Besttreads Limited 07314381 true 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is maintenance & repair of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true Mr Scott Goulden true 07314381 2023-07-01 2024-06-30 07314381 2024-06-30 07314381 core:RetainedEarningsAccumulatedLosses 2024-06-30 07314381 core:ShareCapital 2024-06-30 07314381 core:CurrentFinancialInstruments 2024-06-30 07314381 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 07314381 core:Non-currentFinancialInstruments 2024-06-30 07314381 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 07314381 core:MotorVehicles 2024-06-30 07314381 core:OtherPropertyPlantEquipment 2024-06-30 07314381 bus:FRS102 2023-07-01 2024-06-30 07314381 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07314381 bus:FullAccounts 2023-07-01 2024-06-30 07314381 bus:RegisteredOffice 2023-07-01 2024-06-30 07314381 bus:Director1 2023-07-01 2024-06-30 07314381 bus:EntityNoLongerTradingButTradedInPast 2023-07-01 2024-06-30 07314381 bus:Consolidated 2023-07-01 2024-06-30 07314381 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07314381 core:MotorVehicles 2023-07-01 2024-06-30 07314381 core:PlantMachinery 2023-07-01 2024-06-30 07314381 countries:AllCountries 2023-07-01 2024-06-30 07314381 2023-06-30 07314381 core:MotorVehicles 2023-06-30 07314381 core:OtherPropertyPlantEquipment 2023-06-30 07314381 2023-06-30 07314381 core:RetainedEarningsAccumulatedLosses 2023-06-30 07314381 core:ShareCapital 2023-06-30 07314381 core:CurrentFinancialInstruments 2023-06-30 07314381 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 07314381 core:Non-currentFinancialInstruments 2023-06-30 07314381 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 07314381 core:MotorVehicles 2023-06-30 07314381 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP

Registration number: 07314381

Besttreads Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Besttreads Limited

Profit and Loss Account for the Year Ended 30 June 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Besttreads Limited

(Registration number: 07314381)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

20,356

20,356

Current assets

 

Debtors

4

45,000

45,000

Creditors: Amounts falling due within one year

5

(11,616)

(11,616)

Net current assets

 

33,384

33,384

Total assets less current liabilities

 

53,740

53,740

Creditors: Amounts falling due after more than one year

5

(37,500)

(37,500)

Net assets

 

16,240

16,240

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

16,238

16,238

Shareholders' funds

 

16,240

16,240

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 his 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.

Approved and authorised by the director on 8 November 2024
 

.........................................
Mr Scott Goulden
Director

 

Besttreads 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 and Wales .

The address of its registered office is:
Unit D
Stanley Road Industrial Estate
Knutsford
Cheshire
WA16 0EG
UK

These financial statements were authorised for issue by the director on 8 November 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 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.

Going concern

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

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machiney

20% Reducing balance

Motor vehicles

20% Reducing balance

 

Besttreads Limited

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

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Besttreads Limited

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

3

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

22,908

23,104

46,012

At 30 June 2024

22,908

23,104

46,012

Depreciation

At 1 July 2023

11,740

13,916

25,656

At 30 June 2024

11,740

13,916

25,656

Carrying amount

At 30 June 2024

11,168

9,188

20,356

At 30 June 2023

11,168

9,188

20,356

4

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

45,000

45,000

   

45,000

45,000

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,000

5,000

Amounts due to related parties

3,221

3,221

Other payables

 

661

661

Income tax liability

2,734

2,734

 

11,616

11,616

Due after one year

 

Loans and borrowings

7

37,500

37,500

6

Share capital

Allotted, called up and fully paid shares

 

Besttreads Limited

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

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

37,500

37,500

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,000

5,000