Company Registration No. 05688947 (England and Wales)
Basron Developments Limited
Unaudited financial statements
For the year ended 31 December 2023
Pages for filing with registrar
BASRON DEVELOPMENTS LIMITED
Basron Developments Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BASRON DEVELOPMENTS LIMITED
Basron Developments Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
Current assets
Stocks
3,864,693
3,179,137
Debtors
3
52,906
4,162
Cash at bank and in hand
-
0
33,182
3,917,599
3,216,481
Creditors: amounts falling due within one year
4
(1,467,415)
(1,076,431)
Net current assets
2,450,184
2,140,050
Creditors: amounts falling due after more than one year
5
(3,138,791)
(2,645,201)
Net liabilities
(688,607)
(505,151)
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
(688,807)
(505,351)
Total equity
(688,607)
(505,151)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 September 2024 and are signed on its behalf by:
M M S McPhail
Director
Company Registration No. 05688947
BASRON DEVELOPMENTS LIMITED
Basron Developments Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Basron Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Stocks

Work in progress is valued at the lower of cost and net realisable value.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.5

Going concern

The financial statements have been prepared on the going concern basis, as the directors have confirmed that funds will continue to be made available from a related entity to enable the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that might result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
52,906
4,162
BASRON DEVELOPMENTS LIMITED
Basron Developments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,385
-
0
Trade creditors
159,187
42,229
Amounts owed to related undertakings
527,033
473,045
Other creditors
778,810
561,157
1,467,415
1,076,431
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,138,791
2,645,201

The aggregate amount of creditors for which security has been given amounted £2,645,201 (2022: £2,645,201).

 

6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 "A" Ordinary shares of £1 each
100
100
100 "B" Ordinary shares of £1 each
100
100
200
200

Both classes of shares rank pari passu in all respects.

2023-12-312023-01-01false11 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityM M S McPhailRazzakM M S McPhailfalsefalse056889472023-01-012023-12-31056889472023-12-31056889472022-12-3105688947core:Non-currentFinancialInstruments2023-12-3105688947core:Non-currentFinancialInstruments2022-12-3105688947core:CurrentFinancialInstruments2023-12-3105688947core:CurrentFinancialInstruments2022-12-3105688947core:ShareCapital2023-12-3105688947core:ShareCapital2022-12-3105688947core:RetainedEarningsAccumulatedLosses2023-12-3105688947core:RetainedEarningsAccumulatedLosses2022-12-3105688947core:ShareCapitalOrdinaryShares2023-12-3105688947core:ShareCapitalOrdinaryShares2022-12-3105688947bus:CompanySecretaryDirector12023-01-012023-12-3105688947core:WithinOneYear2023-12-3105688947core:WithinOneYear2022-12-3105688947bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105688947bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105688947bus:FRS1022023-01-012023-12-3105688947bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105688947bus:Director12023-01-012023-12-3105688947bus:Director22023-01-012023-12-3105688947bus:CompanySecretary12023-01-012023-12-3105688947bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP