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Registered number: 05570429
Bas 1 Embroidery & Printing Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05570429
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 259,573 293,956
259,573 293,956
CURRENT ASSETS
Stocks 5 125,830 161,029
Debtors 6 540,750 220,545
Cash at bank and in hand 83,053 33,169
749,633 414,743
Creditors: Amounts Falling Due Within One Year 7 (748,453 ) (722,882 )
NET CURRENT ASSETS (LIABILITIES) 1,180 (308,139 )
TOTAL ASSETS LESS CURRENT LIABILITIES 260,753 (14,183 )
Creditors: Amounts Falling Due After More Than One Year 8 (248,530 ) (150,986 )
NET ASSETS/(LIABILITIES) 12,223 (165,169 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 12,123 (165,269 )
SHAREHOLDERS' FUNDS 12,223 (165,169)
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M S Basi
Director
17 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bas 1 Embroidery & Printing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05570429 . The registered office is Unit 8 Manor Way Business Centre, Fairview Industrial Estate Marsh Way, Rainham, Essex, RM13 8UG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 10% reducing balance basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 19)
23 19
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2023 403,269 110,345 - 513,614
Additions - - 300 300
As at 31 October 2024 403,269 110,345 300 513,914
Depreciation
As at 1 November 2023 162,189 57,469 - 219,658
Provided during the period 24,108 10,575 - 34,683
As at 31 October 2024 186,297 68,044 - 254,341
Net Book Value
As at 31 October 2024 216,972 42,301 300 259,573
As at 1 November 2023 241,080 52,876 - 293,956
5. Stocks
2024 2023
£ £
Materials 125,830 161,029
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 190,338 220,545
Other debtors 350,412 -
540,750 220,545
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 48,313 50,593
Trade creditors 553,620 496,943
Bank loans and overdrafts 70,517 34,653
Other creditors 927 31,880
Taxation and social security 75,076 108,813
748,453 722,882
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 55,031 93,898
Bank loans 193,499 57,088
248,530 150,986
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 48,313 50,593
Later than one year and not later than five years 55,031 93,898
103,344 144,491
103,344 144,491
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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