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REGISTERED NUMBER: 08704708 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Balba North East Limited

Balba North East Limited (Registered number: 08704708)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Balba North East Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Manjinder Singh
Mrs Mandip Kaur





SECRETARY:





REGISTERED OFFICE: Shibdon View
Shibdon Road
Blaydon On Tyne
Tyne and Wear
NE21 5NW





REGISTERED NUMBER: 08704708 (England and Wales)





ACCOUNTANTS: Flannagans - Gateshead
7 Bankside
The Watermark
Gateshead
NE11 9SY

Balba North East Limited (Registered number: 08704708)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,000 31,000
Tangible assets 5 312,817 288,549
329,817 319,549

CURRENT ASSETS
Stocks 58,600 54,500
Debtors: amounts falling due within one year 15,018 1,601
Cash at bank and in hand 66,653 227,987
140,271 284,088
CREDITORS
Amounts falling due within one year 52,028 110,670
NET CURRENT ASSETS 88,243 173,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,060

492,967

CREDITORS
Amounts falling due after more than one year 91,425 242,088
NET ASSETS 326,635 250,879

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 326,633 250,877
SHAREHOLDERS' FUNDS 326,635 250,879

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.

Balba North East Limited (Registered number: 08704708)

Abridged 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 August 2024 and were signed on its behalf by:





Mr Manjinder Singh - Director


Balba North East Limited (Registered number: 08704708)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Balba North East Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

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.

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.

Balba North East Limited (Registered number: 08704708)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 140,000
AMORTISATION
At 1 April 2023 109,000
Amortisation for year 14,000
At 31 March 2024 123,000
NET BOOK VALUE

At 31 March 2024 17,000
At 31 March 2023 31,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 359,492
Additions 31,536
At 31 March 2024 391,028
DEPRECIATION
At 1 April 2023 70,943
Charge for year 7,268
At 31 March 2024 78,211
NET BOOK VALUE
At 31 March 2024 312,817
At 31 March 2023 288,549

Balba North East Limited (Registered number: 08704708)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Manjinder Singh.

7. BINDY LTD

During the period all the loans made between related parties were interest free and repayable on demand.
During the period Balba North East Ltd has the association with the following company.

Bindy Ltd amount owed by £13,034