. | ULTIMATE CONTROLLING PARTY |
AK Partnership Limited controls the company by virtue of their direct interest in the whole of the issued share capital. |