Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mrs D C Hopkins 18/05/2012 Mr M J Hopkins 18/05/2012 11 October 2024 The principal activity of the company is running of retail shops. 08072510 2024-01-31 08072510 bus:Director1 2024-01-31 08072510 bus:Director2 2024-01-31 08072510 2023-01-31 08072510 core:CurrentFinancialInstruments 2024-01-31 08072510 core:CurrentFinancialInstruments 2023-01-31 08072510 core:ShareCapital 2024-01-31 08072510 core:ShareCapital 2023-01-31 08072510 core:FurtherSpecificReserve1ComponentTotalEquity 2024-01-31 08072510 core:FurtherSpecificReserve1ComponentTotalEquity 2023-01-31 08072510 core:CapitalRedemptionReserve 2024-01-31 08072510 core:CapitalRedemptionReserve 2023-01-31 08072510 core:RetainedEarningsAccumulatedLosses 2024-01-31 08072510 core:RetainedEarningsAccumulatedLosses 2023-01-31 08072510 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-31 08072510 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-31 08072510 core:LandBuildings 2023-01-31 08072510 core:FurnitureFittings 2023-01-31 08072510 core:LandBuildings 2024-01-31 08072510 core:FurnitureFittings 2024-01-31 08072510 bus:OrdinaryShareClass1 2024-01-31 08072510 bus:OrdinaryShareClass2 2024-01-31 08072510 bus:OrdinaryShareClass3 2024-01-31 08072510 bus:OrdinaryShareClass4 2024-01-31 08072510 bus:PreferenceShareClass1 2024-01-31 08072510 2023-02-01 2024-01-31 08072510 bus:FilletedAccounts 2023-02-01 2024-01-31 08072510 bus:SmallEntities 2023-02-01 2024-01-31 08072510 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08072510 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08072510 bus:Director1 2023-02-01 2024-01-31 08072510 bus:Director2 2023-02-01 2024-01-31 08072510 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-02-01 2024-01-31 08072510 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 08072510 core:FurnitureFittings 2023-02-01 2024-01-31 08072510 2022-02-01 2023-01-31 08072510 core:LandBuildings 2023-02-01 2024-01-31 08072510 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 08072510 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 08072510 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 08072510 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 08072510 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 08072510 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 08072510 bus:OrdinaryShareClass4 2023-02-01 2024-01-31 08072510 bus:OrdinaryShareClass4 2022-02-01 2023-01-31 08072510 bus:PreferenceShareClass1 2023-02-01 2024-01-31 08072510 bus:PreferenceShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08072510 (England and Wales)

BASTINS 2012 LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

BASTINS 2012 LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

BASTINS 2012 LIMITED

BALANCE SHEET

As at 31 January 2024
BASTINS 2012 LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 872,291 875,899
Investment property 5 951,600 915,000
1,823,891 1,790,899
Current assets
Stocks 121,504 118,957
Debtors 6 7,621 16,977
Investments 36,486 50,245
Cash at bank and in hand 519,867 437,410
685,478 623,589
Creditors: amounts falling due within one year 7 ( 670,030) ( 218,726)
Net current assets 15,448 404,863
Total assets less current liabilities 1,839,339 2,195,762
Provision for liabilities ( 5,689) 0
Net assets 1,833,650 2,195,762
Capital and reserves
Called-up share capital 8 1,107,455 1,607,455
Fair value reserve ( 34,325 ) ( 70,925 )
Capital redemption reserve 500,000 0
Profit and loss account 260,520 659,232
Total shareholders' funds 1,833,650 2,195,762

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bastins 2012 Limited (registered number: 08072510) were approved and authorised for issue by the Board of Directors on 11 October 2024. They were signed on its behalf by:

Mrs D C Hopkins
Director
Mr M J Hopkins
Director
BASTINS 2012 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
BASTINS 2012 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bastins 2012 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the value of goods sold to customers during the year, less returns and Value Added Tax. Turnover is recognised on physical delivery of goods to the customer.

Turnover comprises the fair value of the consideration received or receivable in respect of the rental of investment properties. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and is accrued on a time basis.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 13

3. Intangible assets

Website costs Total
£ £
Cost
At 01 February 2023 3,115 3,115
At 31 January 2024 3,115 3,115
Accumulated amortisation
At 01 February 2023 3,115 3,115
At 31 January 2024 3,115 3,115
Net book value
At 31 January 2024 0 0
At 31 January 2023 0 0

4. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 February 2023 1,053,452 211,727 1,265,179
Additions 21,996 3,201 25,197
At 31 January 2024 1,075,448 214,928 1,290,376
Accumulated depreciation
At 01 February 2023 203,474 185,806 389,280
Charge for the financial year 21,513 7,292 28,805
At 31 January 2024 224,987 193,098 418,085
Net book value
At 31 January 2024 850,461 21,830 872,291
At 31 January 2023 849,978 25,921 875,899

5. Investment property

Investment property
£
Valuation
As at 01 February 2023 915,000
Fair value movement 36,600
As at 31 January 2024 951,600

Valuation

There has been no valuation of investment property by an independent valuer. The figure disclosed is deemed to be the fair value of the property by the directors and will be reviewed on an annual basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 857,023 875,032

6. Debtors

2024 2023
£ £
Prepayments 7,458 16,473
Other debtors 163 504
7,621 16,977

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 18,897 15,675
Amounts owed to directors 556,295 156,692
Accruals and deferred income 16,073 13,767
Taxation and social security 71,347 25,854
Other creditors 7,418 6,738
670,030 218,726

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
920,100 Ordinary A shares of £ 1.00 each 920,100 920,100
100 Ordinary B shares of £ 1.00 each 100 100
100 Ordinary C shares of £ 1.00 each 100 100
920,400 920,400
187,055 Preference redeemable shares of £ 1.00 each (2023: 687,055 shares of £ 1.00 each) 187,055 687,055
1,107,455 1,607,455