BAPU HOLDINGS LIMITED 31/05/2023 iXBRL

BAPU HOLDINGS LIMITED 31/05/2023 iXBRL

BAPU HOLDINGS LIMITED - Company Information

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2 01/12/2022 31/05/2023 2023-05-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-12-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC580960 2022-12-01 2023-05-31 SC580960 2023-05-31 SC580960 2022-11-30 SC580960 2021-12-01 2022-11-30 SC580960 2022-11-30 SC580960 2021-11-30 SC580960 bus:RegisteredOffice 2022-12-01 2023-05-31 SC580960 bus:LeadAgentIfApplicable 2022-12-01 2023-05-31 SC580960 bus:Director1 2022-12-01 2023-05-31 SC580960 bus:Director2 2022-12-01 2023-05-31 SC580960 core:ShareCapital 2023-05-31 SC580960 core:ShareCapital 2022-11-30 SC580960 core:SharePremium 2023-05-31 SC580960 core:SharePremium 2022-11-30 SC580960 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC580960 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC580960 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 SC580960 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-05-31 SC580960 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 SC580960 core:Non-currentFinancialInstruments 2023-05-31 SC580960 core:Non-currentFinancialInstruments 2022-11-30 SC580960 bus:SmallEntities 2022-12-01 2023-05-31 SC580960 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-05-31 SC580960 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-05-31 SC580960 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-05-31 SC580960 bus:AbridgedAccounts 2022-12-01 2023-05-31
Company registration number: SC580960
BAPU HOLDINGS LIMITED
Unaudited filleted abridged financial statements
31 May 2023
BAPU HOLDINGS LIMITED
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
BAPU HOLDINGS LIMITED
Directors and other information
Directors Mr. Paramjit Basi
Mrs. Kulbir Basi
Company number SC580960
Registered office The Traders Quarter, Third Floor
166 Buchanan Street
Glasgow
G1 2LW
Business address The Traders Quarter, Third Floor
166 Buchanan Street
Glasgow
G1 2LW
Accountants T. Murphy & Company
Chartered Accountants
59 Admiral Street
Glasgow
G41 1HP
BAPU HOLDINGS LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of BAPU HOLDINGS LIMITED
Period ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BAPU HOLDINGS LIMITED for the period ended 31 May 2023 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of BAPU HOLDINGS LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of BAPU HOLDINGS LIMITED and state those matters that we have agreed to state to the board of directors of BAPU HOLDINGS LIMITED as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BAPU HOLDINGS LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that BAPU HOLDINGS LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BAPU HOLDINGS LIMITED. You consider that BAPU HOLDINGS LIMITED is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of BAPU HOLDINGS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
T. Murphy & Company
Chartered Accountants
Chartered Accountants
59 Admiral Street
Glasgow
G41 1HP
6 March 2024
BAPU HOLDINGS LIMITED
Abridged statement of financial position
31 May 2023
31/05/23 30/11/22
Note £ £ £ £
Fixed assets
Investments 5 2,504,242 2,343,573
_______ _______
2,504,242 2,343,573
Current assets
Cash at bank and in hand 2 2
_______ _______
2 2
Net current assets 2 2
_______ _______
Total assets less current liabilities 2,504,244 2,343,575
_______ _______
Net assets 2,504,244 2,343,575
_______ _______
Capital and reserves
Called up share capital 2,000 2,000
Share premium account 1,410,631 1,410,631
Profit and loss account 1,091,613 930,944
_______ _______
Shareholders funds 2,504,244 2,343,575
_______ _______
For the period ending 31 May 2023 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 period 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.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current period ending 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 06 March 2024 , and are signed on behalf of the board by:
Mr. Paramjit Basi
Director
Company registration number: SC580960
BAPU HOLDINGS LIMITED
Notes to the financial statements
Period ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Traders Quarter, Third Floor, 166 Buchanan Street, Glasgow, G1 2LW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 2 ).
5. Investments
£
Cost or valuation
At 1 December 2022 2,343,573
Revaluations 160,669
_______
At 31 May 2023 2,504,242
_______
Impairment
At 1 December 2022 and 31 May 2023 -
_______
Carrying amount
At 31 May 2023 2,504,242
_______
At 30 November 2022 2,343,573
_______
During the year under review no advances, credits or guaranteees were eother granted to, or on behalf of, the directors.
6. Controlling party
The company's share capital is owned by Mr & Mrs Basi.