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REGISTERED NUMBER: 04258271 (England and Wales)









BESTLOG LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






BESTLOG LTD (REGISTERED NUMBER: 04258271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BESTLOG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Knobloch
L P Read
J Thorn





REGISTERED OFFICE: Unit 1
Rutland Way
Chichester
West Sussex
PO19 7RT





REGISTERED NUMBER: 04258271 (England and Wales)





AUDITORS: Morris Crocker Limited
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
PO9 1QU

BESTLOG LTD (REGISTERED NUMBER: 04258271)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140,590 93,280

CURRENT ASSETS
Debtors 5 1,453,800 1,028,155
Cash at bank and in hand 1,112,550 721,253
2,566,350 1,749,408
CREDITORS
Amounts falling due within one year 6 987,873 565,741
NET CURRENT ASSETS 1,578,477 1,183,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,719,067

1,276,947

PROVISIONS FOR LIABILITIES 30,223 11,496
NET ASSETS 1,688,844 1,265,451

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,688,843 1,265,450
1,688,844 1,265,451

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 13 August 2024 and were signed on its behalf by:





L P Read - Director


BESTLOG LTD (REGISTERED NUMBER: 04258271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Bestlog 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 is measured at the fair value of the consideration received or receivable, excluding value added tax.

The revenue for the transportation of cars and car parts is recognised when the items have been delivered and all contractual obligations have been fulfilled.

The revenue for storage and letting of space is recognised over the period of the storage or letting.

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 - 33% on cost and 20% on cost
Motor vehicles - 20% on cost and 15% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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 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 balance sheet date.


BESTLOG LTD (REGISTERED NUMBER: 04258271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 22 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 241,849 495,470 737,319
Additions 37,943 47,998 85,941
At 31 December 2023 279,792 543,468 823,260
DEPRECIATION
At 1 January 2023 184,195 459,844 644,039
Charge for year 23,318 15,313 38,631
At 31 December 2023 207,513 475,157 682,670
NET BOOK VALUE
At 31 December 2023 72,279 68,311 140,590
At 31 December 2022 57,654 35,626 93,280

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,217,555 879,648
Amounts owed by group undertakings 46,611 68,554
Other debtors 189,634 79,953
1,453,800 1,028,155

BESTLOG LTD (REGISTERED NUMBER: 04258271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 694,366 441,837
Taxation and social security 174,621 87,776
Other creditors 118,886 36,128
987,873 565,741

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Southern (Senior Statutory Auditor)
for and on behalf of Morris Crocker Limited

8. ULTIMATE CONTROLLING PARTY

The parent undertaking is Bestlog GmbH, a company registered in Germany. The results of the company are subordinated into Bestlog GmbH. The registered office of Bestlog GmbH is Schleissheimer Strasse 4-96,D-85748 Garching, Germany.