2022-04-012023-03-312023-03-31false11429529BABA LABS 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BABA LABS LIMITED

Registered Number
11429529
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

BABA LABS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

LEAHY, Morgan John
SHANAHAN, John

Company Secretary

DAVENPORT, Scott Piers

Registered Address

53 King Street
Manchester
M2 4LQ

Registered Number

11429529 (England and Wales)
BABA LABS LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors13,9594,199
Cash at bank and on hand56111
14,5204,210
Creditors amounts falling due within one year6(3,236)(24)
Net current assets (liabilities)11,2844,186
Total assets less current liabilities11,2844,186
Creditors amounts falling due after one year7(58,580)-
Net assets(47,296)4,186
Capital and reserves
Called up share capital11
Profit and loss account(47,297)4,185
Shareholders' funds(47,296)4,186
The financial statements were approved and authorised for issue by the Board of Directors on 29 November 2023, and are signed on its behalf by:
SHANAHAN, John
Director
Registered Company No. 11429529
BABA LABS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information
0 employees within the year

20232022
Average number of employees during the year00
5.Debtors within one year

2023

2022

££
Trade debtors / trade receivables9,225-
Other debtors4,73420
Total13,95920
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors within one year

2023

2022

££
Trade creditors / trade payables3,23624
Total3,23624
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors after one year

2023

2022

££
Amounts owed to related parties58,580-
Total58,580-