Sunday Best 1 Limited - Filleted accounts

Registered number

04320476

Sunday Best 1 Limited

Unaudited Filleted Accounts

28 February 2025

Sunday Best 1 Limited
Registered number:		04320476
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		231,840			237,360
Tangible assets	4		4,676			5,978
			236,516			243,338

Current assets
Stocks		75,206			75,799
Debtors	5	1,059			5,362
Cash at bank and in hand		409,342			333,664
		485,607			414,825

Creditors: amounts falling due within one year	6	(148,754)			(130,106)

Net current assets			336,853			284,719

Total assets less current liabilities			573,369			528,057


Provisions for liabilities			(1,239)			(1,509)

Net assets			572,130			526,548

Capital and reserves
Called up share capital			2			2
Profit and loss account			572,128			526,546

Shareholders' funds			572,130			526,548

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 members have 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.


Mrs JS Shutt
Director
Approved by the board on 15 October 2025

Sunday Best 1 Limited
Notes to the Accounts
for the year ended 28 February 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).

	Turnover
	Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales / value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
	The director is of the opinion that the goodwill included in the accounts has a useful life of at least 50 years. The director carries out an impairment review annually to confirm the validity of this opinion.

	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:

	Fixtures, fittings and equipment			15% on written down value
	Office equipment			20% straight line
	Computer equipment			33.33% on written down value

	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.

	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					2025		2024
Number							Number

	Average number of persons employed by the company					9		10


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2024							276,000
	At 28 February 2025							276,000

	Amortisation
	At 1 March 2024							38,640
	Provided during the year							5,520
	At 28 February 2025							44,160

	Net book value
	At 28 February 2025							231,840
	At 29 February 2024							237,360


	Goodwill is being written off in equal annual instalments over its estimated economic life of 50 years.
4	Tangible fixed assets
		Fixtures, fittings & equipment		Office equipment		Computer equipment		Total
£			£		£		£
	Cost
	At 1 March 2024	41,526		4,362		4,494		50,382
	Disposals	-		(861)		-		(861)
	At 28 February 2025	41,526		3,501		4,494		49,521

	Depreciation
	At 1 March 2024	37,693		2,299		4,412		44,404
	Charge for the year	575		700		27		1,302
	On disposals	-		(861)		-		(861)
	At 28 February 2025	38,268		2,138		4,439		44,845

	Net book value
	At 28 February 2025	3,258		1,363		55		4,676
	At 29 February 2024	3,833		2,063		82		5,978


5	Debtors					2025		2024
£							£

	Other debtors					1,059		5,362


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					28,393		24,979
	Taxation and social security costs					40,253		26,055
	Other creditors					80,108		79,072
						148,754		130,106


7	Related party transactions

	The company is controlled by Mrs JS Shutt by virtue of her shareholding. The company trades from premises owned by Mrs Shutt. The company paid no rent during the period. The company also has a loan from Mrs Shutt. At 28 February 2025 the balance outstanding on this loan amounted to £42271 (2024: £50792).
	Dividends totalling £26000 (2024: £24000) were paid to the director, Mrs J Shutt during the year.

8	Other information

	Sunday Best 1 Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 16 Eastway Business Village
	Olivers Place
	Fulwood
	Preston
	PR2 9WT