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
BARAM U.K. LTD
Company Information
for the year ended 31 December 2023
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
BARAM U.K. LTD
Statement of financial position
as at 31 December 2023
Tangible assets
6,798
7,714
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)
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
BARAM U.K. LTD
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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.
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
At 31 December 2023
5,269
5,998
11,267
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
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
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.
By virtue of its relevant legal entity's 100% shareholding the immediate parent undertaking is Baram Intec Co. Ltd in South Korea.
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Average number of employees
During the year the average number of employees was 0 (2022: 0).