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Babol Limited
Registered Number:08491221
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
08491221
As at 31 December 2023
Babol Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
515
397
3
515
397
Current assets
Trade and other receivables
6,339
22,443
4
123,078
Cash and cash equivalents
43,634
66,077
129,417
Trade and other payables: amounts falling due within one year
(165,198)
(98,535)
5
(35,781)
(32,458)
Net current liabilities
Total assets less current liabilities
(31,943)
(35,384)
Trade and other payables: amounts falling due after more than
one year
(5,903)
(900)
6
(32,843)
Net liabilities
(41,287)
Capital and reserves
Called up share capital
100
100
Retained earnings
(32,943)
(41,387)
(32,843)
(41,287)
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Chris Chance Director
These financial statements were approved and authorised for issue by the Board on 24 September 2024 and were signed by:
The notes form part of these financial statements
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3
For the year ended 31 December 2023
Babol Limited
Notes to the Financial Statements
Statutory Information
Babol Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 08491221.
Registered address:
Unit 3 Norton Road
Broomhall
Worcester
England
WR5 2QR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention.
The directors believe the preparation of the accounts on a going concern basis is appropriate. They have confirmed financial
support will be provided to enable the company to meet its ongoing financial liabilities. The policy was in effect for the
financial year and will remain in effect for a period ending no sooner than 12 months from the date the accounts are approved
by the board.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Straight line
Computer equipment
25% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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4
For the year ended 31 December 2023
Babol Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2023
500
At 31 December 2023
500
Amortisation
At 01 January 2023
500
At 31 December 2023
500
Net book value
At 31 December 2023
-
At 31 December 2022
-
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or valuation
At 01 January 2023
26,582
26,582
-
556
-
556
Additions
At 31 December 2023
556
26,582
27,138
Provision for depreciation and impairment
At 01 January 2023
26,185
26,185
-
Charge for year
438
311
127
At 31 December 2023
26,623
26,496
127
At 31 December 2023
Net book value
429
86
515
At 31 December 2022
-
397
397
4. Trade and other receivables
2022
2023
£
£
Trade debtors
24,049
6,026
Other debtors
(1,606)
313
6,339
22,443
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For the year ended 31 December 2023
Babol Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
-
108
Trade creditors
78,014
145,872
Taxation and social security
20,021
8,452
Other creditors
500
10,766
98,535
165,198
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Other creditors
900
5,903
7. Average number of persons employed
During the year the average number of employees was 0.
8. Transition to FRS 102
The principal accounting polices applied in the preparation of the financial statements are set out above. These policies have
been consistently applied to all the years presented, unless otherwise stated. No changes have arisen as a result of the
transition to Section 1A of Financial Reporting Standard 102.
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