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Company Registration No. SC648967 (Scotland)
BARAM U.K. LTD Unaudited accounts for the year ended 31 December 2023
BARAM U.K. LTD Unaudited accounts Contents
Page
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BARAM U.K. LTD Company Information for the year ended 31 December 2023
Director
Mrs IN SUK CHOI
Company Number
SC648967 (Scotland)
Registered Office
23 Garthdee Farm Gardens Aberdeen AB10 7GF Scotland
Accountants
FURUICHOI & CO Chartered Accountants 69 Station Road Hampton Greater London TW12 2BT
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BARAM U.K. LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,798 
7,714 
Current assets
Cash at bank and in hand
16,409 
12,779 
Creditors: amounts falling due within one year
(12,062)
(12,647)
Net current assets
4,347 
132 
Total assets less current liabilities
11,145 
7,846 
Creditors: amounts falling due after more than one year
(157,199)
(103,715)
Net liabilities
(146,054)
(95,869)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(146,154)
(95,969)
Shareholders' funds
(146,054)
(95,869)
For the year ending 31 December 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 her 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 4 September 2024 and were signed on its behalf by
Mrs IN SUK CHOI Director Company Registration No. SC648967
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BARAM U.K. LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
BARAM U.K. LTD is a private company, limited by shares, registered in Scotland, registration number SC648967. The registered office is 23 Garthdee Farm Gardens, Aberdeen, AB10 7GF, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction.
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:
Fixtures & fittings
15% reducing balance
Computer equipment
20% reducing balance
Going concern
The director has reasonable expectation that the Company has adequate resources from its parent company in South Korea to continue in operational existence in the UK for the foreseeable future. Accordingly, they have prepared the financial statements under the going concern basis.
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BARAM U.K. LTD Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
4,535 
5,998 
10,533 
Additions
734 
- 
734 
At 31 December 2023
5,269 
5,998 
11,267 
Depreciation
At 1 January 2023
1,123 
1,696 
2,819 
Charge for the year
790 
860 
1,650 
At 31 December 2023
1,913 
2,556 
4,469 
Net book value
At 31 December 2023
3,356 
3,442 
6,798 
At 31 December 2022
3,412 
4,302 
7,714 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
9,051 
9,051 
Accruals
3,011 
3,596 
12,062 
12,647 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
157,199 
103,715 
The parent entity in South Korea has funded GBP 157,199 since its UK subsidiary incorporation.
7
Controlling party
By virtue of its relevant legal entity's 100% shareholding the immediate parent undertaking is Baram Intec Co. Ltd in South Korea.
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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