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Registered Number: 12033724
England and Wales

 

 

 

UNDERPINNING BASEMENTS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 5,616    6,732 
5,616    6,732 
Current assets      
Debtors 60,983    33,275 
Cash at bank and in hand 12,090    23,546 
73,073    56,821 
Creditors: amount falling due within one year (61,412)   (36,863)
Net current assets 11,661    19,958 
 
Total assets less current liabilities 17,277    26,690 
Creditors: amount falling due after more than one year (17,083)   (20,833)
Net assets 194    5,857 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 94    5,757 
Shareholder's funds 194    5,857 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 February 2024 and were signed on its behalf by:


-------------------------------
Sabi Tanchev
Director
-------------------------------
Iliya Iliev
Director
1
General Information
UNDERPINNING BASEMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 12033724, registration address 45 Hampton Road, London, E4 8NH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Commercial Vehicles 18% Reducing Balance
Equipment 33% Straight Line
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Commercial Vehicles   Equipment   Total
  £   £   £
At 01 July 2022 9,500    1,582    11,082 
Additions   415    415 
Disposals    
At 30 June 2023 9,500    1,997    11,497 
Depreciation
At 01 July 2022 4,262    88    4,350 
Charge for year 943    588    1,531 
On disposals    
At 30 June 2023 5,205    676    5,881 
Net book values
Closing balance as at 30 June 2023 4,295    1,321    5,616 
Opening balance as at 01 July 2022 5,238    1,494    6,732 


2