Basit & Co Limited - Filleted accounts

Registered number

05902106

Basit & Co Limited

Filleted Accounts

30 October 2025

Basit & Co Limited
Registered number:		05902106
Balance Sheet
as at 30 October 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		32,767			64,106
Tangible assets	4		202,923			218,576
Investments	5		34			34
			235,724			282,716

Current assets
Stocks		44,146			49,051
Debtors	6	1,876,365			1,805,518
Cash at bank and in hand		859,787			305,280
		2,780,298			2,159,849

Creditors: amounts falling due within one year	7	(1,044,379)			(983,683)

Net current assets			1,735,919			1,176,166

Total assets less current liabilities			1,971,643			1,458,882


Provisions for liabilities			(14,031)			(16,861)


Net assets			1,957,612			1,442,021

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			1,956,612			1,441,021

Shareholders' funds			1,957,612			1,442,021

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Basit Hussain
Director
Approved by the board on 23 July 2026

Basit & Co Limited
Notes to the Accounts
for the year ended 30 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Motor			25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					26		26


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 31 October 2024							339,370
	At 30 October 2025							339,370

	Amortisation
	At 31 October 2024							275,264
	Provided during the year							31,339
	At 30 October 2025							306,603

	Net book value
	At 30 October 2025							32,767
	At 30 October 2024							64,106

	Goodwill is being written off in equal annual instalments over its estimated economic life of 7 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 31 October 2024	177,756		182,500		30,917		391,173
	Additions	-		16,343		6,013		22,356
	Disposals	-		-		(10,250)		(10,250)
	At 30 October 2025	177,756		198,843		26,680		403,279

	Depreciation
	At 31 October 2024	30,943		120,753		20,901		172,597
	Charge for the year	3,555		27,847		3,141		34,543
	On disposals	-		-		(6,784)		(6,784)
	At 30 October 2025	34,498		148,600		17,258		200,356

	Net book value
	At 30 October 2025	143,258		50,243		9,422		202,923
	At 30 October 2024	146,813		61,747		10,016		218,576


5	Investments

Other
investments
£
	Cost
	At 31 October 2024							34

	At 30 October 2025							34


6	Debtors					2025		2024
£							£

	Trade debtors					505,575		445,731
	Other debtors					1,370,790		1,359,787
						1,876,365		1,805,518


7	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					554,192		495,182
	Taxation and social security costs					221,932		216,608
	Other creditors					268,255		271,893
						1,044,379		983,683


8	Controlling party

	The company was under the control of the director, who together with a close family member held 100% of the issued share capital of the company.


9	Other information

	Basit & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Scanthorpe
	Woodville Road
	Keighley
	West Yorkshire
	BD20 6JA