Bestec Co. Ltd
Registered number: 05859146
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 56,727 48,912
Cash at bank and in hand 46,006 142,912
102,733 191,824
Creditors: amounts falling due within one year 4 (62,492) (138,782)
Net current assets 40,241 53,042
Total assets less current liabilities 40,241 53,042
Creditors: amounts falling due after more than one year 5 (38,772) (44,982)
Net assets 1,469 8,060
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,369 7,960
Shareholders' funds 1,469 8,060
The director is 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 director acknowledges his 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.
J B Kim
Director
Approved by the board on 2 February 2024
Bestec Co. Ltd
Notes to the Accounts
for the year ended 31 May 2023
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Debtors 2023 2022
£ £
Trade debtors 31,605 40,329
Other debtors 25,122 8,583
56,727 48,912
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 31,735 87,344
Corporation tax 5,898 16,844
Other taxes and social security costs 349 437
Other creditors 24,510 34,157
62,492 138,782
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 38,772 44,982
6 Other information
Bestec Co. Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 81-82 Kingspark Business Centre
152-178 Kingston Road
New Malden
Surrey
KT3 3ST
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