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REGISTERED NUMBER: 03184257 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

The Best Mailing Services Limited

The Best Mailing Services Limited (Registered number: 03184257)

Contents of the Financial Statements
For The Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Best Mailing Services Limited

Company Information
For The Year Ended 31 March 2023







DIRECTOR: Mrs L A Reed



REGISTERED OFFICE: Merlin Way
North Weald
Epping
Essex
CM16 6HR



REGISTERED NUMBER: 03184257 (England and Wales)



ACCOUNTANTS: Giess Wallis Crisp LLP
Chartered Accountants
10/12 Mulberry Green
Old Harlow
Essex
CM17 0ET



BANKERS: National Westminster Bank Plc
Corporate Service Team
PO Box 111
Lee House, Baird Road
Enfield
Middlesex
EN1 1FB

The Best Mailing Services Limited (Registered number: 03184257)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 740 1,180
Investments 5 - -
740 1,180

CURRENT ASSETS
Stocks 6 300 300
Debtors 7 28,408 30,290
Cash at bank 47,327 48,023
76,035 78,613
CREDITORS
Amounts falling due within one year 8 66,796 68,611
NET CURRENT ASSETS 9,239 10,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,979

11,182

CREDITORS
Amounts falling due after more than one
year

9

(32,003

)

(32,000

)

PROVISIONS FOR LIABILITIES 11 (141 ) -
NET LIABILITIES (22,165 ) (20,818 )

CAPITAL AND RESERVES
Called up share capital 12 2 2
Share premium 19,206 19,206
Retained earnings (41,373 ) (40,026 )
SHAREHOLDERS' FUNDS (22,165 ) (20,818 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Best Mailing Services Limited (Registered number: 03184257)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by:





Mrs L A Reed - Director


The Best Mailing Services Limited (Registered number: 03184257)

Notes to the Financial Statements
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

The Best Mailing Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on ·an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

The Best Mailing Services Limited (Registered number: 03184257)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 42,344 21,754 64,098
DEPRECIATION
At 1 April 2022 41,357 21,561 62,918
Charge for year 247 193 440
At 31 March 2023 41,604 21,754 63,358
NET BOOK VALUE
At 31 March 2023 740 - 740
At 31 March 2022 987 193 1,180

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Investment 27,000 -
Write down of investment (27,000 ) -
- -

The Best Mailing Services Limited (Registered number: 03184257)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


6. STOCKS
2023 2022
£    £   
Stocks 300 300

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,557 19,965
Other debtors 10,851 10,325
28,408 30,290

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 37,612 29,465
Taxation and social security 10,142 23,790
Other creditors 11,042 7,356
66,796 68,611

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 32,003 32,000

Included within bank loans is a loan taken out under the BBL scheme

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 40,003 40,000

The bank holds an unscheduled mortgage debenture dated 13/06/1996 incorporating a fixed and floating charge over all current and future assets of the company and the director has personally guaranteed the bank loan.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 141 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 141
Balance at 31 March 2023 141

The Best Mailing Services Limited (Registered number: 03184257)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2