Registered number
14404814
AS & BAKSHI LTD
Filleted Accounts
31 October 2024
AS & BAKSHI LTD
Registered number: 14404814
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 545,000 475,000
Current assets
Debtors 4 702 50
Cash at bank and in hand 40,032 19,828
40,734 19,878
Creditors: amounts falling due within one year 5 (7,656) (5,815)
Net current assets 33,078 14,063
Total assets less current liabilities 578,078 489,063
Creditors: amounts falling due after more than one year 6 (420,010) (420,010)
Provisions for liabilities (30,946) (13,446)
Net assets 127,122 55,607
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 92,839 40,339
Profit and loss account 34,281 15,266
Shareholders' funds 127,122 55,607
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ajit Singh SIDHU
Director
Approved by the board on 17 July 2025
AS & BAKSHI LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are held to generate rental income and for long-term capital appreciation. These properties are revalued annually, with any resulting revaluation gains or losses recognised in the revaluation reserve. In accordance with the revaluation model, no depreciation is charged on investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment properties
Land and buildings
£
Cost
At 1 November 2023 475,000
Surplus on revaluation 70,000
At 31 October 2024 545,000
Depreciation
At 31 October 2024 -
Net book value
At 31 October 2024 545,000
At 31 October 2023 475,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 421,215 421,215
421,215 421,215
Investment properties are measured at fair value, as determined by the directors at the reporting date. The directors have assessed the valuation methodology and market conditions and are of the opinion that the carrying value of the investment properties reflects a fair and reasonable estimate of their fair value.
4 Debtors 2024 2023
£ £
Other debtors 702 50
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 6,338 4,377
Directors' loan account 368 489
Other creditors 950 949
7,656 5,815
6 Creditors: amounts falling due after one year 2024 2023
£ £
Shareholders loan 420,010 420,010
7 Revaluation reserve 2024 2023
£ £
At 1 November 2023 40,339 -
Gain on revaluation of land and buildings 70,000 53,785
Deferred taxation arising on the revaluation of land and buildings (17,500) (13,446)
At 31 October 2024 92,839 40,339
8 Related party transactions
Management fee was paid £3,600 (2023: £3,300) to Shivstar Legal Services Ltd, a company incorporated in England and Wales and controlled by one of the close family member of the directors.

The company acquired a property from the directors in the sum of £400,010 in exchange of loans. The loans of £400,010 (2023: £400,010) were shown as shareholders' loans: amounts falling due after more than one year. The loans are unsecured and the rate of interest charged is 0%.

9 Controlling party
During the period the company was controlled by its directors Mr A S and Mrs Bakshi Sidhu.
10 Other information
AS & BAKSHI LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Craneswater Park
Southall
Middlesex
United Kingdom
UB2 5RW
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