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Registered number: 12970508
Bags Of Splendour Limited
Unaudited Financial Statements
For the Period 23 October 2020 to 31 October 2021
More Group (Accounting) Limited

Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Ms Marianne Joseph
Company Number 12970508
Registered Office 65 Compton Street
London
EC1V 0BN
Accountants More Group (Accounting) Limited
65 Compton Street
London
EC1V 0BN
Page 1
Page 2
Balance Sheet
Registered number: 12970508
31 October 2021
Notes £ £
FIXED ASSETS
Intangible Assets 5,246
5,246
CURRENT ASSETS
Debtors 3 5,152
Cash at bank and in hand 13,404
18,556
Creditors: Amounts Falling Due Within One Year 4 (15,820 )
NET CURRENT ASSETS (LIABILITIES) 2,736
TOTAL ASSETS LESS CURRENT LIABILITIES 7,982
NET ASSETS 7,982
CAPITAL AND RESERVES
Called up share capital 5 100
Profit and Loss Account 7,882
SHAREHOLDERS' FUNDS 7,982
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Page 3
For the period ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Marianne Joseph
Director
07/09/2022
The notes on pages 4 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
The fair values of financial instruments traded in active markets (such as exchange traded and over-the-counter
securities and derivatives) are based on quoted market prices at the balance sheet date. The quoted market prices
used for financial assets are the current bid prices; the appropriate quoted market prices for financial liabilities are
the current asking prices.

The fair values of financial instruments that are not traded in an active market are determined by using valuation
techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions
existing at each balance sheet date. Where appropriate, quoted market prices or dealer quotes for similar instruments
are used. Valuation techniques, such as discounted cash flow analyses, are also used to determine the fair values of
the financial instruments.

The fair values of currency forwards are determined using actively quoted forward exchange rates. The fair values
of interest rate swaps are calculated as the present value of the estimated future cash flows discounted at actively
quoted interest rates. The fair values of current financial assets and liabilities carried at amortised cost approximate
their carrying amounts.

1.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
1
3. Debtors
31 October 2021
£
Due within one year
Trade debtors 5,152
5,152
4. Creditors: Amounts Falling Due Within One Year
31 October 2021
£
Bank loans and overdrafts 8,695
Corporation tax 1,247
Accruals and deferred income 3,000
Director's loan account 2,878
15,820
5. Share Capital
31 October 2021
Allotted, Called up and fully paid 100
Value Number 31 October 2021
Allotted, called up and fully paid £ £
Ordinary Shares 1.00 100 100
6. General Information
Bags Of Splendour Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12970508 . The registered office is 65 Compton Street, London, EC1V 0BN.
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