Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2performing arts2023-10-01true2falsefalse 08642871 2023-10-01 2024-09-30 08642871 2022-10-01 2023-09-30 08642871 2024-09-30 08642871 2023-09-30 08642871 c:Director1 2023-10-01 2024-09-30 08642871 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 08642871 d:PlantMachinery 2023-10-01 2024-09-30 08642871 d:FurnitureFittings 2023-10-01 2024-09-30 08642871 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 08642871 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08642871 d:ShareCapital 2024-09-30 08642871 d:ShareCapital 2023-09-30 08642871 d:RetainedEarningsAccumulatedLosses 2024-09-30 08642871 d:RetainedEarningsAccumulatedLosses 2023-09-30 08642871 c:FRS102 2023-10-01 2024-09-30 08642871 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08642871 c:FullAccounts 2023-10-01 2024-09-30 08642871 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08642871 2 2023-10-01 2024-09-30 08642871 6 2023-10-01 2024-09-30 08642871 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
                                                                                                                                Registered number: 08642871














BEST MATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BEST MATES LIMITED
REGISTERED NUMBER:08642871

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
766,722
772,556

Investments
  
-
2,068,400

  
766,722
2,840,956

Current assets
  

Debtors
  
454,660
481,348

Cash at bank and in hand
  
2,338,337
72,058

  
2,792,997
553,406

Current liabilities
  

Creditors: amounts falling due within one year
  
(939,065)
(535,884)

Net current assets
  
 
 
1,853,932
 
 
17,522

Total assets less current liabilities
  
2,620,654
2,858,478

  

Net assets
  
2,620,654
2,858,478


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
2,620,652
2,858,476

  
2,620,654
2,858,478


Page 1

 
BEST MATES LIMITED
REGISTERED NUMBER:08642871
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2025.




Joshua Lloyd-Watson
Director

Page 2

 
BEST MATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

BEST MATES LIMITED is a private company limited by shares, incorporated in England and Wales. The registered office is 2nd Floor, Connaught House, 1-3 Mount Street (Entrance via Davies Street), London, United Kingdom, W1K 3NB.
The principal activity of the company during the period was performing arts.
The company's functional and presentational currency is Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BEST MATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Plant and machinery
-
10%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
BEST MATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

 
Page 5