REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2023 |
for |
Baahn Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2023 |
for |
Baahn Limited |
Baahn Limited (Registered number: 11829425) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Statement of Changes in Equity | 3 |
Notes to the Financial Statements | 4 |
Report of the Accountant | 6 |
Baahn Limited |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
t/a R J Woods & Co |
Santa Maria |
Anchor Lane, The Heath |
Dedham |
Colchester |
Essex |
CO7 6BX |
Baahn Limited (Registered number: 11829425) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Baahn Limited (Registered number: 11829425) |
Statement of Changes in Equity |
for the Year Ended 28 February 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 March 2021 | ( |
) | ( |
) |
Changes in equity |
Issue of share capital | - |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 28 February 2022 | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 28 February 2023 | ( |
) |
Baahn Limited (Registered number: 11829425) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Baahn Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Sterling (£). |
The preparation of financial statements in compliance with FRS 102, Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
Going concern: |
The directors have considered the company's position at the time of signing the financial statements. The directors have considered the company's financial strength, and have also confirmed that they will continue to financially support the company for the foreseeable future, being at least twelve months from the date of signing these financial statements. |
Based on all of this, the directors have concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparing these financial statements. |
The following principal accounting policies have been applied: |
Stocks |
Stocks represent the value of the stock of land and property held for development in the course of the ordinary activities of the company. 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. |
Baahn Limited (Registered number: 11829425) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
Debtors |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans,are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | STOCKS |
28.2.23 | 28.2.22 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade creditors |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
Ordinary | 1 |
9. | RELATED PARTY DISCLOSURES |
Other creditors includes £852,536 (2022: £789,210) in respect of monies loaned to the company by the owners for working capital purposes. These loans are unsecured, interest-free and repayable on demand. |
Baahn Limited |
Report of the Accountant to the Directors of |
Baahn Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 28 February 2023. We have prepared these financial statements based on the accounting records, information and explanations provided by you. |
As a practising member of the Association of Accounting Technicians, we are subject to its ethical and other professional requirements which are detailed at www.aat.org.uk. |
This report is made solely to the Board of Directors, as a body. Our work has been undertaken solely to prepare for your approval the accounts of the company and state those matters that we have agreed to state to the Board of Directors, as a body in this report, in accordance with the requirements of the Association of Accounting Technicians as detailed at www.aat.org.uk. To the fullest extent permitted by law we do not accept or assume responsibility to anyone other than the company and its Board of Directors as a body for our work or for this report. |
On behalf of the board, you have acknowledged that it is your duty, to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of the company. |
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 28 February 2023. Therefore the financial statements are unaudited. For this reason we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
t/a R J Woods & Co |
Santa Maria |
Anchor Lane, The Heath |
Dedham |
Colchester |
Essex |
CO7 6BX |