Registered number
04069384
Amended
Bestgreat Ltd
Filleted Accounts
30 September 2021
Bestgreat Ltd
Registered number: 04069384
Balance Sheet
as at 30 September 2021
As restated
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 9,272,578 9,060,813
Investments 4 3,534,270 1,194
12,806,848 9,062,007
Current assets
Debtors 5 187,759 135,260
Cash at bank and in hand 262,651 355,769
450,410 491,029
Creditors: amounts falling due within one year 6 (68,182) (26,553)
Net current assets 382,228 464,476
Total assets less current liabilities 13,189,076 9,526,483
Creditors: amounts falling due after more than one year 7 (7,988,301) (4,129,583)
Net assets 5,200,775 5,396,900
Capital and reserves
Called up share capital 4 4
Share premium 3,781,331 3,781,331
Revaluation reserve 8 91,000 -
Profit and loss account 1,328,440 1,615,565
Shareholders' funds 5,200,775 5,396,900
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Eliezer Solomon Benedikt
Director
Approved by the board on 6 September 2022
Bestgreat Ltd
Notes to the Accounts
for the year ended 30 September 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in properties, subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 5 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2020 9,058,186 17,967 9,076,153
Additions 121,422 - 121,422
Surplus on revaluation 91,000 - 91,000
At 30 September 2021 9,270,608 17,967 9,288,575
Depreciation
At 1 October 2020 - 15,340 15,340
Charge for the year - 657 657
At 30 September 2021 - 15,997 15,997
Net book value
At 30 September 2021 9,270,608 1,970 9,272,578
At 30 September 2020 9,058,186 2,627 9,060,813
4 Investments
Other
investments
£
Cost
At 1 October 2020 1,194
Additions 3,533,076
At 30 September 2021 3,534,270
The investment relates to 1,184,000 P Shares in Faircharm Ltd (at £0.001 per share) and £10 in stamp duty. The additions during the year relate to shares in Abaris Ltd
5 Debtors 2021 2020
£ £
Trade debtors 7,580 19,016
Other debtors 180,179 116,244
187,759 135,260
6 Creditors: amounts falling due within one year 2021 2020
£ £
Other creditors 68,182 26,553
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 4,401,436 4,050,337
Other creditors 3,534,254 1,194
Other interest-bearing loan 34,057 59,498
Long term director's loan account 18,554 18,554
7,988,301 4,129,583
8 Revaluation reserve 2021 2020
£ £
Gain on revaluation of land and buildings 91,000 -
At 30 September 2021 91,000 -
9 Related party transactions
Mr Eliezer Solomon Benedikt and his wife, Mrs Nechy Benedikt own a controlling interest in the issued share capital of the company. Mr and Mrs Benedikt have provided personal guarantees of £337,500 in respect of the borrowings of the company
Included in debtors are £60,439 due from Benard Invest Ltd and £ 8,240 due from Valeswood Estates Limited of which Mr and Mrs Benedikt are directors. These loans are interest free and repayable on demand.
Other interest-bearing loan shown under long term creditors is due to Abaris Limited of which Mr and Mrs Benedikt are directors.
10 Other information
Bestgreat Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
11 Prior year correction
The 2020 balance sheet figures have been restated due to the following errors
1) £1.9m has been reclassified from creditors to equity
2) £1.8m has been reclassified from the revaluation reserve to share premium

Note the corrections do not affect the profit or loss statement.
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