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Registered number: 12388235
BEST IN CONVENIENCE LIMITED
Financial Statements
For The Year Ended 31 January 2024
JBP Accounitng Solutions Limited
01 Iris Mews
Westmead Road
Sutton
Surrey
SM1 4GG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12388235
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,846 9,808
7,846 9,808
CURRENT ASSETS
Stocks 5 42,500 33,500
Debtors 6 343 10,668
Cash at bank and in hand 2,353 1,157
45,196 45,325
Creditors: Amounts Falling Due Within One Year 7 (10,024 ) (3,134 )
NET CURRENT ASSETS (LIABILITIES) 35,172 42,191
TOTAL ASSETS LESS CURRENT LIABILITIES 43,018 51,999
Creditors: Amounts Falling Due After More Than One Year 8 (35,738 ) (45,492 )
NET ASSETS 7,280 6,507
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 7,279 6,506
SHAREHOLDERS' FUNDS 7,280 6,507
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Narajanan Sellamani Suthahini Puvaneswaran
Director
30 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BEST IN CONVENIENCE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12388235 . The registered office is 26 Shaw Stree, Oldham, OL1 3RR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings Reducing balance basis -20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 February 2023 12,260
As at 31 January 2024 12,260
Depreciation
As at 1 February 2023 2,452
Provided during the period 1,962
As at 31 January 2024 4,414
Net Book Value
As at 31 January 2024 7,846
As at 1 February 2023 9,808
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5. Stocks
2024 2023
£ £
Stock 42,500 33,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 170 263
Other debtors - 8,185
VAT - 2,220
Other taxes and social security 173 -
343 10,668
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,620 1,134
VAT 113 -
Accruals and deferred income 540 -
Director's loan account 7,751 2,000
10,024 3,134
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 35,738 45,492
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4