Registered number |
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Brand Fusion International Limited | |
Report and accounts | |
Contents | |
Page | |
Company information | 1 |
Directors' report | 2 |
Profit and loss account | 3 |
Balance sheet | 4 |
Notes to the accounts | 5 to 8 |
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Company Information |
Directors |
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Secretary |
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Accountants |
N W Potter & Co |
International Accountants |
Market House |
12a Cross Road |
Tadworth |
Surrey |
KT20 5SR |
Registered office |
Market House |
12a Cross Road |
Tadworth |
Surrey |
KT20 5SR |
Registered number |
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Registered number: |
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Directors' Report | |||||||
The directors present their report and accounts for the year ended |
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Principal activities | |||||||
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Directors | |||||||
The following persons served as directors during the year: | |||||||
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Small company provisions | |||||||
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This report was approved by the board on |
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N D Freemantle | |||||||
Director | |||||||
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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2017 | 2016 | |||||
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Fixed assets | |||||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Current assets | |||||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 6 | ( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account |
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Shareholder's funds |
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N D Freemantle | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Intangible fixed assets | ||||||||
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Tangible fixed assets | ||||||||
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Plant & equipment | 25% per annum on reducing balance | |||||||
Computer equipment | 40% per annum on reducing balance | |||||||
Stocks | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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2 | Employees | 2017 | 2016 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Intangible fixed assets | £ | ||||||
Goodwill: | ||||||||
Cost | ||||||||
At 1 March 2016 |
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Additions |
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At 28 February 2017 |
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Amortisation | ||||||||
At 1 March 2016 |
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Provided during the year |
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At 28 February 2017 |
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Net book value | ||||||||
At 28 February 2017 |
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At 29 February 2016 |
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Patents & trade marks are not amortised. Goodwill acquired prior to 1st March 2016 is being amortised at the rate of 5% per annum on cost over an expected useful life of 20 years. Goodwill acquired from 1st March 2016 onwards is being amortised at the rate of 20% per annum over an expected useful life of 5 years. |
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4 | Tangible fixed assets | |||||||
Plant and machinery etc | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 March 2016 |
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Additions |
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At 28 February 2017 |
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Depreciation | ||||||||
At 1 March 2016 |
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Charge for the year |
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At 28 February 2017 |
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Net book value | ||||||||
At 28 February 2017 |
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At 29 February 2016 |
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5 | Debtors | 2017 | 2016 | |||||
£ | £ | |||||||
Trade debtors |
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Other debtors |
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6 | Creditors: amounts falling due within one year | 2017 | 2016 | |||||
£ | £ | |||||||
Trade creditors |
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Corporation tax |
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Other taxes and social security costs |
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Other creditors |
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Other creditors includes director's loan balances totalling £1,018,050 as at 28th February 2017 (£1,027,076 as at 29th February 2016).These represent the balances of unsecured loans made to the company by N D Freemantle and K A J Friend. There are no formal arrangements to repay these loans and there is no general provision for the directors to charge the company interest on the outstanding balance, but during the year to 28th February 2017, the company did pay interest on part of the loan from N D Freemantle and the loan from K A J Friend. These loans will be repaid to the directors as and when funds are available. Other creditors also include - a) One unsecured private loan balance totalling £185,000 (£181,000 - 2016) which is non-interest bearing and has no fixed date for repayment. b) One unsecured private loan balance totalling £33,318 (£32,438 - 2016) which is interest bearing and has no fixed date for repayment. c) Two separate unsecured loans with respective balances of £183,000 (£195,000 - 2016) and £171,500 (£186,000 - 2016) which are interest bearing and have no fixed date for repayment. Where applicable, interest is calculated on private loans quarterly at a tracker rate of 3% above the Bank of England base rate and paid at the end of each financial quarter of the company. Monies owing to Barclays Bank plc at any time are secured on all company assets. In addition, personal guarantees have been given to Barclays Bank plc by N D Freemantle (a director and sole shareholder) in respect of liabilities to the bank up to a maximum of £200,000. |
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7 | Capital commitments | 2017 | 2016 | |||||
£ | £ | |||||||
Amounts contracted for but not provided in the accounts |
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8 | Other information | |||||||
Brand Fusion International Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Market House | ||||||||
12a Cross Road | ||||||||
Tadworth | ||||||||
Surrey | ||||||||
KT20 5SR |