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REGISTERED NUMBER: 13661818 (England and Wales)















Business Standard Assets Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Business Standard Assets Ltd (Registered number: 13661818)

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


Business Standard Assets Ltd

Company Information
for the year ended 31 October 2023







Directors: J P Roulet
R L Chagaar





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 13661818 (England and Wales)





Accountants: Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Business Standard Assets Ltd (Registered number: 13661818)

Balance Sheet
31 October 2023

2023 2022
Notes
Fixed assets
Investment property 4 204,500 204,500

Current assets
Cash at bank 9 20

Creditors
Amounts falling due within one year 5 203,207 202,186
Net current liabilities (203,198 ) (202,166 )
Total assets less current liabilities 1,302 2,334

Capital and reserves
Called up share capital 6 125 125
Retained earnings 7 1,177 2,209
Shareholders' funds 1,302 2,334

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





J P Roulet - Director


Business Standard Assets Ltd (Registered number: 13661818)

Notes to the Financial Statements
for the year ended 31 October 2023


1. Statutory information

Business Standard Assets 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 comprises revenue recognised by the company in respect of rents receivable.

Investment property
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. Employees and directors

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

4. Investment property
Total
Fair value
At 1 November 2022
and 31 October 2023 204,500
Net book value
At 31 October 2023 204,500
At 31 October 2022 204,500

The investment property is valued by the director at 31 October 2022.

5. Creditors: amounts falling due within one year
2023 2022
Taxation and social security 477 518
Other creditors 202,730 201,668
203,207 202,186

Business Standard Assets Ltd (Registered number: 13661818)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value:
105 Ordinary £1 125 125

7. Reserves
Retained
earnings

At 1 November 2022 2,209
Deficit for the year (1,032 )
At 31 October 2023 1,177