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Registration number: 12568663

Babylon Entertainment Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Babylon Entertainment Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Babylon Entertainment Ltd

Company Information

Director

M J Winn

Registered office

Flat 17
86 Warden Road
Kentish Town
London
NW5 4NR

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Babylon Entertainment Ltd

(Registration number: 12568663)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

3,584

3,583

Cash at bank and in hand

 

12,563

3,860

 

16,147

7,443

Creditors: Amounts falling due within one year

5

(30,151)

(11,947)

Net liabilities

 

(14,004)

(4,504)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(14,006)

(4,506)

Shareholders' deficit

 

(14,004)

(4,504)

For the financial year ending 30 April 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 their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 February 2025
 

.........................................
M J Winn
Director

 

Babylon Entertainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Flat 17
86 Warden Road
Kentish Town
London
NW5 4NR
England

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.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

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.

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.

 

Babylon Entertainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Prepayments

3,584

3,583

 

Babylon Entertainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

103

-

Accruals and deferred income

1,325

1,325

Other creditors

28,723

10,622

30,151

11,947

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

7

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

M J Winn

Amounts owed to/(from) the Director

6,600

17,250

23,850

       
     

I P T Reid

Amounts owed to/(from) the Director

4,023

850

4,873

       
     

 

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

M J Winn

Amounts owed to/(from) the Director

-

6,600

6,600

       
     

I P T Reid

Amounts owed to/(from) the Director

-

4,023

4,023