Registered number
10620141
Bespoke Lifestyle Group Ltd
Report and Financial Statements
28 February 2023
Bespoke Lifestyle Group Ltd
Registered number: 10620141
Director's Report
The director presents his report and financial statements for the year ended 28 February 2023.
Principal activities
The company's principal activity during the period was that of the provision of lifestyle advisory services.
Directors
The following persons served as directors during the period :
Mr A Ayub
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 2 May 2024 and signed on its behalf.
Mr A Ayub
Director
Bespoke Lifestyle Group Ltd
Profit and Loss Account
for the year ended 28 February 2023
2023 2022
£ £
Turnover 4,475,287 3,152,635
Cost of sales (2,664,309) (1,586,811)
Gross profit 1,810,978 1,565,824
Administrative expenses (623,416) (370,336)
Operating profit 1,187,562 1,195,488
Interest receivable 31 24
Interest payable (435) (461)
Profit on ordinary activities before taxation 1,187,158 1,195,051
Tax on profit on ordinary activities (1,034) -
Profit for the financial period 1,186,124 1,195,051
Bespoke Lifestyle Group Ltd
Registered number: 10620141
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 2,288,883 1,207,167
Current assets
Debtors 4 54,705 42,176
Cash at bank and in hand 108,657 37,586
163,362 79,762
Creditors: amounts falling due within one year 5 (37,219) (36,313)
Net current assets 126,143 43,449
Total assets less current liabilities 2,415,026 1,250,616
Creditors: amounts falling due after more than one year 6 (46,531) (68,245)
Net assets 2,368,495 1,182,371
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,368,494 1,182,370
Shareholder's funds 2,368,495 1,182,371
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Ayub
Director
Approved by the board on 2 May 2024
Bespoke Lifestyle Group Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 4
3 Tangible fixed assets
Plant and Machinery Total
£ £
Cost
At 1 March 2022 1,425,722 1,425,722
Additions 1,485,637 1,485,637
At 28 February 2023 2,911,359 2,911,359
Depreciation
At 1 March 2022 218,555 218,555
Charge for the year 403,921 403,921
At 28 February 2023 622,476 622,476
Net book value
At 28 February 2023 2,288,883 2,288,883
At 28 February 2022 1,207,167 1,207,167
4 Debtors 2023 2022
£ £
Trade debtors 51,748 38,647
Other debtors 2,957 3,529
54,705 42,176
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 13,521 21,528
Other taxes and social security costs 10,478 4,123
Other creditors 7,186 5,662
37,219 36,313
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,401 41,253
Other creditors 10,130 26,992
46,531 68,245
7 Other information
Bespoke Lifestyle Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23-27 King Street
Luton
Bedfordshire
LU1 2DW
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