2023-11-012024-10-312024-10-31false12260594BETTER INTELLIGENT MANAGEMENT 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BETTER INTELLIGENT MANAGEMENT LIMITED

Registered Number
12260594
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

BETTER INTELLIGENT MANAGEMENT LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

SONG, Ieong Kong

Registered Address

314 Carshalton Road
Carshalton
SM5 3QB

Registered Number

12260594 (England and Wales)
BETTER INTELLIGENT MANAGEMENT LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets1,574,7601,574,760
Investments378,765-
1,653,5251,574,760
Current assets
Debtors387,958356,304
Cash at bank and on hand45,27650,675
433,234406,979
Creditors amounts falling due within one year(67,381)(83,381)
Net current assets (liabilities)365,853323,598
Total assets less current liabilities2,019,3781,898,358
Creditors amounts falling due after one year4(2,595,652)(2,094,279)
Net assets(576,274)(195,921)
Capital and reserves
Called up share capital11
Profit and loss account(576,275)(195,922)
Shareholders' funds(576,274)(195,921)
The financial statements were approved and authorised for issue by the Director on 17 July 2025, and are signed on its behalf by:
SONG, Ieong Kong
Director
Registered Company No. 12260594
BETTER INTELLIGENT MANAGEMENT LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted. A deferred tax liability on capital allowances linked to investment properties has not been provided as it is expected that they will not reverse when the properties are disposed of.
Investments
Investment properties are those properties that are held either to earn rental income or for capital appreciation or both. Investment properties are initially measured at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from the changes in the fair value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they arise. Investment properties are stated at fair value as determined by the Directors, based upon external valuations. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with International Valuation Standards. In determining the fair value of investment properties, the directors make use of historical and current market data as well as existing lease agreements. Additions and disposal of investment properties are recognised in the accounts when the risks and rewards of the ownership are transferred.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments

Total

£
Cost or valuation
Additions78,765
At 31 October 2478,765
Net book value
At 31 October 2478,765
At 31 October 23-
4.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties2,595,6522,094,279
Total2,595,6522,094,279
Transactions with directors mainly arose business expenses paid on behalf of the company. As at 31 October 2024, the amounts of £620,000 and £1,475,653 owing to its associated companies Basic Investment Group Ltd and Basic Investment Team Limited respectively, in which Mr. I K Song is the director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
5.Related party transactions
As at 31 October 2024, there was still an amount of £499,999 owing to the director, Mr. I K Song (as at 31 October 2023: £499,999). This amount is interest free, unsecured and has no fixed repayment terms.