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REGISTERED NUMBER: OC372478 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

S S BASI & CO LLP

S S BASI & CO LLP (REGISTERED NUMBER: OC372478)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


S S BASI & CO LLP

GENERAL INFORMATION
for the year ended 31 March 2024







DESIGNATED MEMBERS: Mr S S Basi MA LLB
Ms M K Saimbhi





REGISTERED OFFICE: 153 Cranbrook Road
Ilford
Essex
IG1 4TA





REGISTERED NUMBER: OC372478 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

S S BASI & CO LLP (REGISTERED NUMBER: OC372478)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,874 8,655

CURRENT ASSETS
Debtors 69,771 45,974
Cash at bank and in hand 1,896,836 830,455
1,966,607 876,429
CREDITORS
Amounts falling due within one year 1,921,364 824,433
NET CURRENT ASSETS 45,243 51,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,117

60,651

CREDITORS
Amounts falling due after more than one year 36,000 52,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

61,117

8,651

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

61,117

8,651

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 61,117 8,651
Amounts due from members (34,104 ) (26,097 )
27,013 (17,446 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

S S BASI & CO LLP (REGISTERED NUMBER: OC372478)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 January 2025 and were signed by:





Mr S S Basi MA LLB - Designated member

S S BASI & CO LLP (REGISTERED NUMBER: OC372478)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

S S Basi & Co LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest charges to the profit and loss account on a straight line basis.

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

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEE INFORMATION

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

S S BASI & CO LLP (REGISTERED NUMBER: OC372478)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 48,792
Additions 60,296
At 31 March 2024 109,088
DEPRECIATION
At 1 April 2023 40,137
Charge for year 17,077
At 31 March 2024 57,214
NET BOOK VALUE
At 31 March 2024 51,874
At 31 March 2023 8,655

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured.