Registered number
14800391
Bassi Developments Limited
Filleted Accounts
30 April 2024
Bassi Developments Limited
Registered number: 14800391
Balance Sheet
as at 30 April 2024
Notes 2024
£
Fixed assets
Tangible assets 3 749,016
Current assets
Cash at bank and in hand 2,210
Creditors: amounts falling due within one year 4 (217,037)
Net current liabilities (214,827)
Total assets less current liabilities 534,189
Creditors: amounts falling due after more than one year 5 (553,505)
Net liabilities (19,316)
Capital and reserves
Called up share capital 3
Profit and loss account (19,319)
Shareholders' funds (19,316)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Bassi
Director
Approved by the board on 12 January 2025
Bassi Developments Limited
Notes to the Accounts
for the period from 14 April 2023 to 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rent receivable from the investment properties.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Investment property
Total
£
Cost
Additions 749,016
At 30 April 2024 749,016
Depreciation
At 30 April 2024 -
Net book value
At 30 April 2024 749,016
4 Creditors: amounts falling due within one year 2024
£
Other creditors 217,037
5 Creditors: amounts falling due after one year 2024
£
Other creditors 553,505
6 Loans 2024
£
Creditors include:
Secured bank loans 553,505
Bank loan is secured by way of charge on the company's assets.
7 Related party transactions
Included in creditors, amount falling due within one year, is a balance of £216,388 due to the directors of the company. This balance is interest free and repayable on demand.
8 Other information
Bassi Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
61 Windsor Road
Gravesend
Kent
DA12 5BW
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