| Bestex Research Ltd |
| Notes to the Accounts |
| for the period from 3 October 2024 to 31 December 2025 |
|
|
| 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). |
|
|
Monetary amounts in these financial statements are rounded to the nearest £. |
|
|
Turnover |
|
Turnover is recognized to the extent that it is probably that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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: |
|
|
Rendering of services |
|
Turnover from a contract to provide services is recognized in the period in which the services are provided in acordance with the stage of completion of the contract when all of the following conditions are satisfied: |
|
a) the amount of revenue can be measured reliably; |
|
b) it is probable that the company will receive the consideration due under the contract; |
|
c) the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
|
d) the costs incurred and the costs to complete the contract can be measured reliably. |
|
|
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. |
|
|
Going concern |
|
The directors believe that the company is well placed to manage its business risks successfully. The directors have a reasonable expectation that the comanpy has adequate resources to continue in operational existence for the foreseeable future and support will be provided by the immediate parent company if required. The directors consider it appropriate to adopt the going concern basis of preparing the annual financial statements. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Audit information |
|
|
The audit report is unqualified. |
|
|
Senior statutory auditor: |
Kailash Khagi |
|
Firm: |
Khagi & Co. |
|
Date of audit report: |
22 June 2026 |
|
|
| 3 |
Employees |
2025 |
|
| Number |
|
|
|
Average number of persons employed by the company |
2 |
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2025 |
|
| £ |
|
|
|
Prepayments |
|
|
|
|
1,652 |
|
Accrued income |
|
|
|
|
56,527 |
|
|
|
|
|
|
58,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
|
Trade creditors |
10 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
75,000 |
|
Accruals |
|
|
|
|
58,751 |
|
Taxation and social security costs |
14,257 |
|
|
|
|
|
|
148,017 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
Amounts owed to group undertakings include a loan of £75,000 from its parent company Bestex Research Group LLC. This amount is unsecured, interest free and repayable on demand. |
|
The company has taken advantage of the exemption from disclosing transactions with members within a wholly owned group. |
|
| 7 |
Controlling party |
|
|
At the year end, the company's immediate controlling party was Bestex Research Group LLC, a company incorporated in the USA. The ultimate controlling party is considered to be Mr Hitesh Mittal by virtue of his shareholding in Bestex Research Group LLC. |
|
|
| 8 |
Other information |
|
|
Bestex Research Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
60 Cannon Street |
|
London |
|
United Kingdom |
|
EC4N 6NP |