Registration number:
Prepared for the registrar
for the
Year Ended 31 October 2024
Basingstoke Land Ltd
(Registration number: 09266949)
Balance Sheet as at 31 October 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investment property |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Total assets less current liabilities |
|
|
|
Deferred tax liabilities |
(6,778) |
(6,778) |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
1 |
1 |
|
Revaluation reserve |
24,222 |
24,222 |
|
Profit and loss account |
(11,120) |
(9,693) |
|
Shareholders' funds |
13,103 |
14,530 |
For the financial 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.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Basingstoke Land Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Revenue recognition
Turnover comprises the fair value of the rents received or receivable in respect of the investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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 specific criteria have been met for the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date.
Investment property
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Basingstoke Land Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
£ |
|
At 1 November 2023 |
|
At 31 October 2024 |
|
At 31 October 2024, the land was valued by the director on an open market basis. The carrying amount at historical cost is £54,000 (2023 - £54,000).
Creditors |
2024 |
2023 |
|
Due within one year |
||
Amounts due to related parties |
64,049 |
62,892 |
Accruals and deferred income |
|
|
|
|
Related party transactions |
Summary of transactions with other related parties