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Company Registration No. 10773697 (England and Wales)
Basanite Limited Unaudited accounts for the year ended 31 May 2024
Basanite Limited Unaudited accounts Contents
Page
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Basanite Limited Company Information for the year ended 31 May 2024
Directors
Wei Shao Zhang Qiong
Company Number
10773697 (England and Wales)
Registered Office
2 CUMBERLAND TERRACE ORCHARD ROAD HOVE BN3 7DR ENGLAND
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Basanite Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,408,252 
1,408,721 
Current assets
Cash at bank and in hand
9,658 
2,287 
Creditors: amounts falling due within one year
(1,412,710)
(1,440,065)
Net current liabilities
(1,403,052)
(1,437,778)
Net assets/(liabilities)
5,200 
(29,057)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
5,190 
(29,067)
Shareholders' funds
5,200 
(29,057)
For the year ending 31 May 2024 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 31 August 2024 and were signed on its behalf by
Zhang Qiong Director Company Registration No. 10773697
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Basanite Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Basanite Limited is a private company, limited by shares, registered in England and Wales, registration number 10773697. The registered office is 2 CUMBERLAND TERRACE, ORCHARD ROAD, HOVE, BN3 7DR, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on cost
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
1,406,847 
4,370 
1,411,217 
At 31 May 2024
1,406,847 
4,370 
1,411,217 
Depreciation
At 1 June 2023
- 
2,496 
2,496 
Charge for the year
- 
469 
469 
At 31 May 2024
- 
2,965 
2,965 
Net book value
At 31 May 2024
1,406,847 
1,405 
1,408,252 
At 31 May 2023
1,406,847 
1,874 
1,408,721 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,444 
- 
Loans from directors
1,411,266 
1,440,065 
1,412,710 
1,440,065 
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Basanite Limited Notes to the Accounts for the year ended 31 May 2024
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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