IRIS Accounts Production v24.3.0.553 07220959 director 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072209592023-04-30072209592024-04-30072209592023-05-012024-04-30072209592022-04-30072209592022-05-012023-04-30072209592023-04-3007220959ns15:EnglandWales2023-05-012024-04-3007220959ns14:PoundSterling2023-05-012024-04-3007220959ns10:Director12023-05-012024-04-3007220959ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3007220959ns10:SmallEntities2023-05-012024-04-3007220959ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3007220959ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3007220959ns10:FullAccounts2023-05-012024-04-3007220959ns10:OrdinaryShareClass12023-05-012024-04-3007220959ns10:RegisteredOffice2023-05-012024-04-3007220959ns5:CurrentFinancialInstruments2024-04-3007220959ns5:CurrentFinancialInstruments2023-04-3007220959ns5:Non-currentFinancialInstruments2024-04-3007220959ns5:Non-currentFinancialInstruments2023-04-3007220959ns5:ShareCapital2024-04-3007220959ns5:ShareCapital2023-04-3007220959ns5:RevaluationReserve2024-04-3007220959ns5:RevaluationReserve2023-04-3007220959ns5:RetainedEarningsAccumulatedLosses2024-04-3007220959ns5:RetainedEarningsAccumulatedLosses2023-04-3007220959ns5:FurnitureFittings2023-05-012024-04-3007220959ns5:FurnitureFittings2023-04-3007220959ns5:FurnitureFittings2024-04-3007220959ns5:FurnitureFittings2023-04-3007220959ns5:CostValuation2023-04-3007220959ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3007220959ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3007220959ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-04-3007220959ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-04-3007220959ns5:Non-currentFinancialInstruments2023-05-012024-04-3007220959ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3007220959ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3007220959ns5:Secured2024-04-3007220959ns5:Secured2023-04-3007220959ns10:OrdinaryShareClass12024-04-3007220959ns5:RetainedEarningsAccumulatedLosses2023-04-3007220959ns5:RevaluationReserve2023-04-3007220959ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 07220959 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

BASSCOM LTD

BASSCOM LTD (REGISTERED NUMBER: 07220959)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BASSCOM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: C Bard





REGISTERED OFFICE: 116 Bethune Road
London
N16 5DU





REGISTERED NUMBER: 07220959 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

BASSCOM LTD (REGISTERED NUMBER: 07220959)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 353 415
Investments 6 100 100
Investment property 7 1,050,000 1,050,000
1,050,453 1,050,515

CURRENT ASSETS
Debtors 8 520,001 248,001
Cash at bank 6,334 4,640
526,335 252,641
CREDITORS
Amounts falling due within one year 9 (308,567 ) (133,176 )
NET CURRENT ASSETS 217,768 119,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,221

1,169,980

CREDITORS
Amounts falling due after more than one
year

10

(827,034

)

(653,902

)

PROVISIONS FOR LIABILITIES (83,041 ) (83,041 )
NET ASSETS 358,146 433,037

CAPITAL AND RESERVES
Called up share capital 13 1 1
Revaluation reserve 14 434,904 434,904
Retained earnings 14 (76,759 ) (1,868 )
SHAREHOLDERS' FUNDS 358,146 433,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BASSCOM LTD (REGISTERED NUMBER: 07220959)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 24 January 2025 and were signed by:





C Bard - Director


BASSCOM LTD (REGISTERED NUMBER: 07220959)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Basscom Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

BASSCOM LTD (REGISTERED NUMBER: 07220959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 1,180
DEPRECIATION
At 1 May 2023 765
Charge for year 62
At 30 April 2024 827
NET BOOK VALUE
At 30 April 2024 353
At 30 April 2023 415

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 30 April 2023 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,050,000
NET BOOK VALUE
At 30 April 2024 1,050,000
At 30 April 2023 1,050,000

BASSCOM LTD (REGISTERED NUMBER: 07220959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 517,944
Cost 532,056
1,050,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by group undertakings 16 16
Other debtors 519,985 247,985
520,001 248,001

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors - 1,035
Other creditors 308,567 132,141
308,567 133,176

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 11) 795,407 617,072
Other creditors 31,627 36,830
827,034 653,902

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 795,407 617,072

Repayable by instalments
Other loans more 5yrs instal - 36,830

Other creditors includes Bounceback loan of £31,627 [2023 - £36,830]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

BASSCOM LTD (REGISTERED NUMBER: 07220959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 31,627 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 795,407 617,072

Repayable by instalments
Other loans more 5yrs instal - 36,830

12. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 795,407 617,072

Bank loan is secured by first charge over investment properties of the company.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1 1 1

14. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 (1,868 ) 434,904 433,036
Deficit for the year (74,891 ) (74,891 )
At 30 April 2024 (76,759 ) 434,904 358,145

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Lipschitz.