Registered number
03903926
Best Practice Group Limited
Unaudited Filleted Accounts
31 December 2024
Best Practice Group Limited
Registered number: 03903926
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,838 2,919
Investments 4 2 2
3,840 2,921
Current assets
Debtors 5 492,747 482,513
Cash at bank and in hand 133,992 456,682
626,739 939,195
Creditors: amounts falling due within one year 6 (499,103) (751,764)
Net current assets 127,636 187,431
Total assets less current liabilities 131,476 190,352
Creditors: amounts falling due after more than one year 7 - (21,111)
Provisions for liabilities (960) (730)
Net assets 130,516 168,511
Capital and reserves
Called up share capital 50,004 50,004
Capital redemption reserve 50,000 50,000
Profit and loss account 30,512 68,507
Shareholders' funds 130,516 168,511
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.
A Watton
Director
Approved by the board on 4 September 2025
Best Practice Group Limited
Notes to the Accounts
for the year ended 31 December 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 and from the rendering of services. 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.
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:
Office equipment 20% straight line
Investments
Investments in subsidiary undertakings are recognised at cost.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Office equipment
£
Cost
At 1 January 2024 22,694
Additions 2,248
At 31 December 2024 24,942
Depreciation
At 1 January 2024 19,775
Charge for the year 1,329
At 31 December 2024 21,104
Net book value
At 31 December 2024 3,838
At 31 December 2023 2,919
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 2
At 31 December 2024 2
5 Debtors 2024 2023
£ £
Trade debtors 241,278 293,109
Other debtors 148,567 -
Prepayments and accrued income 102,902 189,404
492,747 482,513
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,111 50,667
Trade creditors 135,017 350,567
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2 2
Taxation and social security costs 112,252 12,101
Accruals and deferred income 117,891 126,194
Director's loan account - 100,983
Other creditors 112,830 111,250
499,103 751,764
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 21,111
8 Other information
Best Practice Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Crows Nest Business Park
Ashton Road
Billinge
Wigan
WN5 7XX
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