Bassi Properties Limited - Limited company - abbreviated - 11.0.0
Bassi Properties Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| BASSI PROPERTIES LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST JULY 2014 |
| BASSI PROPERTIES LIMITED (REGISTERED NUMBER: 04051751) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST JULY 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| BASSI PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST JULY 2014 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BASSI PROPERTIES LIMITED (REGISTERED NUMBER: 04051751) |
| ABBREVIATED BALANCE SHEET |
| 31ST JULY 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 2 |
| CURRENT ASSETS |
| Debtors |
| Investments |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps 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 Sections 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. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| BASSI PROPERTIES LIMITED (REGISTERED NUMBER: 04051751) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST JULY 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance |
| with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents rents receivable by the company in respect of its investment properties, excluding |
| value added tax. |
| Investment property |
| Properties held by the company for long-term investment are included in the balance sheet at their |
| open market values. The surplus or deficit on revaluation of such properties is transferred to the |
| investment property revaluation reserve. Depreciation is not provided in respect of investment |
| properties. |
| This policy represents a departure from statutory accounting principles, which require depreciation to |
| be provided on all fixed assets. The director considers that this policy is necessary in order that the |
| financial statements may give a true and fair view because current values and changes in current |
| values are of prime importance rather than the calculation of systematic annual depreciation. |
| Depreciation is only one of many factors reflected in the valuation and the amount which might |
| otherwise have been shown cannot be separately identified or quantified. |
| Deferred tax |
| Deferred tax is not provided on the properties. In the case of one property, capital allowances have |
| been claimed on qualifying expenditure. However, the qualifying assets are deemed to be an integral |
| part of the building itself, and are therefore not depreciated separately. It is unlikely that any |
| differences between net book value and written down value will reverse in the foreseeable future, and |
| therefore deferred taxation has not been provided. |
| 2. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1st August 2013 |
| Additions |
| At 31st July 2014 |
| NET BOOK VALUE |
| At 31st July 2014 |
| At 31st July 2013 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | ULTIMATE PARENT COMPANY |
| company. |