Baba Vanga Limited,Ltd - AccountsLtd - Accounts

Baba Vanga Limited,Ltd - AccountsLtd - Accounts

BABA VANGA LIMITED - Company Information

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2021-08-01 12129500 2022-07-31 12129500 2021-08-01 2022-07-31 12129500 2021-07-31 12129500 2020-08-01 2021-07-31 12129500 uk-core:WithinOneYear 2021-07-31 12129500 uk-core:WithinOneYear 2022-07-31 12129500 uk-core:AfterOneYear 2021-07-31 12129500 uk-core:AfterOneYear 2022-07-31 12129500 uk-core:RevaluationReserve 2022-07-31 12129500 uk-core:RevaluationReserve 2021-07-31 12129500 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 12129500 uk-core:RetainedEarningsAccumulatedLosses 2021-07-31 12129500 uk-bus:Director1 2021-08-01 2022-07-31 12129500 uk-core:WithinOneYear uk-core:Secured 2022-07-31 12129500 uk-core:WithinOneYear uk-core:Secured 2021-07-31 12129500 uk-core:OtherThanOnDemand 2022-07-31 12129500 uk-core:OtherThanOnDemand 2021-07-31 12129500 uk-core:AfterOneYear 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure 12129500 uk-bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 12129500 uk-bus:FRS102 2021-08-01 2022-07-31 12129500 uk-bus:FullAccounts 2021-08-01 2022-07-31 12129500 uk-bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31
Baba Vanga Limited
Registered Number:12129500
For the year ended 31 July 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2022
Baba Vanga Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
12129500
As at 31 July 2022
Baba Vanga Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
2
850,000
501,000
Investment property
850,000
501,000
Current assets
Inventories
285,615
-
3
602
Cash and cash equivalents
2,874
2,874
286,217
Trade and other payables: amounts falling due within one
year
(416,240)
(16,482)
4
(130,023)
(13,608)
Net current liabilities
Total assets less current liabilities
836,392
370,977
Trade and other payables: amounts falling due after more
than one year
(377,696)
(965,577)
5
(129,185)
Net liabilities
(6,719)
Capital and reserves
Revaluation reserve
(110,682)
-
6
Retained earnings
(18,503)
(6,719)
(129,185)
(6,719)
Shareholders' funds
For the year ended 31 July 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Ben Taylor Director
These financial statements were approved and authorised for issue by the Board on 26 April 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2022
Baba Vanga Limited
Notes to the Financial Statements
Statutory Information
Baba Vanga Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 12129500.
Registered address:
59 Woodlands Avenue
London
E11 3RB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
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.
2. Investment property
Total
£
Fair value
At 01 August 2021
501,000
Additions
459,682
Fair value adjustments
(110,682)
At 31 July 2022
850,000
Net book value
At 31 July 2022
850,000
At 31 July 2021
501,000
Investment property includes freehold land and buildings that were let for residential purposes from 1 March 2022. The property was valued by Foundation Home Loans on 9 March 2022 at £850,000. If the property had not been revalued its histoical value would have been £960,682. Interest that has been capitalised in the historical cost is £27,471 (2021: £11,820).
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5
For the year ended 31 July 2022
Baba Vanga Limited
Notes to the Financial Statements Continued
3. Inventories
2021
2022
£
£
Stocks
-
285,615
The £285,615 in 2021 were development costs that have been added to the cost of the investment property in 2023.
4. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Bank loans and overdraft (secured)
-
409,585
Trade creditors
732
-
Directors' loan accounts
4,000
6,655
Other creditors
11,750
-
16,482
416,240
5. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft (secured)
637,465
-
377,696
328,112
Directors' loan accounts
965,577
377,696
Analysis of creditors falling due after more than five years:
Payable otherwise than by instalments
965,577
377,696
Amounts falling due after more than 1 year are the mortgage £637,465 (2021: £0) which is on a fixed rate interest rate for 5 years with interest only payable and a loan from the directors £328,112 (2021: £377,696). The security for the mortgage loan is 3 Preston Avenue, London, E4 9NL. The loan from the directors is unsecured and will remain outstanding until the company has the funds to repay it.
6. Reserves
Total
£
Revaluation reserve at 01 August 2021
-
Revaluation of fixed assets
(110,682)
(110,682)
Revaluation reserve at 31 July 2022
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6
For the year ended 31 July 2022
Baba Vanga Limited
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 2 (2021 : 2)
8. Parent-subsidiary relationship
The parent undertaking is Baba Vanga Holdings Limited. The registered office and principal place of business of Baba Vanga Holdings Limited is 59 Woodlands AvenueLondonE11 3RB
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