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Registration number: 14060608

Baseball Developments Limited

Unaudited Filleted Financial Statements

for the Period from 21 April 2022 to 30 April 2023

 

Baseball Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Baseball Developments Limited

Company Information

Directors

Mr TPM Ho

Mr JN Varley

Registered office

128 City Road
London
EC1V 2NX

Registered number

14060608

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Baseball Developments Limited

(Registration number: 14060608)
Balance Sheet as at 30 April 2023

Note

2023
£

Fixed assets

 

Investment property

4

6,000,000

Investments

5

2

 

6,000,002

Creditors: Amounts falling due within one year

6

(3,602)

Total assets less current liabilities

 

5,996,400

Creditors: Amounts falling due after more than one year

6

(6,085,041)

Net liabilities

 

(88,641)

Capital and reserves

 

Called up share capital

7

(60)

Retained earnings

(88,581)

Shareholders' deficit

 

(88,641)

 

Baseball Developments Limited

(Registration number: 14060608)
Balance Sheet as at 30 April 2023

For the financial period ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2024 and signed on its behalf by:
 

.........................................
Mr TPM Ho
Director

 

Baseball Developments Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2022 to 30 April 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
128 City Road
London
EC1V 2NX
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis on a understanding that parent company will continue to support for the foreseeable future.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Baseball Developments Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2022 to 30 April 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 2.

4

Investment properties

2023
£

Additions

6,000,000

At 30 April

6,000,000

The investment properties was purchased for £6,000,000 on 28 February 2023.

5

Investments

2023
£

Investments in subsidiaries

2

 

Baseball Developments Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2022 to 30 April 2023

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 30 April 2023

2

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

Subsidiary undertakings

Baseball Developments (Sub Co) Limited

128 City Road, London

United Kingdom

Ordinary shares

100%

Hill & Standard Developments Limited

Opus Restructuring Llp 1 Radian Court, Knowlhill, Milton Keynes,

Buckinghamshire

Ordinary shares

100%

Subsidiary undertakings

Baseball Developments (Sub Co) Limited

The principal activity of Baseball Developments (Sub Co) Limited is buying and selling of own real estate.

Hill & Standard Developments Limited

The principal activity of Hill & Standard Developments Limited is management of real estate on a fee or contract basis..

Baseball Developments (Sub Co) Limited is dormant through the period.

The company acquired Hill & Standard Developments Limited for NIL consideration. Hill & Standard Developments Limited went into administration.

 

Baseball Developments Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2022 to 30 April 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Accruals and deferred income

3,600

Other creditors

2

3,602

Creditors: amounts falling due after more than one year

2023
£

Other non-current financial liabilities

6,085,041

 

Baseball Developments Limited

Notes to the Unaudited Financial Statements for the Period from 21 April 2022 to 30 April 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

60

60

     

8

Related party transactions

As at balance sheet date, the company owed £6,085,041 to the shareholder of the company, Everland Opportunities III Limited.

Included in the balance, £6,000,000 relates to interest free loan provided for the purchase of the properties.

Included in the balance, £83,522 relates to loan on which 11.25% interest is chargeable per annum.

Included in the balance, £1,459 relates to interest portion charged during the year on the loan of £83,522.

The loans were secured against the properties of the company.

9

Post balance sheet events

The company had obtained loan from Westfields (Holding) Limited and Assetz Capital Trust Company Limited after the year end and properties charges were registered against the loans.