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REGISTERED NUMBER: 12950973 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BANIM DEVELOPMENTS LTD

BANIM DEVELOPMENTS LTD (REGISTERED NUMBER: 12950973)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BANIM DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Florian Azemi





REGISTERED OFFICE: 9 Lauderdal Parade
Lauderdale Road
London
W9 1LU





REGISTERED NUMBER: 12950973 (England and Wales)





ACCOUNTANTS: Stan Lee Accountancy Ltd (T/A: The Stan Lee)
Chartered Certified Accountants
40 Bank Street, 18th Floor
Canary Wharf
London
E14 5NR

BANIM DEVELOPMENTS LTD (REGISTERED NUMBER: 12950973)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 238,962 185,587
Cash at bank and in hand 2,008 12,726
240,970 198,313
CREDITORS
Amounts falling due within one year 5 246,552 190,449
NET CURRENT (LIABILITIES)/ASSETS (5,582 ) 7,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,582

)

7,864

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 7 (5,583 ) 7,863
SHAREHOLDERS' FUNDS (5,582 ) 7,864

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2024 and were signed by:



Florian Azemi - Director


BANIM DEVELOPMENTS LTD (REGISTERED NUMBER: 12950973)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Banim Developments 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.

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 Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Going concern
No material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern have been indentified by the director.

BANIM DEVELOPMENTS LTD (REGISTERED NUMBER: 12950973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. STOCKS
2023 2022
£    £   
Property inventory 238,962 185,587

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax - 1,847
Directors' current accounts 245,220 187,270
Accrued expenses 1,332 1,332
246,552 190,449

6. CALLED UP SHARE CAPITAL

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

7. RESERVES
Retained
earnings
£   

At 1 November 2022 7,863
Deficit for the year (13,446 )
At 31 October 2023 (5,583 )

BANIM DEVELOPMENTS LTD (REGISTERED NUMBER: 12950973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the current and previous years, the Company was under the control of its director, by the virtue of his ownership of the entire issued share capital of the Company.

At the balance sheet date, the Company owed its director £245,220 (2022 : £187,270). The loan carries no interest and is repayable in full at short notice on demand.