3 3 Babette Wasserman Ltd 04435173 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is is that of design and wholesale of costume and jewellery. Digita Accounts Production Advanced 6.30.9574.0 true 04435173 2023-06-01 2024-05-31 04435173 2024-05-31 04435173 bus:OrdinaryShareClass1 2024-05-31 04435173 core:CurrentFinancialInstruments 2024-05-31 04435173 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04435173 core:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 04435173 core:FurnitureFittingsToolsEquipment 2024-05-31 04435173 bus:SmallEntities 2023-06-01 2024-05-31 04435173 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04435173 bus:FilletedAccounts 2023-06-01 2024-05-31 04435173 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04435173 bus:RegisteredOffice 2023-06-01 2024-05-31 04435173 bus:Director1 2023-06-01 2024-05-31 04435173 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 04435173 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04435173 bus:Agent1 2023-06-01 2024-05-31 04435173 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-01 2024-05-31 04435173 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 04435173 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 04435173 core:OtherRelatedParties 2023-06-01 2024-05-31 04435173 countries:England 2023-06-01 2024-05-31 04435173 2023-05-31 04435173 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 04435173 core:FurnitureFittingsToolsEquipment 2023-05-31 04435173 2022-06-01 2023-05-31 04435173 2023-05-31 04435173 bus:OrdinaryShareClass1 2023-05-31 04435173 core:CurrentFinancialInstruments 2023-05-31 04435173 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04435173 core:FurnitureFittingsToolsEquipment 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04435173

Babette Wasserman Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Babette Wasserman Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Babette Wasserman Ltd

Company Information

Director

Babette Wasserman

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

Babette Wasserman Ltd

(Registration number: 04435173)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

510

1,566

Current assets

 

Stocks

6

19,646

19,333

Debtors

7

16,921

23,507

Cash at bank and in hand

 

340,076

361,541

 

376,643

404,381

Creditors: Amounts falling due within one year

8

(104,068)

(134,502)

Net current assets

 

272,575

269,879

Net assets

 

273,085

271,445

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

273,084

271,444

Shareholders' funds

 

273,085

271,445

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 February 2025
 

.........................................
Babette Wasserman
Director

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
Unit 42, Pall Mall Deposit
124-128 Barlby Road
London
W10 6BL

These financial statements were authorised for issue by the director on 4 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing balance method

Website

20% Straight line method

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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 change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 June 2023

10,488

10,488

At 31 May 2024

10,488

10,488

Amortisation

At 1 June 2023

10,488

10,488

At 31 May 2024

10,488

10,488

Carrying amount

At 31 May 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

62,010

62,010

At 31 May 2024

62,010

62,010

Depreciation

At 1 June 2023

60,444

60,444

Charge for the year

1,056

1,056

At 31 May 2024

61,500

61,500

Carrying amount

At 31 May 2024

510

510

At 31 May 2023

1,566

1,566

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Stocks

2024
£

2023
£

Other inventories

19,646

19,333

7

Debtors

2024
£

2023
£

Trade debtors

12,023

20,157

Prepayments

2,331

783

Other debtors

2,567

2,567

16,921

23,507

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

75,837

74,432

Trade creditors

 

15,619

50,351

Taxation and social security

 

9,515

6,661

Accruals and deferred income

 

2,660

2,660

Other creditors

 

437

398

 

104,068

134,502

 

Babette Wasserman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

10

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £17,000.00 (2023 - £27,000.00) per ordinary share

 

17,000

 

27,000

         

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,000

8,233

Summary of transactions with other related parties


Included in creditors is an amount of £75,837 (2023 : £74,432) owed to B Wasserman, the director of the company.