Registered number
13846424
Best Services International Freight UK Limited
Filleted Accounts
31 December 2024
Best Services International Freight UK Limited
Registered number: 13846424
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,768 10,462
Current assets
Stocks 13,213 28,936
Debtors 4 215,359 242,880
Cash at bank and in hand 244,080 254,722
472,652 526,538
Creditors: amounts falling due within one year 5 (76,417) (215,212)
Net current assets 396,235 311,326
Total assets less current liabilities 404,003 321,788
Creditors: amounts falling due after more than one year 6 (1,438,184) (824,147)
Net liabilities (1,034,181) (502,359)
Capital and reserves
Called up share capital 300,000 300,000
Profit and loss account (1,334,181) (802,359)
Shareholder's funds (1,034,181) (502,359)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mr Pin-Yen Liu
Director
Approved by the board on 22 September 2025
Best Services International Freight UK 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
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 8 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 7,384 7,375 14,759
Additions - 1,366 1,366
At 31 December 2024 7,384 8,741 16,125
Depreciation
At 1 January 2024 2,823 1,474 4,297
Charge for the year 2,607 1,453 4,060
At 31 December 2024 5,430 2,927 8,357
Net book value
At 31 December 2024 1,954 5,814 7,768
At 31 December 2023 4,561 5,901 10,462
4 Debtors 2024 2023
£ £
Trade debtors 17,266 37,653
Other debtors 198,093 205,227
215,359 242,880
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 69,295 197,726
Taxation and social security costs 55 5,755
Other creditors 7,067 11,731
76,417 215,212
6 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,438,184 824,147
7 Other information
Best Services International Freight UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hamilton House
Mabledon Place
London
WC1H 9BB
Best Services International Freight UK Limited 13846424 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 Mr Pin-Yen Liu No description of principal activity 13846424 2023-01-01 2023-12-31 13846424 core:WithinOneYear 2023-12-31 13846424 core:AfterOneYear 2023-12-31 13846424 core:ShareCapital 2023-12-31 13846424 core:RetainedEarningsAccumulatedLosses 2023-12-31 13846424 2024-01-01 2024-12-31 13846424 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13846424 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13846424 bus:Director40 2024-01-01 2024-12-31 13846424 1 2024-01-01 2024-12-31 13846424 2 2024-01-01 2024-12-31 13846424 core:LandBuildings 2024-01-01 2024-12-31 13846424 core:PlantMachinery 2024-01-01 2024-12-31 13846424 countries:England 2024-01-01 2024-12-31 13846424 bus:FRS102 2024-01-01 2024-12-31 13846424 bus:FilletedAccounts 2024-01-01 2024-12-31 13846424 2024-12-31 13846424 core:WithinOneYear 2024-12-31 13846424 core:AfterOneYear 2024-12-31 13846424 core:ShareCapital 2024-12-31 13846424 core:RetainedEarningsAccumulatedLosses 2024-12-31 13846424 core:LandBuildings 2024-12-31 13846424 core:PlantMachinery 2024-12-31 13846424 2023-12-31 13846424 core:LandBuildings 2023-12-31 13846424 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure