HALE BABA LIMITED

2022-04-012023-03-312023-03-31false10568956HALE BABA 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HALE BABA LIMITED

Registered Number
10568956
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

HALE BABA LIMITED

Company Information
for the year from 1 April 2022 to 31 March 2023


Director	SHANAHAN, John


Company Secretary	DAVENPORT, Scott Piers


Registered Address	53 King Street
	Manchester
	M2 4LQ


Registered Number	10568956 (England and Wales)

HALE BABA LIMITED

Statement of Financial Position
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	5		21,239		26,548
			21,239		26,548
Current assets
Stocks		4,010		2,543
Debtors		8,600		6,774
Cash at bank and on hand		100		7,484
		12,710		16,801
Creditors amounts falling due within one year	7	(16,460)		(16,829)
Net current assets (liabilities)			(3,750)		(28)
Total assets less current liabilities			17,489		26,520
Creditors amounts falling due after one year	8		(296,645)		(291,173)
Net assets			(279,156)		(264,653)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(279,157)		(264,654)
Shareholders' funds			(279,156)		(264,653)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 29 November 2023, and are signed on its behalf by:

SHANAHAN, John
Director
Registered Company No. 10568956

HALE BABA LIMITED

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	20

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	Employee information


		2023		2022
	Average number of employees during the year	0		1

5.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 April 22	64,410
	At 31 March 23	64,410
	Depreciation and impairment
	At 01 April 22	37,862
	Charge for year	5,309
	At 31 March 23	43,172
	Net book value
	At 31 March 23	21,239
	At 31 March 22	26,548

6.	Debtors within one year

	2023	2022
	£	£
Other debtors	1,450	2,106
Prepayments and accrued income	7,150	4,668
Total	8,600	6,774


	Short term debtors are measured at transaction price (which is usually the invoice 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.

Short term debtors are measured at transaction price (which is usually the invoice 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.

7.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	11,369	16,198
Taxation and social security	4,989	631
Other creditors	102	-
Total	16,460	16,829


	Short term creditors are measured at transaction price (which is usually the invoice 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.

8.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	21,733	21,998
Amounts owed to related parties	274,912	269,175
Total	296,645	291,173