COMPANY REGISTRATION NUMBER:
SC577298
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Best Design and Innovation Ltd. |
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Filleted Unaudited Financial Statements |
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Best Design and Innovation Ltd. |
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Year ended 30 September 2025
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Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
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Statement of financial position |
2 |
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Notes to the financial statements |
3 |
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Best Design and Innovation Ltd. |
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Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Best Design and Innovation Ltd. |
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Year ended 30 September 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Best Design and Innovation Ltd. for the year ended 30 September 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Best Design and Innovation Ltd.. Our work has been undertaken solely to prepare for your approval the financial statements of Best Design and Innovation Ltd. and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Best Design and Innovation Ltd. and its director for our work or for this report.
It is your duty to ensure that Best Design and Innovation Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Best Design and Innovation Ltd.. You consider that Best Design and Innovation Ltd. is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Best Design and Innovation Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY
Chartered Accountants
216 West George Street
Glasgow
G2 2PQ
29 May 2026
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Best Design and Innovation Ltd. |
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Statement of Financial Position |
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30 September 2025
Current assets
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Work in Progress |
122,000 |
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202,000 |
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Debtors |
4 |
75,046 |
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12,530 |
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Cash at bank and in hand |
12 |
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1,376 |
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--------- |
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--------- |
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197,058 |
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215,906 |
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Creditors: amounts falling due within one year |
5 |
160,178 |
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184,159 |
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Net current assets |
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36,880 |
31,747 |
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Total assets less current liabilities |
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36,880 |
31,747 |
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Creditors: amounts falling due after more than one year |
6 |
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5,950 |
9,100 |
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Net assets |
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30,930 |
22,647 |
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Capital and reserves
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Called up share capital |
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2 |
2 |
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Profit and loss account |
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30,928 |
22,645 |
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-------- |
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Shareholders funds |
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30,930 |
22,647 |
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-------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
29 May 2026
, and are signed on behalf of the board by:
Company registration number:
SC577298
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Best Design and Innovation Ltd. |
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Notes to the Financial Statements |
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Year ended 30 September 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Debtors
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2025 |
2024 |
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£ |
£ |
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Trade debtors |
151 |
12,530 |
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Other debtors |
74,895 |
– |
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75,046 |
12,530 |
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5.
Creditors:
amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Corporation tax |
46,469 |
7,857 |
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Social security and other taxes |
44,424 |
9,867 |
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Other creditors |
69,285 |
166,435 |
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160,178 |
184,159 |
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6.
Creditors:
amounts falling due after more than one year
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2025 |
2024 |
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£ |
£ |
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Bank loans and overdrafts |
5,950 |
9,100 |
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------- |
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7.
Director's advances, credits and guarantees
As at 30th September 2025, the company owed Mr Best, Director £2,156. (2024: £165,681)
8.
Related party transactions
At the year end, there is an amount outstanding to be paid to a company under common control of £66,200 (2024: £nil). The amount is interest-free, unsecured and repayable on demand. At the year end, there is an amount due from a shareholder of £69,895 (2024: £nil). Interest is charged on the loan at the HMRC official rate of interest. The amount is repaid to the company within 9 months of the year end.
9.
Controlling party
The company was under the control of Mr Best throughout the period.