Best Intercontinental Trade Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06713808 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

Best Intercontinental Trade Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr L Gallucci

SECRETARY:

REGISTERED OFFICE:

1st Floor, 21-22 Grosvenor Street

London

W1K 4QJ

REGISTERED NUMBER:

06713808 (England and Wales)

ACCOUNTANTS:

London Corporate Management Ltd.

Linen Hall

162-168 Regent Street

Room 252-254

London

W1B 5TB

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

118,612

122,685

118,612

122,685

CURRENT ASSETS

Stocks

6

-

106

Debtors

7

77,881

147,305

Investments

8

11,634

11,634

Cash at bank

103,315

21,597

192,830

180,642

CREDITORS

Amounts falling due within one year

9

24,791

30,184

NET CURRENT ASSETS

168,039

150,458

TOTAL ASSETS LESS CURRENT LIABILITIES

286,651

273,143

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

286,551

273,043

SHAREHOLDERS' FUNDS

286,651

273,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 16 June 2023 and were signed by:

Mr L Gallucci - Director

1.	STATUTORY INFORMATION

Best Intercontinental Trade 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 each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2021

and 30 September 2022

1,522

DEPRECIATION

At 1 October 2021

and 30 September 2022

1,522

NET BOOK VALUE

At 30 September 2022

-

At 30 September 2021

-

5.	FIXED ASSET INVESTMENTS

30.9.22

30.9.21

£

£

Participating interests

13,487

13,487

Other loans

137,833

141,906

Own shares

(32,708

)

(32,708

)

118,612

122,685

Additional information is as follows:

Interest

in

Own

associate

shares

Totals

£

£

£

COST

At 1 October 2021

and 30 September 2022

13,487

(32,708

)

(19,221

)

NET BOOK VALUE

At 30 September 2022

13,487

(32,708

)

(19,221

)

At 30 September 2021

13,487

(32,708

)

(19,221

)

Other

loans

£

At 1 October 2021

141,906

Repayment in year

(4,073

)

At 30 September 2022

137,833

6.

STOCKS

30.9.22

30.9.21

£

£

Stocks

-

106

7.

DEBTORS

30.9.22

30.9.21

£

£

Amounts falling due within one year:

Amounts owed by participating interests

17,350

86,775

VAT

332

331

17,682

87,106

30.9.22

30.9.21

£

£

Amounts falling due after more than one year:

Other debtors

60,199

60,199

Aggregate amounts

77,881

147,305

8.	CURRENT ASSET INVESTMENTS

30.9.22

30.9.21

£

£

Current Asset Investments

11,634

11,634

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Other loans

23,591

28,292

Trade Creditors

-

692

Accrued expenses

1,200

1,200

24,791

30,184

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

100

Ordinary

£ 1

100

100

11.

RESERVES

Retained

earnings

£

At 1 October 2021

273,043

Profit for the year

13,508

At 30 September 2022

286,551