IRIS Accounts Production v24.1.0.578 07565535 director 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075655352023-03-31075655352024-03-31075655352023-04-012024-03-31075655352022-03-31075655352022-04-012023-03-31075655352023-03-3107565535ns15:EnglandWales2023-04-012024-03-3107565535ns14:PoundSterling2023-04-012024-03-3107565535ns10:Director12023-04-012024-03-3107565535ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107565535ns10:SmallEntities2023-04-012024-03-3107565535ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107565535ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107565535ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107565535ns10:FullAccounts2023-04-012024-03-310756553512023-04-012024-03-3107565535ns10:OrdinaryShareClass12023-04-012024-03-3107565535ns10:RegisteredOffice2023-04-012024-03-3107565535ns5:CurrentFinancialInstruments2024-03-3107565535ns5:CurrentFinancialInstruments2023-03-3107565535ns5:Non-currentFinancialInstruments2024-03-3107565535ns5:Non-currentFinancialInstruments2023-03-3107565535ns5:ShareCapital2024-03-3107565535ns5:ShareCapital2023-03-3107565535ns5:RetainedEarningsAccumulatedLosses2024-03-3107565535ns5:RetainedEarningsAccumulatedLosses2023-03-3107565535ns5:NetGoodwill2023-04-012024-03-3107565535ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107565535ns5:NetGoodwill2023-03-3107565535ns5:NetGoodwill2024-03-3107565535ns5:NetGoodwill2023-03-3107565535ns5:LeaseholdImprovements2023-03-3107565535ns5:FurnitureFittings2023-03-3107565535ns5:MotorVehicles2023-03-3107565535ns5:ComputerEquipment2023-03-3107565535ns5:LeaseholdImprovements2023-04-012024-03-3107565535ns5:FurnitureFittings2023-04-012024-03-3107565535ns5:MotorVehicles2023-04-012024-03-3107565535ns5:ComputerEquipment2023-04-012024-03-3107565535ns5:LeaseholdImprovements2024-03-3107565535ns5:FurnitureFittings2024-03-3107565535ns5:MotorVehicles2024-03-3107565535ns5:ComputerEquipment2024-03-3107565535ns5:LeaseholdImprovements2023-03-3107565535ns5:FurnitureFittings2023-03-3107565535ns5:MotorVehicles2023-03-3107565535ns5:ComputerEquipment2023-03-3107565535ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107565535ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107565535ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107565535ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107565535ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3107565535ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3107565535ns5:HirePurchaseContracts2024-03-3107565535ns5:HirePurchaseContracts2023-03-3107565535ns5:WithinOneYear2024-03-3107565535ns5:WithinOneYear2023-03-3107565535ns5:BetweenOneFiveYears2024-03-3107565535ns5:BetweenOneFiveYears2023-03-3107565535ns5:MoreThanFiveYears2024-03-3107565535ns5:MoreThanFiveYears2023-03-3107565535ns5:AllPeriods2024-03-3107565535ns5:AllPeriods2023-03-3107565535ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 07565535 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

RICHARD SMITH BESPOKE LIMITED

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD SMITH BESPOKE LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2024







DIRECTOR: R J Smith





REGISTERED OFFICE: Xeinadin Manchester
100 Barbirolli Square
Manchester
United Kingdom
M2 3BD





REGISTERED NUMBER: 07565535 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

BALANCE SHEET
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 85,699 75,032
85,699 75,032

CURRENT ASSETS
Stocks 171,042 164,549
Debtors 6 10,741 15,556
Cash at bank and in hand 4,784 244
186,567 180,349
CREDITORS
Amounts falling due within one year 7 (186,409 ) (157,995 )
NET CURRENT ASSETS 158 22,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,857

97,386

CREDITORS
Amounts falling due after more than one year 8 (72,628 ) (81,987 )

PROVISIONS FOR LIABILITIES (1,945 ) (1,918 )
NET ASSETS 11,284 13,481

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11,283 13,480
SHAREHOLDERS' FUNDS 11,284 13,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

BALANCE SHEET - continued
31st March 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th July 2024 and were signed by:





R J Smith - Director


RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Richard Smith Bespoke Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07565535. The address of the registered office is Xeinadin Manchester, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD and the principal place of business is 205 Ashley Road,Hale,WA15 9SQ.

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 consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Turnover principally consists of the design and sale of bespoke garments.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, has been fully written off.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings-18% on reducing balance
Computer equipment-18% on reducing balance
Motor vehicles-20% on reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs are based on the method most appropriate to the type of inventory class, usually on a first-in-first-out basis. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of these stocks are recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down in stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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 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 is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects 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 the profit and loss, except where they relate 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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 10,000
AMORTISATION
At 1st April 2023
and 31st March 2024 10,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 86,615 33,611 26,410 6,133 152,769
Additions 4,877 - 35,555 - 40,432
Disposals - - (26,410 ) - (26,410 )
At 31st March 2024 91,492 33,611 35,555 6,133 166,791
DEPRECIATION
At 1st April 2023 41,189 18,923 12,888 4,737 77,737
Charge for year 8,606 2,644 4,741 252 16,243
Eliminated on disposal - - (12,888 ) - (12,888 )
At 31st March 2024 49,795 21,567 4,741 4,989 81,092
NET BOOK VALUE
At 31st March 2024 41,697 12,044 30,814 1,144 85,699
At 31st March 2023 45,426 14,688 13,522 1,396 75,032

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,638 6,911
Other debtors 3,103 8,645
10,741 15,556

RICHARD SMITH BESPOKE LIMITED (REGISTERED NUMBER: 07565535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,218 32,844
Hire purchase contracts (see note 9) 3,774 3,996
Trade creditors 65,169 46,796
Taxation and social security 9,772 18,175
Other creditors 68,476 56,184
186,409 157,995

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 46,667 69,163
Hire purchase contracts (see note 9) 25,961 12,824
72,628 81,987

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,774 3,996
Between one and five years 25,961 12,824
29,735 16,820

Non-cancellable operating leases
2024 2023
£    £   
Within one year 29,232 23,950
Between one and five years 124,234 119,750
In more than five years - 5,988
153,466 149,688

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1