Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01Property development22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11790740 2023-02-01 2024-01-31 11790740 2022-02-01 2023-01-31 11790740 2024-01-31 11790740 2023-01-31 11790740 c:Director1 2023-02-01 2024-01-31 11790740 d:CurrentFinancialInstruments 2024-01-31 11790740 d:CurrentFinancialInstruments 2023-01-31 11790740 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11790740 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11790740 d:ShareCapital 2024-01-31 11790740 d:ShareCapital 2023-01-31 11790740 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 11790740 d:RetainedEarningsAccumulatedLosses 2024-01-31 11790740 d:RetainedEarningsAccumulatedLosses 2023-01-31 11790740 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 11790740 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 11790740 c:OrdinaryShareClass1 2023-02-01 2024-01-31 11790740 c:OrdinaryShareClass1 2024-01-31 11790740 c:OrdinaryShareClass1 2023-01-31 11790740 c:FRS102 2023-02-01 2024-01-31 11790740 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11790740 c:FullAccounts 2023-02-01 2024-01-31 11790740 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11790740 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11790740










BASE24 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
BASE24 LIMITED
REGISTERED NUMBER:11790740

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
783,390
776,961

Debtors: amounts falling due within one year
 6 
32,728
31,084

Cash at bank and in hand
 7 
1,435
7,978

  
817,553
816,023

Creditors: amounts falling due within one year
 8 
(817,806)
(815,764)

Net current (liabilities)/assets
  
 
 
(253)
 
 
259

Total assets less current liabilities
  
(253)
259

  

Net (liabilities)/assets
  
(253)
259


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
(353)
159

  
(253)
259


Page 1

 
BASE24 LIMITED
REGISTERED NUMBER:11790740
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 October 2024.




E E Davies
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Base24 Limited, 11790740, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Unit C, Mochdre Industrial Estate, Newtown, Powys, United Kingdom, SY16 4LE.
The principal activity of the Company is property development. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis and assumed the continued support of the directors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
783,390
776,961

783,390
776,961



6.


Debtors

2024
2023
£
£


Other debtors
31,327
31,084

Prepayments and accrued income
948
-

Deferred taxation
453
-

32,728
31,084



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,435
7,978

1,435
7,978



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
817,000
815,000

Accruals and deferred income
806
764

817,806
815,764


Page 6

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Deferred taxation




2024


£






Charged to profit or loss
453



At end of year
453

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
453
-

453
-


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders. 


12.


Related party transactions

Included within creditors due within one year is a loan for £817,000 (2023: £815,000) from Rees Machinery Group Limited, a company of which has a director in common. No interest has been charged on this balance and it is repayable on demand. 
Included within other debtors due within one year is a loan of £25,125 (2023: £18,000) due from E.E.D. Investments Limited, a company of which has a director in common. No interest has been charged on this balance and it is repayable on demand. 

Page 7

 
BASE24 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

13.


Controlling party

The Company is a wholly owned subsidiary of Rees Davies Holdings Limited, which is a UK registered company. The registered office of the parent company is 10 St Giles Business Park, Pool Road, Newtown, Powys, United Kingdom, SY16 3AJ.

 
Page 8