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Better Buy Miles Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2024

Registration number: 08306465

 

Better Buy Miles Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Better Buy Miles Limited

Balance Sheet

31 May 2024

Note

31 May
2024
£ 000

31 May
2023
£ 000

Fixed assets

 

Intangible assets

4

8

11

Current assets

 

Debtors

5

1

1

Cash at bank and in hand

 

2

3

 

3

4

Creditors: Amounts falling due within one year

6

(25)

(25)

Net current liabilities

 

(22)

(21)

Net liabilities

 

(14)

(10)

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

(15)

(11)

Shareholders' deficit

 

(14)

(10)

 

Better Buy Miles Limited

Balance Sheet

31 May 2024

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 October 2024 and signed on its behalf by:
 

.........................................
A R Brown
Director

Company Registration Number: 08306465

 

Better Buy Miles Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 4A
Severn View Industrial Estate
Central Avenue
Hallen
Bristol
BS10 7SD

These financial statements were authorised for issue by the Board on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider that the company has sufficient resources available in terms of related party funding to justify preparing the financial statements on a going concern basis.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website costs

4 years straight line

 

Better Buy Miles Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Better Buy Miles Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

4

Intangible assets

Website costs
 £ 000

Total
£ 000

Cost or valuation

At 1 June 2023

11

11

At 31 May 2024

11

11

Amortisation

Amortisation charge

3

3

At 31 May 2024

3

3

Carrying amount

At 31 May 2024

8

8

At 31 May 2023

11

11

5

Debtors

31 May
2024
£ 000

31 May
2023
£ 000

Other debtors

1

1

1

1

 

Better Buy Miles Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

31 May
2024
£ 000

31 May
2023
£ 000

Due within one year

Other creditors

24

24

Accruals and deferred income

1

1

25

25

7

Share capital

Allotted, called up and fully paid shares

 

31 May
2024

31 May
2023

 

No. 000

£ 000

No. 000

£ 000

Ordinary of £1 each

1

1

1

1