Bestguild Limited 02023881 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Property Investment Digita Accounts Production Advanced 6.30.9574.0 true true 02023881 2023-07-01 2024-06-30 02023881 2024-06-30 02023881 core:RetainedEarningsAccumulatedLosses 2024-06-30 02023881 core:RevaluationReserve 2024-06-30 02023881 core:ShareCapital 2024-06-30 02023881 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02023881 core:LandBuildings 2024-06-30 02023881 bus:SmallEntities 2023-07-01 2024-06-30 02023881 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02023881 bus:FilletedAccounts 2023-07-01 2024-06-30 02023881 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02023881 bus:RegisteredOffice 2023-07-01 2024-06-30 02023881 bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 02023881 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02023881 core:RevaluationReserve core:LandBuildings 2023-07-01 2024-06-30 02023881 core:LandBuildings 2023-07-01 2024-06-30 02023881 countries:AllCountries 2023-07-01 2024-06-30 02023881 2023-06-30 02023881 core:LandBuildings 2023-06-30 02023881 2022-07-01 2023-06-30 02023881 2023-06-30 02023881 core:RetainedEarningsAccumulatedLosses 2023-06-30 02023881 core:RevaluationReserve 2023-06-30 02023881 core:ShareCapital 2023-06-30 02023881 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02023881 core:LandBuildings 2023-06-30 02023881 core:RevaluationReserve core:LandBuildings 2022-07-01 2023-06-30 02023881 core:LandBuildings 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 02023881

Bestguild Limited



Filleted Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Bestguild Limited

 

(Registration number: 02023881)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,735,000

1,735,000

Investments in joint property syndicates

5

281,062

274,714

 

2,016,062

2,009,714

Current assets

 

Debtors

6

535,269

333,269

Cash at bank and in hand

 

30,451

270,273

 

565,720

603,542

Creditors: Amounts falling due within one year

7

(74,001)

(82,103)

Net current assets

 

491,719

521,439

Total assets less current liabilities

 

2,507,781

2,531,153

Provisions for liabilities

(270,938)

(270,938)

Net assets

 

2,236,843

2,260,215

Capital and reserves

 

Called up share capital

105

105

Revaluation reserve

-

812,813

Profit and loss account

1,423,925

1,447,297

Non-distributable reserve

 

812,813

-

Total equity

 

2,236,843

2,260,215

 

Bestguild Limited

 

(Registration number: 02023881)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 March 2025
 

.........................................
Mrs R Silber
Company secretary and director

 

Bestguild Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL
England

These financial statements were authorised for issue by the director on 12 March 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Investment in Joint Property Syndicates

Investments in syndicates are accounted for under the equity accounting method.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Bestguild Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Bestguild Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

1,735,000

1,735,000

At 30 June 2024

1,735,000

1,735,000

Depreciation

Carrying amount

At 30 June 2024

1,735,000

1,735,000

At 30 June 2023

1,735,000

1,735,000

Included within the net book value of land and buildings above is £1,735,000 (2023 - £1,735,000) in respect of freehold land and buildings.
 

 

Bestguild Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Investments in joint property syndicates

£

Capital as at 1 July 2023

274,715

Surplus/Deficit

19,452

Repayments

(13,105)

At 30 June 2024

281,062

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,470

4,470

Other debtors

530,799

328,799

 

535,269

333,269

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

8,538

17,483

Accruals and deferred income

8,703

18,160

Other creditors

56,760

46,460

74,001

82,103

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Bestguild Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(812,813)

(812,813)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

241,691

241,691