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REGISTERED NUMBER: 09358941 (England and Wales)











Financial Statements

for the Year Ended 31 October 2024

for

BORGEN LIMITED

BORGEN LIMITED (REGISTERED NUMBER: 09358941)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BORGEN LIMITED

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Dr M Gadhri





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 09358941 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

BORGEN LIMITED (REGISTERED NUMBER: 09358941)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Investment property 4 510,000 510,000

CURRENT ASSETS
Debtors 5 450,728 887
Cash at bank 40,360 399,067
491,088 399,954
CREDITORS
Amounts falling due within one year 6 556,563 469,445
NET CURRENT LIABILITIES (65,475 ) (69,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,525

440,509

CREDITORS
Amounts falling due after more than one year 7 (309,469 ) (309,276 )

PROVISIONS FOR LIABILITIES (26,437 ) (20,092 )
NET ASSETS 108,619 111,141

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 79,312 85,657
Retained earnings 29,207 25,384
SHAREHOLDERS' FUNDS 108,619 111,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

BORGEN LIMITED (REGISTERED NUMBER: 09358941)

Balance Sheet - continued
31 October 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 director and authorised for issue on 28 July 2025 and were signed by:





Dr M Gadhri - Director


BORGEN LIMITED (REGISTERED NUMBER: 09358941)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Borgen Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net rental income received, 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.

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.

3. EMPLOYEES AND DIRECTORS

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

BORGEN LIMITED (REGISTERED NUMBER: 09358941)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 510,000
NET BOOK VALUE
At 31 October 2024 510,000
At 31 October 2023 510,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 25,000
Valuation in 2018 20,749
Valuation in 2021 60,000
Cost 404,251
510,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Amounts owed by group undertakings 289,841 -
Other debtors 160,887 887
450,728 887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Amounts owed to group undertakings 540,485 388,289
Other creditors 16,078 81,156
556,563 469,445

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 203,197 203,006
Other creditors 106,272 106,270
309,469 309,276

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 203,197 203,006
Other loans more 5yrs instal 106,272 106,270
309,469 309,276

BORGEN LIMITED (REGISTERED NUMBER: 09358941)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
1 A Class Ordinary £1 1 1
1 B Class Ordinary £1 1 1
49 C Class Ordinary £1 49 49
49 D Class Ordinary £1 49 49
100 100

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed by the director an amount of £Nil (2023:owed to £65,077).

At the balance sheet date, the company owed an amount of £540,485 (2023: £388,289) to R L Services (UK) Ltd, a company related by virtue of the fact that they are under common control.

At the balance sheet date, the company was owed an amount of £289,841 (2023: £Nil) by Aceharland Ltd, a company related by virtue of the fact that they are under common control.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr M Gadhri.