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REGISTERED NUMBER: 02752902 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BEST SOUTHERN LIMITED

BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BEST SOUTHERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs S E Best
Mr S A Best





REGISTERED OFFICE: 3 Pond Lane
Peaslake
United Kingdom
Surrey
GU5 9RS





REGISTERED NUMBER: 02752902 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,979 12,607

CURRENT ASSETS
Debtors 5 849,155 895,592
Cash at bank 105,119 119,709
954,274 1,015,301
CREDITORS
Amounts falling due within one year 6 284,007 345,688
NET CURRENT ASSETS 670,267 669,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

683,246

682,220

CREDITORS
Amounts falling due after more than one
year

7

171,818

195,991
NET ASSETS 511,428 486,229

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 511,426 486,227
SHAREHOLDERS' FUNDS 511,428 486,229

BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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

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

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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mrs S E Best - Director


BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

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


1. STATUTORY INFORMATION

Best Southern 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.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 January 2023 469,908 - 469,908
Additions - 504 504
At 31 December 2023 469,908 504 470,412
Depreciation
At 1 January 2023 457,301 - 457,301
Charge for year - 132 132
At 31 December 2023 457,301 132 457,433
Net book value
At 31 December 2023 12,607 372 12,979
At 31 December 2022 12,607 - 12,607

No change has been made as the Directors are of the opinion that market value exceeds the book value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Amounts owed by participating interests 849,155 849,155
Other debtors - 46,437
849,155 895,592

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts 25,000 25,000
Trade creditors (1 ) 4,775
Taxation and social security 9,583 15,576
Other creditors 249,425 300,337
284,007 345,688

BEST SOUTHERN LIMITED (REGISTERED NUMBER: 02752902)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans 143,750 168,750
Other creditors 28,068 27,241
171,818 195,991

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 143,750 168,750

The deferred taxation provision is in respect of a capital gain arising out of a capital gain in the parent company's financial statement which has been rolled over into the cost of the property now owned by the Best Southern Holdings Limited, the parent company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: as restated
£    £   
2 Ordinary £1 2 2

9. TRANSACTIONS WITH RELATED PARTIES

An amount of £24,000 was paid during the year to Mr. S.A. Best, also a Director, for property professional services.

10. POST BALANCE SHEET EVENTS

The effect of any events relating to the year ended 31st December 2023 which occurred before the date of approval have been included to the extent required to show a true and fair view of the results of that year.