30 32 Bascom Limited 02787878 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is lettershop and international delivery using multi carrier technology to optimise global carrier contract to provide client's with the perfect balance of costs and performance. A one stop shop for all things print, mail and delivery. Digita Accounts Production Advanced 6.30.9574.0 true 02787878 2023-10-01 2024-09-30 02787878 2024-09-30 02787878 core:CurrentFinancialInstruments 2024-09-30 02787878 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02787878 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 02787878 core:LandBuildings core:ShortLeaseholdAssets 2024-09-30 02787878 core:OfficeEquipment 2024-09-30 02787878 core:PlantMachinery 2024-09-30 02787878 bus:SmallEntities 2023-10-01 2024-09-30 02787878 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02787878 bus:FilletedAccounts 2023-10-01 2024-09-30 02787878 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02787878 bus:RegisteredOffice 2023-10-01 2024-09-30 02787878 bus:Director2 2023-10-01 2024-09-30 02787878 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02787878 core:LandBuildings core:ShortLeaseholdAssets 2023-10-01 2024-09-30 02787878 core:LeaseholdImprovements 2023-10-01 2024-09-30 02787878 core:MotorVehicles 2023-10-01 2024-09-30 02787878 core:OfficeEquipment 2023-10-01 2024-09-30 02787878 core:PlantMachinery 2023-10-01 2024-09-30 02787878 countries:EnglandWales 2023-10-01 2024-09-30 02787878 2023-09-30 02787878 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 02787878 core:OfficeEquipment 2023-09-30 02787878 core:PlantMachinery 2023-09-30 02787878 2022-10-01 2023-09-30 02787878 2023-09-30 02787878 core:CurrentFinancialInstruments 2023-09-30 02787878 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 02787878 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 02787878 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 02787878 core:OfficeEquipment 2023-09-30 02787878 core:PlantMachinery 2023-09-30 xbrli:pure iso4217:GBP

Registration number: 02787878

Bascom Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Bascom Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Bascom Limited

(Registration number: 02787878)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

219,247

277,001

Current assets

 

Stocks

5

27,820

18,838

Debtors

6

251,647

335,447

Cash at bank and in hand

 

8,143

119,379

 

287,610

473,664

Creditors: Amounts falling due within one year

7

(466,950)

(360,513)

Net current (liabilities)/assets

 

(179,340)

113,151

Total assets less current liabilities

 

39,907

390,152

Creditors: Amounts falling due after more than one year

7

(7,555)

(18,451)

Net assets

 

32,352

371,701

Capital and reserves

 

Called up share capital

100

100

Retained earnings

32,252

371,601

Shareholders' funds

 

32,352

371,701

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 April 2025
 

P W Brown
Director

 

Bascom Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
82 Feeder Road
Bristol
BS2 0HH
England

These financial statements were authorised for issue by the director on 16 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bascom Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold improvements

over the remaining lease period

Plant and machinery

10% per annum straight line

Motor vehicles

25% per annum reducing balance

Equipment

25% reducing balance and 33.3% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bascom Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 30 (2023 - 32).

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

299,572

591,445

68,445

959,462

At 30 September 2024

299,572

591,445

68,445

959,462

Depreciation

At 1 October 2023

293,894

356,633

31,934

682,461

Charge for the year

1,893

46,733

9,128

57,754

At 30 September 2024

295,787

403,366

41,062

740,215

Carrying amount

At 30 September 2024

3,785

188,079

27,383

219,247

At 30 September 2023

5,678

234,812

36,511

277,001

Included within the net book value of land and buildings above is £3,785 (2023 - £5,677) in respect of short leasehold land and buildings.
 

 

Bascom Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Stocks

2024
£

2023
£

Work in progress

9,472

-

Other inventories

18,348

18,838

27,820

18,838

6

Debtors

Current

2024
£

2023
£

Trade debtors

228,169

260,462

Prepayments

3,559

3,917

Other debtors

19,919

71,068

 

251,647

335,447

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

88,309

38,373

Trade creditors

 

213,377

214,769

Taxation and social security

 

82,990

57,846

Accruals and deferred income

 

64,469

18,885

Other creditors

 

17,805

30,640

 

466,950

360,513

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7,555

18,451