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Registered number: 08665050









BASECONE LTD.









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BASECONE LTD.
 
 
COMPANY INFORMATION


Directors
K I Renshaw 
Wolters Kluwer Tax and Accounting Technology  B.V. 




Registered number
08665050



Registered office
145 London Road
Kingston Upon Thames

Surrey

KT2 6SR




Independent auditors
Ecovis Wingrave Yeats LLP

Chartered Accountants & Statutory Auditors

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
BASECONE LTD.
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 6


 
BASECONE LTD.
REGISTERED NUMBER: 08665050

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
740,976
1,151,643

Cash at bank and in hand
  
5,977
17,670

  
746,953
1,169,313

Creditors: amounts falling due within one year
 6 
(254,235)
(662,462)

Net current assets
  
 
 
492,718
 
 
506,851

Total assets less current liabilities
  
492,718
506,851

  

Net assets
  
492,718
506,851


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
492,717
506,850

  
492,718
506,851


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.






K I Renshaw
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Basecone Ltd. is a private company, limited by shares, incorporated in England and Wales, registration number 08665050. The registered office is 145 London Road, Kingston Upon Thames, Surrey, KT2 6SR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

It is the intention of the Directors to liquidate the company within 12 months following the approval of these financial statements. As a result, these financial statements have been prepared on a break-up basis.
There has been no impact on the financial statements as a result of this decision. The Directors are satisfied that the financial statements are presented truly and fairly, and all assets and liabilities are valued appropriately, considering the fact that the company is not a going concern at the date of approval of these financial statements.


 
2.3

Revenue recognition

The Company is the contracting party with external customers and invoices them directly. However, the related services are delivered by another group entity under an intra-group arrangement. While amounts invoiced to customers are fully recharged to the servicing group entity, the associated trade receivables are recognised by the Company.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 2

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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.


 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Page 3

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors.  When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.


4.


Employees

The Company has no employees other than the directors in the current or prior year. There is no directors' remuneration.

Page 4

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
40,921
40,139

Amounts owed by group undertakings
700,010
1,106,262

Other debtors
45
5,242

740,976
1,151,643


Amounts owed by group undertakings are unsecured, interest free and payable on demand. 


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
198,076
609,651

Accruals and deferred income
56,159
52,811

254,235
662,462


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Related party transactions

Basecone Ltd have taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions between two or more members of a group, provided that they are a wholly owned subsidiary. 

Page 5

 
BASECONE LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Controlling party

The immediate parent company is Wolters Kluwer Tax and Accounting Technology B.V, a company registered in The Netherlands.
The ultimate parent company is Wolters Kluwer N.V., a company also registered in The Netherlands. Wolters Kluwer N.V., is the only company to consolidate these financial statements. Copies of the Wolters Kluwer N.V. consolidated financial statements can be obtained from P.O. Box 1030, 2400 BA Alphen aan den Rijn, The Netherlands.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

In their report, the auditors emphasised that following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements, which indicates that these financial statements have not been prepared on a going concern basis. A full description of the events giving rise to the Company not being a going concern has been included in note 2.2, as has its effect on accounting policies and accounting adjustments. We have considered the adequacies of the disclosures made in the financial statements, and our audit opinion is not modified in the respect of the matter.

The audit report was signed on 4 August 2025 by Michael Storey (Senior statutory auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 6