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REGISTERED NUMBER: 04145856 (England and Wales)





BASFORDS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






BASFORDS LTD (REGISTERED NUMBER: 04145856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BASFORDS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr C Deaton





SECRETARY: Mr C Deaton





REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH





REGISTERED NUMBER: 04145856 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

BASFORDS LTD (REGISTERED NUMBER: 04145856)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 87,931 101,707
Tangible assets 6 91,491 186,804
179,422 288,511

CURRENT ASSETS
Stocks 121,468 192,236
Debtors 7 87,984 128,312
Cash at bank 13,292 45
222,744 320,593
CREDITORS
Amounts falling due within one year 8 500,828 525,750
NET CURRENT LIABILITIES (278,084 ) (205,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(98,662

)

83,354

CREDITORS
Amounts falling due after more than one
year

9

-

(7,366

)

PROVISIONS FOR LIABILITIES (20,011 ) (31,509 )
NET (LIABILITIES)/ASSETS (118,673 ) 44,479

CAPITAL AND RESERVES
Called up share capital 10 300,116 300,116
Retained earnings (418,789 ) (255,637 )
SHAREHOLDERS' FUNDS (118,673 ) 44,479

BASFORDS LTD (REGISTERED NUMBER: 04145856)

BALANCE SHEET - continued
31 JANUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 by the director and authorised for issue on 31 January 2025 and were signed by:





Mr C Deaton - Director


BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Basfords 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
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of windows, doors and conservatories supplied and installed to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% straight line
Factory tools & equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£    £    £   
COST
At 1 February 2023 123,000 6,460 129,460
Additions - 11,485 11,485
At 31 January 2024 123,000 17,945 140,945
AMORTISATION
At 1 February 2023 24,600 3,153 27,753
Amortisation for year 24,600 661 25,261
At 31 January 2024 49,200 3,814 53,014
NET BOOK VALUE
At 31 January 2024 73,800 14,131 87,931
At 31 January 2023 98,400 3,307 101,707

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. TANGIBLE FIXED ASSETS
Improvements Factory Fixtures
to tools & and
property equipment fittings
£    £    £   
COST
At 1 February 2023
and 31 January 2024 661,935 39,733 3,262
DEPRECIATION
At 1 February 2023 509,141 34,905 2,667
Charge for year 86,794 725 89
At 31 January 2024 595,935 35,630 2,756
NET BOOK VALUE
At 31 January 2024 66,000 4,103 506
At 31 January 2023 152,794 4,828 595

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 108,752 28,720 842,402
DEPRECIATION
At 1 February 2023 86,856 22,029 655,598
Charge for year 5,476 2,229 95,313
At 31 January 2024 92,332 24,258 750,911
NET BOOK VALUE
At 31 January 2024 16,420 4,462 91,491
At 31 January 2023 21,896 6,691 186,804

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on contract 87,984 125,831
Prepayments and accrued income - 2,481
87,984 128,312

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 15,659
Other loans 12,894 59,961
Hire purchase contracts 7,366 7,394
Trade creditors 136,443 145,204
Amounts owed to related parties 6,786 20,070
Corporation tax 18,360 17,140
Social security and other taxes 81,356 49,301
Pension 1,151 -
VAT 136,177 85,125
Other creditors 33 3,371
Credit card 22,294 30,299
Wages control account 2,970 771
Directors' current accounts 72,808 89,188
Accruals and deferred income 2,190 2,267
500,828 525,750

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 7,366

BASFORDS LTD (REGISTERED NUMBER: 04145856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
Value: £ £
110 Ordinary £1 110 110
300,000 Ordinary A £1 300,000 300,000
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
1 Ordinary F £1 1 1
1 Ordinary G £1 1 1

300,116 300,116

11. RELATED PARTY DISCLOSURES

At the balance sheet date 31 January 2024 there was an amount due from/ (to) related parties of (£6,786) (2023:(£20,070)).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Deaton.