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REGISTERED NUMBER: 10338362 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Bael Limited

Bael Limited (Registered number: 10338362)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bael Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Tajinderpal S Obhrai
Deepinder Singh Obhrai





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 10338362 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

Bael Limited (Registered number: 10338362)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 229,278 136,752
Investment property 7 257,640 257,640
486,919 394,393

CURRENT ASSETS
Stocks 29,072 20,758
Debtors 8 185,465 178,946
Cash at bank and in hand 402,443 1,131,894
616,980 1,331,598
CREDITORS
Amounts falling due within one year 9 1,009,476 1,146,802
NET CURRENT (LIABILITIES)/ASSETS (392,496 ) 184,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,423

579,189

CREDITORS
Amounts falling due after more than one
year

10

(1,605,985

)

(1,989,911

)

PROVISIONS FOR LIABILITIES (5,263 ) (27,540 )
NET LIABILITIES (1,516,825 ) (1,438,262 )

CAPITAL AND RESERVES
Called up share capital 1 1
Equity contribution reserve 520,364 520,364
Retained earnings (2,037,190 ) (1,958,627 )
(1,516,825 ) (1,438,262 )

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

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

Bael Limited (Registered number: 10338362)

Balance Sheet - continued
31 August 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 27 May 2025 and were signed on its behalf by:





Tajinderpal S Obhrai - Director


Bael Limited (Registered number: 10338362)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Bael 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.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is calculated so as to write off the cost of the goodwill, less its estimated residual value, over the useful life of that asset which is considered to be 5 years.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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 cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Bael Limited (Registered number: 10338362)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued at fair value at each reporting date and any changes in fair values are recognised in profit and loss account.

No depreciation is provided in respect of investment property.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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 is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments in subsidiaries, to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference.

Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

Bael Limited (Registered number: 10338362)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Going concern
Notwithstanding the net liabilities of £1,516,825 (2023: £1,438,262) these financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons:

The ability of the Company to remain as a going concern is dependent on the immediate parent company not seeking repayment of the amounts currently due to it and providing additional financial support the Company may require. The immediate parent has indicated its intention to make available such funds as are needed by the Company, and that it does not intend to seek repayment of the amounts due at the Balance Sheet date for the foreseeable future.

As with any company placing reliance on other group entities for financial support, the directors of the company acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

On this basis, the directors believe it remains appropriate to prepare the financial statements on a going concern basis.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at the amount receivable and subsequently adjusted for any impairment or other change in consideration expected to be received on settlement.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially measured at the amount payable and subsequently adjusted for any change in consideration expected to be paid on settlement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2023 - 62 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 2,070,858
AMORTISATION
At 1 September 2023
and 31 August 2024 2,070,857
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 1

Bael Limited (Registered number: 10338362)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 September 2023 724,691
Additions 172,135
At 31 August 2024 896,826
DEPRECIATION
At 1 September 2023 587,939
Charge for year 79,609
At 31 August 2024 667,548
NET BOOK VALUE
At 31 August 2024 229,278
At 31 August 2023 136,752

7. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2023
and 31 August 2024 257,640
NET BOOK VALUE
At 31 August 2024 257,640
At 31 August 2023 257,640

The director has considered the fair value of the property at 31 August 2024 and do not consider this to be significantly different form the value stated in the financial statements.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 15,384 31,129
Amounts owed by related undertakings 48,124 -
Other debtors 121,957 147,817
185,465 178,946

Bael Limited (Registered number: 10338362)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 211,776 247,970
Amounts owed to group undertakings 161,200 121,200
Amounts owed to related undertakings - 20,410
Taxation and social security 153,420 197,399
Other creditors 473,080 549,823
1,009,476 1,146,802

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 8,333 18,333
Amounts owed to group undertakings 1,597,652 1,971,578
1,605,985 1,989,911

The company has received a bounce back loan. There is no interest to pay in the first 12 months and the interest is fixed at 2.5% per annum thereafter. The loan is repayable by 60 monthly instalments after one year of receiving the loan.

The company has received interest free loans of £2.75million (2023: £2.75million) from a group undertaking. The loan is unsecured and the loan balance is discounted at 3.425% per annum to its Net Present Value. The total discounted loan balance outstanding at the Balance sheet date was £1,597,652 (2023 : £1,971,578).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
Tajinderpal S Obhrai
Balance outstanding at start of year 10,605 10,605
Amounts repaid (10,605 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,605

Deepinder Singh Obhrai
Balance outstanding at start of year 59,758 54,841
Amounts advanced 905 4,917
Amounts repaid (60,663 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 59,758

Bael Limited (Registered number: 10338362)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. RELATED PARTY DISCLOSURES

The company was charged rent of £403,267 (2023: £403,055) by its parent company for the year.

The directors confirm that there are no other related party transactions other than those disclosed in these financial statements, or from which disclosure exemption was taken, based on FRS 102.33.