H Basi Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07597053 (England and Wales)

Abbreviated Accounts for the Year Ended 31 March 2016

for

H Basi Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr H S Basi

Mrs S K Basi

REGISTERED OFFICE:

The Gatehouse

453 Cranbrook Road

Ilford

Essex

IG2 6EW

REGISTERED NUMBER:

07597053 (England and Wales)

ACCOUNTANTS:

Nielsens

Chartered Accountants

The Gatehouse

453 Cranbrook Road

Ilford

Essex

IG2 6EW

BANKERS:

Barclays Bank Plc

PO Box 1006

2 Station Parade

Barking

Essex

IG11 8AT

FIXED ASSETS

Intangible assets

2

75,000

90,000

Tangible assets

3

814

482

75,814

90,482

CURRENT ASSETS

Cash at bank and in hand

46,885

19,771

CREDITORS

Amounts falling due within one year

122,443

108,171

NET CURRENT LIABILITIES

(75,558

)

(88,400

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

256

2,082

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

56

1,882

SHAREHOLDERS' FUNDS

256

2,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 August 2016 and were signed on its behalf by:

Mrs S K Basi - Director

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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

15% on reducing balance

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

150,000

AMORTISATION

At 1 April 2015

60,000

Amortisation for year

15,000

At 31 March 2016

75,000

NET BOOK VALUE

At 31 March 2016

75,000

At 31 March 2015

90,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,373

Additions

476

At 31 March 2016

1,849

DEPRECIATION

At 1 April 2015

891

Charge for year

144

At 31 March 2016

1,035

NET BOOK VALUE

At 31 March 2016

814

At 31 March 2015

482

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

200

Ordinary

£1

200