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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2021 |
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BASELAND LIMITED |
REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2021 |
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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 2021 |
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Company Information | 1 |
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Abridged 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 2021 |
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DIRECTORS: |
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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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ABRIDGED STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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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 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
BASELAND LIMITED (REGISTERED NUMBER: 08321305) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2021 |
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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 Board of Directors and authorised for issue 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 2021 |
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1. | STATUTORY INFORMATION |
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Baseland Limited is a
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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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Going concern |
The accounts have been prepared on a going concern basis which the directors believe to be appropriate for the following reasons. |
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The directors are aware of the material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, tenants, suppliers and service providers. The directors have (where appropriate) utilised the grants and benefits available from the government and is taking all the steps they can to protect the future of the business. |
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The shareholders have provided confirmation that they will not withdraw their support for a period of at least 12 months from signing the financial statements. |
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The shareholders have also confirmed that they will continue to review the funding requirements of the business in 2021 and provide additional financing as required. |
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The directors have also prepared a cash flow forecast for the period to July 2022 and on this basis believe the company has sufficient facilities to meet its liabilities as they fall due for the foreseeable future, and specifically for a period of not less than 12 months from the date of signing of these financial statements. The directors therefore consider the preparation of the financial statements on a going concern basis to be appropriate. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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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 2021 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2020 |
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Additions |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 31 January 2020 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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6. | RELATED PARTY DISCLOSURES |
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Prodigy Estates Limited |
A company in which Mr A Nicolaou is a director and shareholder |
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At the balance sheet date, the company owed Prodigy Estates Limited £1,757 (2020: debit £321,243). |
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7. | 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 |