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REGISTERED NUMBER: 04331988 (England and Wales)















Financial Statements for the Year Ended 31st December 2024

for

Best4business Accountants & Company
Limited

Best4business Accountants & Company
Limited (Registered number: 04331988)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Income Statement 2

Other Comprehensive Income 3

Balance Sheet 4

Cash Flow Statement 6

Notes to the Cash Flow Statement 7

Notes to the Financial Statements 8


Best4business Accountants & Company
Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: R C Mohabaty
S Healy





SECRETARY: Best4Business Limited (corporate)





REGISTERED OFFICE: 45 Beaufort Court
Admirals Way
London
E14 9XL





REGISTERED NUMBER: 04331988 (England and Wales)






Best4business Accountants & Company
Limited (Registered number: 04331988)

Income Statement
for the Year Ended 31st December 2024

2024 2023
Notes £'000 £'000

TURNOVER 4,157 3,610

Cost of sales (290 ) (233 )
GROSS PROFIT 3,867 3,377

Administrative expenses (3,743 ) (3,333 )
124 44

Other operating income 99 131
OPERATING PROFIT 4 223 175


Interest payable and similar expenses (11 ) (15 )
PROFIT BEFORE TAXATION 212 160

Tax on profit 5 (55 ) (78 )
PROFIT FOR THE FINANCIAL YEAR 157 82

Best4business Accountants & Company
Limited (Registered number: 04331988)

Other Comprehensive Income
for the Year Ended 31st December 2024

2024 2023
Notes £'000 £'000

PROFIT FOR THE YEAR 157 82


OTHER COMPREHENSIVE INCOME
Net gains on investments 4 59
Revaluation gain
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

4

59
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

161

141

Best4business Accountants & Company
Limited (Registered number: 04331988)

Balance Sheet
31st December 2024

2024 2023
Notes £'000 £'000
FIXED ASSETS
Intangible assets 6 29 33
Tangible assets 7 1,204 1,175
Investments 8 132 125
1,365 1,333

CURRENT ASSETS
Stocks 102 81
Debtors 9 530 473
Cash at bank 94 50
726 604
CREDITORS
Amounts falling due within one year 10 (459 ) (453 )
NET CURRENT ASSETS 267 151
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,632

1,484

CREDITORS
Amounts falling due after more than one year 11 (620 ) (557 )

PROVISIONS FOR LIABILITIES 13 (79 ) (86 )
NET ASSETS 933 841

CAPITAL AND RESERVES
Called up share capital 14 - -
Revaluation reserve 15 188 188
Other reserves 15 62 59
Retained earnings 15 683 594
SHAREHOLDERS' FUNDS 933 841

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

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

The directors acknowledge their 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 profit or loss 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.

Best4business Accountants & Company
Limited (Registered number: 04331988)

Balance Sheet - continued
31st December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd July 2025 and were signed on its behalf by:





R C Mohabaty - Director


Best4business Accountants & Company
Limited (Registered number: 04331988)

Cash Flow Statement
for the Year Ended 31st December 2024

2024 2023
Notes £'000 £'000
Cash flows from operating activities
Cash generated from operations 1 202 386
Interest paid (11 ) (15 )
Tax paid (40 ) (52 )
Net cash from operating activities 151 319

Cash flows from investing activities
Purchase of intangible fixed assets (2 ) (8 )
Purchase of tangible fixed assets (107 ) (34 )
Purchase of fixed asset investments (7 ) (64 )
Sale of tangible fixed assets - 6
Net cash from investing activities (116 ) (100 )

Cash flows from financing activities
New loans in year 262 -
Loan repayments in year (141 ) (100 )
Amount introduced by directors - 6
Amount withdrawn by directors (22 ) -
Equity dividends paid (68 ) (103 )
Net cash from financing activities 31 (197 )

Increase in cash and cash equivalents 66 22
Cash and cash equivalents at beginning of year 2 28 6

Cash and cash equivalents at end of year 2 94 28

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Cash Flow Statement
for the Year Ended 31st December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£'000 £'000
Profit before taxation 212 160
Depreciation charges 82 79
Profit on disposal of fixed assets - (2 )
Finance costs 11 15
305 252
Increase in stocks (21 ) (49 )
(Increase)/decrease in trade and other debtors (56 ) 105
(Decrease)/increase in trade and other creditors (26 ) 78
Cash generated from operations 202 386

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2024
31/12/24 1/1/24
£'000 £'000
Cash and cash equivalents 94 50
Bank overdrafts - (22 )
94 28
Year ended 31st December 2023
31/12/23 1/1/23
£'000 £'000
Cash and cash equivalents 50 7
Bank overdrafts (22 ) (1 )
28 6


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/24 Cash flow At 31/12/24
£'000 £'000 £'000
Net cash
Cash at bank 50 44 94
Bank overdrafts (22 ) 22 -
28 66 94
Debt
Debts falling due within 1 year (77 ) (58 ) (135 )
Debts falling due after 1 year (557 ) (63 ) (620 )
(634 ) (121 ) (755 )
Total (606 ) (55 ) (661 )

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Best4business Accountants & Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least the next 12 months. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the Company obtains the right to consideration. Unbilled work as at 31st December 2024 has been accrued.

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 eight years.

Depreciation
Depreciation had been provided at the following rates of in order to write-off the assets over their estimated useful lives.

Motor vehicles -20% reducing balance
Computer and office equipment - over 2 to 4 years (straight line)
Fixtures, fittings and equipment - over 2 to 4 years (straight line)

No depreciation is provided on freehold land. Freehold property is carried at fair value therefore no depreciation is provided. Valuations are undertaken by the directors at the end of each reporting period using open market value on an existing use basis. The Company considers that the adoption of this policy is necessary to give a true and fair view.

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value. Net realisable value is based upon estimated normal selling price less further cost expected to be incurred to completing or disposal. Provisions is made where costs are not expected to be fully recovered.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses on translation are included in the Profit and Loss account.

Pension costs
The company operates a defined contribution pension scheme for the benefit of its employees. Its contributions are charges to the Profit and Loss account for year or period in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals and prepayments at the year end of the period.

Current taxation
Corporation tax payable is provided on taxable profits at the current rate.

Government grants
Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over the estimated useful economic lives of the assets to which they relate.

Client monies
Monies collected on behalf of clients are held on trust in a separately administered bank account not shown in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 40 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£'000 £'000
Depreciation - owned assets 78 74
Computer software amortisation 6 5

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£'000 £'000
Current tax:
UK corporation tax 62 44

Deferred tax (7 ) 34
Tax on profit 55 78

UK corporation tax was charged at 25%) in 2023.

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£'000 £'000 £'000
Net gains on investments 4 - 4
Revaluation gain
4 - 4

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

5. TAXATION - continued

2023
Gross Tax Net
£'000 £'000 £'000
Net gains on investments 59 - 59
Revaluation gain
59 - 59

6. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£'000
COST
At 1st January 2024 42
Additions 2
At 31st December 2024 44
AMORTISATION
At 1st January 2024 9
Charge for year 6
At 31st December 2024 15
NET BOOK VALUE
At 31st December 2024 29
At 31st December 2023 33

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£'000 £'000 £'000 £'000 £'000
COST OR VALUATION
At 1st January 2024 955 260 157 173 1,545
Additions - 32 66 9 107
At 31st December 2024 955 292 223 182 1,652
DEPRECIATION
At 1st January 2024 - 130 103 137 370
Charge for year - 42 12 24 78
At 31st December 2024 - 172 115 161 448
NET BOOK VALUE
At 31st December 2024 955 120 108 21 1,204
At 31st December 2023 955 130 54 36 1,175

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

7. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st December 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£'000 £'000 £'000 £'000 £'000
Valuation in 2023 955 260 157 173 1,545
Valuation in 2024 - 32 67 10 109
955 292 224 183 1,654

8. FIXED ASSET INVESTMENTS
Investments
£'000
COST
At 1st January 2024 125
Additions 7
At 31st December 2024 132
NET BOOK VALUE
At 31st December 2024 132
At 31st December 2023 125

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

8. FIXED ASSET INVESTMENTS - continued

The Market value of all listed investments at the end of the reporting period was £132,000 (2023: £125,000).

The Company's investments in the associated company, Treethorpe Limited, represents 2.49% of the issued ordinary share capital of that company, which is registered in England, Number: 0617 2161, and which provides professional genealogy services to individuals and businesses.

At the end of the year the Company held 1,404 shares of £0.01 each of the issued share capital of Treethorpe Limited, whose aggregate share capital and reserves at the date of its most recent accounting period were £537,000 [2023: £489,000].

The Company's investments in its subsidiary company, Hansen Sweeney Limited, represents 100% of the issued ordinary share capital of that company, which is registered in England, Number: 0922 9351, and which provides advisory services relating to US and other overseas individuals and businesses.

At the end of the year the Company held 100 shares of £1.00 each of the issued share capital of Hansen Sweeney Limited, whose aggregate share capital and reserves at that date were £57,547 [2023: £29,034].

The Company's investments in its subsidiary company, Best4Business (Technology Partners) Limited, represents 100% of the issued ordinary share capital of that company, which is registered in England, Number: 1085 9135, and which provide IT consulting services.

At the end of the year the Company held 1,000 shares of £0.10 each of the issued share capital of Best4business (Technology Partners) Limited, whose aggregate share capital and reserves at that date were £2,824 [2023: £2,749].

The Company's investments in its subsidiary company, First Choice Accountancy (Best4business) Limited , represents 100% of the issued ordinary share capital of that company, which is registered in England, Number: 1157 7434, and which provides accountancy and tax services for private individuals in the UK.

At the end of the year the Company held 1000 shares of £0.10 each of the issued share capital of First Choice Accountancy (Best4business) Limited, whose aggregate share capital and reserves at that date were £1,960 [2023: £1,830].

The Company's investments in its subsidiary company, 1st Choice Incorporations Ltd, represents 100% of the issued ordinary share capital of that company, which is registered in England, Number: 12268043, and which provides limited company formation services in th UK.

At the end of the year the Company held 1000 shares of £0.10 each of the issued share capital of 1st Choice Incorporations Ltd, whose aggregate share capital and reserves at that date were £100 [2023: £100].

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Trade debtors 303 263
Amounts owed by participating interests 101 132
Other debtors 126 78
530 473

Other debtors comprise deposits, prepayments, employee loans and director loans of £2,000 [2023: (£19,000)]

Amounts owed by participating interests consist short term loans provided to subsidiary and associated entities; as at the end of the year Hansen Sweeney Limited £25,000, [2023: £11,000], First Choice Accountancy (Best4business) Limited £8,000, [2023: £6,000] and Taylor Keeble LLP £68,000 [2023: £115,000].

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Bank loans and overdrafts 135 99
Trade creditors 27 19
Amounts owed to participating interests 16 17
Taxation and social security 194 215
Other creditors 87 103
459 453

Other creditors comprise accruals, short-term loans provided to the Company and pension liabilities.

Amounts owed to participating interests consist short term loans provided by subsidiary and associated entities; as at the end of the year 1st Choice Incorporations Limited £10,000 [2023: £7,000] and Best4business (Technology Partners) Limited £6,000 [2023: £10,000]. All are repayable on demand.

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£'000 £'000
Bank loans 498 415
Other creditors 122 142
620 557

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 283

Other creditors comprise business loans provided to the company repayable within 5 years.

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£'000 £'000
Within one year 154 107
Between one and five years 462 391
In more than five years - 12
616 510

13. PROVISIONS FOR LIABILITIES
2024 2023
£'000 £'000
Deferred tax 79 86

Deferred
tax
£'000
Balance at 1st January 2024 86
Credit to Income Statement during year (7 )
Balance at 31st December 2024 79

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40,000 'A' Ordinary 0.01 400 400
500 'B' Ordinary 0.01 5 5
15,050 'C' Ordinary 0.01 151 145
556 550

15. RESERVES
Retained Revaluation Other
earnings reserve reserves Totals
£'000 £'000 £'000 £'000

At 1st January 2024 594 188 59 841
Profit for the year 157 - - 157
Dividends (68 ) - - (68 )
Other comprehensive income - - 3 3
At 31st December 2024 683 188 62 933

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£'000 £'000
R C Mohabaty
Balance outstanding at start of year (19 ) (14 )
Amounts advanced 21 14
Amounts repaid - (19 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2 (19 )

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

17. RELATED PARTY DISCLOSURES

Treethorpe Limited

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to Treethorpe Limited, a company registered in England number 06172161, of which Mr RC Mohabaty is a majority shareholder and director. The commercial transactions between the two companies are at arm's length.

Hansen Sweeney Limited

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to Hansen Sweeney Limited, a company registered in England with number 9229351, a wholly owned subsidiary company of which Mr RC Mohabaty is a director. The value of such sales during the period being reported was £120,000 [2023: £95,000] excluding VAT.

The total balance due from Hansen Sweeney Limited at the end of the period was £25,000 [2023: £11,000].

Best4business (Technology Partners) Limited

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to Best4business (Technology Partners) Limited, a company registered in England with number 10859135, a wholly owned subsidiary company of which Mr RC Mohabaty is a director. The value of such sales during the period being reported was £164,000 [2023: £121,000] excluding VAT.

The company also purchases, on normal commercial terms, IT consultancy services from Best4business (Technology Partners) Limited. The value of such purchases during the period being reported was £288,000 [2023: £204,000] excluding VAT.

The total balance due from Best4business (Technology Partners) Limited at the end of the period was £6,000 [2023: £10,000].

First Choice Accountancy (Best4business) Ltd

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to First Choice Accountancy (Best4business) Ltd, a company registered in England with number 11577434, a wholly owned subsidiary company of which Mr RC Mohabaty is a director. The value of such sales during the period being reported was £23,000 [2023: £55,000] excluding VAT.

The total balance due from First Choice Accountancy (Best4business) Ltd at the end of the period was £8,000 [2023: £6,000].

Taylor Keeble LLP

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to Taylor Keeble LLP , a limited liability partnership registered in England with number OC412705, of which Mr RC Mohabaty is a designated partner. The value of such sales during the period being reported was £497,000 [2023: £534,000] excluding VAT.

The company also purchases, on normal commercial terms, management, accounting, bookkeeping and payroll services from Taylor Keeble LLP. The value of such purchases during the period being reported was £640,000 [2023: £573,000] excluding VAT.

The total balance due from Taylor Keeble LLP at the end of the period was £68,000 [2023: £115,000].

1st Choice Incorporations Ltd

The company sells, on normal commercial terms, management, accounting, bookkeeping and payroll services to 1st Choice Incorporations Ltd, a company registered in England with number 12268043, a wholly owned subsidiary company of which Mr RC Mohabaty is a director. The value of such sales during the period being reported was £247,000 [2023: £196,000] excluding VAT.

The company also purchases, on normal commercial terms, company secretarial and incorporation services from 1st Choice Incorporations Ltd. The value of such purchases during the period being reported was £204,000 [2023: £144,000] excluding VAT.

Best4business Accountants & Company
Limited (Registered number: 04331988)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

The total balance due to 1st Choice Incorporations Ltd at the end of the period was £10,000 [2023: £7,000].

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr RC Mohabaty who owns and/or controls 72.9% [2023: 73.6%] of issued ordinary share capital of the Company.