Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-293trueTextile Trading2023-03-01false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07163992 2023-03-01 2024-02-29 07163992 2022-03-01 2023-02-28 07163992 2024-02-29 07163992 2023-02-28 07163992 c:Director1 2023-03-01 2024-02-29 07163992 d:FurnitureFittings 2023-03-01 2024-02-29 07163992 d:FurnitureFittings 2024-02-29 07163992 d:FurnitureFittings 2023-02-28 07163992 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07163992 d:ComputerEquipment 2023-03-01 2024-02-29 07163992 d:ComputerEquipment 2024-02-29 07163992 d:ComputerEquipment 2023-02-28 07163992 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07163992 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07163992 d:CurrentFinancialInstruments 2024-02-29 07163992 d:CurrentFinancialInstruments 2023-02-28 07163992 d:Non-currentFinancialInstruments 2024-02-29 07163992 d:Non-currentFinancialInstruments 2023-02-28 07163992 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07163992 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07163992 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 07163992 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07163992 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 07163992 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 07163992 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 07163992 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 07163992 d:ShareCapital 2024-02-29 07163992 d:ShareCapital 2023-02-28 07163992 d:RetainedEarningsAccumulatedLosses 2024-02-29 07163992 d:RetainedEarningsAccumulatedLosses 2023-02-28 07163992 c:FRS102 2023-03-01 2024-02-29 07163992 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07163992 c:FullAccounts 2023-03-01 2024-02-29 07163992 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07163992 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 07163992









BULKSUDDEN TRADING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BULKSUDDEN TRADING LIMITED
REGISTERED NUMBER: 07163992

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,576
2,101

  
1,576
2,101

Current assets
  

Debtors: amounts falling due within one year
 5 
1,715,057
1,215,521

Cash at bank and in hand
 6 
114,156
712,040

  
1,829,213
1,927,561

Creditors: amounts falling due within one year
 7 
(97,246)
(229,943)

Net current assets
  
 
 
1,731,967
 
 
1,697,618

Total assets less current liabilities
  
1,733,543
1,699,719

Creditors: amounts falling due after more than one year
 8 
(20,058)
(29,344)

  

Net assets
  
1,713,485
1,670,375


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
1,713,386
1,670,276

  
1,713,485
1,670,375


Page 1

 
BULKSUDDEN TRADING LIMITED
REGISTERED NUMBER: 07163992
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Arnold
Director

Date: 28 December 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Bulksudden Trading Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number 07163992). The company's registered office address is 101 New Cavendish Street, London, 1st Floor South, W1W 6XH. 
The principal activity of the company continues to be that of textile trading.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis.
Given that the Company is in a net surplus position the directors consider that the company can operate viably and meet its obligations as they fall due for a period of 12 months from the date of this report. We therefore consider it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance method
Computer equipment
-
25%
reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets







Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
23,509
9,210
32,719



At 29 February 2024

23,509
9,210
32,719



Depreciation


At 1 March 2023
22,256
8,362
30,618


Charge for the year on owned assets
313
212
525



At 29 February 2024

22,569
8,574
31,143



Net book value



At 29 February 2024
940
636
1,576



At 28 February 2023
1,253
848
2,101

Page 6

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
1,715,057
1,215,521

1,715,057
1,215,521



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
114,156
712,040

114,156
712,040



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
14,000
14,000

Corporation tax
13,680
54,624

Other taxation and social security
312
153,144

Other creditors
63,179
22

Accruals and deferred income
6,075
8,153

97,246
229,943



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
20,058
29,344

20,058
29,344


Page 7

 
BULKSUDDEN TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
14,000
14,000


14,000
14,000

Amounts falling due 1-2 years

Bank loans
14,000
14,000


14,000
14,000

Amounts falling due 2-5 years

Bank loans
6,058
15,344


6,058
15,344


34,058
43,344



10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £113 (2023 - £6,934). Contributions totalling £22 (2023 - £22) were payable to the fund at the balance sheet date and are included in creditors.


11.


Controlling party

The immediate controlling party is Bulksudden UK Limited.
There is no single ultimate controlling party.

 
Page 8