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REGISTERED NUMBER: 02066649 (England and Wales)






















Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31st March 2024

for

Baby Bottles (Wholesale) Limited

Baby Bottles (Wholesale) Limited (Registered number: 02066649)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Baby Bottles (Wholesale) Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: M J Garnett
K J Harding
A G Wright





SECRETARY: A G Wright





REGISTERED OFFICE: Crondal Road
Bayton Road Industrial Est
Exhall
Coventry
CV7 9NH





REGISTERED NUMBER: 02066649 (England and Wales)





AUDITORS: Barkers Accountants Limited
Chartered Accountants &
Statutory Auditors
Watling Offices
Smockington Lane
Wolvey
Hinckley
Leicestershire
LE10 3AY

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Strategic Report
for the Year Ended 31st March 2024

The directors present their strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
The company has had an excellent year with turnover exceeding £23M. The reduction in turnover was expected due to a reduction in low margin wholesale sales. The company has been able to increase their gross margin percentage to 19.3% compared to 15.1% (2023).

The gross profit percentage has also been increased by the company being able to buy in bulk and obtain volume discounts from their suppliers. It is the companies policy to be able to maintain low purchase prices.

The company had working capital ratio of 1.34 at 31st March 2024 (1.34 at 31st March 2023) which remains consistent with the previous year. The Management are still attempting to reduce debtor and creditor days to improve the companies working capital position. Debtors days are at 30 days (29 days 2023) and creditor days have reduced to 37 days.(40 days 2023)

The company has benefited from stability within its workforce with key sales and management being long serving.

PRINCIPAL RISKS AND UNCERTAINTIES
The Company is firmly positioned in the leisure industry and is reliant on the public having spare disposable income to spend.

The key risk to the companies going concern and cash flow position is the affect of inflation, in particular the increase in fuel prices as the company delivers the stock themselves. Inflation will also impact the level of disposable income the public have to spend on leisure activities.

There is a high level of employment nationally and Management are finding it difficult to hire qualified drivers. They are looking to do in house training in the future.

With the turnover and profit achieved during the year, the Directors are confident they can continue to navigate the company through this challenging period.

ON BEHALF OF THE BOARD:





A G Wright - Secretary


25th July 2024

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Report of the Directors
for the Year Ended 31st March 2024

The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of wholesaler of bottled and draught beers, wines, spirits and soft drinks to the licenced trade.

DIVIDENDS
The total distribution of dividends for the year ended 31st March 2024 will be £ 756,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

M J Garnett
K J Harding
A G Wright

FINANCIAL INSTRUMENTS
The Company’s activities expose it to a variety of financial risks. The Company’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Company.

The Company has exposure to the following risks from its use of financial instruments:
- liquidity risk
- market risk

The Company's directors have overall responsibility for the establishment and oversight of the Company’s risk management framework.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.
Typically the Company ensures that it has sufficient cash available, as well as lines of credit, to meet expected operational expenses, including the servicing of financial obligations. The Company endeavours to mitigate the potential negative impacts of extreme circumstances that cannot reasonably be predicted such as major catastrophes like business interruption and public liability. As far as possible these risks are mitigated through short term insurance policies however the costs associated with such cover are critically evaluated.


Market Risk
Market risk is the risk that changes in market prices, such as interest rates will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk.


Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Report of the Directors
for the Year Ended 31st March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



A G Wright - Secretary


25th July 2024

Report of the Independent Auditors to the Members of
Baby Bottles (Wholesale) Limited

Opinion
We have audited the financial statements of Baby Bottles (Wholesale) Limited (the 'company') for the year ended 31st March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Baby Bottles (Wholesale) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures including the review and testing of manual journals and key estimates and judgements made by management.

We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. We also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Baby Bottles (Wholesale) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Caroline Dexter BSc (Hons) BFP FCA (Senior Statutory Auditor)
for and on behalf of Barkers Accountants Limited
Chartered Accountants &
Statutory Auditors
Watling Offices
Smockington Lane
Wolvey
Hinckley
Leicestershire
LE10 3AY

25th July 2024

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Statement of Comprehensive
Income
for the Year Ended 31st March 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 23,299,657 26,653,109

Cost of sales 18,792,920 22,619,216
GROSS PROFIT 4,506,737 4,033,893

Distribution costs 227,696 227,166
Administrative expenses 3,112,251 2,632,813
3,339,947 2,859,979
OPERATING PROFIT 1,166,790 1,173,914

Interest receivable and similar income 1,977 -
1,168,767 1,173,914

Interest payable and similar expenses 5 20,571 24,299
PROFIT BEFORE TAXATION 6 1,148,196 1,149,615

Tax on profit 7 307,152 216,935
PROFIT FOR THE FINANCIAL YEAR 841,044 932,680

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

841,044

932,680

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 3,528 7,410
Tangible assets 10 296,031 254,248
299,559 261,658

CURRENT ASSETS
Stocks 11 1,192,700 1,152,012
Debtors 12 2,234,863 2,792,509
Cash at bank 1,222,040 755,640
4,649,603 4,700,161
CREDITORS
Amounts falling due within one year 13 3,488,280 3,506,487
NET CURRENT ASSETS 1,161,323 1,193,674
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,460,882

1,455,332

CREDITORS
Amounts falling due after more than one
year

14

(60,595

)

(168,914

)

PROVISIONS FOR LIABILITIES 19 (71,525 ) (42,700 )
NET ASSETS 1,328,762 1,243,718

CAPITAL AND RESERVES
Called up share capital 20 4,722 4,722
Share premium 21 32,428 32,428
Retained earnings 21 1,291,612 1,206,568
SHAREHOLDERS' FUNDS 1,328,762 1,243,718

The financial statements were approved by the Board of Directors and authorised for issue on 25th July 2024 and were signed on its behalf by:




A G Wright - Director M J Garnett - Director




K J Harding - Director


Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Statement of Changes in Equity
for the Year Ended 31st March 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st April 2022 5,361 884,157 32,428 921,946

Changes in equity
Issue of share capital (639 ) - - (639 )
Dividends - (501,000 ) - (501,000 )
Total comprehensive income - 823,411 - 823,411
Balance at 31st March 2023 4,722 1,206,568 32,428 1,243,718

Changes in equity
Dividends - (756,000 ) - (756,000 )
Total comprehensive income - 841,044 - 841,044
Balance at 31st March 2024 4,722 1,291,612 32,428 1,328,762

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Cash Flow Statement
for the Year Ended 31st March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,265,921 573,299
Interest paid (20,571 ) (24,299 )
Tax paid (219,748 ) (60,383 )
Net cash from operating activities 1,025,602 488,617

Cash flows from investing activities
Purchase of intangible fixed assets - (4,410 )
Purchase of tangible fixed assets (95,057 ) (20,000 )
Sale of tangible fixed assets 31,748 20,500
Interest received 1,977 -
Net cash from investing activities (61,332 ) (3,910 )

Cash flows from financing activities
New loans in year 49,393 -
Bank loan repayments in year (124,999 ) (125,000 )
Capital repayments in year (12,951 ) (71,546 )
Amount introduced by directors 40,184 -
Amount withdrawn by directors (449,497 ) (648,796 )
Net cash from financing activities (497,870 ) (845,342 )

Increase/(decrease) in cash and cash equivalents 466,400 (360,635 )
Cash and cash equivalents at beginning of
year

2

755,640

1,116,275

Cash and cash equivalents at end of year 2 1,222,040 755,640

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Cash Flow Statement
for the Year Ended 31st March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,148,196 1,149,615
Depreciation charges 72,884 69,883
Loss on disposal of fixed assets 1,637 301
Finance costs 20,571 24,299
Finance income (1,977 ) -
1,241,311 1,244,098
Increase in stocks (40,688 ) (195,967 )
Decrease/(increase) in trade and other debtors 557,646 (450,786 )
Decrease in trade and other creditors (492,348 ) (24,046 )
Cash generated from operations 1,265,921 573,299

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,222,040 755,640
Year ended 31st March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 755,640 1,116,275


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 755,640 466,400 1,222,040
755,640 466,400 1,222,040
Debt
Finance leases (56,026 ) (20,853 ) (76,879 )
Debts falling due within 1 year (124,999 ) - (124,999 )
Debts falling due after 1 year (135,419 ) 124,999 (10,420 )
(316,444 ) 104,146 (212,298 )
Total 439,196 570,546 1,009,742

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Baby Bottles (Wholesale) Limited is a private company, limited by shares , registered in England and Wales. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Stock provision
The company makes a specific provision for any out of date stock held at the year end.

Bad debt provision
The company's policy is to review any debts over 3 months old, to consider if a provision is required. Specific bad debt provisions will also be made on any further debts that are not recoverable.

Overriders
The company will recognise over rider income when the conditions have been met so the income is guaranteed.

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

Revenue is recognized on an accruals basis in the accounts once the goods have been delivered and a sales invoice has been raised.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business clients in 2019 is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are recognized on the balance sheet once the asset has been brought into use and generates an economic benefit to the company. All tangible fixed assets are included at invoice cost less any accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments include all financial assets, financial liabilities and equity instruments. Financial assets and financial liabilities, in respect of financial instruments, are recognised on the Company’s Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets
Financial assets are classified into the following categories:
• financial assets held at fair value through profit or loss;
• loans and receivables.

The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition.

The Company’s principal financial assets are receivables and cash and cash equivalents.

Receivables
Trade and other receivables and other loans are stated at fair value plus any directly attributable transaction costs less principal payments and accumulated impairment losses.

Receivables originated by the Company by providing goods or services directly to the customer are carried at fair value plus any directly attributable transaction costs amount less allowance for impairment. An allowance for impairment is established when there is objective evidence that the Company has incurred a loss and will not be able to collect all amounts due according to the original terms of the receivables. The amount of the allowance is the difference between the carrying amount and the recoverable amount.


Cash and cash equivalents
Cash and cash equivalents are measured at fair value based, where appropriate, at the relevant exchange rate at the reporting date. Cash and cash equivalents comprise cash on hand and other short-term, highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.

Initial recognition and measurement
Financial assets are recognised and derecognised on trade-date where the purchase or sale of the financial asset is under a contract whose terms require delivery of the instrument within the time frame established by the market concerned.

All financial assets are initially measured at fair value, including transaction costs except for those financial assets classified as at fair value through profit or loss which are initially measured at fair value, excluding transaction costs.

The fair value of a financial instrument on initial recognition is normally the transaction price unless the fair value is evident from observable market data.

Financial liabilities
Financial liabilities are classified into the following categories:
• financial liabilities at fair value through profit or loss;
• financial liabilities held at amortised cost; or

The classification depends on the nature and purpose of the financial liabilities and is determined at the time of initial recognition.

The Company’s principal financial liabilities are payables and other short-term borrowings.

Trade and other payables
Trade and other payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method.

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Initial recognition and measurement
All financial liabilities are initially measured at fair value, including directly attributable transaction costs except for those financial liabilities classified as at fair value through profit or loss, which are initially measured at fair value, excluding transaction costs.

The fair value of a financial instrument on initial recognition is normally the transaction price unless the fair value is evident from observable market data.

Offset
Where a legally enforceable right of offset exists for recognised financial assets and financial liabilities and there is an intention to settle the liability and realise the asset simultaneously, or to settle on a net basis, all related financial effects are offset.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

There are 3 directors included within the scheme (2021 - 3).

Confidential invoice discounting
The Company has entered into an agreement with RBS Invoice Finance Limited for confidential invoice discounting. The amount owed to RBS at the year end is included within current liabilities.

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

All turnover is derived solely from the sale of goods in the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,497,798 2,011,182
Social security costs 27,138 25,446
Other pension costs 31,142 28,195
2,556,078 2,064,823

The average number of employees during the year was as follows:
2024 2023

Management & administration 6 6
Sales 10 10
Drivers & warehouse 42 40
58 56

2024 2023
£    £   
Directors' remuneration 223,950 206,268

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 74,780 68,867

The Directors received benefits in kind for the year of £25,541. (2023 £30,779)

The Company contributed £329,998 (2023 £159,000) to the director's money purchase pension scheme.

The highest paid director received the following remuneration

£   

Remuneration including benefits in kind 84,535
Company contributions to a money purchase scheme 109,999
194,534

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest 16,226 21,635
Hire purchase interest 4,345 2,664
20,571 24,299

6. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Other operating leases 84,658 77,071
Depreciation - owned assets 69,002 66,883
Loss on disposal of fixed assets 1,637 301
Goodwill amortisation 3,000 3,000
Website amortisation 882 -
Auditors' remuneration 17,420 16,500

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 278,447 217,802
Prior year adjustment (120 ) (367 )
Total current tax 278,327 217,435

Deferred tax 28,825 (500 )
Tax on profit 307,152 216,935

UK corporation tax has been charged at 25% (2023 - 19%).

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,148,196 1,149,615
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

287,049

218,427

Effects of:
Expenses not deductible for tax purposes 4,534 2,439
Capital allowances in excess of depreciation (18,448 ) (6,959 )
Adjustments to tax charge in respect of previous periods (120 ) (367 )
Balancing charge 5,312 3,895
Deferred Tax 28,825 (500 )
Total tax charge 307,152 216,935

8. DIVIDENDS
2024 2023
£    £   
Dividend £160.10 (£106.1 2023)per share 756,000 501,000

9. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 41,972 4,410 46,382
AMORTISATION
At 1st April 2023 38,972 - 38,972
Amortisation for year 3,000 882 3,882
At 31st March 2024 41,972 882 42,854
NET BOOK VALUE
At 31st March 2024 - 3,528 3,528
At 31st March 2023 3,000 4,410 7,410

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

10. TANGIBLE FIXED ASSETS
Short Plant & Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1st April 2023 141,995 222,469 479,846 844,310
Additions - 14,095 130,075 144,170
Disposals - (9,572 ) (116,332 ) (125,904 )
At 31st March 2024 141,995 226,992 493,589 862,576
DEPRECIATION
At 1st April 2023 141,994 192,993 255,075 590,062
Charge for year - 9,617 59,385 69,002
Eliminated on disposal - (6,922 ) (85,597 ) (92,519 )
At 31st March 2024 141,994 195,688 228,863 566,545
NET BOOK VALUE
At 31st March 2024 1 31,304 264,726 296,031
At 31st March 2023 1 29,476 224,771 254,248


11. STOCKS
2024 2023
£    £   
Goods for resale 1,192,700 1,152,012

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,919,905 2,105,557
Other debtors 11,511 11,511
Prepayments 303,447 675,441
2,234,863 2,792,509

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 124,999 124,999
Hire purchase contracts (see note 16) 26,704 22,531
Trade creditors 1,937,564 2,491,265
Social security and other taxes 189,841 127,646
Other creditors 56,928 21,464
Corporation tax 278,447 217,802
Director's current account 631,195 322,292
Accruals 242,602 178,488
3,488,280 3,506,487

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 10,420 135,419
Hire purchase contracts (see note 16) 50,175 33,495
60,595 168,914

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loan 124,999 124,999

Amounts falling due between one and two years:
Bank loan 10,420 135,419

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 26,704 22,531
Between one and five years 50,175 33,495
76,879 56,026

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase 76,879 56,026
Bank loan 135,419 260,418
212,298 316,444

Hire purchase debts are secured on the assets the debt relates to.

Bank loans and overdrafts

National Westminster Bank plc & RBS Invoice Finance Limited have a fixed and floating charge over the companies assets.

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

18. FINANCIAL INSTRUMENTS

The Company’s activities expose it to a variety of financial risks. The Company’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Company.

The Company has exposure to the following risks from its use of financial instruments:
- liquidity risk
- market risk

This note presents information about the Company’s exposure to each of the above risks, the Company’s objectives, policies and processes for measuring and managing risk, and the Company’s management of capital.

The Company's directors have overall responsibility for the establishment and oversight of the Company’s risk management framework.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.
Typically the Company ensures that it has sufficient cash available, as well as lines of credit, to meet expected operational expenses, including the servicing of financial obligations. The Company endeavours to mitigate the potential negative impacts of extreme circumstances that cannot reasonably be predicted such as major catastrophes like business interruption and public liability. As far as possible these risks are mitigated through short term insurance policies however the costs associated with such cover are critically evaluated.


Market Risk
Market risk is the risk that changes in market prices, such as interest rates will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk.

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 71,525 42,700

Deferred
tax
£   
Balance at 1st April 2023 42,700
Accelerated capital allowance 28,825
Balance at 31st March 2024 71,525

Baby Bottles (Wholesale) Limited (Registered number: 02066649)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

20. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
5,361 Ordinary £1 4,722 4,722

All shares carry full voting rights, rights to dividends and rights in respect of capital distributions.

21. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1st April 2023 1,206,568 32,428 1,238,996
Profit for the year 841,044 841,044
Dividends (756,000 ) (756,000 )
At 31st March 2024 1,291,612 32,428 1,324,040

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES


Mr M Garnett£   
Money withdrawn34,982
Dividend declared(252,000)

Mr K Harding£   
Money withdrawn192,231
Dividend declared(252,000)

Mr A Wright£   
Money withdrawn182,100
Dividend declared(214,216)

No Interest was payable on the directors loan accounts during the year.