Babylonstoren (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09733055 (England and Wales)

Financial Statements

for the Year Ended 30 June 2021

for

Babylonstoren (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C H Coetzee

S C Seager

REGISTERED OFFICE:

Estate Office

The Newt In Somerset

Bruton

Somerset

BA7 7NG

REGISTERED NUMBER:

09733055 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Fisher BA FCA

AUDITORS:

Alanbrookes Limited

Accountants and Statutory Auditors

24, Glove Factory Studios

Holt

Wiltshire

BA14 6RL

FIXED ASSETS

Intangible assets

4

-

182

Property, plant and equipment

5

44,326

23,122

44,326

23,304

CURRENT ASSETS

Inventories

159,370

254,009

Debtors

6

542,752

275,994

Cash at bank and in hand

327,889

225,423

1,030,011

755,426

CREDITORS

Amounts falling due within one year

7

3,464,895

2,060,781

NET CURRENT LIABILITIES

(2,434,884

)

(1,305,355

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,390,558

)

(1,282,051

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(2,390,559

)

(1,282,052

)

SHAREHOLDERS' FUNDS

(2,390,558

)

(1,282,051

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2022 and were signed on its behalf by:

S C Seager - Director

1.	STATUTORY INFORMATION

Babylonstoren (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Trade marks

Trade marks are being amortised over 5 years on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on cost and 10% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Trade

marks

£

COST

At 1 July 2020

and 30 June 2021

2,162

AMORTISATION

At 1 July 2020

1,980

Amortisation for year

182

At 30 June 2021

2,162

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

182

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 July 2020

41,683

Additions

137,153

Disposals

(117,845

)

At 30 June 2021

60,991

DEPRECIATION

At 1 July 2020

18,561

Charge for year

25,198

Eliminated on disposal

(27,094

)

At 30 June 2021

16,665

NET BOOK VALUE

At 30 June 2021

44,326

At 30 June 2020

23,122

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

441,438

186,757

Other debtors

101,314

89,237

542,752

275,994

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade creditors

460,895

201,065

Amounts owed to group undertakings

2,820,310

1,698,638

Taxation and social security

22,531

4,045

Other creditors

161,159

157,033

3,464,895

2,060,781

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1

Ordinary

£1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Fisher BA FCA (Senior Statutory Auditor)

for and on behalf of Alanbrookes Limited

10.	PARENT COMPANY

The company is a wholly owned subsidiary of Babylonstoren (Pty) Ltd a company registered in South Africa. Registered office Babylonstoren Farm, Klapmuts-Simondium Road, Paarl, South Africa 7670.

11.	GOING CONCERN

The directors are of the opinion that the company is a going concern due to the continued support of its holding company. Therefore the accounts have been prepared on a going concern basis.