Babel Public Relations Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 05887060 (England and Wales)
Babel Public Relations Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Babel Public Relations Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,848
17,468
Current assets
Debtors
4
350,131
220,320
Cash at bank and in hand
1,369,553
1,190,913
1,719,684
1,411,233
Creditors: amounts falling due within one year
5
(458,507)
(524,654)
Net current assets
1,261,177
886,579
Net assets
1,280,025
904,047
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
1,279,925
903,947
Total equity
1,280,025
904,047

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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 30 April 2024 and are signed on its behalf by:
N Morrison
Director
Company Registration No. 05887060
Babel Public Relations Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Babel Public Relations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bolsover House, 5 - 6 Clipstone Street, London, W1W 6BB.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the

company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

 

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

Babel Public Relations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3

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:

Short-term leasehold property
Over the length of the lease
Fixtures and fittings
25% straight line
Computers
3 years straight line

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
Cash at bank and in hand

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.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Babel Public Relations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
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 (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
28
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
62,255
193,477
255,732
Additions
-
0
10,603
10,603
At 31 December 2023
62,255
204,080
266,335
Depreciation and impairment
At 1 January 2023
62,255
176,009
238,264
Depreciation charged in the year
-
0
9,223
9,223
At 31 December 2023
62,255
185,232
247,487
Carrying amount
At 31 December 2023
-
0
18,848
18,848
At 31 December 2022
-
0
17,468
17,468
Babel Public Relations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
270,329
173,944
Other debtors
32,724
7,117
Prepayments and accrued income
47,078
39,259
350,131
220,320
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,654
4,385
Corporation tax
121,325
109,178
Other taxation and social security
112,882
238,475
Other creditors
1,752
3,113
Accruals and deferred income
214,894
169,503
458,507
524,654

There is a fixed and floating charge over the assets of the company in favour of Lloyds Tsb Bank PLC.

 

There is a charge over the companies assets held by Richform Estates Ltd to secure the rent deposit.

6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
100,000
100,000
100
100
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
110,182
62,157
Between two and five years
293,819
327,001
404,001
389,158
Babel Public Relations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
8
Related party transactions

During the year, the company paid dividends of £nil (2022: £160,000) to the directors of the company.

 

As at the year end, the company was owed £19,151 by (2022: £849 owed to) the directors.

9
Control
The company is controlled by the directors and there is no overall controlling party.
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