Registered number
14404814
AS & BAKSHI LTD
Filleted Accounts
31 October 2023
AS & BAKSHI LTD
Registered number: 14404814
Balance Sheet
as at 31 October 2023
Notes 2023
£
Fixed assets
Tangible assets 3 475,000
Current assets
Debtors 4 50
Cash at bank and in hand 19,828
19,878
Creditors: amounts falling due within one year 5 (5,815)
Net current assets 14,063
Total assets less current liabilities 489,063
Creditors: amounts falling due after more than one year 6 (420,010)
Provisions for liabilities (13,446)
Net assets 55,607
Capital and reserves
Called up share capital 2
Revaluation reserve 7 40,339
Profit and loss account 15,266
Shareholders' funds 55,607
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ajit Singh SIDHU
Director
Approved by the board on 28 August 2024
AS & BAKSHI LTD
Notes to the Accounts
for the period from 7 October 2022 to 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Investment properties
Land and buildings
£
Cost
Additions 421,215
Surplus on revaluation 53,785
At 31 October 2023 475,000
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 475,000
Freehold land and buildings: 2023
£
Historical cost 421,215
421,215
The investment properties were measured for fair value by the directors, and in their opinion the fair value of the investment property is fairly stated.
4 Debtors 2023
£
Other debtors 50
5 Creditors: amounts falling due within one year 2023
£
Taxation and social security costs 4,377
Directors' loan account 489
Other creditors 949
5,815
6 Creditors: amounts falling due after one year 2023
£
Shareholders loan 420,010
7 Revaluation reserve 2023
£
Gain on revaluation of land and buildings 53,785
Deferred taxation arising on the revaluation of land and buildings (13,446)
At 31 October 2023 40,339
8 Related party transactions
Management fee was paid £3,300 to Shivstar Legal Services Ltd, a company incorporated in England and Wales and controlled by one of the close family member of the directors.

During the period, the company acquired a property from the directors in the sum of £400,000 in exchange of loans. The loans were shown as shareholders' loans: amounts falling due after more than one year. The loans are unsecured and the rate of interest charged is 0%.

9 Controlling party
During the period the company was controlled by its directors Mr A S and Mrs Bakshi Sidhu.
10 Other information
AS & BAKSHI LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Craneswater Park
Southall
Middlesex
United Kingdom
UB2 5RW
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