REGISTERED NUMBER: 05186429 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BY CHOICE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms E C Turner

R H Gosling

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

05186429 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

93,114

Intangible assets

4

72,809

11,056

Tangible assets

5

3,903

104,170

76,712

CURRENT ASSETS

205,709

Stocks

162,432

377,204

Debtors

6

396,062

747,165

Cash at bank

797,075

1,330,078

1,355,569

CREDITORS

1,073,055

Amounts falling due within one year

7

1,127,966

257,023

NET CURRENT ASSETS

227,603

361,193

TOTAL ASSETS LESS CURRENT LIABILITIES

304,315

CREDITORS

(264,160

)

Amounts falling due after more than one year

8

(206,960

)

(2,600

)

PROVISIONS FOR LIABILITIES

(970

)

94,433

NET ASSETS

96,385

CAPITAL AND RESERVES

100

Called up share capital

100

94,333

Retained earnings

96,285

94,433

SHAREHOLDERS' FUNDS

96,385

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

Ms E C Turner - Director

1.	STATUTORY INFORMATION

By Choice 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents the value of work completed and invoiced during the year and after taking into account the movement between opening and closing trade debtor balances and work in progress.

Intangible assets

Goodwill

The original goodwill relates to the set up costs of the company incurred in 2005 and has been written off over ten years.

In 2012, the company also acquired a business in Hadleigh and paid £42,000 for the goodwill of this business which is being written off over ten years.

In 2019, the company then acquired another business in Sudbury and paid £180,587 for the goodwill of this business which is again being written off over ten years.

Website

Website costs have been amortised in full over an estimated useful life of four years.

Stamp Duty

Stamp duty is being amortised over the term of each lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

- 10% on cost

Computer equipment

- 25% on cost

Stocks and work in progress

Work in progress reflects the commissions earned in respect of properties sold subject to contract as at 31st December 2024 which were received after that date.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Stamp

Website

Totals

Goodwill

duty

costs

£

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

374,692

360,115

2,182

12,395

AMORTISATION

At 1 January 2024

281,578

267,723

1,460

12,395

Amortisation for year

20,305

20,159

146

-

At 31 December 2024

301,883

287,882

1,606

12,395

NET BOOK VALUE

At 31 December 2024

72,809

72,233

576

-

At 31 December 2023

93,114

92,392

722

-

Cost or valuation at 31 December 2024 is represented by:

Stamp

Website

Totals

Goodwill

duty

costs

£

£

£

£

Valuation in 2006

22,921

22,921

-

-

Cost

351,771

337,194

2,182

12,395

374,692

360,115

2,182

12,395

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Totals

fittings

equipment

£

£

£

COST

At 1 January 2024

58,149

37,988

20,161

Disposals

(2,572

)

(367

)

(2,205

)

At 31 December 2024

55,577

37,621

17,956

DEPRECIATION

At 1 January 2024

47,093

32,152

14,941

Charge for year

7,153

3,149

4,004

Eliminated on disposal

(2,572

)

(367

)

(2,205

)

At 31 December 2024

51,674

34,934

16,740

NET BOOK VALUE

At 31 December 2024

3,903

2,687

1,216

At 31 December 2023

11,056

5,836

5,220

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

48,956

30,424

Other debtors

347,106

346,780

396,062

377,204

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

55,735

76,662

Trade creditors

14,146

18,329

Taxation and social security

170,451

122,925

Other creditors

887,634

855,139

1,127,966

1,073,055

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

206,960

264,160

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

61,800

61,800

Between one and five years

-

25,000

61,800

86,800

10.	SECURED DEBTS

Lloyds Bank Plc hold a fixed and floating charge over the undertaking and all of the company's property and assets.