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REGISTERED NUMBER: 14219327 (England and Wales)















Basbro Corporation Ltd

Unaudited Financial Statements for the Year Ended 31 July 2024






Basbro Corporation Ltd (Registered number: 14219327)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Basbro Corporation Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mrs D K Basi





REGISTERED OFFICE: 3-5 London Road
Rainham
Gillingham
ME8 7RG





BUSINESS ADDRESS: Clijon Farm
White Hill Road
Meopham
Kent
DA13 0NY





REGISTERED NUMBER: 14219327 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Basbro Corporation Ltd (Registered number: 14219327)

Statement of Financial Position
31 July 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 413,798 413,798

CURRENT ASSETS
Debtors 5 11,526 10
Cash at bank and in hand 11,641 5,539
23,167 5,549
CREDITORS
Amounts falling due within one year 6 435,369 426,564
NET CURRENT LIABILITIES (412,202 ) (421,015 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,596 (7,217 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,496 (7,317 )
1,596 (7,217 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 1 October 2024 and were signed by:




Mrs D K Basi - Director


Basbro Corporation Ltd (Registered number: 14219327)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Basbro Corporation Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

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

Income recognition
Income represents the fair value of consideration received or receivable derived from rental of the investment property and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

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

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

Basbro Corporation Ltd (Registered number: 14219327)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 413,798
NET BOOK VALUE
At 31 July 2024 413,798
At 31 July 2023 413,798

The investment property was valued on a fair value basis by the director at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 11,526 -
Other debtors - 10
11,526 10

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Amounts owed to group undertakings 425,965 425,965
Taxation and social security 1,736 -
Other creditors 7,668 599
435,369 426,564

7. RELATED PARTY DISCLOSURES

Included in other creditors is £425,965 owed to Basi Developments Limited, a company of which D K Basi is also a director.