2022-03-012023-02-282023-02-28false10010670BASIC INVESTMENT GROUP LTD2023-11-12iso4217:GBPxbrli:pure100106702022-03-01100106702023-02-28100106702022-03-012023-02-28100106702021-03-01100106702022-02-28100106702021-03-012022-02-2810010670bus:SmallEntities2022-03-012023-02-2810010670bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2810010670bus:AbridgedAccounts2022-03-012023-02-2810010670bus:PrivateLimitedCompanyLtd2022-03-012023-02-2810010670core:WithinOneYear2023-02-2810010670core:AfterOneYear2023-02-2810010670core:WithinOneYear2022-02-2810010670core:AfterOneYear2022-02-2810010670core:ShareCapital2023-02-2810010670core:SharePremium2023-02-2810010670core:RevaluationReserve2023-02-2810010670core:OtherReservesSubtotal2023-02-2810010670core:RetainedEarningsAccumulatedLosses2023-02-2810010670core:ShareCapital2022-02-2810010670core:SharePremium2022-02-2810010670core:RevaluationReserve2022-02-2810010670core:OtherReservesSubtotal2022-02-2810010670core:RetainedEarningsAccumulatedLosses2022-02-2810010670core:LandBuildings2023-02-2810010670core:PlantMachinery2023-02-2810010670core:Vehicles2023-02-2810010670core:FurnitureFittings2023-02-2810010670core:OfficeEquipment2023-02-2810010670core:NetGoodwill2023-02-2810010670core:IntangibleAssetsOtherThanGoodwill2023-02-2810010670core:ListedExchangeTraded2023-02-2810010670core:UnlistedNon-exchangeTraded2023-02-2810010670core:LandBuildings2022-02-2810010670core:PlantMachinery2022-02-2810010670core:Vehicles2022-02-2810010670core:FurnitureFittings2022-02-2810010670core:OfficeEquipment2022-02-2810010670core:NetGoodwill2022-02-2810010670core:IntangibleAssetsOtherThanGoodwill2022-02-2810010670core:ListedExchangeTraded2022-02-2810010670core:UnlistedNon-exchangeTraded2022-02-2810010670core:LandBuildings2022-03-012023-02-2810010670core:PlantMachinery2022-03-012023-02-2810010670core:Vehicles2022-03-012023-02-2810010670core:FurnitureFittings2022-03-012023-02-2810010670core:OfficeEquipment2022-03-012023-02-2810010670core:NetGoodwill2022-03-012023-02-2810010670core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2810010670core:ListedExchangeTraded2022-03-012023-02-2810010670core:UnlistedNon-exchangeTraded2022-03-012023-02-2810010670core:MoreThanFiveYears2022-03-012023-02-2810010670core:Non-currentFinancialInstruments2023-02-2810010670core:Non-currentFinancialInstruments2022-02-2810010670dpl:CostSales2022-03-012023-02-2810010670dpl:DistributionCosts2022-03-012023-02-2810010670core:LandBuildings2022-03-012023-02-2810010670core:PlantMachinery2022-03-012023-02-2810010670core:Vehicles2022-03-012023-02-2810010670core:FurnitureFittings2022-03-012023-02-2810010670core:OfficeEquipment2022-03-012023-02-2810010670dpl:AdministrativeExpenses2022-03-012023-02-2810010670core:NetGoodwill2022-03-012023-02-2810010670core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2810010670dpl:GroupUndertakings2022-03-012023-02-2810010670dpl:ParticipatingInterests2022-03-012023-02-2810010670dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2810010670core:ListedExchangeTraded2022-03-012023-02-2810010670dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2810010670core:UnlistedNon-exchangeTraded2022-03-012023-02-2810010670dpl:CostSales2021-03-012022-02-2810010670dpl:DistributionCosts2021-03-012022-02-2810010670core:LandBuildings2021-03-012022-02-2810010670core:PlantMachinery2021-03-012022-02-2810010670core:Vehicles2021-03-012022-02-2810010670core:FurnitureFittings2021-03-012022-02-2810010670core:OfficeEquipment2021-03-012022-02-2810010670dpl:AdministrativeExpenses2021-03-012022-02-2810010670core:NetGoodwill2021-03-012022-02-2810010670core:IntangibleAssetsOtherThanGoodwill2021-03-012022-02-2810010670dpl:GroupUndertakings2021-03-012022-02-2810010670dpl:ParticipatingInterests2021-03-012022-02-2810010670dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-012022-02-2810010670core:ListedExchangeTraded2021-03-012022-02-2810010670dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-012022-02-2810010670core:UnlistedNon-exchangeTraded2021-03-012022-02-2810010670core:NetGoodwill2023-02-2810010670core:IntangibleAssetsOtherThanGoodwill2023-02-2810010670core:LandBuildings2023-02-2810010670core:PlantMachinery2023-02-2810010670core:Vehicles2023-02-2810010670core:FurnitureFittings2023-02-2810010670core:OfficeEquipment2023-02-2810010670core:AfterOneYear2023-02-2810010670core:WithinOneYear2023-02-2810010670core:ListedExchangeTraded2023-02-2810010670core:UnlistedNon-exchangeTraded2023-02-2810010670core:ShareCapital2023-02-2810010670core:SharePremium2023-02-2810010670core:RevaluationReserve2023-02-2810010670core:OtherReservesSubtotal2023-02-2810010670core:RetainedEarningsAccumulatedLosses2023-02-2810010670core:NetGoodwill2022-02-2810010670core:IntangibleAssetsOtherThanGoodwill2022-02-2810010670core:LandBuildings2022-02-2810010670core:PlantMachinery2022-02-2810010670core:Vehicles2022-02-2810010670core:FurnitureFittings2022-02-2810010670core:OfficeEquipment2022-02-2810010670core:AfterOneYear2022-02-2810010670core:WithinOneYear2022-02-2810010670core:ListedExch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BASIC INVESTMENT GROUP LTD

Registered Number
10010670
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

BASIC INVESTMENT GROUP LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

LAM, In Heng
SONG, Ieong Kong

Registered Address

314 Carshalton Road
Carshalton
SM5 3QB

Registered Number

10010670 (England and Wales)
BASIC INVESTMENT GROUP LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6123,637519,873
123,637519,873
Current assets
Cash at bank and on hand185,51511,516
185,51511,516
Creditors amounts falling due within one year(960,276)(690,169)
Net current assets (liabilities)(774,761)(678,653)
Total assets less current liabilities(651,124)(158,780)
Creditors amounts falling due after one year(1,238,757)(1,238,757)
Net assets(1,889,881)(1,397,537)
Capital and reserves
Called up share capital100100
Profit and loss account(1,889,981)(1,397,637)
Shareholders' funds(1,889,881)(1,397,537)
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2023, and are signed on its behalf by:
SONG, Ieong Kong
Director
Registered Company No. 10010670
BASIC INVESTMENT GROUP LTD
Notes to the Financial Statements
for the year ended 28 February 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.Principal activities
The principal activity of the company during the year continued to be Letting and Operating of Own Real Estate.
4.Accounting policies
Property, plant and equipment policy
Investment properties
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.
Investments policy
Investment properties are those properties that are held either to earn rental income or for capital appreciation or both. Investment properties are initially measured at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from the changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise. Investment properties are stated at fair value as determined by the Directors, based upon external valuations. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with International Valuation Standards. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements. Additions and disposal of investment properties are recognised in the accounts when the risks and rewards of the ownership are transferred.
5.Employee information

20232022
Average number of employees during the year00
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 22519,873
Additions(396,236)
At 28 February 23123,637
Net book value
At 28 February 23123,637
At 28 February 22519,873
7.Description of nature of transactions and balances with related parties
The company was under the control of Mr. Ieong Kong Song throughout the current and previous financial periods. Mr. Song is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
8.Directors advances, credits and guarantees
As at 28 February 2023, the amount of £1,238,756 owing to the director, Mr. Ieong Kong Song (it was £1,238,756 on 28 February 2022). This amount is interest free, unsecured and has no fixed repayment terms.
9.Debtors after one year
As at 28 February 2023, the amounts of £316,469 and £620,000 was owed by its associated companies Basic Investment Team Limited and Better Intelligent Management Limited respectively (they were £318,496 and £370,000 as at 28 February 2022) in which Mr. I K Song is the director and majority shareholder.