Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01No description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05098942 2023-05-01 2024-04-30 05098942 2022-05-01 2023-04-30 05098942 2024-04-30 05098942 2023-04-30 05098942 c:Director1 2023-05-01 2024-04-30 05098942 d:LeaseholdInvestmentProperty 2024-04-30 05098942 d:LeaseholdInvestmentProperty 2023-04-30 05098942 d:CurrentFinancialInstruments 2024-04-30 05098942 d:CurrentFinancialInstruments 2023-04-30 05098942 d:Non-currentFinancialInstruments 2024-04-30 05098942 d:Non-currentFinancialInstruments 2023-04-30 05098942 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 05098942 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05098942 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 05098942 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 05098942 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 05098942 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 05098942 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 05098942 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 05098942 d:ShareCapital 2024-04-30 05098942 d:ShareCapital 2023-04-30 05098942 d:InvestmentPropertiesRevaluationReserve 2024-04-30 05098942 d:InvestmentPropertiesRevaluationReserve 2023-04-30 05098942 d:RetainedEarningsAccumulatedLosses 2024-04-30 05098942 d:RetainedEarningsAccumulatedLosses 2023-04-30 05098942 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 05098942 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 05098942 c:OrdinaryShareClass1 2023-05-01 2024-04-30 05098942 c:OrdinaryShareClass1 2024-04-30 05098942 c:OrdinaryShareClass1 2023-04-30 05098942 c:FRS102 2023-05-01 2024-04-30 05098942 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05098942 c:FullAccounts 2023-05-01 2024-04-30 05098942 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05098942 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05098942









BABALI INVESTMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
BABALI INVESTMENT LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BABALI INVESTMENT LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BABALI INVESTMENT LIMITED for the year ended 30 April 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of BABALI INVESTMENT LIMITED in accordance with the terms of our engagement letter dated 22 April 2020Our work has been undertaken solely to prepare for your approval the financial statements of BABALI INVESTMENT LIMITED and state those matters that we have agreed to state to the director of BABALI INVESTMENT LIMITED in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BABALI INVESTMENT LIMITED and its director for our work or for this report. 

It is your duty to ensure that BABALI INVESTMENT LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BABALI INVESTMENT LIMITED. You consider that BABALI INVESTMENT LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of BABALI INVESTMENT LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hurkan Sayman & Co
 
Chartered Accountants
  
291 Green Lanes
Palmers Green
London
N13 4XS
13 January 2025
Page 1

 
BABALI INVESTMENT LIMITED
REGISTERED NUMBER: 05098942

BALANCE SHEET
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
250,000
250,000

Current assets
  

Cash at bank and in hand
 5 
113
2,144

Creditors: amounts falling due within one year
 6 
(71,174)
(69,990)

Net current liabilities
  
 
 
(71,061)
 
 
(67,846)

Total assets less current liabilities
  
178,939
182,154

Creditors: amounts falling due after more than one year
 7 
(14,615)
(18,120)

Provisions for liabilities
  

Deferred tax
 9 
(8,137)
(8,137)

  
 
 
(8,137)
 
 
(8,137)

Net assets
  
156,187
155,897


Capital and reserves
  

Called up share capital 
 10 
100
100

Investment property reserve
  
102,726
102,726

Profit and loss account
  
53,361
53,071

  
156,187
155,897


The director considers 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 director acknowledges his 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 profit and loss account 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 by: 

Page 2

 
BABALI INVESTMENT LIMITED
REGISTERED NUMBER: 05098942
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024


Ercan Babali
Director
Date: 13 January 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
BABALI INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

BABALI INVESTMENT LIMITED is a private company limited by share capital, incorporated in England and Wales, registration number 05098942. The address of the registered office is 291 Green Lanes, Palmers Green, London, N13 4XS.

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

Revenue

Rental income 
Rental income from investment properties is recognised on a straight-line basis over the term of the lease. The revenue recognitition commences when the tenant takes possession or controls the physical use of the leased space.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
BABALI INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 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

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

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.

 
2.8

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.

Page 5

 
BABALI INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2023
250,000



At 30 April 2024
250,000

The 2024 valuations were made by the Director, on an open market value for existing use basis.





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
113
2,144

113
2,144


Page 6

 
BABALI INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,654
3,803

Trade creditors
7,187
5,176

Corporation tax
3,840
3,509

Other taxation and social security
488
622

Other creditors
55,480
56,080

Accruals and deferred income
525
800

71,174
69,990



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,615
18,120

14,615
18,120



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,654
3,803

Amounts falling due 2-5 years

Bank loans
14,615
15,211

Amounts falling due after more than 5 years

Bank loans
-
2,910

18,269
21,924


Bank loans totaling £21,924 at the year end are secured by way of charge over the company's investment 


9.


Deferred taxation

Page 7

 
BABALI INVESTMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
9.Deferred taxation (continued)




2024


£






At beginning of year
(8,137)



At end of year
(8,137)

The provision for deferred taxation is made up as follows:

As restated
2024
2023
£
£


Fair value movements in investment properties
(8,137)
(8,137)

(8,137)
(8,137)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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


 
Page 8