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REGISTERED NUMBER: 09658173 (England and Wales)



















BASRA GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






BASRA GROUP LTD (REGISTERED NUMBER: 09658173)






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 7

BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 158,121 158,121
Investment property 5 1,918,086 1,768,086
2,076,207 1,926,207

CURRENT ASSETS
Debtors 6 1,665,747 1,410,130
Cash at bank 15,532 16,225
1,681,279 1,426,355
CREDITORS
Amounts falling due within one year 7 2,377,175 1,987,804
NET CURRENT LIABILITIES (695,896 ) (561,449 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,380,311

1,364,758

CREDITORS
Amounts falling due after more than one
year

8

862,663

865,550
NET ASSETS 517,648 499,208

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 517,548 499,108
SHAREHOLDERS' FUNDS 517,648 499,208

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 director acknowledges his 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 GROUP LTD (REGISTERED NUMBER: 09658173)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





Mr M S Basra - Director


BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

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

1. STATUTORY INFORMATION

Basra Group 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: 09658173

Registered office: 10 Station Road
Letchworth Garden City
Herts
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.

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.

Turnover also represents rent receivable, excluding value added tax.

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.

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.


BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

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 Profit and Loss Account, 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.

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 - 3 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 158,121
NET BOOK VALUE
At 30 June 2024 158,121
At 30 June 2023 158,121

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,768,086
Additions 150,000
At 30 June 2024 1,918,086
NET BOOK VALUE
At 30 June 2024 1,918,086
At 30 June 2023 1,768,086

BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2018 218,475
Valuation in 2023 (218,475 )
Cost 1,918,086
1,918,086

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

2024 2023
£    £   
Cost 1,918,086 1,768,086

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

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 18,065 360
Other debtors 1,416,682 1,154,770
1,434,747 1,155,130

Amounts falling due after more than one year:
Amounts owed by group undertakings 231,000 255,000

Aggregate amounts 1,665,747 1,410,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,370 31,025
Trade creditors 2,448 369
Taxation and social security 41,479 27,572
Other creditors 2,311,878 1,928,838
2,377,175 1,987,804

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 862,663 865,550

Bank loans due more than 5 years by instalments amount to £755,815 (2023: £710,424).

BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 884,033 896,575

10. RELATED PARTY DISCLOSURES

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

Amount owed to related party at the balance sheet date is £455,000 (2023: nil).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

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

Amount owed to related party at the balance sheet date is £165,000 (2023: £165,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Asset Wealth Management Limited
A company in which M S Basra is a shareholder and director.

Amount due to related party at the balance sheet date is £160,000 (2023: (£90,000)).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BASRA GROUP LTD (REGISTERED NUMBER: 09658173)

The following reproduces the text of the report prepared for the director 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 Director 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 Group Ltd for the year ended 30 June 2024 which comprise the Profit and Loss Account, 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 director of Basra Group Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Basra Group Ltd and state those matters that we have agreed to state to the director of Basra Group Ltd 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 director for our work or for this report.

It is your duty to ensure that Basra Group 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 profit of Basra Group Ltd. You consider that Basra Group 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 Group 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


25 June 2025