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REGISTERED NUMBER: 08736896 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

As Good As New BE Ltd

As Good As New BE Ltd (Registered number: 08736896)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


As Good As New BE Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs P A Mills
R J Mills





REGISTERED OFFICE: 7 Merlin Centre
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP





REGISTERED NUMBER: 08736896 (England and Wales)





ACCOUNTANTS: Danton Partners
7 Merlin Courtyard
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DP

As Good As New BE Ltd (Registered number: 08736896)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,174 12,232
9,174 12,232

CURRENT ASSETS
Stocks 3,965 2,965
Debtors 6 4,731 4,781
Cash at bank and in hand 8,022 5,334
16,718 13,080
CREDITORS
Amounts falling due within one year 7 20,566 17,411
NET CURRENT LIABILITIES (3,848 ) (4,331 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,326

7,901

CREDITORS
Amounts falling due after more than one
year

8

(3,197

)

(5,164

)

PROVISIONS FOR LIABILITIES 11 (1,743 ) (2,135 )
NET ASSETS 386 602

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 286 502
SHAREHOLDERS' FUNDS 386 602

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

As Good As New BE Ltd (Registered number: 08736896)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:




Mrs P A Mills - Director



R J Mills - Director


As Good As New BE Ltd (Registered number: 08736896)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

As Good As New BE Ltd 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.

Turnover
Turnover represents the invoiced value of sales of goods and services, less value added tax using the flat rate scheme.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, was amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost and 25% on reducing balance

Government grants
Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.
The company also benefits from other forms of COVID 19 business support assistance.

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

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

Current and 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 balance sheet date.


As Good As New BE Ltd (Registered number: 08736896)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 contributes defined contributions to money purchase pension plans for the benefit of the employees and directors. A defined contribution plan is a pension plan under which the company pays fixed contributions to an independent pension provider and has no further payment obligations. Contributions payable by the company 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 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 20,000
AMORTISATION
At 1 November 2022
and 31 October 2023 20,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

As Good As New BE Ltd (Registered number: 08736896)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 39,659
DEPRECIATION
At 1 November 2022 27,427
Charge for year 3,058
At 31 October 2023 30,485
NET BOOK VALUE
At 31 October 2023 9,174
At 31 October 2022 12,232

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 1,500 1,596
Other debtors 3,231 3,185
4,731 4,781

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 9) 2,130 2,130
Trade creditors 1,387 985
Taxation and social security 10,988 9,547
Other creditors 6,061 4,749
20,566 17,411

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 9) 3,197 5,164

9. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,130 2,130

As Good As New BE Ltd (Registered number: 08736896)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. LOANS - continued
31.10.23 31.10.22
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,130 2,130

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,067 3,034

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 5,327 7,294

The company borrowed £10,000 under the Bounce Back Loan Scheme..

HM Government covered any interest payable in the first 12 months through a Business Interruption Payment to the lender, and lenders benefit from a 100% government-backed guarantee.

The government has set the interest rate for this loan at 2.5% per annum and the repayment term is fixed at six years. No repayments were due during the first 12 months. The company remains 100% liable to repay the full loan amount, as well as interest, after the first year.

11. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax
Accelerated capital allowances 1,743 2,135

Deferred
tax
£   
Balance at 1 November 2022 2,135
Accelerated capital allowances (392 )
Balance at 31 October 2023 1,743

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

As Good As New BE Ltd (Registered number: 08736896)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

13. RESERVES
Retained
earnings
£   

At 1 November 2022 502
Profit for the year 24,216
Dividends (24,432 )
At 31 October 2023 286

14. RELATED PARTY DISCLOSURES

Included in other creditors at 31 October 2023 are balances due to the directors/shareholders as follows:

Mrs P A Mills £3,841 (2022 - £4,310)
R J Mills £5 (2022 - £5)

There are no fixed terms for repayment of these loans that are repayable on demand. No interest was charged this year (2022 - £Nil).

15. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who each own 50% of the issued share capital.