Registered number
10087717
BASRI LTD
Filleted Accounts
27 February 2023
BASRI LTD
Registered number: 10087717
Balance Sheet
as at 27 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 41,450 36,880
Current assets
Stocks 4,225 1,630
Cash at bank and in hand 21,743 40,681
25,968 42,311
Creditors: amounts falling due within one year 4 (41,783) (42,361)
Net current liabilities (15,815) (50)
Total assets less current liabilities 25,635 36,830
Creditors: amounts falling due after more than one year 5 (11,900) (18,284)
Net assets 13,735 18,546
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,635 18,446
Shareholder's funds 13,735 18,546
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Isa Yilmaz
Director
Approved by the board on 15 October 2023
BASRI LTD
Notes to the Accounts
for the year ended 27 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed asset, other than in the year of acquisition at rates calculated to write off the cost, less estimated residual value, as follows;
Fix, fittings & equipment 18% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Corporation tax liability is not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 28 February 2022 43,778
Additions 11,208
At 27 February 2023 54,986
Depreciation
At 28 February 2022 6,898
Charge for the year 6,638
At 27 February 2023 13,536
Net book value
At 27 February 2023 41,450
At 27 February 2022 36,880
4 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 6,299 5,551
Bank loans 6,504 6,688
V.A.T. (1,148) 3,070
Trade creditors 472 549
Social security costs 1,783 1,705
Other creditors 27,873 24,798
41,783 42,361
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,900 18,284
6 Other information
BASRI LTD is a private company limited by shares and incorporated in England. Its registered office is:
147 Cranbrook Road
Ilford
Essex
IG1 4PU
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