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Registered number: 10368592
Labibaa Ltd
Financial Statements
For The Year Ended 30 September 2023
SAWHNEY CONSULTING
C/O Sawhney Consulting Limited
429 - 433 Pinner Road
Harrow
HA1 4HN
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2
Page 1
Balance Sheet
Registered number: 10368592
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 8,000 1,500
Debtors 5 22,638 -
Cash at bank and in hand - 4,130
30,638 5,630
Creditors: Amounts Falling Due Within One Year 6 (34,426 ) (13,976 )
NET CURRENT ASSETS (LIABILITIES) (3,788 ) (8,346 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,788 ) (8,346 )
NET LIABILITIES (3,788 ) (8,346 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (3,888 ) (8,446 )
SHAREHOLDERS' FUNDS (3,788) (8,346)
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Biba Sawhney
Director
6 February 2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Labibaa Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10368592 . The registered office is 41 Ravenscroft Avenue, Wembley, HA9 9TJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Stocks
2023 2022
£ £
Stock 8,000 1,500
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 22,638 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,842 2,574
Other creditors 32,294 11,301
Taxation and social security 290 101
34,426 13,976
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 2