Accounts


	BEST IMPORTS LIMITED


	ABBREVIATED UNAUDITED ACCOUNTS


	FOR THE YEAR ENDED 31 OCTOBER 2015
























	INDEX TO THE ACCOUNTS



	Pages

	1	Abbreviated Balance Sheet

	2-4	Notes to the Abbreviated Accounts

BEST IMPORTS LIMITED
Company registered number: 02659167
ABBREVIATED BALANCE SHEET
AT 31 October 2015

	Note		2015	2014
		£	£	£
FIXED ASSETS
Tangible Assets	2		1,007,643	1,018,440
Investments	3		1,000	1,000
			1,008,643	1,019,440

CURRENT ASSETS
Stock	1d	344,781		579,563
Debtors falling due within one year		1,976,599		1,557,105
Investments	4	15,000		15,000
Cash at bank and in hand		306,834		272,880
		2,643,214		2,424,548
CREDITORS: Amounts falling due within one year		1,737,877		1,739,604
NET CURRENT ASSETS			905,337	684,944
NET ASSETS			£1,913,980	£1,704,384

CAPITAL AND RESERVES
Called up share capital	6		2	2
Profit and loss account			1,913,978	1,704,382
SHAREHOLDERS' FUNDS			£1,913,980	£1,704,384


	In approving these financial statements as directors of the company we hereby confirm the following:
	For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

	Directors' responsibilities:
	1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476,
	2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

	The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

	These abbreviated accounts were approved by the board of directors on 23 February 2016



	G Alfano, Director


	The notes on pages 2 to 4 form part of these accounts
	page 1

	NOTES TO THE ABBREVIATED ACCOUNTS
	FOR THE YEAR ENDED 31 OCTOBER 2015



1a.	Basis of accounting

	The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).



1b.	Tangible fixed assets

	Land and building are shown at original historical cost or subsequent valuation as set out in the note. Other fixed assets are shown at cost.

	Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
	Plant and machinery	Reducing balance 25%
	Vehicles	Reducing balance 25%
	Fixtures and fittings	Reducing balance 25%
	Equipment	Reducing balance 25%



1c.	Investments

	Fixed asset investments are shown at cost less amounts written off. Provisions are made for temporary fluctuations in value.



1d.	Stocks

	Stocks are stated at the lower of cost and net realisable value. Cost incurred in bringing each product to its present location and condition is based on purchase cost on a first-in, first-out basis, including transport.



1e.	Taxation

	Corporation tax payable is provided on taxable profits at the current rate.



1f.	Pensions

	The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in the year.



1g.	Foreign currency

	Transactions denominated in foreign currencies are recorded in the local currency at actual exchange rates as of the date of the transaction.



1h.	Turnover

	Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business.

	page 2

	BEST IMPORTS LIMITED
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 OCTOBER 2015



1i.	Leasing and hire purchase contracts

	Assets obtained under finance leases and hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

	Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

	page 3

	BEST IMPORTS LIMITED
	NOTES TO THE ABBREVIATED ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 31 OCTOBER 2015



4.	CURRENT ASSET INVESTMENTS	2015	2014
		£	£
	Unlisted investments-Coeptus Ltd	15,000	15,000
		£15,000	£15,000

5.	CREDITORS
		2015	2014
		£	£
	Creditors include the following amounts of secured liabilities:
	Due within one year	7,813	18,058

6.	SHARE CAPITAL	2015	2014
		£	£
	Allotted, issued and fully paid:
	2 Ordinary shares of £1 each	£2	£2



7.	ULTIMATE PARENT COMPANY

	The company is a subsidiary undertaking of ... incorporated in ... registered in England and Wales.



8.	RELATED PARTIES

	Directors' loans (eg debtors)
	Directors' material interests (eg tranactions with directors)
	Controlling parties.

page 4