Bass Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12918104

Bass Property Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Bass Property Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Bass Property Limited

Officers and Professional Advisers

The board of directors	Mr Aji Mangalath Bhashkaran
	Mr Sibu John
	Mr Binoy Mathew
	Mr Sajimon Thomas

Registered office	Heathside House
	Heathside Lane
	Stoke-On-Trent
	Staffordshire
	ST6 5QS

Accountants	Xaviers Accountants Limited
	Chartered Certified Accountants
	Suite 3J
	Recycling Lives Centre
	1A Essex Street
	Preston
	PR1 1QE

Bass Property Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	1,870,767	1,870,767
Investments	6	5,200	5,200
		------------	------------
		1,875,967	1,875,967

Current assets

Debtors	7	3,634,642	3,716,542
Cash at bank and in hand		113,769	176,256
		------------	------------
		3,748,411	3,892,798

Creditors: amounts falling due within one year	8	( 3,850,006)	( 4,670,546)
		------------	------------
Net current liabilities		( 101,595)	( 777,748)
		------------	------------
Total assets less current liabilities		1,774,372	1,098,219
		------------	------------
Net assets		1,774,372	1,098,219
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,774,272	1,098,119
	------------	------------
Shareholders funds	1,774,372	1,098,219
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bass Property Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr Sibu John

Director

Company registration number: 12918104

Bass Property Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Heathside House, Heathside Lane, Stoke-On-Trent, Staffordshire, ST6 5QS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 10 ).

5. Tangible assets

	Freehold property
	£
Cost
At 1 January 2024 and 31 December 2024	1,870,767
	------------
Depreciation
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	1,870,767
	------------
At 31 December 2023	1,870,767
	------------

The fair value of investment properties as at 31 December 2024 is based on a valuation carried out at that date by the directors who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of the transaction prices for similar properties in its location. In the directors' opinion there was no material change in value as at 31 December 2024 since the date of acquisition.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	5,200
	-------
Impairment
At 1 January 2024 and 31 December 2024	–
	-------

Carrying amount
At 31 December 2024	5,200
	-------
At 31 December 2023	5,200
	-------

7. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	3,634,642	3,634,642
Other debtors	–	81,900
	------------	------------
	3,634,642	3,716,542
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	296,144	236,667
Social security and other taxes	57	2,144
Other creditors	3,553,805	4,431,735
	------------	------------
	3,850,006	4,670,546
	------------	------------

Included in other creditors is a combined balance of £26,750 (2023: £372,000) owed by the company to the directors. The loan is unsecured, interest free and repayable upon demand.

9. Related party transactions

Mr. Aji Bhaskaran and Mr. Sajimon Thomas are the directors of Golden Properties Private Limited. The company holds 52% of share capital in Golden Properties Private Limited. At the balance sheet date, debtors include, balance due from Golden Properties Private Limited of £3,634,642 (2023: £3,634,642). The amount due from Golden Properties Private Limited is secured, interest payable and repayable on demand. The interest income receivable from Golden Properties Private Limited for the year ended 31.12.2024 was of £327,600 (2023: £136,500). Mr. Aji Bhaskaran, Mr. Sibu John, Mr. Binoy Mathew and Mr. Sajimon Thomas are the shareholders and the directors of Primary Medical Solutions limited. At the balance sheet date, other creditors include balance due to Primary Medical Solutions Limited of £3,074,250 (2023: £3,204,250). The loan is unsecured, interest free and repayable on demand. Mr. Binoy Mathew is the director of Koodalloor Ltd. At the balance sheet date, other creditors include balance due to Koodalloor Ltd of £Nil (2023: £100,000). The loan is unsecured, interest free and repayable on demand. Mr. Sibu John is the shareholder and the director of Sas Care Group Limited. At the balance sheet date, other creditors include balance due to Sas Care Group Limited of £425,000 (2023: £625,000). The loan is unsecured, interest free and repayable on demand. Mr. Aji Bhaskaran and Mr. Sajimon Thomas are the shareholders and the directors of Elite Care Private Limited. At the balance sheet date, other creditors include balance due to Elite Care Private Limited of £22,250 (2023: £125,000). The loan is unsecured, interest free and repayable on demand.