BALA 1 LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05525784

BALA 1 LIMITED

Filleted Unaudited Financial Statements

31 December 2021

BALA 1 LIMITED

Statement of Financial Position

31 December 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	4		249,028	249,078

Current assets

Cash at bank and in hand	24,485		32,676

Creditors: amounts falling due within one year	5	1,040		2,568
		--------		--------
Net current assets			23,445	30,108
			---------	---------
Total assets less current liabilities			272,473	279,186

Creditors: amounts falling due after more than one year	6	170,000	170,000
		---------	---------
Net assets		102,473	109,186
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	102,373	109,086
	---------	---------
Shareholders funds	102,473	109,186
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31st December 2021 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 .

BALA 1 LIMITED

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 15 April 2022 , and are signed on behalf of the board by:

Mr B Nanthabalan

Director

Company registration number: 05525784

BALA 1 LIMITED

Notes to the Financial Statements

Year ended 31st December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Markham Road, Cheshunt, Waltham Cross, Hertfordshire, EN7 6WN.

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 and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.

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:

	Fixtures and fittings	-	25% reducing balance

4. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1st January 2021 and 31st December 2021	248,879	11,022	259,901
	---------	--------	---------
Depreciation
At 1st January 2021	–	10,823	10,823
Charge for the year	–	50	50
	---------	--------	---------
At 31st December 2021	–	10,873	10,873
	---------	--------	---------
Carrying amount
At 31st December 2021	248,879	149	249,028
	---------	--------	---------
At 31st December 2020	248,879	199	249,078
	---------	--------	---------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	–	1,541
Other creditors	1,040	1,027
	-------	-------
	1,040	2,568
	-------	-------

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

	2021	2020
	£	£
Bank loans and overdrafts	170,000	170,000
	---------	---------

Bank loan of £170,000 is secured by a legal mortgage over the company's property.