BASIC NEEDS LTD

Company Registration Number:
08514755 (England and Wales)

Unaudited abridged accounts for the year ended 30 May 2024

Period of accounts

Start date: 01 June 2023

End date: 30 May 2024

BASIC NEEDS LTD

Contents of the Financial Statements

for the Period Ended 30 May 2024

Balance sheet
Notes

BASIC NEEDS LTD

Balance sheet

As at 30 May 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 34,707 52,060
Tangible assets: 4 76,397 17,613
Investments:   0 0
Total fixed assets: 111,104 69,673
Current assets
Stocks: 31,560 32,480
Debtors:   40,210 45,411
Cash at bank and in hand: 54,367 173,676
Investments:   0 0
Total current assets: 126,137 251,567
Creditors: amounts falling due within one year:   (44,677) (118,797)
Net current assets (liabilities): 81,460 132,770
Total assets less current liabilities: 192,564 202,443
Creditors: amounts falling due after more than one year:   (68,799) (34,379)
Provision for liabilities: 0 0
Total net assets (liabilities): 123,765 168,064
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 123,665 167,964
Shareholders funds: 123,765 168,064

The notes form part of these financial statements

BASIC NEEDS LTD

Balance sheet statements

For the year ending 30 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 January 2025
and signed on behalf of the board by:

Name: Terence William Barker
Status: Director

The notes form part of these financial statements

BASIC NEEDS LTD

Notes to the Financial Statements

for the Period Ended 30 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

BASIC NEEDS LTD

Notes to the Financial Statements

for the Period Ended 30 May 2024

2. Employees

2024 2023
Average number of employees during the period 12 14

BASIC NEEDS LTD

Notes to the Financial Statements

for the Period Ended 30 May 2024

3. Intangible Assets

Total
Cost £
At 01 June 2023 204,155
At 30 May 2024 204,155
Amortisation
At 01 June 2023 152,095
Charge for year 17,353
At 30 May 2024 169,448
Net book value
At 30 May 2024 34,707
At 31 May 2023 52,060

BASIC NEEDS LTD

Notes to the Financial Statements

for the Period Ended 30 May 2024

4. Tangible Assets

Total
Cost £
At 01 June 2023 57,489
Additions 83,537
Disposals (30,445)
At 30 May 2024 110,581
Depreciation
At 01 June 2023 39,876
Charge for year 18,205
On disposals (23,897)
At 30 May 2024 34,184
Net book value
At 30 May 2024 76,397
At 31 May 2023 17,613