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Registration number: 10406002

Talibri Kids Wear Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Talibri Kids Wear Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Talibri Kids Wear Ltd.

Company Information

Director

Natasha Yates

Registered office

40 Brigantine Grove
Newport
NP10 8ET

Accountants

AIMS Accountants for Business
 
C12
12 Cathedral Road
Cardiff
CF11 9LJ

 

Talibri Kids Wear Ltd.

(Registration number: 10406002)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,185

5,580

Current assets

 

Stocks

5

4,200

4,200

Debtors

6

1,145

392

Cash at bank and in hand

 

3

281

 

5,348

4,873

Creditors: Amounts falling due within one year

7

(18,036)

(13,859)

Net current liabilities

 

(12,688)

(8,986)

Total assets less current liabilities

 

(8,503)

(3,406)

Creditors: Amounts falling due after more than one year

7

(3,675)

(3,800)

Net liabilities

 

(12,178)

(7,206)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(12,278)

(7,306)

Shareholders' deficit

 

(12,178)

(7,206)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 February 2024
 

 

Talibri Kids Wear Ltd.

(Registration number: 10406002)
Balance Sheet as at 31 October 2023

.........................................
Natasha Yates
Director

 

Talibri Kids Wear Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in the UK.

The address of its registered office is:
40 Brigantine Grove
Newport
NP10 8ET

These financial statements were authorised for issue by the director on 1 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% of reducing balance

 

Talibri Kids Wear Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Talibri Kids Wear Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Talibri Kids Wear Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

12,862

12,862

At 31 October 2023

12,862

12,862

Depreciation

At 1 November 2022

7,282

7,282

Charge for the year

1,395

1,395

At 31 October 2023

8,677

8,677

Carrying amount

At 31 October 2023

4,185

4,185

At 31 October 2022

5,580

5,580

5

Stocks

2023
£

2022
£

Other inventories

4,200

4,200

6

Debtors

Current

2023
£

2022
£

Other debtors

1,145

392

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,864

1,361

Other creditors

 

16,172

12,498

 

18,036

13,859

Creditors: amounts falling due after more than one year

 

Talibri Kids Wear Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

3,675

3,800

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

3,675

3,800

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,242

1,361

Bank overdrafts

29

-

Other borrowings

593

-

1,864

1,361