Best4 Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04224959 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Best4 Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

M P Hicks

REGISTERED OFFICE:

164 Sketchley Road

Burbage

Hinckley

Leicestershire

LE10 2EA

REGISTERED NUMBER:

04224959 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Tangible assets

4

67,824

85,033

CURRENT ASSETS

Stocks

392,500

177,577

Debtors

5

56,485

45,563

Cash at bank

224,579

335,759

673,564

558,899

CREDITORS

Amounts falling due within one year

6

106,566

103,431

NET CURRENT ASSETS

566,998

455,468

TOTAL ASSETS LESS CURRENT LIABILITIES

634,822

540,501

PROVISIONS FOR LIABILITIES

12,887

16,156

NET ASSETS

621,935

524,345

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

621,835

524,245

SHAREHOLDERS' FUNDS

621,935

524,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 June 2021 and were signed by:

M P Hicks - Director

1.	STATUTORY INFORMATION

Best4 Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Government grants

Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the company will comply with all attached conditions, where applicable.

Government grants are included in the 'other operating income' line item. There are no unfulfilled conditions or other contingencies attaching to these grants.

Government grants relating to costs are deferred, when applicable, and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2019 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2019

143,015

23,295

15,272

181,582

Additions

2,656

-

3,923

6,579

At 30 September 2020

145,671

23,295

19,195

188,161

DEPRECIATION

At 1 October 2019

86,427

2,718

7,404

96,549

Charge for year

14,964

4,115

4,709

23,788

At 30 September 2020

101,391

6,833

12,113

120,337

NET BOOK VALUE

At 30 September 2020

44,280

16,462

7,082

67,824

At 30 September 2019

56,588

20,577

7,868

85,033

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

11,493

769

Other debtors

44,992

44,794

56,485

45,563

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade creditors

29,104

15,427

Taxation and social security

50,459

64,363

Other creditors

27,003

23,641

106,566

103,431

7.	OTHER FINANCIAL COMMITMENTS

The company has other financial commitments totalling £8,000 (2019 - £20,000). These were in respect of operating leases.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

30.9.20

30.9.19

£

£

M P Hicks

Balance outstanding at start of year

786

-

Amounts advanced

2,474

786

Amounts repaid

(2,391

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

869

786

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Best4 Group Limited for the year ended 30 September 2020 which comprise the Income Statement, Balance Sheet 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Best4 Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Best4 Group Limited and state those matters that we have agreed to state to the director of Best4 Group Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Best4 Group Limited 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 Best4 Group Limited. You consider that Best4 Group Limited 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 Best4 Group Limited. 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.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

22 June 2021