| Registered number: 03661074 | ||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||
| Prepared By: | ||||||||
| Berry Kearsley Stockwell Ltd | ||||||||
| Accountants | ||||||||
| Sterling House | ||||||||
| 31-32 High Street | ||||||||
| Wellingborough | ||||||||
| Northants | ||||||||
| NN8 4HL | ||||||||
| Bassetform Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||
| DIRECTORS | ||||||||
| SECRETARY | ||||||||
| REGISTERED OFFICE | ||||||||
| Northants | ||||||||
| COMPANY DETAILS | ||||||||
| Private company limited by shares registered in EW - England and Wales, registered number 03661074 | ||||||||
| ACCOUNTANTS | ||||||||
| Berry Kearsley Stockwell Ltd | ||||||||
| Accountants | ||||||||
| Sterling House | ||||||||
| 31-32 High Street | ||||||||
| Wellingborough | ||||||||
| Northants | ||||||||
| NN8 4HL | ||||||||
| Bassetform Limited | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31/08/2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Directors' Report | - | |||||||
| Accountants' Report | - | |||||||
| Statement Of Comprehensive Income | - | |||||||
| Balance Sheet | 3 | |||||||
| Notes To The Accounts | 5 | |||||||
| The following do not form part of the statutory financial statements: | ||||||||
| Trading And Profit And Loss Account | - | |||||||
| Profit And Loss Account Summaries | - | |||||||
| Bassetform Limited | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 3 | |||||||||
| CURRENT ASSETS | ||||||||||
| Debtors | 5 | |||||||||
| Cash at bank and in hand | ||||||||||
| 414,148 | 443,555 | |||||||||
| CREDITORS: Amounts falling due within one year | 6 | |||||||||
| NET CURRENT ASSETS | 427,504 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 7 | 363,440 | 433,331 | |||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 10 | |||||||||
| Revaluation reserve | 1d,11 | 659,577 | 659,577 | |||||||
| Profit and loss account | 661,155 | 625,346 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Bassetform Limited | ||||||||
| BALANCE SHEET AT | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| ............................. | ||||||||||
| Mr Joseph Andrew McGowan | ||||||||||
| Director | ||||||||||
| ............................. | ||||||||||
| Mr Patrick McGowan | ||||||||||
| Director | ||||||||||
| Bassetform Limited | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31/08/2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting | ||||||||
| The accounts have been prepared under the historical cost convention. | ||||||||
| The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . | ||||||||
| 1b. Depreciation | ||||||||
| Plant and Machinery | reducing balance 25% | |||||||
| Commercial Vehicles | reducing balance 25% | |||||||
| 1c. Investment Properties | ||||||||
| Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. | ||||||||
| 1d. Revaluation Reserve | ||||||||
| Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11). | ||||||||
| Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. | ||||||||
| 2. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | - | |||||
| Bassetform Limited | ||||||||
| 3. TANGIBLE FIXED ASSETS | ||||||
| Plant and | Commercial | |||||
| Machinery | Vehicles | Total | ||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 01/09/2023 | 81,025 | 24,798 | 105,823 | |||
| At 31/08/2024 | 81,025 | 24,798 | 105,823 | |||
| Depreciation | ||||||
| At 01/09/2023 | 69,765 | 20,385 | 90,150 | |||
| For the year | 3,753 | 1,471 | 5,224 | |||
| At 31/08/2024 | 73,518 | 21,856 | 95,374 | |||
| Net Book Amounts | ||||||
| At 31/08/2024 | 10,449 | |||||
| At 31/08/2023 | 15,673 | |||||
| 4. INVESTMENT PROPERTIES | ||||||||
| Investment | ||||||||
| Properties | Total | |||||||
| £ | £ | |||||||
| Fair value | ||||||||
| At 01/09/2023 | 1,410,000 | 1,410,000 | ||||||
| At 31/08/2024 | 1,410,000 | 1,410,000 | ||||||
| The eight investment properties, held by the Company, were valued at open market value at the 31st August 2024, by a director of the Company. Open market value was considered to be the fair value of these properties. | ||||||||
| 5. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| VAT | - | 121 | ||||||
| Amounts due from group companies | 1,096 | 952 | ||||||
| Prepayments | 2,528 | 2,247 | ||||||
| Directors current account | 4,152 | 7,343 | ||||||
| Directors current account | 7,615 | 2,425 | ||||||
| Directors current account | 5,190 | 7,292 | ||||||
| 20,581 | 20,380 | |||||||
| Bassetform Limited | ||||||||
| 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 1,177 | - | ||||||
| Other tax | 2,001 | 2,000 | ||||||
| Bank Loan | 10,352 | 9,046 | ||||||
| Trade creditors | 1,546 | 3,710 | ||||||
| Accruals | 1,348 | 1,295 | ||||||
| 16,424 | 16,051 | |||||||
| 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Bank loans (secured) >1yr | 111,663 | 121,554 | ||||||
| Loans >1yr | 251,777 | 311,777 | ||||||
| 363,440 | 433,331 | |||||||
| 8. SECURED CREDITORS | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Amount of bank loans and overdrafts which are secured | 122,015 | 130,600 | ||||||
| The secured bank loans owed by the Company, within one year, as at the 31st August 2024 were £10,352 (2023: £9,046). The secured bank loans owed by the Company, after one year, as at the 31st August 2024 were £111,663 (2023: £121,554). Lloyds Bank has a first legal | ||||||||
| 9. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 133,901 | 134,823 | ||||||
| 133,901 | 134,823 | |||||||
| Bassetform Limited | ||||||||
| 10. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 100 | 100 | |||||||
| 100 | 100 | |||||||
| 11. REVALUATION RESERVE | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Revaluation reserve | 659,577 | 659,577 | ||||||
| 659,577 | 659,577 | |||||||
| 12. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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