Company Registration No. 11469041 (England and Wales)
BABOSIK LTD
Accounts
for the year ended 31 July 2023
BABOSIK LTD
Company Information
for the year ended 31 July 2023
Company Number
11469041 (England and Wales)
Registered Office
3 PENTIRE CLOSE
BILSTON
WV14 8GE
UNITED KINGDOM
Accountants
ABN Accounting Limited
85 Great Portland Street
First Floor
London
United Kingdom
W1W 7LT
BABOSIK LTD
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
316
(467)
Creditors: amounts falling due within one year
-
(6,807)
Net current assets/(liabilities)
316
(14,738)
Total assets less current liabilities
316
(14,498)
Creditors: amounts falling due after more than one year
(18,827)
-
Net liabilities
(18,511)
(14,498)
Called up share capital
100
100
Profit and loss account
(18,611)
(14,598)
Shareholders' funds
(18,511)
(14,498)
For the year ending 31 July 2023 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 10 November 2023 and were signed on its behalf by
Sergejs Rabizo
Director
Company Registration No. 11469041
BABOSIK LTD
Notes to the Accounts
for the year ended 31 July 2023
BABOSIK LTD is a private company, limited by shares, registered in England and Wales, registration number 11469041. The registered office is 3 PENTIRE CLOSE, BILSTON, WV14 8GE, UNITED KINGDOM.
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.
These financial statements have been prepared in compliance with FRS 102 ? The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The accounts are presented in £ sterling.
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
BABOSIK LTD
Notes to the Accounts
for the year ended 31 July 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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:
Computer equipment
Straight line depreciation 20%
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.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
5,801
Taxes and social security
-
35
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
18,827
-
BABOSIK LTD
Notes to the Accounts
for the year ended 31 July 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).