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REGISTERED NUMBER: 11890739 (England and Wales)
















Best Bridge Shipbrokers Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Best Bridge Shipbrokers Limited (Registered number: 11890739)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Best Bridge Shipbrokers Limited

Company Information
for the Year Ended 31st March 2024







Director: Mr J Huang





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 11890739 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Best Bridge Shipbrokers Limited (Registered number: 11890739)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,160 2,617

Current assets
Debtors 5 810 445
Cash at bank 145,488 230,387
146,298 230,832
Creditors
Amounts falling due within one year 6 8,674 14,257
Net current assets 137,624 216,575
Total assets less current liabilities 138,784 219,192

Creditors
Amounts falling due after more than one
year

7

200,000

200,000
Net (liabilities)/assets (61,216 ) 19,192

Capital and reserves
Called up share capital 100 100
Retained earnings (61,316 ) 19,092
(61,216 ) 19,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Best Bridge Shipbrokers Limited (Registered number: 11890739)

Statement of Financial Position - continued
31st March 2024


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 director and authorised for issue on 8th October 2024 and were signed by:





Mr J Huang - Director


Best Bridge Shipbrokers Limited (Registered number: 11890739)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. Statutory information

Best Bridge Shipbrokers 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.

At the balance sheet date the company's liabilities exceeded its assets and the company received assurance from the director, that they will continue to give financial support to the company for twelve months from the date of signing of these financial statements.

On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis is used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Turnover
Turnover consists of consultancy fees received net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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.

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.

Best Bridge Shipbrokers Limited (Registered number: 11890739)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1st April 2023
and 31st March 2024 783 6,102 6,885
Depreciation
At 1st April 2023 335 3,933 4,268
Charge for year 196 1,261 1,457
At 31st March 2024 531 5,194 5,725
Net book value
At 31st March 2024 252 908 1,160
At 31st March 2023 448 2,169 2,617

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 810 445

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 12 11
Other creditors 8,662 14,246
8,674 14,257

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other creditors 200,000 200,000

Included within other creditors due after more than one year is an amount of £200,000 owed to Mr J Huang, the director of the company.

8. Related party disclosures

A long term loan of £200,000 (2022: £200,000) was provided to the company by Mr J Huang, the director of the company. This loan was provided in order to satisfy Home Office requirements for the director.