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REGISTERED NUMBER: 01249496 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Base Business Park Limited

Base Business Park Limited (Registered number: 01249496)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Base Business Park Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J A D'Arcy
Mrs J M D'Arcy
Mr R J B D'Arcy





SECRETARY: Mrs J M D'Arcy





REGISTERED OFFICE: Base Business Park
15 Britannia House
Rendlesham
Woodbridge
Suffolk
IP12 2TZ





REGISTERED NUMBER: 01249496 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Base Business Park Limited (Registered number: 01249496)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 309,032 348,128
Investments 5 1 1
Investment property 6 6,720,000 6,720,000
7,029,033 7,068,129

CURRENT ASSETS
Debtors 7 1,332,299 1,058,591
Cash at bank and in hand 83,568 126,454
1,415,867 1,185,045
CREDITORS
Amounts falling due within one year 8 2,420,654 2,346,603
NET CURRENT LIABILITIES (1,004,787 ) (1,161,558 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,024,246

5,906,571

CREDITORS
Amounts falling due after more than one
year

9

(2,407,289

)

(2,480,368

)

PROVISIONS FOR LIABILITIES 12 (326,185 ) (211,342 )
NET ASSETS 3,290,772 3,214,861

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13 3,290,672 3,214,761
SHAREHOLDERS' FUNDS 3,290,772 3,214,861

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

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

Base Business Park Limited (Registered number: 01249496)

Balance Sheet - continued
31 December 2023


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 31 July 2024 and were signed on its behalf by:





Mr J A D'Arcy - Director


Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Base Business Park Limited 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 as modified by the revaluation of certain assets.

At the 31 December 2023 the Company had net current liabilities. In meeting the Company's working capital requirements the directors have agreed to continue to support the Company for the next 12 months. On the basis that the directors consider, with their support, it appropriate to prepare the financial statements on a going concern basis, the financial statements do not contain any adjustments that would result from the withdrawal of their support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - At varying rates
Storage Containers - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Storage Motor Office
machinery Containers vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 531,698 56,292 107,804 54,307 750,101
Additions 17,668 - - 872 18,540
At 31 December 2023 549,366 56,292 107,804 55,179 768,641
DEPRECIATION
At 1 January 2023 246,963 55,205 53,419 46,386 401,973
Charge for year 33,879 1,087 19,287 3,383 57,636
At 31 December 2023 280,842 56,292 72,706 49,769 459,609
NET BOOK VALUE
At 31 December 2023 268,524 - 35,098 5,410 309,032
At 31 December 2022 284,735 1,087 54,385 7,921 348,128

Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 58,923
DEPRECIATION
At 1 January 2023 14,731
Charge for year 14,731
At 31 December 2023 29,462
NET BOOK VALUE
At 31 December 2023 29,461
At 31 December 2022 44,192

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Bentwaters Facilities Limited
Registered office: England and Wales
Nature of business: Provision of electrical services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 298,954 212,196
Profit for the year 86,758 150,229

Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 6,720,000
NET BOOK VALUE
At 31 December 2023 6,720,000
At 31 December 2022 6,720,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 2,441,000
Cost 4,279,000
6,720,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 4,279,000 4,279,000

Investment property was valued on an open market basis on 31 December 2021 by Lambert Smith Hampton .

For the year ended 31 December 2023 the directors reviewed the valuation of the investment properties on an open market basis and were of the opinion that no revaluation adjustment was required to the valuation of £6,720,000.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,165 60,802
Other debtors 1,270,134 997,789
1,332,299 1,058,591

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 59,396 59,397
Hire purchase contracts 13,685 13,686
Trade creditors 1,239 9,776
Taxation and social security 63,336 48,866
Other creditors 2,282,998 2,214,878
2,420,654 2,346,603

Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 2,397,026 2,456,421
Hire purchase contracts 10,263 23,947
2,407,289 2,480,368

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 59,396 59,397

Amounts falling due between two and five years:
Bank loans - over 1 year 2,397,026 2,456,421

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,456,422 2,515,818
Hire purchase contracts 23,948 37,633
2,480,370 2,553,451

The bank loans are secured by a debenture charge over the assets of the company and by a legal charge over all of the company's properties.

Hire purchase liabilities are secured on the assets concerned.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 326,185 211,342

Deferred
tax
£   
Balance at 1 January 2023 211,342
Charge to Income Statement during year 114,843
Balance at 31 December 2023 326,185

Base Business Park Limited (Registered number: 01249496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. RESERVES

Retained earnings



Distributable
Non -
Distributable

Total
£   £   £   
Retained earnings at 1 January 20231,001,3182,213,4433,214,761
Profit for the year135,797(59,886)75,911
Retained earnings at 31 December 20231,137,1152,153,5573,290,672

14. OTHER FINANCIAL COMMITMENTS

In addition to the security given for the bank loans in note 12, the company is party to a cross guarantee with respect to bank borrowings of related companies which at 31 December 2023 totalled £7,181,242 (2022:£7,244,041).