Babylonlane Limited
Registered number: 02872818
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 523 180
Current assets
Debtors 4 104 299
Cash at bank and in hand 4,076 5,902
4,180 6,201
Creditors: amounts falling due within one year 5 (47,077) (40,571)
Net current liabilities (42,897) (34,370)
Net liabilities (42,374) (34,190)
Capital and reserves
Called up share capital 100 100
Profit and loss account (42,474) (34,290)
Shareholder's funds (42,374) (34,190)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N J Bracken
Director
Approved by the board on 16 June 2025
Babylonlane Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 769
Additions 517
At 31 March 2025 1,286
Depreciation
At 1 April 2024 589
Charge for the year 174
At 31 March 2025 763
Net book value
At 31 March 2025 523
At 31 March 2024 180
4 Debtors 2025 2024
£ £
Prepayments - 271
Other debtors 104 28
104 299
5 Creditors: amounts falling due within one year 2025 2024
£ £
Accruals 850 810
Other taxes and social security costs - 118
Other creditors 46,227 39,643
47,077 40,571
6 Other information
Babylonlane Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Suffolk Drive
Guildford
Surrey
GU4 7FD
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