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REGISTERED NUMBER: 05186429 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BY CHOICE LIMITED

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BY CHOICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms E C Turner
R H Gosling





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 05186429 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

BALANCE SHEET
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
115,519 Intangible assets 4 93,114
19,102 Tangible assets 5 11,056
134,621 104,170

CURRENT ASSETS
94,963 Stocks 205,709
426,488 Debtors 6 377,204
780,812 Cash at bank 747,165
1,302,263 1,330,078
CREDITORS
1,121,881 Amounts falling due within one year 7 1,073,055
180,382 NET CURRENT ASSETS 257,023
315,003 TOTAL ASSETS LESS CURRENT
LIABILITIES

361,193

CREDITORS
(50,237 ) Amounts falling due after more than one
year

8

(264,160

)

(3,470 ) PROVISIONS FOR LIABILITIES (2,600 )
261,296 NET ASSETS 94,433

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

BALANCE SHEET - continued
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
CAPITAL AND RESERVES
100 Called up share capital 11 100
261,196 Retained earnings 94,333
261,296 SHAREHOLDERS' FUNDS 94,433

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 Income Statement 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:





Ms E C Turner - Director


BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

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

1. STATUTORY INFORMATION

By Choice 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of work completed and invoiced during the year and after taking into account the movement between opening and closing trade debtor balances and work in progress.

Intangible assets
Goodwill
The original goodwill relates to the set up costs of the company incurred in 2005 and has been written off over ten years.

In 2012, the company also acquired a business in Hadleigh and paid £42,000 for the goodwill of this business which is being written off over ten years.

In 2019, the company then acquired another business in Sudbury and paid £180,587 for the goodwill of this business which is again being written off over ten years.

Website
Website costs have been amortised in full over an estimated useful life of four years.

Stamp Duty
Stamp duty is being amortised over the term of each lease.

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 - 10% on cost
Computer equipment - 25% on cost

Stocks and work in progress
Work in progress reflects the commissions earned in respect of properties sold subject to contract as at 31st December 2023 which were received after that date.

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

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

4. INTANGIBLE FIXED ASSETS
Stamp Website
Totals Goodwill duty costs
£    £    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 374,692 360,115 2,182 12,395
AMORTISATION
At 1 January 2023 259,173 245,464 1,314 12,395
Amortisation for year 22,405 22,259 146 -
At 31 December 2023 281,578 267,723 1,460 12,395
NET BOOK VALUE
At 31 December 2023 93,114 92,392 722 -
At 31 December 2022 115,519 114,651 868 -

Cost or valuation at 31 December 2023 is represented by:

Stamp Website
Totals Goodwill duty costs
£    £    £    £   
Valuation in 2006 22,921 22,921 - -
Cost 351,771 337,194 2,182 12,395
374,692 360,115 2,182 12,395

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Totals fittings equipment
£    £    £   
COST
At 1 January 2023
and 31 December 2023 58,149 37,988 20,161
DEPRECIATION
At 1 January 2023 39,047 28,452 10,595
Charge for year 8,046 3,700 4,346
At 31 December 2023 47,093 32,152 14,941
NET BOOK VALUE
At 31 December 2023 11,056 5,836 5,220
At 31 December 2022 19,102 9,536 9,566

BY CHOICE LIMITED (REGISTERED NUMBER: 05186429)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 30,424 86,674
Other debtors 346,780 339,814
377,204 426,488

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 76,662 35,020
Trade creditors 18,329 22,824
Taxation and social security 122,925 97,391
Other creditors 855,139 966,646
1,073,055 1,121,881

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 264,160 50,237

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 61,800 61,000
Between one and five years 25,000 50,000
86,800 111,000

10. SECURED DEBTS

Lloyds Bank Plc hold a fixed and floating charge over the undertaking and all of the company's property and assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100