1 April 2023 false No description of principal activity Taxfiler 2024.6 09102861business:PrivateLimitedCompanyLtd2023-04-012024-03-31 091028612023-03-31 091028612023-04-012024-03-31 09102861business:AuditExemptWithAccountantsReport2023-04-012024-03-31 09102861business:FilletedAccounts2023-04-012024-03-31 091028612024-03-31 09102861business:Director12023-04-012024-03-31 09102861business:CompanySecretary12023-04-012024-03-31 09102861business:RegisteredOffice2023-04-012024-03-31 091028612023-03-31 09102861core:WithinOneYear2024-03-31 09102861core:WithinOneYear2023-03-31 09102861core:AfterOneYear2024-03-31 09102861core:AfterOneYear2023-03-31 09102861core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 09102861core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 09102861core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 09102861core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 09102861core:PreviouslyStatedAmount2024-03-31 09102861core:PreviouslyStatedAmount2023-03-31 09102861business:SmallEntities2023-04-012024-03-31 09102861countries:EnglandWales2023-04-012024-03-31 09102861core:LandBuildings2023-04-012024-03-31 09102861core:PlantMachinery2023-04-012024-03-31 09102861core:FurnitureFittings2023-04-012024-03-31 09102861core:ComputerEquipment2023-04-012024-03-31 09102861core:Goodwill2023-03-31 09102861core:Goodwill2024-03-31 09102861core:LandBuildings2023-03-31 09102861core:PlantMachinery2023-03-31 09102861core:LandBuildings2024-03-31 09102861core:PlantMachinery2024-03-31 09102861core:WithinOneYear2023-04-012024-03-31 09102861core:AfterOneYear2023-04-012024-03-31 09102861core:BetweenOneFiveYears2024-03-31 09102861core:BetweenOneFiveYears2023-03-31 09102861core:MoreThanFiveYears2024-03-31 09102861core:MoreThanFiveYears2023-03-31 09102861business:Director112023-04-012024-03-31 09102861business:Director112023-03-31 09102861business:Director112024-03-31 091028612022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 09102861 (England and Wales)
Baby Republic Limited Unaudited accounts for the year ended 31 March 2024
Baby Republic Limited Unaudited accounts Contents
Page
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Baby Republic Limited Company Information for the year ended 31 March 2024
Director
L A Finch
Secretary
L A Finch
Company Number
09102861 (England and Wales)
Registered Office
Unit 10 Chippenham Drive Kingston Milton Keynes MK10 0BZ United Kingdom
Accountants
Julie Wilmer Accountancy Services Ltd Cherry Tree House 12A West Side Rise Olney Bucks MK46 5HP
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Baby Republic Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1 
1 
Tangible assets
23,679 
18,861 
23,680 
18,862 
Current assets
Inventories
301,895 
419,912 
Debtors
221,886 
210,459 
Cash at bank and in hand
154,116 
128,606 
677,897 
758,977 
Creditors: amounts falling due within one year
(215,722)
(168,336)
Net current assets
462,175 
590,641 
Total assets less current liabilities
485,855 
609,503 
Creditors: amounts falling due after more than one year
(463,672)
(471,249)
Provisions for liabilities
Deferred tax
(3,176)
(1,770)
Net assets
19,007 
136,484 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
19,005 
136,482 
Shareholders' funds
19,007 
136,484 
For the year ending 31 March 2024 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 his 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 2 October 2024 and were signed on its behalf by
L A Finch Director Company Registration No. 09102861
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Baby Republic Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Baby Republic Limited is a private company, limited by shares, registered in England and Wales, registration number 09102861. The registered office is Unit 10 Chippenham Drive, Kingston, Milton Keynes, MK10 0BZ, United Kingdom.
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
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Land & buildings
over the length of the lease
Plant & machinery
over 4 years
Fixtures & fittings
over 4 years
Computer equipment
over 4 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Baby Republic Limited Notes to the Accounts for the year ended 31 March 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
20,001 
At 31 March 2024
20,001 
Amortisation
At 1 April 2023
20,000 
At 31 March 2024
20,000 
Net book value
At 31 March 2024
1 
At 31 March 2023
1 
Goodwill is written off in equal annual instalments over its estimated economic life of five years.
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Baby Republic Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
1,060 
35,741 
36,801 
Additions
- 
14,193 
14,193 
Disposals
- 
(6,873)
(6,873)
At 31 March 2024
1,060 
43,061 
44,121 
Depreciation
At 1 April 2023
159 
17,781 
17,940 
Charge for the year
212 
8,844 
9,056 
On disposals
- 
(6,554)
(6,554)
At 31 March 2024
371 
20,071 
20,442 
Net book value
At 31 March 2024
689 
22,990 
23,679 
At 31 March 2023
901 
17,960 
18,861 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
18,425 
2,185 
Trade debtors
47,347 
2,369 
Accrued income and prepayments
54,934 
50,670 
Other debtors
101,180 
155,235 
221,886 
210,459 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,688 
9,688 
Trade creditors
62,704 
30,530 
Taxes and social security
26,200 
37,875 
Other creditors
11,609 
21,015 
Accruals
105,521 
69,228 
215,722 
168,336 
The preference shares, which were issued on 6th December 2016 at par, are redeemable at par by the holders or the Company on service of 30 days' written notice on the later of 15th November 2028 and the date on which the Company has sufficient distributable reserves. The bank loan is under the Coronavirus Business Interruption loan scheme. It has a Government backed guarantee. It is repayable within six years.
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Baby Republic Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,091 
25,958 
Non-equity preference shares
447,581 
445,291 
463,672 
471,249 
The preference shares, which were issued on 6th December 2016 at par, are redeemable at par by the holders or the Company on service of 30 days' written notice on the later of 15th November 2028 and the date on which the Company has sufficient distributable reserves. The bank loan is under the Coronavirus Business Interruption loan scheme. It has a Government backed guarantee. It is repayable within six years.
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
62,927 
66,465 
Later than one year and not later than five years
167,550 
174,567 
Later than five years
- 
41,890 
230,477 
282,922 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
L A Finch
Loan , interest at 2.25% repayable on demand
65,856 
112,615 
145,205 
33,266 
65,856 
112,615 
145,205 
33,266 
The loan account was repaid following the year end.
11
Average number of employees
During the year the average number of employees was 8 (2023: 7).
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