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REGISTERED NUMBER: 06836000 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Bascs Limited

Bascs Limited (Registered number: 06836000)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bascs Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: I Agnew
Ms H S Bisset
Mrs S Agnew
J M Couling





REGISTERED OFFICE: Unit 19, Aspen Close
Kembrey Trade Park
Swindon
Wiltshire
SN2 8AJ





REGISTERED NUMBER: 06836000 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

Bascs Limited (Registered number: 06836000)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,626 38,674

CURRENT ASSETS
Stocks 17,431 18,778
Debtors 5 89,862 98,161
Cash at bank and in hand 143,428 190,354
250,721 307,293
CREDITORS
Amounts falling due within one year 6 192,764 307,595
NET CURRENT ASSETS/(LIABILITIES) 57,957 (302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,583

38,372

PROVISIONS FOR LIABILITIES 4,656 7,348
NET ASSETS 71,927 31,024

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 70,927 30,024
SHAREHOLDERS' FUNDS 71,927 31,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Bascs Limited (Registered number: 06836000)

Balance Sheet - continued
31st March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2023 and were signed on its behalf by:





I Agnew - Director


Bascs Limited (Registered number: 06836000)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

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

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 reducing balance, 25% on reducing balance and 15% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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.

Bascs Limited (Registered number: 06836000)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 7 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 75,068
Disposals (35,662 )
At 31st March 2023 39,406
DEPRECIATION
At 1st April 2022 36,394
Charge for year 5,757
Eliminated on disposal (21,371 )
At 31st March 2023 20,780
NET BOOK VALUE
At 31st March 2023 18,626
At 31st March 2022 38,674

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 88,432 95,750
Other debtors 1,430 2,411
89,862 98,161

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 35,833 45,343
Trade creditors 33,774 118,548
Taxation and social security 39,770 25,205
Other creditors 83,387 118,499
192,764 307,595

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 41,500 41,500
Between one and five years - 41,500
41,500 83,000