Best Estates Estate Agents Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08886518 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

Best Estates Estate Agents Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Tarry

Mrs N G Tarry

Mr M Piercy

REGISTERED OFFICE:

Lime Tree Farm

Badingham

Woodbridge

Suffolk

IP13 8LU

REGISTERED NUMBER:

08886518 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Tangible assets

4

23,413

30,372

CURRENT ASSETS

Debtors

5

(795

)

15,788

Cash at bank and in hand

11,683

6,183

10,888

21,971

CREDITORS

Amounts falling due within one year

6

359,411

199,669

NET CURRENT LIABILITIES

(348,523

)

(177,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(325,110

)

(147,326

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(325,112

)

(147,328

)

SHAREHOLDERS' FUNDS

(325,110

)

(147,326

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 26 June 2018 and were signed on its behalf by:

Mr A Tarry - Director

Mrs N G Tarry - Director

1.	STATUTORY INFORMATION

Best Estates Estate Agents Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the 28 February 2018 the Company was insolvent. The financial statements however have been

prepared on a going concern basis. In meeting the Company's working capital requirements the

directors have agreed to continue to support the Company for the next 12 months. On the basis that

the directors consider, with their support, it appropriate to prepare the financial statements on a going

concern basis, the financial statements do not contain any adjustments that would result from the

withdrawal of their support.

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.

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

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 8 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

COST

At 1 March 2017

21,720

30,293

52,013

Additions

-

846

846

At 28 February 2018

21,720

31,139

52,859

DEPRECIATION

At 1 March 2017

7,778

13,863

21,641

Charge for year

3,486

4,319

7,805

At 28 February 2018

11,264

18,182

29,446

NET BOOK VALUE

At 28 February 2018

10,456

12,957

23,413

At 28 February 2017

13,942

16,430

30,372

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

(795

)

15,788

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

9,409

13,110

VAT

1,163

15,720

Best of Suffolk Limited

348,839

170,839

359,411

199,669