Company Registration No. 11999328 (England and Wales)
Basildon Estates Limited
Unaudited accounts
for the year ended 30 November 2023
Basildon Estates Limited
Unaudited accounts
Contents
Basildon Estates Limited
Company Information
for the year ended 30 November 2023
Directors
Mr J Sofer
Mrs L Strasser
Company Number
11999328 (England and Wales)
Registered Office
C/O Marson Property Ltd
15-16 Margaret Street
London
W1W 8RW
Basildon Estates Limited
Statement of financial position
as at 30 November 2023
Inventories
13,872,917
13,897,134
Cash at bank and in hand
252,115
5,873
Creditors: amounts falling due within one year
(15,679,057)
(4,089,825)
Net current (liabilities)/assets
(1,035,939)
10,283,209
Total assets less current liabilities
(1,035,939)
10,283,209
Creditors: amounts falling due after more than one year
-
(10,850,020)
Net liabilities
(1,035,939)
(566,811)
Called up share capital
100
100
Profit and loss account
(1,036,039)
(566,911)
Shareholders' funds
(1,035,939)
(566,811)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
Mr J Sofer
Director
Company Registration No. 11999328
Basildon Estates Limited
Notes to the Accounts
for the year ended 30 November 2023
Basildon Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 11999328. The registered office is C/O Marson Property Ltd, 15-16 Margaret Street, London, W1W 8RW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Basildon Estates Limited
Notes to the Accounts
for the year ended 30 November 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Work in progress
13,872,917
13,897,134
Amounts falling due within one year
Trade debtors
137,417
134,474
Other debtors
380,669
335,553
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
318,000
321,595
Other creditors
15,236,647
3,679,141
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).