Company Registration No. 11868369 (England and Wales)
BABEF LTD
Unaudited accounts
for the year ended 31 March 2022
BABEF LTD
Unaudited accounts
Contents
BABEF LTD
Company Information
for the year ended 31 March 2022
Company Number
11868369 (England and Wales)
Registered Office
Unit 4, Impulse House
Westgate Hill Street
Bradford
West Yorkshire
BD4 0SJ
Accountants
B Ram & Co Accountants
7 Idle Road
Bradford
BD2 4QA
BABEF LTD
Statement of financial position
as at 31 March 2022
Tangible assets
27,927
34,047
Cash at bank and in hand
692
8,108
Creditors: amounts falling due within one year
(13,833)
(9,292)
Net current (liabilities)/assets
(4,891)
3,085
Total assets less current liabilities
23,036
37,132
Creditors: amounts falling due after more than one year
(46,084)
(50,000)
Net liabilities
(23,048)
(12,868)
Called up share capital
1
1
Profit and loss account
(23,049)
(12,869)
Shareholders' funds
(23,048)
(12,868)
For the year ending 31 March 2022 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 September 2022 and were signed on its behalf by
Behzad Mahmoudi
Director
Company Registration No. 11868369
BABEF LTD
Notes to the Accounts
for the year ended 31 March 2022
BABEF LTD is a private company, limited by shares, registered in England and Wales, registration number 11868369. The registered office is Unit 4, Impulse House, Westgate Hill Street, Bradford, West Yorkshire, BD4 0SJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
15% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
BABEF LTD
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2021
43,881
-
43,881
At 31 March 2022
44,081
622
44,703
At 1 April 2021
9,834
-
9,834
Charge for the year
6,849
93
6,942
At 31 March 2022
16,683
93
16,776
At 31 March 2022
27,398
529
27,927
At 31 March 2021
34,047
-
34,047
5
Debtors: amounts falling due within one year
2022
2021
Deferred tax asset
4,338
3,019
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
244
-
Loans from directors
8,209
8,266
7
Creditors: amounts falling due after more than one year
2022
2021
BABEF LTD
Notes to the Accounts
for the year ended 31 March 2022
8
Deferred taxation
2022
2021
Accelerated capital allowances
4,120
5,439
Tax losses carried forward
(8,458)
(8,458)
Provision at start of year
(3,019)
-
Credited to the profit and loss account
(1,319)
(3,019)
Provision at end of year
(4,338)
(3,019)
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).