Basecampvan Ltd
Registered number: 06183147
Statement of Financial Position
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 14,244 40,672
Current assets
Debtors 4 2,760 3,500
Cash at bank and in hand 48,916 46,715
51,676 50,215
Creditors: amounts falling due within one year 5 (8,250) (4,499)
Net current assets 43,426 45,716
Total assets less current liabilities 57,670 86,388
Provisions for liabilities (2,299) (7,728)
Net assets 55,371 78,660
Capital and reserves
Called up share capital 100 100
Profit and loss account 55,271 78,560
Shareholder's funds 55,371 78,660
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Valintine
Director
Approved by the board on 9 February 2024
Basecampvan Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Vans and parts 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Vans and parts Total
£ £ £
Cost
At 1 June 2022 1,274 67,412 68,686
Disposals - (41,145) (41,145)
At 31 May 2023 1,274 26,267 27,541
Depreciation
At 1 June 2022 528 27,486 28,014
Charge for the year 187 3,098 3,285
On disposals - (18,002) (18,002)
At 31 May 2023 715 12,582 13,297
Net book value
At 31 May 2023 559 13,685 14,244
At 31 May 2022 746 39,926 40,672
4 Debtors 2023 2022
£ £
Trade debtors - 1,920
Prepayments - 138
Other debtors 2,760 1,442
2,760 3,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 498 498
Accruals 1,308 1,040
Corporation tax 2,323 2,875
Other taxes and social security costs 1,321 -
Other creditors 2,800 86
8,250 4,499
6 Other information
Basecampvan Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Paddock Court
Hartley Wintney
Hampshire
RG27 8LL
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