Company registration number 12230281 (England and Wales)
PUREBABY TRADING UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
PUREBABY TRADING UK LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
PUREBABY TRADING UK LIMITED
COMPANY INFORMATION
- 1 -
Directors
Ms Mirabai Winford
Mr Sanjay Gill
Company number
12230281
Registered office
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
PUREBABY TRADING UK LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,341
23,709
Current assets
Stocks
15,731
-
Debtors
4
57,165
243,460
Cash at bank and in hand
100,760
6,896
173,656
250,356
Creditors: amounts falling due within one year
5
(240,266)
(295,284)
Net current liabilities
(66,610)
(44,928)
Total assets less current liabilities
(37,269)
(21,219)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(37,279)
(21,229)
Total equity
(37,269)
(21,219)
PUREBABY TRADING UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 October 2023 and are signed on its behalf by:
Ms Mirabai Winford
Mr Sanjay Gill
Director
Director
Company Registration No. 12230281
The notes on pages 4 to 9 form part of these financial statements
PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information

Purebaby Trading UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Granary, Hones Yard, 1 Waverley Lane, Farnham, Surrey, GU9 8BB.

1.1
Reporting period

In the prior year the company changed its accounting reference period to June to align with that of its group. Accordingly the comparatives within these financial statements present information for the 9 months ended 30 June 2022, whilst the current period presents information for the 12 months ended 30 June 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 

In the prior year the company changed its accounting reference period to June to align with that of its group. Accordingly the comparatives within these financial statements present information for the 9 months ended 30 June 2022, whilst the current period presents information for the 12 months ended 30 June 2023.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.. The principal accounting policies adopted are set out below.

1.3
Going concern

To date, the company's operations have been funded by borrowings from the parent company. Included within trade creditors are amounts owed to group undertakings of £204,116, which are informal borrowings, unsecured, with no specified repayment terms and incur no interest. Because they are informal borrowings they are presented within creditors due within one year. However the directors have received assurances from the group that the group will not seek repayment of these borrowings faster than the company can afford to repay them, and that the group will continue to provide funding to the extent the company requires for the continuance of the company's operations. true

 

Hence at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the customers receipt of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20-30% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade creditors, other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 July 2022
25,540
Additions
12,231
At 30 June 2023
37,771
Depreciation and impairment
At 1 July 2022
1,831
Depreciation charged in the year
6,599
At 30 June 2023
8,430
Carrying amount
At 30 June 2023
29,341
At 30 June 2022
23,709
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
51,729
235,804
Other debtors
5,436
7,656
57,165
243,460
PUREBABY TRADING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
205,424
280,665
Other creditors
34,842
14,619
240,266
295,284

Included within Trade creditors are £204,116 (2022 - £269,027) of amounts owed to group undertakings, which are informal unsecured borrowings, with no specified repayment terms and incur no interest. Because they are informal borrowings they are presented within creditors due within one year. However the directors have received assurances from the group that the group will not seek repayment of these borrowings faster than the company can afford to repay.

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
7
Parent company

The company is a wholly owned subsidiary of Purebaby Pty Ltd an entity incorporated in Australia, with registered office at 135 Cromwell Street, Collingwood, Victoria 3066, Australia.

 

The ultimate parent undertaking is Wingill Pty Ltd, a company incorporated in Australia, within which there is no single controlling party.

8
Related party transactions

The company has applied the exemptions available with Section 33.1A of FRS 102 not to disclose transactions with fellow wholly owned members of the Purebaby Pty Ltd group.

2023-06-302022-07-01false20 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMs Mirabai WinfordMr Sanjay Gill122302812022-07-012023-06-3012230281bus:Director12022-07-012023-06-3012230281bus:Director22022-07-012023-06-3012230281bus:RegisteredOffice2022-07-012023-06-30122302812023-06-30122302812022-06-3012230281core:FurnitureFittings2023-06-3012230281core:FurnitureFittings2022-06-3012230281core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3012230281core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3012230281core:CurrentFinancialInstruments2023-06-3012230281core:CurrentFinancialInstruments2022-06-3012230281core:ShareCapital2023-06-3012230281core:ShareCapital2022-06-3012230281core:RetainedEarningsAccumulatedLosses2023-06-3012230281core:RetainedEarningsAccumulatedLosses2022-06-3012230281core:FurnitureFittings2022-07-012023-06-30122302812021-10-012022-06-3012230281core:FurnitureFittings2022-06-3012230281core:WithinOneYear2023-06-3012230281core:WithinOneYear2022-06-3012230281bus:PrivateLimitedCompanyLtd2022-07-012023-06-3012230281bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3012230281bus:FRS1022022-07-012023-06-3012230281bus:Audited2022-07-012023-06-3012230281bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP