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Registration number: 12059028

Balibaris Limited

Abridged Financial Statements

for the Year Ended 31 December 2023

 

Balibaris Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

3 to 7

 

Balibaris Limited

Company Information

Directors

Paul Szczerba

Balibaris SAS

Registered office

15th Floor
6 Bevis Marks
Bury Court
London
EC3A 7BA

Auditors

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Balibaris Limited

(Registration number: 12059028)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

81,928

57,815

Tangible assets

5

282,047

170,513

 

363,975

228,328

Current assets

 

Stocks

6

448,967

237,786

Debtors

381,614

210,332

Cash at bank and in hand

 

342,984

299,138

 

1,173,565

747,256

Prepayments and accrued income

 

111,414

88,409

Creditors: Amounts falling due within one year

(2,378,987)

(1,646,709)

Net current liabilities

 

(1,094,008)

(811,044)

Total assets less current liabilities

 

(730,033)

(582,716)

Accruals and deferred income

 

(149,926)

(32,604)

Net liabilities

 

(879,959)

(615,320)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

(880,959)

(616,320)

Shareholders' deficit

 

(879,959)

(615,320)

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 Board on 27 February 2025 and signed on its behalf by:
 

.........................................
Paul Szczerba
Director

 

Balibaris Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
15th Floor
6 Bevis Marks
Bury Court
London
EC3A 7BA

These financial statements were authorised for issue by the Board on 27 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 abridged 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 abridged financial statements have been prepared using the historical cost convention.

Going concern

While the company is currently in a net liability position, it also has a signed letter of support from its ultimate parent, Balibaris SAS, to provide any additional support for the foreseeable future and at the minimum, for at least 12 months from the date of the approval of the company's annual report and financial statements.

As such, the directors believe that the company has sufficient liquidity to meet its ongoing obligations and that the preparation of the financial statements on a going concern basis remains appropriate.

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.

Sales of goods are recognised on sale to the customer, which is considered to be the point of sale or delivery and when the significant risks and rewards of the goods have been passed to the customer.

 

Balibaris Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Short leasehold improvements

10% per annum straight line basis

Fixtures, fittings and equipment

25% per annum straight line basis

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

Lease premium and associated costs

straight line over 10 years

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.

 

Balibaris Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost method and is calculated with reference to the rolling initial margin achieved on the specific class of stock.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer,substantially all the risks and rewards of ownership of the leased asset to the Group. All other leases are classified as operating leases.

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the profit and loss on a straight line basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 6).

 

Balibaris Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023 (continued)

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

84,720

Additions acquired separately

33,734

At 31 December 2023

118,454

Amortisation

At 1 January 2023

26,905

Amortisation charge

9,621

At 31 December 2023

36,526

Carrying amount

At 31 December 2023

81,928

At 31 December 2022

57,815

5

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

231,972

29,347

261,319

Additions

126,173

21,357

147,530

At 31 December 2023

358,145

50,704

408,849

Depreciation

At 1 January 2023

73,102

17,704

90,806

Charge for the year

28,261

7,735

35,996

At 31 December 2023

101,363

25,439

126,802

Carrying amount

At 31 December 2023

256,782

25,265

282,047

At 31 December 2022

158,870

11,643

170,513

Included within the net book value of land and buildings above is £256,782 (2022 - £158,870) in respect of short leasehold land and buildings.
 

 

Balibaris Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023 (continued)

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

448,967

237,786

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Related party transactions

The company was provided with interest bearing loans at 2.5% per annum from parent undertaking Balibaris SAS to finance store fit out costs, stock and operating expenses. At the period end £633,842 (2022 - £625,700) was due to the parent company and included in current liabilities.

Non-interest bearing trade payables amounting to £1,254,060 (2022- £938,172) are also due to the parent company.

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Baliraris SAS, incorporated in France.

 The most senior parent entity producing publicly available financial statements is Baliraris SAS. These financial statements are available upon request from 35 Rue de Sèvres, 75006, Paris.

 

10

Auditor information

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 27 February 2025 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.