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COMPANY REGISTRATION NUMBER: 09614468
BASINGSTOKE HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 May 2022
BASINGSTOKE HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2022
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
BASINGSTOKE HOLDINGS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr B Andrews
Registered office
Lynton House
7-12 Tavistock Square
London
United Kingdom
WC1H 9BQ
BASINGSTOKE HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
1
1
CURRENT ASSETS
Debtors
5
42,457
42,457
CREDITORS: amounts falling due within one year
6
( 111,961)
( 54,222)
---------
--------
NET CURRENT LIABILITIES
( 69,504)
( 11,765)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 69,503)
( 11,764)
--------
--------
NET LIABILITIES
( 69,503)
( 11,764)
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
( 69,505)
( 11,766)
--------
--------
SHAREHOLDERS DEFICIT
( 69,503)
( 11,764)
--------
--------
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 income statement has not been delivered.
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 January 2024 , and are signed on behalf of the board by:
Mr B Andrews
Director
Company registration number: 09614468
BASINGSTOKE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Intangible assets
Development costs
£
Cost
At 1 June 2021 and 31 May 2022
1
----
Amortisation
At 1 June 2021 and 31 May 2022
----
Carrying amount
At 31 May 2022
1
----
At 31 May 2021
1
----
The cost represents payment in respect of a land option agreement.
5. Debtors
2022
2021
£
£
Other debtors
42,457
42,457
--------
--------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
83,943
Corporation tax
10,414
10,415
Other creditors
17,604
43,807
---------
--------
111,961
54,222
---------
--------
7. Events after the end of the reporting period
On 23rd December 2020 the company exchanged contracts for the sale of the asset in respect of which it holds a purchase option. This contract was terminated and replaced with a new contract dated 23rd May 2023. The sale continues to be conditional upon obtaining planning application which has been submitted and awaiting decision.
8. Director's advances, credits and guarantees
At the year end the directors loan account was overdrawn by £32,042 (2021:£32,042)