Registered Number 03674598

INTERNATIONAL BRANDS LIMITED

Abbreviated Accounts

31 December 2015

INTERNATIONAL BRANDS LIMITED Registered Number 03674598

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets - -
Tangible assets 2 326,480 328,207
Investments - -
326,480 328,207
Current assets
Stocks 404,435 569,380
Debtors 2,257,090 2,228,098
Investments - -
Cash at bank and in hand 106,689 127,338
2,768,214 2,924,816
Prepayments and accrued income - -
Creditors: amounts falling due within one year (2,386,284) (2,484,160)
Net current assets (liabilities) 381,930 440,656
Total assets less current liabilities 708,410 768,863
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) 708,410 768,863
Capital and reserves
Called up share capital 100 100
Share premium account 0 0
Revaluation reserve 0 0
Other reserves 0 0
Profit and loss account 708,310 768,763
Shareholders' funds 708,410 768,863
  • For the year ending 31 December 2015 the company was entitled to exemption 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 directors acknowledge their 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.

Approved by the Board on 21 September 2016

And signed on their behalf by:
S Singh, Director

INTERNATIONAL BRANDS LIMITED Registered Number 03674598

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold none
Fixtures, fittings & equipment 25% of written down value
Motor vehicles 25% of written down value

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease
term.
Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 January 2015 377,267
Additions 1,401
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2015 378,668
Depreciation
At 1 January 2015 49,060
Charge for the year 3,128
On disposals -
At 31 December 2015 52,188
Net book values
At 31 December 2015 326,480
At 31 December 2014 328,207