Ethnic Brand Marketing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08451578 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2021 to 31 March 2022

for

ETHNIC BRAND MARKETING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

K.A. Mody

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

08451578 (England and Wales)

ACCOUNTANTS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

CURRENT ASSETS

Stocks

83,585

90,735

Debtors

4

306,510

319,182

Cash at bank and in hand

9,565

91,734

399,660

501,651

CREDITORS

Amounts falling due within one year

5

649,471

571,204

NET CURRENT LIABILITIES

(249,811

)

(69,553

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(249,811

)

(69,553

)

CREDITORS

Amounts falling due after more than one year

6

47,814

50,000

NET LIABILITIES

(297,625

)

(119,553

)

RESERVES

Retained earnings

(297,625

)

(119,553

)

SHAREHOLDERS' FUNDS

(297,625

)

(119,553

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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 23 March 2023 and were signed by:

K.A. Mody - Director

1.	STATUTORY INFORMATION

Ethnic Brand Marketing Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are provided to the customer.

Stocks

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.

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.

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 period was 3 (2021 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

30/6/21

£

£

Trade debtors

161,724

80,303

Amounts owed by group undertakings

139,251

236,406

Other debtors

5,535

2,473

306,510

319,182

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

30/6/21

£

£

Trade creditors

287,735

262,087

Amounts owed to group undertakings

322,161

299,415

Taxation and social security

16,601

5,701

Other creditors

22,974

4,001

649,471

571,204

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/22

30/6/21

£

£

Bank loans

47,814

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bounce back loans

47,814

50,000

7.	RELATED PARTY DISCLOSURES

Included in other debtors there is an amount owed by Mongoose Brewing Limited of £19,858 (2021 - £10,358), an amount owed by Andwell Brewing Ltd of £36,059 (2021 -36,059), an amount owed by Azizi Drinks Ltd of £24,797 (2021 -£87,155), an amount owed by AK Partnership Limited of £4,334 (2021 - £4,334) and an amount owed by Christmas Functions of £65,000 (2021 -£65,000) all companies are under the same control of one of the director/shareholder.

Included in debtors there is an amount owed to Gandhi Wines Suppliers of £297,364(2021 - £299,415), all companies are under the same control of one of the director/shareholder.

8.	ULTIMATE CONTROLLING PARTY

AK Partnership Limited controls the company by virtue of their direct interest in the whole of the issued share capital.