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REGISTERED NUMBER: 00955177 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

R.& R.Bassett(Engineering)Limited

R.& R.Bassett(Engineering)Limited (Registered number: 00955177)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R.& R.Bassett(Engineering)Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R Bassett
Mrs R Bassett
A Bassett
C S Laidler





SECRETARY: Mrs S Bennet





REGISTERED OFFICE: Unit 5 Guildford Road Industrial Estate
HAYLE
Cornwall
TR27 4QZ





REGISTERED NUMBER: 00955177 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

R.& R.Bassett(Engineering)Limited (Registered number: 00955177)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 108,080

CURRENT ASSETS
Stocks 8,209 136,375
Debtors 5 38,091 62,030
Cash at bank and in hand 377,775 301,533
424,075 499,938
CREDITORS
Amounts falling due within one year 6 40,111 74,347
NET CURRENT ASSETS 383,964 425,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,964

533,671

PROVISIONS FOR LIABILITIES - 27,000
NET ASSETS 383,964 506,671

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 380,964 503,671
383,964 506,671

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

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

The directors acknowledge their 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.

R.& R.Bassett(Engineering)Limited (Registered number: 00955177)

Balance Sheet - continued
30 June 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 by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





R Bassett - Director


R.& R.Bassett(Engineering)Limited (Registered number: 00955177)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

R.& R.Bassett(Engineering)Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents revenue from ordinary activities recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services ad the amount of revenue can be measured reliably. Turnover excludes 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.


R.& R.Bassett(Engineering)Limited (Registered number: 00955177)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 304,209
Disposals (304,209 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 196,129
Charge for year 2,732
Eliminated on disposal (198,861 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 108,080

R.& R.Bassett(Engineering)Limited (Registered number: 00955177)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 28,602
Other debtors 38,091 33,428
38,091 62,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,855 27,132
Amounts owed to group undertakings 859 40,248
Taxation and social security 6 3,489
Other creditors 2,391 3,478
40,111 74,347

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R Bassett by virtue of his shareholding in Bassett Group Limited.

The parent company of R.& R.Bassett Engineering Limited is Bassett Group Limited and it's registered office is 5 Guildford Industrial Estate, Hayle, Cornwall TR27 4QZ.