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REGISTERED NUMBER: 05155431 (England and Wales)



















BASRA INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 100 -
Investment property 5 1,425,200 1,637,000
1,425,300 1,637,000

CURRENT ASSETS
Debtors 6 748,461 597,946
Cash at bank 38,668 52,231
787,129 650,177
CREDITORS
Amounts falling due within one year 7 86,233 96,068
NET CURRENT ASSETS 700,896 554,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,126,196

2,191,109

CREDITORS
Amounts falling due after more than one
year

8

(932,930

)

(943,104

)

PROVISIONS FOR LIABILITIES - (18,876 )
NET ASSETS 1,193,266 1,229,129

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 340,589 451,009
Retained earnings 852,675 778,118
SHAREHOLDERS' FUNDS 1,193,266 1,229,129

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.

BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

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 24 June 2025 and were signed on its behalf by:





S S Basra - Director


BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Basra Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05155431

Registered office: 10 Station Road
Letchworth Garden City
Hertfordshire
SG6 3AU

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Basra Investments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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

In respect of long term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Turnover also represents rent receivable, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

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.

Operating lease agreements
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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
Additions 100
At 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,637,000
Additions 71,200
Disposals (153,704 )
Revaluations (129,296 )
At 30 June 2024 1,425,200
NET BOOK VALUE
At 30 June 2024 1,425,200
At 30 June 2023 1,637,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2007 196,410
Valuation in 2009 (17,725 )
Valuation in 2011 (25,000 )
Valuation in 2013 285,676
Valuation in 2014 392
Valuation in 2015 (9,867 )
Valuation in 2018 40,000
Valuation in 2024 (129,297 )
Cost 1,084,611
1,425,200

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,084,611 1,167,114

The investment properties were valued on an open market basis on 30 June 2024 by the directors' .

BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,119 42,946
Amounts owed by group undertakings 179,900 -
Other debtors 560,442 555,000
748,461 597,946

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,999 32,319
Trade creditors 6,939 4,935
Taxation and social security 26,125 12,244
Other creditors 27,170 46,570
86,233 96,068

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 356,157 373,945
Other creditors 576,773 569,159
932,930 943,104

Bank loans due more than 5 years by instalments amount to £253,117 (2023: £244,665).

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 382,156 406,264

10. RESERVES
Fair
value
reserve
£   
At 1 July 2023 451,009
Deferred tax adjustment 18,876
Surplus on revaluation (129,296 )

At 30 June 2024 340,589

BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. RELATED PARTY DISCLOSURES

M S Basra
Director and joint shareholder of Basra Investments Limited

No interest is payable on the loan and there are no agreed repayment terms.

No dividends were paid to the directors during the year.

Basra Group Limited
A company in which Mr M S Basra is a director and shareholder.

Amount due from related party at the balance sheet date £165,000 (2023: £165,000).

No interest is payable on the loan and there are no agreed repayment terms.

Waterstone Construction Limited
A company in which Mr S S Basra is a director and joint shareholder.

Amount due from related party at the balance sheet date £169,933 (2023: £170,000).

No interest is payable on the loan and there are no agreed repayment terms.

Basra Enterprises Limited
A company in which Mr S S Basra is a director and shareholder.

Amount due from related party at the balance sheet date £45,000 (2023: £45,000).

No interest is payable on the loan and there are no agreed repayment terms.

Oakmont Estates Limited
A company in which Mr M S Basra is a director and shareholder.

Amount due to related party at the balance sheet date £10,000 (2023: (£10,000)).

No interest is payable on the loan and there are no agreed repayment terms.

Jam Estates Limited
A company Mr M S Basra has influence over.

Amount due from related party at the balance sheet date £175,000 (2023: £175,000).

No interest is payable on the loan and there are no agreed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BASRA INVESTMENTS LTD (REGISTERED NUMBER: 05155431)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Basra Investments Ltd for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Basra Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Basra Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Basra Investments Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Basra Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Basra Investments Ltd. You consider that Basra Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Basra Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


24 June 2025