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COMPANY REGISTRATION NUMBER: 05525784
BALA 1 LIMITED
Filleted Unaudited Financial Statements
31 December 2023
BALA 1 LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
248,879
248,879
Current assets
Cash at bank and in hand
39,177
30,178
Creditors: amounts falling due within one year
5
5,481
3,331
--------
--------
Net current assets
33,696
26,847
---------
---------
Total assets less current liabilities
282,575
275,726
Creditors: amounts falling due after more than one year
6
170,000
170,000
---------
---------
Net assets
112,575
105,726
---------
---------
BALA 1 LIMITED
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
112,475
105,626
---------
---------
Shareholders funds
112,575
105,726
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
Mr B Yasothapalan
Director
Company registration number: 05525784
BALA 1 LIMITED
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Markham Road, Cheshunt, Waltham Cross, Hertfordshire, EN7 6WN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the amount of current tax which is recognised on taxable profit for the current and past periods.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1st January 2023 and 31st December 2023
248,879
11,022
259,901
---------
--------
---------
Depreciation
At 1st January 2023 and 31st December 2023
11,022
11,022
---------
--------
---------
Carrying amount
At 31st December 2023
248,879
248,879
---------
--------
---------
At 31st December 2022
248,879
248,879
---------
--------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,790
2,653
Other creditors
691
678
-------
-------
5,481
3,331
-------
-------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
170,000
170,000
---------
---------
Bank loan of £170,000 is secured by a legal mortgage over the company's property.