REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Best Western Enterprises Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Best Western Enterprises Limited |
Best Western Enterprises Limited (Registered number: 00915375) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Best Western Enterprises Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Best Western Enterprises Limited (Registered number: 00915375) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the Board of Directors and authorised for issue on |
Best Western Enterprises Limited (Registered number: 00915375) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Best Western Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net rents receivable by the company for the year, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
All fixed assets are initially recorded at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Listed investments |
Listed investments are shown at their most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in profit and loss account. |
Unlisted investments are held at fair value. Any aggregate surplus or deficit arising from changes in fair value are recognised in profit and loss account. |
Other investments include Gold Bullion UK. The value of these investments are shown at their fair value. Any aggregate surplus or deficit arising from changes in fair value are recognised in profit and loss account. |
Best Western Enterprises Limited (Registered number: 00915375) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | FIXED ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Other investments not loans |
Additional information is as follows: |
Other |
investments |
£ |
COST OR VALUATION |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 January 2024 | 1,060,370 |
NET BOOK VALUE |
At 31 January 2024 | 1,060,370 |
At 31 January 2023 | 1,032,478 |
The investment represents shares in listed companies, valued at mid market price at the year end. The original cost of these investments was £703,994 (2023: £540,828). |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
£ | £ |
Other Investment | 59,010 | - |
Other investment addition | 5,394 | 59,010 |
Revaluation of other Invt | 1,579 | - |
65,983 | 59,010 |
Best Western Enterprises Limited (Registered number: 00915375) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
Additions |
Revaluations | (417,519 | ) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
The investment properties were valued at estimated market value by the directors on 31 January 2024. |
The historic cost of the investment properties was £2,245,480 (2023: £1,700,480). |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes | ( |
) |
VAT | 3,608 | 4,097 |
Other creditors | ( |
) |
Other creditors - Mr M Best | - | 16,638 |
Directors' current accounts | 354 | 3,112 |
Accruals and deferred income |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
10. | ULTIMATE CONTROLLING PARTY |
Mr A Best holds the majority of the company's share capital at the year end. |