Baselets Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05989463

Baselets Limited

Filleted Unaudited Financial Statements

For the year ended

30 November 2025

Baselets Limited

Statement of Financial Position

30 November 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	345,405	350,575
Investments	6	5,092	5,092
		---------	---------
		350,497	355,667

Current assets

Debtors	7	11,474	9,208
Cash at bank and in hand		221	20,637
		--------	--------
		11,695	29,845

Creditors: amounts falling due within one year	8	60,947		45,380
		--------		--------
Net current liabilities			49,252		15,535
			---------		---------
Total assets less current liabilities			301,245		340,132

Creditors: amounts falling due after more than one year	9		8,988		23,494

Provisions

Taxation including deferred tax	19,048	18,838
	---------	---------
Net assets	273,209	297,800
	---------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	102,906	102,906
Profit and loss account	170,203	194,794
	---------	---------
Shareholders funds	273,209	297,800
	---------	---------

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 comprehensive income has not been delivered.

For the year ending 30 November 2025 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 .

Baselets Limited

Statement of Financial Position (continued)

30 November 2025

These financial statements were approved by the board of directors and authorised for issue on 26 May 2026 , and are signed on behalf of the board by:

Mr A M Hard	Mrs K M Williams
Director	Director

Company registration number: 05989463

Baselets Limited

Notes to the Financial Statements

Year ended 30 November 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Wellbrook Court, Girton, Cambridge, CB3 0NA.

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

Revenue recognition

The turnover shown in the profit and loss account represents services provided during the year exclusive of Value Added Tax. Turnover in relation to commissions received are recognised for the corresponding periods to which they relate.

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 payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer Equipment	-	33% straight line
Fixture and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

No depreciation is provided on the Freehold Property due to the high residual value .

Investments

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

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 11 ).

5. Tangible assets

	Land and buildings	Computer Equipment	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 December 2024	330,000	23,987	53,730	50,485	458,202
Additions	–	–	138	–	138
	---------	--------	--------	--------	---------
At 30 November 2025	330,000	23,987	53,868	50,485	458,340
	---------	--------	--------	--------	---------
Depreciation
At 1 December 2024	–	23,987	50,302	33,338	107,627
Charge for the year	–	–	1,021	4,287	5,308
	---------	--------	--------	--------	---------
At 30 November 2025	–	23,987	51,323	37,625	112,935
	---------	--------	--------	--------	---------
Carrying amount
At 30 November 2025	330,000	–	2,545	12,860	345,405
	---------	--------	--------	--------	---------
At 30 November 2024	330,000	–	3,428	17,147	350,575
	---------	--------	--------	--------	---------

Included in the above is £99,000 (2024: £99,000) land which is not depreciated.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 November 2025
Aggregate cost	203,563
Aggregate depreciation	(30,680)
	---------
Carrying value	172,883
	---------

At 30 November 2024
Aggregate cost	203,563
Aggregate depreciation	(27,609)
	---------
Carrying value	175,954
	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 December 2024 and 30 November 2025	5,092
	-------
Impairment
At 1 December 2024 and 30 November 2025	–
	-------

Carrying amount
At 30 November 2025	5,092
	-------
At 30 November 2024	5,092
	-------

7. Debtors

	2025	2024
	£	£
Other debtors	11,474	9,208
	--------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	32,269	19,092
Social security and other taxes	23,215	20,709
Other creditors	5,463	5,579
	--------	--------
	60,947	45,380
	--------	--------

Bank loans and overdrafts are secured on the assets of the company by fixed and floating charges. Included within the liabilities disclosed above under bank loans and overdrafts is an amount of £9,946 (2024: £9,092) for which security over the assets to which the liability relates has been given.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	8,988	23,494
	-------	--------

Bank loans and overdrafts are secured on the assets of the company by fixed and floating charges. Included within the liabilities disclosed above under bank loans and overdrafts is an amount of £nil (2024: £18,494) for which security over the assets to which the liability relates has been given.

10. Financial commitments, guarantees and contingencies

The total future minimum lease payments under non-cancellable obligations are £304 (2024: £21,038).

11. Directors' advances, credits and guarantees

During the current and previous year the company operated a loan account on behalf of the directors. Interest has been charged at the official HMRC rate on any overdrawn loan account balances where applicable. There are no repayment terms.

	2025	2024
	£	£
Advances	–	3,636
Repayments	458	3,549
Balance due from the directors	–	458