Basra Group Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 09658173 (England and Wales)

BASRA GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25TH JUNE 2015 TO 30TH JUNE 2016

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

C S Basra

Mrs B K Basra

REGISTERED OFFICE:

10 Station Road

Letchworth Garden City

Herts

SG6 3AU

REGISTERED NUMBER:

09658173 (England and Wales)

ACCOUNTANTS:

Jones Hunt

Chartered Certified Accountants and

Chartered Tax Advisers

Ickleford Manor

Turnpike Lane

Hitchin

Herts

SG5 3XE

FIXED ASSETS

Investment property

3

231,525

CURRENT ASSETS

Debtors

245,183

Cash at bank

26,856

272,039

CREDITORS

Amounts falling due within one year

107,703

NET CURRENT ASSETS

164,336

TOTAL ASSETS LESS CURRENT LIABILITIES

395,861

CREDITORS

Amounts falling due after more than one year

4

410,862

NET LIABILITIES

(15,001

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(15,101

)

SHAREHOLDERS' FUNDS

(15,001

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2016 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30th June 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21st March 2017 and were signed on its behalf by:

C S Basra - Director

1.	STATUTORY INFORMATION

Basra Group Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

In accordance with SSAP 19 no depreciation is provided in respect of the investment property. This represents a

departure from the Companies Act 2006 requirements to provide for the systematic annual depreciation of assets.

However this property is held for investment rather than consumption, and the director considers that the

adoption of the above policy is necessary to give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

231,525

At 30th June 2016

231,525

NET BOOK VALUE

At 30th June 2016

231,525

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans due more than 5 years by instalments amount to £345,446.53.

5.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

449,474

6.	RELATED PARTY DISCLOSURES

Oakmont Estates Limited

Amount due from related party at the balance sheet date is £50,000.

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Moor Park Estates Limited

Amount due to related party at the balance sheet date is £15,000.

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Basra Investments Limited

Amount due to related party at the balance sheet date is £50,000.

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M S Basra.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Basra Group Ltd for the period ended 30th June 2016 which comprise the Abridged Income

Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Basra Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Basra Group Ltd and state those matters that we have agreed to state to the Board of Directors of Basra Group Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Basra Group Ltd 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 loss of Basra Group Ltd. You consider that Basra Group Ltd 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 Basra Group Ltd. 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.

Jones Hunt

Chartered Certified Accountants and

Chartered Tax Advisers

Ickleford Manor

Turnpike Lane

Hitchin

Herts

SG5 3XE

21st March 2017