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Registered number: 09501370
Basil Capital Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
More Group (Accounting) Limited
Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors Mr Kenneth Prince-Wright
Mrs Styliani Prince-Wright
Company Number 09501370
Registered Office 65 Compton Street
London
EC1V 0BN
Accountants More Group (Accounting) Limited
65 Compton Street
London
EC1V 0BN
Page 1
Page 2
Balance Sheet
Registered number: 09501370
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,015 1,667
1,015 1,667
CURRENT ASSETS
Debtors 5 4,419 35,096
Cash at bank and in hand 119,163 34,823
123,582 69,919
Creditors: Amounts Falling Due Within One Year 6 (59,325 ) -
NET CURRENT ASSETS (LIABILITIES) 64,257 69,919
TOTAL ASSETS LESS CURRENT LIABILITIES 65,272 71,586
NET ASSETS 65,272 71,586
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 65,271 71,585
SHAREHOLDERS' FUNDS 65,272 71,586
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 19 August 2024 and were signed on its behalf by:
Mr Kenneth Prince-Wright
Director
19/08/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 1 77,679 77,680
Loss for the year and total comprehensive income - (2,094 ) (2,094)
Dividends paid - (4,000) (4,000)
As at 31 December 2022 and 1 January 2023 1 71,585 71,586
Loss for the year and total comprehensive income - (6,314 ) (6,314)
As at 31 December 2023 1 65,271 65,272
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Basil Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09501370 . The registered office is 65 Compton Street, London, EC1V 0BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office equipment 20% Reducing balance depreciation
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 4
Page 5
4. Tangible Assets
Office equipment
£
Cost
As at 1 January 2023 4,394
As at 31 December 2023 4,394
Depreciation
As at 1 January 2023 2,727
Provided during the period 652
As at 31 December 2023 3,379
Net Book Value
As at 31 December 2023 1,015
As at 1 January 2023 1,667
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 4,419 1,403
Directors' loan accounts - 33,693
4,419 35,096
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Directors' loan accounts 59,325 -
59,325 -
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 0.01 each 1 1
8. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid - 4,000
- 4,000
Page 5