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REGISTERED NUMBER: 04524676















Financial statements for the year ended 31 December 2023

For

Milan Babic Architects Limited

Milan Babic Architects Limited (Registered number: 04524676)

Contents of the financial statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 4

Notes to the Financial Statements 6


Milan Babic Architects Limited

Company information
for the Year Ended 31 December 2023







DIRECTOR: Mr M Babic





REGISTERED OFFICE: Parker Russell, Level 30
The Leadenhall Building
122 Leadenhall Street
City of London
EC3V 4AB





REGISTERED NUMBER: 04524676





ACCOUNTANTS: Parker Russell UK
Chartered Accountants
Level 30
The Leadenhall Building
122 Leadenhall Street
City of London
EC3V 4AB

Chartered accountants' report to the director
On the unaudited financial statements of
Milan babic architects limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Milan Babic Architects Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Milan Babic Architects Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Milan Babic Architects Limited and state those matters that we have agreed to state to the director of Milan Babic Architects Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Milan Babic Architects Limited and its director for our work or for this report.

It is your duty to ensure that Milan Babic Architects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Milan Babic Architects Limited. You consider that Milan Babic Architects Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Milan Babic Architects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Parker Russell UK
Chartered Accountants
Level 30
The Leadenhall Building

Chartered accountants' report to the director
On the unaudited financial statements of
Milan babic architects limited


122 Leadenhall Street
City of London
EC3V 4AB


16 September 2024

Milan Babic Architects Limited (Registered number: 04524676)

Balance sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 15,127 16,808

Current assets
Stocks 5 55,885 55,885
Debtors 6 53,914 51,620
Cash at bank 148,224 217,637
258,023 325,142
Creditors
Amounts falling due within one year 7 171,556 181,795
Net current assets 86,467 143,347
Total assets less current liabilities 101,594 160,155

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 101,494 160,055
Shareholders' funds 101,594 160,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Milan Babic Architects Limited (Registered number: 04524676)

Balance sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





Mr M Babic - Director


Milan Babic Architects Limited (Registered number: 04524676)

Notes to the financial statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Milan Babic Architects Limited is a private company, limited by shares , registered in Not specified/Other. 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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Milan Babic Architects Limited (Registered number: 04524676)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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.

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 4 (2022 - 7 ) .

Milan Babic Architects Limited (Registered number: 04524676)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 60,966
DEPRECIATION
At 1 January 2023 44,158
Charge for year 1,681
At 31 December 2023 45,839
NET BOOK VALUE
At 31 December 2023 15,127
At 31 December 2022 16,808

5. STOCKS
31.12.23 31.12.22
£    £   
Work-in-progress 55,885 55,885

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 19,200 1,066
Prepayments 18,960 18,960
38,160 20,026

Amounts falling due after more than one year:
Other debtors 15,754 31,594

Aggregate amounts 53,914 51,620

Milan Babic Architects Limited (Registered number: 04524676)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans (see note 8) 30,833 40,239
Trade creditors 20 2,947
Social security and other taxes 746 4,126
VAT 21,122 34,470
Credit Cards 1,030 -
Accrued expenses 117,805 100,013
171,556 181,795

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Covid Loan 30,833 40,239

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2023 160,055
Deficit for the year (58,561 )
At 31 December 2023 101,494

Milan Babic Architects Limited (Registered number: 04524676)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


11. ULTIMATE CONTROLLING PARTY

MBA Employee Ownership Trust.