IRIS Accounts Production v24.1.9.2 SC246386 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false 40410 67137 207 130051 52452 22504 11835 40410 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2463862023-03-31SC2463862024-03-31SC2463862023-04-012024-03-31SC2463862022-03-31SC2463862022-04-012023-03-31SC2463862023-03-31SC246386ns15:Scotland2023-04-012024-03-31SC246386ns14:PoundSterling2023-04-012024-03-31SC246386ns10:Director12023-04-012024-03-31SC246386ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC246386ns10:SmallEntities2023-04-012024-03-31SC246386ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC246386ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC246386ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC246386ns10:FullAccounts2023-04-012024-03-31SC24638642ns10:Director22023-03-31SC24638642ns10:Director22022-03-31SC24638642ns10:Director22023-04-012024-03-31SC24638642ns10:Director22022-04-012023-03-31SC24638642ns10:Director22024-03-31SC24638642ns10:Director22023-03-31SC246386ns10:Director22023-04-012024-03-31SC246386ns10:RegisteredOffice2023-04-012024-03-31SC246386ns5:CurrentFinancialInstruments2024-03-31SC246386ns5:CurrentFinancialInstruments2023-03-31SC246386ns5:ShareCapital2024-03-31SC246386ns5:ShareCapital2023-03-31SC246386ns5:RetainedEarningsAccumulatedLosses2024-03-31SC246386ns5:RetainedEarningsAccumulatedLosses2023-03-31SC246386ns5:LeaseholdImprovements2023-04-012024-03-31SC246386ns5:PlantMachinery2023-04-012024-03-31SC246386ns5:FurnitureFittings2023-04-012024-03-31SC246386ns5:LeaseholdImprovements2023-03-31SC246386ns5:PlantMachinery2023-03-31SC246386ns5:FurnitureFittings2023-03-31SC246386ns5:LeaseholdImprovements2024-03-31SC246386ns5:PlantMachinery2024-03-31SC246386ns5:FurnitureFittings2024-03-31SC246386ns5:LeaseholdImprovements2023-03-31SC246386ns5:PlantMachinery2023-03-31SC246386ns5:FurnitureFittings2023-03-31SC246386ns5:CostValuation2023-03-31SC246386ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC246386ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC246386ns5:DeferredTaxation2023-03-31SC246386ns5:DeferredTaxation2023-04-012024-03-31SC246386ns5:DeferredTaxation2024-03-31SC2463861ns10:Director12023-03-31SC2463861ns10:Director12022-03-31SC2463861ns10:Director12023-04-012024-03-31SC2463861ns10:Director12022-04-012023-03-31SC2463861ns10:Director12024-03-31SC2463861ns10:Director12023-03-31
REGISTERED NUMBER: SC246386 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BILL BABER LIMITED

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BILL BABER LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: W J L Baber
H N Baber





REGISTERED OFFICE: 66 Grassmarket
Edinburgh
EH1 2JR





REGISTERED NUMBER: SC246386 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,342 27,995
Investments 5 28,790 28,790
59,132 56,785

CURRENT ASSETS
Stocks 55,493 51,664
Debtors 6 2,006 41,058
Cash at bank and in hand 216,007 67,620
273,506 160,342
CREDITORS
Amounts falling due within one year 7 53,356 34,738
NET CURRENT ASSETS 220,150 125,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,282

182,389

PROVISIONS FOR LIABILITIES 8 5,727 4,058
NET ASSETS 273,555 178,331

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 273,553 178,329
SHAREHOLDERS' FUNDS 273,555 178,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





W J L Baber - Director


BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Bill Baber Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
Turnover represents invoiced sale of goods for the design and sale of knitwear, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Property improvements - 10% on reducing balance
Plant and machinery - 25% per annum reducing balance
Fixtures and fittings - 25% per annum reducing balance

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENTS
Investments are stated at cost less any provision for impairment.

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

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

FOREIGN CURRENCIES
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Property Plant and and
improvements machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 19,642 77,562 13,358 110,562
Additions - 10,756 - 10,756
At 31 March 2024 19,642 88,318 13,358 121,318
DEPRECIATION
At 1 April 2023 11,116 59,857 11,594 82,567
Charge for year 853 7,115 441 8,409
At 31 March 2024 11,969 66,972 12,035 90,976
NET BOOK VALUE
At 31 March 2024 7,673 21,346 1,323 30,342
At 31 March 2023 8,526 17,705 1,764 27,995

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 68,224
PROVISIONS
At 1 April 2023
and 31 March 2024 39,434
NET BOOK VALUE
At 31 March 2024 28,790
At 31 March 2023 28,790

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,006 41,058

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 84 369
Taxation and social security 38,897 31,708
Other creditors 14,375 2,661
53,356 34,738

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,727 4,058

Deferred
tax
£   
Balance at 1 April 2023 4,058
Charge to Statement of Income and Retained Earnings during year 1,669
Balance at 31 March 2024 5,727

BILL BABER LIMITED (REGISTERED NUMBER: SC246386)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
W J L Baber and H N Baber
Balance outstanding at start of year 40,410 (67,137 )
Amounts advanced 207 130,051
Amounts repaid (52,452 ) (22,504 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,835 ) 40,410

The loan attracts interest of 2% and 2.25% on overdrawn balances over £10,000. The loan is repayable on demand.