4 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10280624 2023-08-01 2024-07-31 10280624 2024-07-31 10280624 2023-07-31 10280624 2022-08-01 2023-07-31 10280624 2023-07-31 10280624 2022-07-31 10280624 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 10280624 bus:RegisteredOffice 2023-08-01 2024-07-31 10280624 bus:LeadAgentIfApplicable 2023-08-01 2024-07-31 10280624 bus:Director1 2023-08-01 2024-07-31 10280624 bus:Director2 2023-08-01 2024-07-31 10280624 bus:Director3 2023-08-01 2024-07-31 10280624 bus:Director4 2023-08-01 2024-07-31 10280624 core:PlantMachinery 2023-07-31 10280624 core:FurnitureFittingsToolsEquipment 2023-07-31 10280624 core:PlantMachinery 2024-07-31 10280624 core:FurnitureFittingsToolsEquipment 2024-07-31 10280624 core:WithinOneYear 2024-07-31 10280624 core:WithinOneYear 2023-07-31 10280624 core:ShareCapital 2024-07-31 10280624 core:ShareCapital 2023-07-31 10280624 core:RetainedEarningsAccumulatedLosses 2024-07-31 10280624 core:RetainedEarningsAccumulatedLosses 2023-07-31 10280624 core:PlantMachinery 2023-08-01 2024-07-31 10280624 core:PlantMachinery 2023-07-31 10280624 core:FurnitureFittingsToolsEquipment 2023-07-31 10280624 bus:Director1 2023-07-31 10280624 bus:Director1 2024-07-31 10280624 bus:Director2 2023-07-31 10280624 bus:Director2 2024-07-31 10280624 bus:Director1 2022-07-31 10280624 bus:Director1 2023-07-31 10280624 bus:Director2 2022-07-31 10280624 bus:Director2 2023-07-31 10280624 bus:Director1 2022-08-01 2023-07-31 10280624 bus:Director2 2022-08-01 2023-07-31 10280624 bus:SmallEntities 2023-08-01 2024-07-31 10280624 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10280624 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10280624 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10280624 bus:FullAccounts 2023-08-01 2024-07-31
Company registration number: 10280624
BETTOR FASTER LTD
Unaudited filleted financial statements
31 July 2024
BETTOR FASTER LTD
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
BETTOR FASTER LTD
Directors and other information
Directors Mr Nilesh Mistry
Mr Jonathan Robb
Mr Maksym Shyrokyi
Mr Dmitry Yakimenko
Company number 10280624
Registered office 26 Fairlawn Grove
London
W4 5EH
Business address 26 Fairlawn Grove
London
W4 5EH
Accountants MAN Consultanting Limited
Suite 3, Watergardens Block 4
Gibraltar
BETTOR FASTER LTD
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 627 1,281
_______ _______
627 1,281
Current assets
Debtors 6 457,903 159,102
Cash at bank and in hand 204,586 146,689
_______ _______
662,489 305,791
Creditors: amounts falling due
within one year 7 ( 486,461) ( 198,733)
_______ _______
Net current assets 176,028 107,058
_______ _______
Total assets less current liabilities 176,655 108,339
_______ _______
Net assets 176,655 108,339
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 176,555 108,239
_______ _______
Shareholders funds 176,655 108,339
_______ _______
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr Nilesh Mistry
Director
Company registration number: 10280624
BETTOR FASTER LTD
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 26 Fairlawn Grove, London, W4 5EH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 197,417 75,167
Social security costs 16,246 3,751
Other pension costs 2,418 294
_______ _______
216,081 79,212
_______ _______
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 August 2023 and 31 July 2024 2,564 354 2,918
_______ _______ _______
Depreciation
At 1 August 2023 1,306 332 1,638
Charge for the year 632 21 653
_______ _______ _______
At 31 July 2024 1,938 353 2,291
_______ _______ _______
Carrying amount
At 31 July 2024 626 1 627
_______ _______ _______
At 31 July 2023 1,258 22 1,280
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 457,903 159,102
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 51,500 -
Corporation tax 303,723 194,342
Social security and other taxes 38,393 3,444
Other creditors 92,845 947
_______ _______
486,461 198,733
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Nilesh Mistry ( 116) ( 45,920) ( 46,036)
Mr Jonathan Robb ( 113) ( 46,000) ( 46,113)
_______ _______ _______
( 229) ( 91,920) ( 92,149)
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Nilesh Mistry 25,884 ( 26,000) ( 116)
Mr Jonathan Robb 25,887 ( 26,000) ( 113)
_______ _______ _______
51,771 ( 52,000) ( 229)
_______ _______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Maksym Shyrokyi 416,811 406,519 ( 51,500) -
Dmitry Yakimenko 110,013 321,495 - -
_______ _______ _______ _______
Included in sub-contractors costs are costs paid to two directors based in Ukraine.