Baba Vanga Limited,Ltd - AccountsLtd - Accounts

Baba Vanga Limited,Ltd - AccountsLtd - Accounts

BABA VANGA LIMITED - Company Information

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2019-07-30 12129500 2020-07-31 12129500 2019-07-30 2020-07-31 12129500 uk-core:WithinOneYear 2020-07-31 12129500 uk-core:AfterOneYear 2020-07-31 12129500 uk-core:RetainedEarningsAccumulatedLosses 2020-07-31 12129500 uk-bus:Director1 2019-07-30 2020-07-31 12129500 uk-core:AfterOneYear 2019-07-30 2020-07-31 iso4217:GBP xbrli:pure 12129500 uk-bus:AuditExemptWithAccountantsReport 2019-07-30 2020-07-31 12129500 uk-bus:FRS102 2019-07-30 2020-07-31 12129500 uk-bus:FullAccounts 2019-07-30 2020-07-31 12129500 uk-bus:PrivateLimitedCompanyLtd 2019-07-30 2020-07-31
Baba Vanga Limited
Registered Number:12129500
For the period ended 31 July 2020
England and Wales
Unaudited Financial Statements
2
For the period ended 31 July 2020
Baba Vanga Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
12129500
As at 31 July 2020
Baba Vanga Limited
Statement of Financial Position
£
2020
Notes
Fixed assets
2
501,000
Investment property
501,000
Current assets
Trade and other receivables
310
3
310
Trade and other payables: amounts falling due within one
year
(6,343)
4
(6,033)
Net current liabilities
Total assets less current liabilities
494,967
Trade and other payables: amounts falling due after more
than one year
(580,000)
5
(85,033)
Net assets/liabilities
Retained earnings
(85,033)
(85,033)
Shareholders' funds
For the period ended 31 July 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Benjamin Taylor Director
These financial statements were approved and authorised for issue by the Board on 26 April 2021 and were signed by:
The notes form part of these financial statements
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4
For the period ended 31 July 2020
Baba Vanga Limited
Notes to the Financial Statements
Statutory Information
Baba Vanga Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 12129500.
Registered address:
59 Woodlands Avenue
London
E11 3RB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2. Investment property
Total
£
Fair value
Additions
550,084
Fair value adjustments
(49,084)
At 31 July 2020
501,000
Net book value
At 31 July 2020
501,000
Investment property includes freehold land and buildings that were purchased in May 2020 and will be let out as a residential property following refurbishment. The total cost of acquiring the property was £550,084, which includes £49,084 of costs associated with its purchase. It is the opinion of the directors that the fair value of the property at 31 July 2020 is £501,000, the cost of the property. The costs associated with the purchase of the property have been moved to the profit and loss account.
3. Trade and other receivables
2020
£
Other debtors
310
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5
For the period ended 31 July 2020
Baba Vanga Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2020
£
Other creditors
6,343
5. Trade and other payables: amounts falling due after more than one year
2020
£
Bank loans and overdraft (secured)
300,000
-
Other creditors
280,000
580,000
Of the £580,000 due in more than 1 year, £300,000 is loan finance. The loan finance company has fixed and floating charges over the property. The balance of £280,000 was loaned by the director Ben Taylor.
6. Average number of persons employed
During the year the average number of employees was 2
7. Parent-subsidary relationship
The parent undertaking is Baba Vanga Holdings Limited. It is a private company limited by shares, the registered office and principal place of business is 59 Woodlands AvenueLondonE11 3RB
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