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REGISTERED NUMBER: 09912956 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2023

for

MY BABY ENTERPRISES LTD

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MY BABY ENTERPRISES LTD

Company Information
for the Year Ended 31st May 2023







DIRECTORS: Mrs S Catterall
Mr C Catterall





REGISTERED OFFICE: 18 St Georges Street
Chorley
Lancashire
PR7 2AA





REGISTERED NUMBER: 09912956 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,582 56,977

CURRENT ASSETS
Stocks 1,250 700
Debtors 5 1,341 1,658
Cash at bank 24,975 18,849
27,566 21,207
CREDITORS
Amounts falling due within one year 6 45,847 38,082
NET CURRENT LIABILITIES (18,281 ) (16,875 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,301

40,102

CREDITORS
Amounts falling due after more than one
year

7

53,473

74,092
NET LIABILITIES (26,172 ) (33,990 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (26,272 ) (34,090 )
SHAREHOLDERS' FUNDS (26,172 ) (33,990 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Balance Sheet - continued
31st May 2023


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 Board of Directors and authorised for issue on 31st January 2024 and were signed on its behalf by:





Mrs S Catterall - Director


MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

My Baby Enterprises Ltd 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.
Revenue is recognised when services have been provided to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st June 2022
and 31st May 2023 84,735
DEPRECIATION
At 1st June 2022 27,758
Charge for year 11,395
At 31st May 2023 39,153
NET BOOK VALUE
At 31st May 2023 45,582
At 31st May 2022 56,977

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st June 2022
and 31st May 2023 65,500
DEPRECIATION
At 1st June 2022 15,616
Charge for year 11,317
At 31st May 2023 26,933
NET BOOK VALUE
At 31st May 2023 38,567
At 31st May 2022 49,884

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 1,341 881
VAT - 777
1,341 1,658

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 4,160 4,160
Hire purchase contracts (see note 8) 16,619 16,764
Trade creditors 5,695 4,223
Social security and other taxes 1,311 2,980
VAT 8,023 -
Other creditors 145 194
Directors' current accounts 8,758 8,596
Accrued expenses 1,136 1,165
45,847 38,082

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 1-2 years 4,159 4,160
Bank loans - 2-5 years 12,480 12,480
Bank loans more 5 yr by instal 8,320 12,479
Hire purchase contracts (see note 8) 28,514 44,973
53,473 74,092

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,320 12,479

The bank loan has been provided under the Bounce Back loan scheme.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.23 31.5.22
£    £   
Net obligations repayable:
Within one year 16,619 16,764
Between one and five years 28,514 44,973
45,133 61,737

Non-cancellable operating leases
31.5.23 31.5.22
£    £   
Within one year 10,375 19,458
Between one and five years 7,500 27,875
17,875 47,333

MY BABY ENTERPRISES LTD (REGISTERED NUMBER: 09912956)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 45,133 61,737

Liabilities due under Hire purchase contracts are secured against the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

At the 31st May 2023, the company owed £8,758 to its directors (2022: £8,596). No interest has been charged to the company in respect of this loan and it is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

Throughout the current and previous financial year, Mrs S Catterall and Mr C Catterall have controlled the company by virtue of their 75% shareholding.