Bahia Blanca Management Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 10560001 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2022

for

Bahia Blanca Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mrs T S Raluy

Registered office:

22 - 26 King Street

King's Lynn

Norfolk

PE30 1HJ

Registered number:

10560001 (England and Wales)

Accountants:

Stephenson Smart (East Anglia) Limited

10 Oak Street

Fakenham

Norfolk

NR21 9DY

Fixed assets

Intangible assets

4

-

4,847

Tangible assets

5

1

16,422

Investments

6

-

30,000

1

51,269

Current assets

Stocks

-

148,467

Debtors

7

322,376

1,091,718

Cash at bank and in hand

91,666

882,297

414,042

2,122,482

Creditors

Amounts falling due within one year

8

(2,287,628

)

(3,937,805

)

Net current liabilities

(1,873,586

)

(1,815,323

)

Total assets less current liabilities

(1,873,585

)

(1,764,054

)

Creditors

Amounts falling due after more than one year

9

-

(39,167

)

Net liabilities

(1,873,585

)

(1,803,221

)

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

(1,874,585

)

(1,804,221

)

(1,873,585

)

(1,803,221

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

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 director and authorised for issue on 29 June 2023 and were signed by:

Mrs T S Raluy - Director

1.	Statutory information

Bahia Blanca Management 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.

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006, on the basis that the company and its subsidiary undertakings comprise a small group.

Preparation of consolidated financial statements

The financial statements contain information about Bahia Blanca Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

As at 30 June 2022, the company's liabilities exceeded its assets and the balance sheet at that date showed net liabilities of £1,873,586 (2021: £1,803,221). Following the transfer of the company's trade to another group company, Bahia Blanca Management Limited is dependent upon the continuing financial support of the group and the financial statements have accordingly been prepared on the going concern basis.

3.	Employees and directors

The average number of employees during the year was 3 (2021 - 4 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 July 2021

23,958

Disposals

(23,958

)

At 30 June 2022

-

Amortisation

At 1 July 2021

19,111

Eliminated on disposal

(19,111

)

At 30 June 2022

-

Net book value

At 30 June 2022

-

At 30 June 2021

4,847

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 July 2021

10,125

27,965

38,090

Disposals

(10,125

)

(27,965

)

(38,090

)

At 30 June 2022

-

-

-

Depreciation

At 1 July 2021

3,898

17,770

21,668

Eliminated on disposal

(3,898

)

(17,771

)

(21,669

)

At 30 June 2022

-

(1

)

(1

)

Net book value

At 30 June 2022

-

1

1

At 30 June 2021

6,227

10,195

16,422

6.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 July 2021

30,000

Impairments

(30,000

)

At 30 June 2022

-

Net book value

At 30 June 2022

-

At 30 June 2021

30,000

7.

Debtors: amounts falling due within one year

30.6.22

30.6.21

£

£

Trade debtors

-

82,466

Amounts owed by group undertakings

188,866

861,711

Other debtors

133,510

147,541

322,376

1,091,718

8.

Creditors: amounts falling due within one year

30.6.22

30.6.21

£

£

Bank loans and overdrafts

-

10,000

Trade creditors

-

26,219

Amounts owed to group undertakings

1,363,742

158,275

Taxation and social security

-

2,115

Other creditors

923,886

3,741,196

2,287,628

3,937,805

9.

Creditors: amounts falling due after more than one year

30.6.22

30.6.21

£

£

Bank loans

-

39,167

10.	Related party disclosures

The parent company is Neocelest Habitat SL, a company incorporated in Spain.

11.	Ultimate controlling party

The controlling party is Mrs T S Raluy.