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REGISTERED NUMBER: 03166744 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BASEWARE LIMITED

BASEWARE LIMITED (REGISTERED NUMBER: 03166744)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


BASEWARE LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mrs T S Deverell
Mrs L M Clarke





SECRETARY: Mrs T S Deverell





REGISTERED OFFICE: 206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS





REGISTERED NUMBER: 03166744 (England and Wales)





ACCOUNTANTS: F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

BASEWARE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
BASEWARE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS


1 August 2024

BASEWARE LIMITED (REGISTERED NUMBER: 03166744)

BALANCE SHEET
31 March 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
668 Tangible assets 5 1,014
650,000 Investment property 6 650,000
650,668 651,014

CURRENT ASSETS
13,435 Cash at bank 14,306

CREDITORS
140,037 Amounts falling due within one year 7 140,414
(126,602 ) NET CURRENT LIABILITIES (126,108 )
524,066 TOTAL ASSETS LESS CURRENT
LIABILITIES

524,906

75,502 PROVISIONS FOR LIABILITIES 77,360
448,564 NET ASSETS 447,546

CAPITAL AND RESERVES
2 Called up share capital 2
448,562 Retained earnings 447,544
448,564 SHAREHOLDERS' FUNDS 447,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 1 August 2024 and were signed on its behalf by:





Mrs L M Clarke - Director


BASEWARE LIMITED (REGISTERED NUMBER: 03166744)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Baseware Ltd is a private company, limited by shares and registered in England and Wales.

The company's registered number and registered office address are as follows

Registered number: 03166744

Registered office: 206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

The presentation currency of the financial statements is the Pound Sterling (£)

The principal activity of the company in the year under review was that of property investors.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost basis

Unlike most businesses the company has had very little impact by the Coronavirus (Covid 19).
.
The company has not qualified for any grants and benefits available from the Government but are considering the steps necessary to protect the future of the business where appropriate..

Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

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.
Office equipment - 15% on reducing balance

Investment property
Investment Property is included at fair value. Gains are recognised in the income statement .Deferred taxation is provided on these gains at the rate expected to apply when the property is sold


BASEWARE LIMITED (REGISTERED NUMBER: 03166744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2023 924
Additions 525
At 31 March 2024 1,449
DEPRECIATION
At 1 April 2023 256
Charge for year 179
At 31 March 2024 435
NET BOOK VALUE
At 31 March 2024 1,014
At 31 March 2023 668

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 650,000
NET BOOK VALUE
At 31 March 2024 650,000
At 31 March 2023 650,000

BASEWARE LIMITED (REGISTERED NUMBER: 03166744)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 8,078 7,557
VAT 4,038 4,167
Income tax due 3,600 3,600
Directors' current accounts 120,000 120,000
Accruals & deferred income 4,698 4,713
140,414 140,037