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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2018 |
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BASELAND LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2018 |
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FOR |
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BASELAND LIMITED |
BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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BASELAND LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Fair value reserve | 9 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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1. | STATUTORY INFORMATION |
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Baseland Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rent receivable by the company. |
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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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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3. | TANGIBLE FIXED ASSETS |
Freehold |
property |
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COST |
At 1 February 2017 |
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Reclassification/transfer | ( |
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At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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At 31 January 2017 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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Revaluations | 723,616 |
Reclassification/transfer | 769,074 |
At 31 January 2018 |
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NET BOOK VALUE |
At 31 January 2018 |
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Fair value at 31 January 2018 is represented by: |
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£ |
Valuation in 2018 | 723,616 |
Cost | 776,384 |
1,500,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed by associate company |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Tax |
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VAT | 3,973 | 1,593 |
Accrued expenses |
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BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2018 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Director's loan account | 799,826 | 799,826 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 February 2017 |
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153,175 |
Profit for the year |
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Reserve to Fair value reserve | (723,616 | ) | 723,616 | - |
At 31 January 2018 |
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776,571 |
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10. | RELATED PARTY DISCLOSURES |
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Potty Pancakes Ltd |
A company in which Mr A Nicolaou is a shareholder |
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During the year the company charged Potty Pancakes Limited market value rent of £48,000 per annum in respect |
of the premises at 2 Barnet Road, Potters Bar, Herts. EN6 2QS. |
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Prodigy Estates Limited |
A company in which Mr A Nicolaou is a director and shareholder |
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Amount due from related party as at the balance sheet date £120,000 (2017 £120,000) |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr A Nicolaou. |
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Mr A Nicolaou holds 100% of the company's issued share capital |