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Registered Number: 10833833
England and Wales

 

 

 

YOUR BEST INTERESTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 9,332    11,380 
9,332    11,380 
Current assets      
Debtors: amounts falling due within one year 92,098    31,748 
Debtors: amounts falling due after one year 109,670    109,585 
Cash at bank and in hand 76,471    120,443 
278,239    261,776 
Creditors: amount falling due within one year (95,956)   (89,463)
Net current assets 182,283    172,313 
 
Total assets less current liabilities 191,615    183,693 
Creditors: amount falling due after more than one year (56)   (10,704)
Net assets 191,559    172,989 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 191,558    172,988 
Shareholders' funds 191,559    172,989 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 March 2025 and were signed by:


-------------------------------
Samuel Neuman
Director
1
General Information
YOUR BEST INTERESTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10833833, registration address SUITE 347, 78 GOLDERS GREEN ROAD,GOLDERS GREEN, LONDON, NW11 8LN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
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 companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover is mainly generated from financial services and is exempt from VAT.
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.


Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Other operating income
Other operating income includes revenue from all other operating activities which are not related to the principal activities of the company, such as gains/losses from disposals, interest income, dividend income.
Other operating income is generated from solicitors referral.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 18% Reducing Balance
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.

Cash
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.
Loans/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.

2.

Average number of employees

Average number of employees during the year was 6 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 July 2023 11,978    11,978 
Additions  
Disposals  
At 30 June 2024 11,978    11,978 
Depreciation
At 01 July 2023 598    598 
Charge for year 2,048    2,048 
On disposals  
At 30 June 2024 2,646    2,646 
Net book values
Closing balance as at 30 June 2024 9,332    9,332 
Opening balance as at 01 July 2023 11,380    11,380 


2