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Registration number: 11259960

Balewink Limited



Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Balewink Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Balewink Limited

Company Information

Director

Mr L M F Jardim

Registered office

Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

Accountants

Tax Innovations Limited Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

 

Balewink Limited

(Registration number: 11259960)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

6,326

6,950

Current assets

 

Stocks

5

483,999

514,553

Debtors

6

-

498

Cash at bank and in hand

 

21,465

90,995

 

505,464

606,046

Creditors: Amounts falling due within one year

7

(135,898)

(96,081)

Net current assets

 

369,566

509,965

Total assets less current liabilities

 

375,892

516,915

Creditors: Amounts falling due after more than one year

7

(7,767)

(118,071)

Net assets

 

368,125

398,844

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

368,124

398,843

Shareholders' funds

 

368,125

398,844

For the financial year ending 31 March 2025 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 his 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 17 July 2025
 

.........................................
Mr L M F Jardim
Director

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR
England

These financial statements were authorised for issue by the director on 17 July 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.

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.

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

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

Computer equipment

30% Straight Line Method

Office equipment

30% Straight Line Method

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.

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 (2024 - 3).

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

3,515

28,389

31,904

At 31 March 2025

3,515

28,389

31,904

Depreciation

At 1 April 2024

1,594

23,360

24,954

Charge for the year

624

-

624

At 31 March 2025

2,218

23,360

25,578

Carrying amount

At 31 March 2025

1,297

5,029

6,326

At 31 March 2024

1,921

5,029

6,950

5

Stocks

2025
£

2024
£

Other inventories

483,999

514,553

6

Debtors

Current

2025
£

2024
£

Other debtors

-

498

 

-

498

7

Creditors

Creditors: amounts falling due within one year

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

2,618

720

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

95,449

827

Taxation and social security

 

4,153

83,152

Accruals and deferred income

 

1,500

1,500

Other creditors

 

32,178

9,882

 

135,898

96,081

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

7,767

118,071

 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

7,767

118,071

10

Dividends

2025

2024

£

£

Interim dividend of £40,000.00 (2024 - £42,000.00) per ordinary share

40,000

42,000

 

 
 

Balewink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

11

Related party transactions

Director's remuneration

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

2025
£

2024
£

Remuneration

9,100

9,100

Loans from related parties

2025

Key management
£

Total
£

At start of period

827

827

Advanced

94,622

94,622

At end of period

95,449

95,449

2024

Key management
£

Total
£

At start of period

748

748

Advanced

79,782

79,782

Repaid

(79,703)

(79,703)

At end of period

827

827

Terms of loans from related parties

Loan provided to Balewink Ltd by the Director is on a non-fixed repayment basis at 0% interest.