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REGISTERED NUMBER: 07251238 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Balsab Ltd

Balsab Ltd (Registered number: 07251238)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Balsab Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr. Tejpal Singh





REGISTERED OFFICE: 6 Westridge Avenue
Purley On Thames
Reading
Berkshire
RG8 8DE





REGISTERED NUMBER: 07251238 (England and Wales)





ACCOUNTANTS: Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL

Balsab Ltd

Report of the Accountants to the Director of
Balsab Ltd

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL


Date: .............................................

Balsab Ltd (Registered number: 07251238)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 93,862 113,130

CURRENT ASSETS
Stocks 5 5,042 5,042
Debtors 6 15,798 24,030
Cash at bank and in hand 979,501 871,975
1,000,341 901,047
CREDITORS
Amounts falling due within one year 7 (291,753 ) (290,953 )
NET CURRENT ASSETS 708,588 610,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

802,450

723,224

PROVISIONS FOR LIABILITIES 8 (13,325 ) (15,996 )
NET ASSETS 789,125 707,228

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 789,025 707,128
SHAREHOLDERS' FUNDS 789,125 707,228

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

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

The director acknowledges his 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.

Balsab Ltd (Registered number: 07251238)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:





Mr. Tejpal Singh - Director


Balsab Ltd (Registered number: 07251238)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Balsab Ltd 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.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 43 ) .

Balsab Ltd (Registered number: 07251238)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 381,154 191,139 34,312 58,616 665,221
Additions - 3,738 - 1,065 4,803
At 31 December 2023 381,154 194,877 34,312 59,681 670,024
DEPRECIATION
At 1 January 2023 316,565 169,087 23,904 42,535 552,091
Charge for year 10,735 6,447 2,602 4,287 24,071
At 31 December 2023 327,300 175,534 26,506 46,822 576,162
NET BOOK VALUE
At 31 December 2023 53,854 19,343 7,806 12,859 93,862
At 31 December 2022 64,589 22,052 10,408 16,081 113,130

5. STOCKS
2023 2022
£    £   
Stocks 5,042 5,042

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,531 23,777
Prepayments 267 253
15,798 24,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,398 34,812
Corporation tax 39,778 40,478
Social security and other tax 11,812 5,049
VAT 50,581 52,510
Directors' current accounts 155,416 155,393
Accrued expenses 2,768 2,711
291,753 290,953

Balsab Ltd (Registered number: 07251238)

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

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 13,325 15,996

Deferred
tax
£   
Balance at 1 January 2023 15,996
Provided during year (2,671 )
Balance at 31 December 2023 13,325

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2023 707,128
Profit for the year 121,897
Dividends (40,000 )
At 31 December 2023 789,025

11. RELATED PARTY DISCLOSURES

During the year, dividend of £40,000 (PY - £30,000) declared and paid to Mr. Tejpal Singh. Mr. Tejpal Singh is also a director of the company.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr. Tejpal Singh who owns 100% of the issued share capital of the company. Mr. Tejpal Singh is also a director of the company.