REGISTERED NUMBER: 13395984 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Babila Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Casarini

SECRETARY:

REGISTERED OFFICE:

3rd Floor 207 Regent Street

London

W1B 3HH

REGISTERED NUMBER:

13395984 (England and Wales)

ACCOUNTANTS:

Brookstone Accountancy Limited

3rd Floor

207 Regent Street

London

W1B 3HH

FIXED ASSETS

Intangible assets

4

2,835

3,780

Tangible assets

5

3,244

2,807

6,079

6,587

CURRENT ASSETS

Debtors

6

1,800

-

Cash at bank

127,579

127,577

129,379

127,577

CREDITORS

Amounts falling due within one year

7

22,728

47,983

NET CURRENT ASSETS

106,651

79,594

TOTAL ASSETS LESS CURRENT LIABILITIES

112,730

86,181

PROVISIONS FOR LIABILITIES

747

549

NET ASSETS

111,983

85,632

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

111,883

85,532

SHAREHOLDERS' FUNDS

111,983

85,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:

Mr M Casarini - Director

1.	STATUTORY INFORMATION

Babila Limited is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 June 2022

and 31 May 2023

4,725

AMORTISATION

At 1 June 2022

945

Amortisation for year

945

At 31 May 2023

1,890

NET BOOK VALUE

At 31 May 2023

2,835

At 31 May 2022

3,780

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2022

1,509

2,511

4,020

Additions

2,200

-

2,200

At 31 May 2023

3,709

2,511

6,220

DEPRECIATION

At 1 June 2022

377

836

1,213

Charge for year

927

836

1,763

At 31 May 2023

1,304

1,672

2,976

NET BOOK VALUE

At 31 May 2023

2,405

839

3,244

At 31 May 2022

1,132

1,675

2,807

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

1,800

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade creditors

157

458

Tax

16,085

27,191

VAT

5,456

19,734

Other creditors

31

-

Directors' loan accounts

399

-

Accrued expenses

600

600

22,728

47,983

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

100

Ordinary

£ 1

100

100

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Casarini.