Registered number
10626238
Above Brand Limited
Report and Accounts
31 March 2018
Davis, Burton, Williams & Co.
Chartered Certified Accountants and Registered Auditors
11 Beeches Avenue
Carshalton,
Surrey SM5 3LB
Above Brand Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6-7
Above Brand Limited
Company Information
Directors
J K S Elsden (Appointed 17th February 2017)
F Martorelli (Appointed 17th February 2017)
Accountants
Davis Burton Williams & Co
11 Beeches Avenue
Carshalton
Surrey
SM5 3LB
Registered office
11 Beeches Avenue
Carshalton
Surrey
SM5 3LB
Registered number
10626238
Above Brand Limited
Registered number: 10626238
Directors' Report
The directors present their report and accounts for the period 17 February 2017 (Date of Incorporation) to the 31 March 2018.
Principal activities
The company's principal activity during the year was that of the sale and distribution of specialist beers.
Directors
The following persons served as directors during the period:
J K S Elsden (Appointed 17th February 2017)
F Martorelli (Appointed 17th February 2017)
Political donations
The company made no political donations in the year.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 2 November 2018 and signed on its behalf.
J K S Elsden
Director
Above Brand Limited
Profit and Loss Account
for the period from 17 February 2017 to 31 March 2018
2018
£
Turnover 87
Cost of sales (404)
Gross loss (317)
Administrative expenses (3,745)
Operating loss (4,062)
Loss before taxation (4,062)
Tax on loss -
Loss for the period (4,062)
Above Brand Limited
Registered number: 10626238
Balance Sheet
as at 31 March 2018
Notes 2018
£
Current assets
Stocks 12,207
Debtors 3 212
Cash at bank and in hand 547
12,966
Creditors: amounts falling due within one year 4 (16,928)
Net current liabilities (3,962)
Total assets less current liabilities (3,962)
Net liabilities (3,962)
Capital and reserves
Called up share capital 100
Profit and loss account (4,062)
Shareholders' funds (3,962)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The detailed profit and loss account has not been delivered to the Registrar of Companies.
J K S Elsden
Director
Approved by the board on 2 November 2018
Above Brand Limited
Statement of Changes in Equity
for the period from 17 February 2017 to 31 March 2018
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 17 February 2017 - - - - -
Loss for the period - - - (4,062) (4,062)
Total comprehensive income for the financial period - - - (4,062) (4,062)
Shares issued 100 - - - 100
At 31 March 2018 100 - - (4,062) (3,962)
Above Brand Limited
Notes to the Accounts
for the period from 17 February 2017 to 31 March 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2018
Number
Average number of persons employed by the company 2
3 Debtors 2018
£
Trade debtors 104
Other debtors 108
212
4 Creditors: amounts falling due within one year 2018
£
Trade creditors 48
Other creditors 16,880
16,928
5 Events after the reporting date
The directors were not aware of any events after the reporting date which would materially affect the financial statements at the period end.
6 Pension commitments
The company had no pension commitments during the period.
7 Contingent liabilities
The directors were not aware of the existence of any contingent liability at the period end.
8 Related party transactions
Included in other creditors due in the year are amounts due to the directors of £16,480.
9 Controlling party
For the whole of the year the period the company was controlled by the directors.
10 Other information
Above Brand Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Beeches Avenue
Carshalton
Surrey
SM5 3LB
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