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REGISTERED NUMBER: 07009918 (England and Wales)














BESPOKE MOTORSPORT RADIATORS LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2022






BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Contents of the Financial Statements
for the Year Ended 31 March 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


BESPOKE MOTORSPORT RADIATORS LIMITED

Company Information
for the Year Ended 31 March 2022







Directors: Mr W P Howkins
Mr D A Sharpe





Secretary: Mrs U A Jackson





Registered office: Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF





Registered number: 07009918 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,153 21,081

CURRENT ASSETS
Stocks 180,737 150,811
Debtors 5 44,775 84,391
Cash at bank and in hand 25,041 13,589
250,553 248,791
CREDITORS
Amounts falling due within one year 6 124,056 147,560
NET CURRENT ASSETS 126,497 101,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,650

122,312

CREDITORS
Amounts falling due after more than
one year

7

(34,658

)

(17,250

)

PROVISIONS FOR LIABILITIES (8,071 ) (4,005 )
NET ASSETS 160,921 101,057

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 160,821 100,957
SHAREHOLDERS' FUNDS 160,921 101,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:





Mr W P Howkins - Director


BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Notes to the Financial Statements
for the Year Ended 31 March 2022


1. STATUTORY INFORMATION

Bespoke Motorsport Radiators 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 15% on 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 Statement of Income and Retained Earnings, 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.

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 9 ) .

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 April 2021 48,141
Additions 69,525
At 31 March 2022 117,666
Depreciation
At 1 April 2021 27,060
Charge for year 13,453
At 31 March 2022 40,513
Net book value
At 31 March 2022 77,153
At 31 March 2021 21,081

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
Cost
At 1 April 2021
and 31 March 2022 18,810
Depreciation
At 1 April 2021 10,310
Charge for year 3,762
At 31 March 2022 14,072
Net book value
At 31 March 2022 4,738
At 31 March 2021 8,500

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 28,042 34,693
Other debtors 16,733 49,698
44,775 84,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 17,143 3,482
Hire purchase contracts 732 4,069
Trade creditors 64,275 63,488
Taxation and social security 35,315 10,874
Other creditors 6,591 65,647
124,056 147,560

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 34,658 16,518
Hire purchase contracts - 732
34,658 17,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 354 354

8. SECURED DEBTS

The debenture contains fixed and floating charges which covers all the property or undertaking of the company.

BESPOKE MOTORSPORT RADIATORS LIMITED (REGISTERED NUMBER: 07009918)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr W P Howkins
Balance outstanding at start of year 13,330 27,613
Amounts repaid - (14,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 13,330

Mr D A Sharpe
Balance outstanding at start of year (2,360 ) (865 )
Amounts repaid - (1,495 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (2,360 )