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COMPANY REGISTRATION NUMBER: 11450517
Best CCT Ltd
Filleted Unaudited Financial Statements
31 March 2024
Best CCT Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Stocks
1,800
1,600
Cash at bank and in hand
20,642
17,616
--------
--------
22,442
19,216
Creditors: amounts falling due within one year
5
8,063
8,711
--------
--------
Net current assets
14,379
10,505
--------
--------
Total assets less current liabilities
14,379
10,505
--------
--------
Net assets
14,379
10,505
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
14,369
10,495
--------
--------
Shareholder funds
14,379
10,505
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 October 2024 , and are signed on behalf of the board by:
Mr H. M Au
Director
Company registration number: 11450517
Best CCT Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 134, Hornchurch Road, Hornchurch, RM11 1DP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,143
1,161
Social security and other taxes
3,440
2,964
Other creditors
3,480
4,586
-------
-------
8,063
8,711
-------
-------
6. Financial instruments
The company has not entered into any financial obligation during the year, and therefore the director believes that there is no significant financial risk that has any adverse impact on its liquidity.
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr H. M Au
( 1,445)
( 2,099)
2,340
( 1,204)
-------
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr H. M Au
( 1,363)
( 312)
230
( 1,445)
-------
----
----
-------
The outstanding of £1,204 due to the company director as at the balance sheet date, 31st March 2024 is unsecured, interest free and repayable on demand.