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Registered number: 08597532
Systems for Branding Limited
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 July 2024
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountants' Report 3
Statement of Income and Retained Earnings 4
Balance Sheet 5—6
Notes to the Financial Statements 7—8
Page 1
Company Information
Director I H Brown
Company Number 08597532
Registered Office Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Accountants Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 July 2024.
Principal Activity
The principal activity of the company in the year under review was that of wholesale promotional event banner distribution.
Directors
The director who held office during the year were as follows:
I H Brown
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
I H Brown
Director
30/09/2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 July 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
30/09/2024
Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Page 3
Page 4
Statement of Income and Retained Earnings
2024 2023
Notes $ $
TURNOVER - 65,639
Cost of sales - (76,683 )
GROSS LOSS - (11,044 )
Administrative expenses 45,384 (40,120 )
Other operating income - 180
OPERATING PROFIT/(LOSS) AND PROFIT/(LOSS) FOR THE FINANCIAL YEAR 45,384 (50,984 )
RETAINED EARNINGS
As at 1 August 2023 (34,848 ) 16,136
As at 31 July 2024 10,536 (34,848 )
The notes on pages 7 to 8 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes $ $ $ $
FIXED ASSETS
CURRENT ASSETS
Stocks 4 5,048 5,048
Debtors 5 102,018 104,276
Cash at bank and in hand - 13
107,066 109,337
Creditors: Amounts Falling Due Within One Year 6 (96,527 ) (104,880 )
NET CURRENT ASSETS (LIABILITIES) 10,539 4,457
TOTAL ASSETS LESS CURRENT LIABILITIES 10,539 4,457
Creditors: Amounts Falling Due After More Than One Year 7 - (39,302 )
NET ASSETS/(LIABILITIES) 10,539 (34,845 )
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 10,536 (34,848 )
SHAREHOLDERS' FUNDS 10,539 (34,845)
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Page 6
For the year ending 31 July 2024 the company was entitled to exemption from audit 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 director acknowledges his 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.
On behalf of the board
I H Brown
Director
30/09/2024
The notes on pages 7 to 8 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Systems for Branding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08597532 . The registered office is Ground Floor Marlborough House, 298 Regents Park Road, London, N3 2SZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.
Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
2.3. Stocks and Work in Progress
tories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Reporting currency
The accounts are reported in the base currency of US dollars.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Stocks
2024 2023
$ $
Stock 5,048 5,048
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Page 8
5. Debtors
2024 2023
$ $
Due within one year
Trade debtors 102,018 104,118
VAT - 158
102,018 104,276
6. Creditors: Amounts Falling Due Within One Year
2024 2023
$ $
Trade creditors 582 5,264
Bank loans and overdrafts 7,528 6,403
Other creditors 73,836 69,017
Bounce back loan - 12,414
Director's loan account 14,581 11,782
96,527 104,880
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
$ $
Bounce back loan - due 1-2 - 12,414
Bounce back loan - due 2-5 - 26,888
- 39,302
8. Share Capital
2024 2023
Allotted, called up and fully paid $ $
2 Ordinary Shares of £ 1.32 each 3 3
9. Related Party Transactions
At the year end, company owed to the director - I Brown an amount of $14,581 (2023 - $11,782). This loan is unsecured, interest free and repayable on demand.
The controlling party is the director by virtue of his shareholding.
10. Taxation
The company has carried forward losses of $186,574 (2023: $231,959) to use against future profits.
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