BASIC INVESTMENT GROUP LTD


Directors	LAM, In Heng
	SONG, Ieong Kong


Registered Address	314 Carshalton Road
	Carshalton
	SM5 3QB


Registered Number	10010670 (England and Wales)

Balance Sheet as at
28 February 2025

	2025		2024
	£	£	£	£
Current assets
Cash at bank and on hand	1,509		5,603
	1,509		5,603
Creditors amounts falling due within one year	(1,171,469)		(1,241,469)
Net current assets (liabilities)		(1,169,960)		(1,235,866)
Total assets less current liabilities		(1,169,960)		(1,235,866)
Creditors amounts falling due after one year		(1,238,757)		(1,238,757)
Net assets		(2,408,717)		(2,474,623)
Capital and reserves
Called up share capital		100		100
Profit and loss account		(2,408,817)		(2,474,723)
Shareholders' funds		(2,408,717)		(2,474,623)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 6 October 2025, and are signed on its behalf by:

SONG, Ieong Kong
Director
Registered Company No. 10010670

BASIC INVESTMENT GROUP LTD

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets and depreciation
	Investment properties Investment properties are those properties that are held either to earn rental income or for capital appreciation or both. Investment properties are initially measured at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from the changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise. Investment properties are stated at fair value as determined by the Directors, based upon external valuations. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with International Valuation Standards. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements. Additions and disposal of investment properties are recognised in the accounts when the risks and rewards of the ownership are transferred.

Tangible fixed assets and depreciation

Investment properties

Investment properties are those properties that are held either to earn rental income or for capital appreciation or both.

Investment properties are initially measured at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from the changes in the fair value of investment properties are recognised in the Statement of
Comprehensive Income in the year in which they arise.

Investment properties are stated at fair value as determined by the Directors, based upon external valuations. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with International Valuation Standards. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements. 

Additions and disposal of investment properties are recognised in the accounts when the risks and rewards of the ownership are transferred.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Debtors: amounts due after one year
	As at 28 February 2025, the amounts of £281,469 and £620,000 was owed by its associated companies Basic Investment Team Limited and Better Intelligent Management Limited respectively (they were £326,469 and £620,000 as at 29 February 2024) in which Mr. I K Song is the director and majority shareholder.

4.	Directors advances, credits and guarantees
	As at 29 February 2025, the amount of £1,238,756 owing to the director, Mr. Ieong Kong Song that remained the same as at 29 February 2024. This amount is interest free, unsecured and has no fixed repayment terms.

5.	Related party transactions
	The company was under the control of Mr. Ieong Kong Song throughout the current and previous financial periods. Mr. Song is the managing director and majority shareholder. Transactions with director arose mainly business expenses paid on behalf of the company. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.