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Registered Number: 11218410
England and Wales

 

 

 

SABINA BILENKO LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Directors Sabina Bilenko
Elona Bilenko
Registered Number 11218410
Registered Office 45 Pont Street
London
SW1X 0BD
Accountants Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 4,572    4,572 
Tangible fixed assets 4 65,221    55,399 
69,793    59,971 
Current assets      
Stocks 5 1,184,066    914,642 
Debtors 6 274,651    196,630 
Cash at bank and in hand 4,067    8,217 
1,462,784    1,119,489 
Creditors: amount falling due within one year 7 (4,263,401)   (3,108,351)
Net current assets (2,800,617)   (1,988,862)
 
Total assets less current liabilities (2,730,824)   (1,928,891)
Net assets (2,730,824)   (1,928,891)
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account (2,730,924)   (1,928,991)
Shareholders' funds (2,730,824)   (1,928,891)
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 January 2025 and were signed on its behalf by:


-------------------------------
Sabina Bilenko
Director
2
General Information
Sabina Bilenko Ltd is a private company, limited by shares, registered in England and Wales, registration number 11218410, registration address 45 Pont Street, London, SW1X 0BD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The accounts have been prepared on going concern, on the understanding that the directors will continue to financially support the company during this uncertain period. 
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of years.
Tangible fixed assets
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:
Land and Buildings 3 Years Straight Line
Plant and machinery 20% Reducing Balance
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Stocks
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.
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic fanatical instruments and measured at initial recognition at transaction price.  Debtors and creditors are subsequently measured at amortised cost using effective interest rate  method. A provision is established when there is a objective evidence will not be able to collect all amounts due.  
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at the bank and bank overdrafts.   
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 March 2023 4,572    4,572 
Additions  
Disposals  
At 29 February 2024 4,572    4,572 
Amortisation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
At 29 February 2024 4,572    4,572 
At 28 February 2023 4,572    4,572 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 March 2023   18,661    47,266    10,591    76,518 
Additions 30,592      4,078    1,708    36,378 
Disposals        
At 29 February 2024 30,592    18,661    51,344    12,299    112,896 
Depreciation
At 01 March 2023   5,078    13,452    2,589    21,119 
Charge for year 10,095    3,732    10,269    2,460    26,556 
On disposals        
At 29 February 2024 10,095    8,810    23,721    5,049    47,675 
Net book values
Closing balance as at 29 February 2024 20,497    9,851    27,623    7,250    65,221 
Opening balance as at 01 March 2023   13,583    33,814    8,002    55,399 


5.

Stocks

2024
£
  2023
£
Stocks 1,184,066    914,642 
1,184,066    914,642 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 166,380    66,886 
Other Debtors 108,271    129,744 
274,651    196,630 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 115,834    126,353 
Taxation and Social Security 7,121    3,162 
Other Creditors 4,140,446    2,978,836 
4,263,401    3,108,351 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

9.

Leases

As at the balance sheet date, the company had commitments under non-cancellable operating leases. 

Less than a year - £211,027
More than a year and less than 5 years - £94,021
More than 5 years - £0

3