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Registration number: 07733505

Baloo Real Estate Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2021

 

Baloo Real Estate Limited

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Baloo Real Estate Limited

Company Information

Director

R. G Verden

Company secretary

Lincoln Secretaries Limited

Registered office

12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP

 

Baloo Real Estate Limited

Director's Report for the Year Ended 31 December 2021

The director presents his report and the abridged financial statements for the year ended 31 December 2021.

Director of the company

The director who held office during the year was as follows:

R. G Verden

Principal activity

The principal activity of the company is that of an head office.

Small companies provision statement

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.

Approved and authorised by the director on 26 August 2022
 

.........................................
Lincoln Secretaries Limited
Company secretary

 

Baloo Real Estate Limited

(Registration number: 07733505)
Abridged Statement of Financial Position as at 31 December 2021

Note

2021

2020

Fixed assets

 

Tangible assets

4

300,000

300,000

Current assets

 

Stocks

5

1,835,520

1,328,227

Cash at bank and in hand

 

170,838

182,370

 

2,006,358

1,510,597

Creditors: Amounts falling due within one year

(2,314,875)

(1,846,946)

Net current liabilities

 

(308,517)

(336,349)

Net liabilities

 

(8,517)

(36,349)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(8,617)

(36,449)

Shareholders' deficit

 

(8,517)

(36,349)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 26 August 2022
 

.........................................
R. G Verden
Director

 

Baloo Real Estate Limited

Statement of Changes in Equity for the Year Ended 31 December 2021

Share capital

Profit and loss account

Total

At 1 January 2021

100

(36,449)

(36,349)

Profit for the year

-

27,832

27,832

Total comprehensive income

-

27,832

27,832

At 31 December 2021

100

(8,617)

(8,517)

Share capital

Profit and loss account

Total

At 1 January 2020

100

(32,583)

(32,483)

Loss for the year

-

(3,866)

(3,866)

Total comprehensive income

-

(3,866)

(3,866)

At 31 December 2020

100

(36,449)

(36,349)

 

Baloo Real Estate Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP

These financial statements were authorised for issue by the director on 26 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary
assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date.
All exchange differences are included in the profit and loss account.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Baloo Real Estate Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

 

Baloo Real Estate Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Land and buildings

Total

Cost or valuation

At 1 January 2021

300,000

300,000

At 31 December 2021

300,000

300,000

Depreciation

Carrying amount

At 31 December 2021

300,000

300,000

At 31 December 2020

300,000

300,000

Included within the net book value of land and buildings above is €300,000 (2020 - €300,000) in respect of freehold land and buildings.
 

5

Stocks

2021

2020

Work in progress

1,835,520

1,328,227