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REGISTERED NUMBER: 13590238 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

BEST FOUNDATION

BEST FOUNDATION (REGISTERED NUMBER: 13590238)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


BEST FOUNDATION (REGISTERED NUMBER: 13590238)

BALANCE SHEET
31ST AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 29,890 47,755

CURRENT ASSETS
Debtors 5 543 6,782
Cash at bank 24,326 6,311
24,869 13,093
CREDITORS
Amounts falling due within one year 6 211,199 186,249
NET CURRENT LIABILITIES (186,330 ) (173,156 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(156,440

)

(125,401

)

RESERVES
Income and expenditure account (156,440 ) (125,401 )
(156,440 ) (125,401 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 9th May 2025 and were signed by:





Mrs C E Ponder - Director


BEST FOUNDATION (REGISTERED NUMBER: 13590238)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

BEST Foundation is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13590238

Registered office: 128 City Road
London
EC1V 2NX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

BEST FOUNDATION (REGISTERED NUMBER: 13590238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st September 2023
and 31st August 2024 71,460
AMORTISATION
At 1st September 2023 23,705
Charge for year 17,865
At 31st August 2024 41,570
NET BOOK VALUE
At 31st August 2024 29,890
At 31st August 2023 47,755

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 543 6,782

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 30,014 25,444
Other creditors 181,185 160,805
211,199 186,249