Bassett Holmes Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Bassett Holmes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10569770 . The registered office is Room 117, Grove House, Lutyens Close, Chineham Court, Basingstoke, RG24 8AG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20%
Motor Vehicles	20%
Fixtures & Fittings	20%
Computer Equipment	33%

2.6. Financial Instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present

value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within

one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially

recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

...CONTINUED

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Bassett Holmes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Financial Instruments - continued

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2025: 6)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	1,995

As at 31 March 2026	1,995

Amortisation
As at 1 April 2025	1,995

As at 31 March 2026	1,995

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

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Bassett Holmes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	4,453	191,340	11,551	28,909	236,253
Additions	975	-	-	1,035	2,010
Disposals	-	(120,050 )	-	-	(120,050 )

As at 31 March 2026	5,428	71,290	11,551	29,944	118,213

Depreciation
As at 1 April 2025	2,448	114,804	10,636	21,793	149,681
Provided during the period	420	10,505	183	2,563	13,671
Disposals	-	(96,040 )	-	-	(96,040 )

As at 31 March 2026	2,868	29,269	10,819	24,356	67,312

Net Book Value
As at 31 March 2026	2,560	42,021	732	5,588	50,901

As at 1 April 2025	2,005	76,536	915	7,116	86,572

6. Investments

	Other
	£
Cost or Valuation
As at 1 April 2025	-
Additions	29,968

As at 31 March 2026	29,968

Provision
As at 1 April 2025	-

As at 31 March 2026	-

Net Book Value
As at 31 March 2026	29,968

As at 1 April 2025	-

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	42,525	99,237
Prepayments and accrued income	6,055	6,136
Other debtors	189,936	196,215

	238,516	301,588

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Bassett Holmes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other taxes and social security	133,291	144,919
Other creditors	7,574	1,799
Accruals and deferred income	10,193	9,588

	151,058	156,306

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2025	21,643	21,643
Deferred taxation	(8,918 )	(8,918 )

Balance at 31 March 2026	12,725	12,725

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		50,901		86,572
Investments	6		29,968		-

			80,869		86,572
CURRENT ASSETS
Debtors	7	238,516		301,588
Cash at bank and in hand		862,519		794,483

		1,101,035		1,096,071
Creditors: Amounts Falling Due Within One Year	8	(151,058 )		(156,306 )

NET CURRENT ASSETS (LIABILITIES)			949,977		939,765

TOTAL ASSETS LESS CURRENT LIABILITIES			1,030,846		1,026,337

PROVISIONS FOR LIABILITIES
Deferred Taxation			(12,726 )		(21,643 )

NET ASSETS			1,018,120		1,004,694

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			1,018,020		1,004,594

SHAREHOLDERS' FUNDS			1,018,120		1,004,694