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Company Registration No. 13662254 (England and Wales)
BASELIME LIMITED Unaudited accounts for the year ended 31 October 2023
BASELIME LIMITED Unaudited accounts Contents
Page
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BASELIME LIMITED Company Information for the year ended 31 October 2023
Director
TANE KEGNE, Boris Dorian
Company Number
13662254 (England and Wales)
Registered Office
Baselime Limited 86-90 Paul Street London EC2A 4NE United Kingdom
Accountants
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY
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BASELIME LIMITED Accountants' report
Accountants' report to the director of BASELIME LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BASELIME LIMITED for the year ended 31 October 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of BASELIME LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of BASELIME LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BASELIME LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BASELIME LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of BASELIME LIMITED. You consider that BASELIME LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of BASELIME LIMITED. 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.
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY 3 April 2024
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BASELIME LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,869 
4,771 
Current assets
Debtors
2,670 
1,150 
Cash at bank and in hand
1,008,742 
1,425,283 
1,011,412 
1,426,433 
Creditors: amounts falling due within one year
(3,171)
6,544 
Net current assets
1,008,241 
1,432,977 
Total assets less current liabilities
1,013,110 
1,437,748 
Creditors: amounts falling due after more than one year
(1,511,100)
(1,511,100)
Net liabilities
(497,990)
(73,352)
Capital and reserves
Called up share capital
1 
1 
Share premium
120,000 
120,000 
Profit and loss account
(617,991)
(193,353)
Shareholders' funds
(497,990)
(73,352)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2024 and were signed on its behalf by
TANE KEGNE, Boris Dorian Director Company Registration No. 13662254
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BASELIME LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
BASELIME LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13662254. The registered office is Baselime Limited, 86-90 Paul Street, London, EC2A 4NE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight-Line - 3 years
Going concern
The financial statements have been prepared on a going concern basis; the company has a strong balance sheet including year-end cash balance of £1m. Based on this, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and it is therefore appropriate to adopt the going concern basis in preparing the annual financial statements.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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BASELIME LIMITED Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 November 2022
5,089 
Additions
1,835 
At 31 October 2023
6,924 
Depreciation
At 1 November 2022
318 
Charge for the year
1,737 
At 31 October 2023
2,055 
Net book value
At 31 October 2023
4,869 
At 31 October 2022
4,771 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,670 
1,101 
Other debtors
- 
49 
2,670 
1,150 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
296 
26 
Taxes and social security
- 
(7,156)
Other creditors
1,545 
586 
Loans from directors
669 
- 
Accruals
661 
- 
3,171 
(6,544)
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Non-equity preference shares
1,511,100 
1,511,100 
The amounts falling due after one year are Simple Agreement for Future Equity (SAFE)
8
Average number of employees
During the year the average number of employees was 4 (2022: 1).
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