BEST OF BRIT HIFI LTD

Company Registration Number:
10304978 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

BEST OF BRIT HIFI LTD

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

BEST OF BRIT HIFI LTD

Balance sheet

As at 31 December 2020


Notes

2020

2019


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 50,000 10,000
Tangible assets: 4 197,650 43,080
Investments: 5 117,620 7,500
Total fixed assets: 365,270 60,580
Current assets
Stocks: 2,938,540 196,455
Debtors:   0 6,825
Cash at bank and in hand: 225,840 14,355
Total current assets: 3,164,380 217,635
Creditors: amounts falling due within one year:   0 (34,200)
Net current assets (liabilities): 3,164,380 183,435
Total assets less current liabilities: 3,529,650 244,015
Creditors: amounts falling due after more than one year:   0 (11,834)
Provision for liabilities: (35,000) (5,000)
Total net assets (liabilities): 3,494,650 227,181
Capital and reserves
Called up share capital: 10,000 1,000
Share premium account: 0
Other reserves: 45,000
Profit and loss account: 3,439,650 226,181
Shareholders funds: 3,494,650 227,181

The notes form part of these financial statements

BEST OF BRIT HIFI LTD

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 August 2022
and signed on behalf of the board by:

Name: JOHN COLES
Status: Director

The notes form part of these financial statements

BEST OF BRIT HIFI LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

BEST OF BRIT HIFI LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 37 7

BEST OF BRIT HIFI LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Intangible Assets

Total
Cost £
At 01 January 2020 10,000
Additions 40,000
At 31 December 2020 50,000
Net book value
At 31 December 2020 50,000
At 31 December 2019 10,000

BEST OF BRIT HIFI LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Tangible Assets

Total
Cost £
At 01 January 2020 43,080
Additions 227,850
Disposals (46,840)
Revaluations (26,440)
At 31 December 2020 197,650
Net book value
At 31 December 2020 197,650
At 31 December 2019 43,080

BEST OF BRIT HIFI LTD

Notes to the Financial Statements

for the Period Ended 31 December 2020

5. Fixed investments

During the accounting we have undertaken contracts for a fixed 10 year term for development. This is reflective on current accounts and will be reflected on future filings