REGISTERED NUMBER: 03718350

Report of the Director and

Financial Statements for the Year Ended 31 December 2017

for

International Sports Brands Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

David Ian Stapley

REGISTERED OFFICE:

Atlantic House

Imperial Way

Reading

Berkshire

RG2 0TD

BUSINESS ADDRESS:

Unit 2 Moorbrook Park

Didcot

Oxfordshire

OX11 7HP

REGISTERED NUMBER:

03718350

ACCOUNTANTS:

Campbell Parker

Atlantic House

Imperial Way

Reading

Berkshire

RG2 0TD

The director presents his report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of sporting equipment and

accessories.

DIVIDENDS

An interim dividend of £600.00 per share was paid on 31 December 2017. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2017 will be £ 60,000 .

DIRECTOR

David Ian Stapley held office during the whole of the period from 1 January 2017 to the date of this report.

ON BEHALF OF THE BOARD:

David Ian Stapley - Director

25 April 2018

TURNOVER

482,580

460,326

Cost of sales

25,145

24,239

GROSS PROFIT

457,435

436,087

Administrative expenses

298,238

265,657

159,197

170,430

Other operating income

7,969

1,633

OPERATING PROFIT and

PROFIT BEFORE TAXATION

4

167,166

172,063

Tax on profit

32,096

34,650

PROFIT FOR THE FINANCIAL YEAR

135,070

137,413

FIXED ASSETS

Intangible assets

5

4,011

4,011

Tangible assets

6

93,293

80,008

97,304

84,019

CURRENT ASSETS

Stocks

171,841

121,487

Debtors

7

62,397

64,714

Prepayments and accrued income

3,750

3,750

Cash at bank

371,994

339,162

609,982

529,113

CREDITORS

Amounts falling due within one year

8

297,432

280,106

NET CURRENT ASSETS

312,550

249,007

TOTAL ASSETS LESS CURRENT LIABILITIES

409,854

333,026

PROVISIONS FOR LIABILITIES

17,726

15,968

NET ASSETS

392,128

317,058

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

392,126

317,056

SHAREHOLDERS' FUNDS

392,128

317,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 April 2018 and were signed by:

David Ian Stapley - Director

1.	STATUTORY INFORMATION

International Sports Brands Limited is a private company, limited by shares , registered in Not

specified/Other. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 4 (2016 - 4 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.17

31.12.16

£

£

Depreciation - owned assets

47,464

29,095

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

79,530

4,010

83,540

AMORTISATION

At 1 January 2017

and 31 December 2017

79,529

-

79,529

NET BOOK VALUE

At 31 December 2017

1

4,010

4,011

At 31 December 2016

1

4,010

4,011

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

20,800

99,805

15,196

135,801

Additions

1,347

51,807

18,126

71,280

Disposals

-

(41,883

)

-

(41,883

)

At 31 December 2017

22,147

109,729

33,322

165,198

DEPRECIATION

At 1 January 2017

10,155

35,275

10,363

55,793

Charge for year

3,885

37,805

5,774

47,464

Eliminated on disposal

-

(31,352

)

-

(31,352

)

At 31 December 2017

14,040

41,728

16,137

71,905

NET BOOK VALUE

At 31 December 2017

8,107

68,001

17,185

93,293

At 31 December 2016

10,645

64,530

4,833

80,008

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

35,577

32,441

Other debtors

26,820

32,273

62,397

64,714

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

121,280

86,037

Taxation and social security

34,075

37,649

Other creditors

142,077

156,420

297,432

280,106

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017

and 31 December 2016:

31.12.17

31.12.16

£

£

David Ian Stapley

Balance outstanding at start of year

64,397

64,379

Amounts advanced

85,000

56,000

Amounts repaid

(84,549

)

(55,982

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

64,848

64,397

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2016 - £36,000) were paid to the director .

11.	ULTIMATE CONTROLLING PARTY

The director considers that he is the company's ultimate controlling party.