Registered number
05581957
BEST BAGEL LIMITED
Unaudited Filleted Accounts
31 October 2024
BEST BAGEL LIMITED
Registered number: 05581957
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 56,895 70,376
Investments 4 1,210,000 1,010,000
1,266,895 1,080,376
Current assets
Stocks 12,750 13,600
Debtors 5 269,540 236,892
Cash at bank and in hand 330,868 173,766
613,158 424,258
Creditors: amounts falling due within one year 6 (473,865) (228,700)
Net current assets 139,293 195,558
Net assets 1,406,188 1,275,934
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,406,186 1,275,932
Shareholders' funds 1,406,188 1,275,934
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Bulent Gurel
Director
Approved by the board on 24 July 2025
BEST BAGEL LIMITED
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 21
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 106,415 73,650 180,065
Additions 10,384 - 10,384
Disposals - (16,650) (16,650)
At 31 October 2024 116,799 57,000 173,799
Depreciation
At 1 November 2023 84,923 24,766 109,689
Charge for the year 16,840 - 16,840
On disposals - (9,625) (9,625)
At 31 October 2024 101,763 15,141 116,904
Net book value
At 31 October 2024 15,036 41,859 56,895
At 31 October 2023 21,492 48,884 70,376
4 Investments
Other
investments
£
Cost
At 1 November 2023 1,010,000
Additions 200,000
At 31 October 2024 1,210,000
5 Debtors 2024 2023
£ £
Trade debtors - 19,781
Other debtors 269,540 217,111
269,540 236,892
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 231,968 14,255
Taxation and social security costs 236,848 203,808
Other creditors 5,049 10,637
473,865 228,700
7 Other information
BEST BAGEL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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