Registered number
11050540
Lowe & Bespoke Ltd
Filleted Accounts
30 November 2024
Lowe & Bespoke Ltd
Registered number: 11050540
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,700 3,600
Tangible assets 4 75,607 56,723
78,307 60,323
Current assets
Debtors 5 57,400 3,130
Cash at bank and in hand 61,126 124,621
118,526 127,751
Creditors: amounts falling due within one year 6 (11,210) (18,309)
Net current assets 107,316 109,442
Net assets 185,623 169,765
Capital and reserves
Called up share capital 100 100
Profit and loss account 185,523 169,665
Shareholders' funds 185,623 169,765
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Lee Andrews
Director
Approved by the board on 11 February 2025
Lowe & Bespoke Ltd
Notes to the Accounts
for the year ended 30 November 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 5 years
Motor vehicles Reducing balance 20%
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 9,000
At 30 November 2024 9,000
Amortisation
At 1 December 2023 5,400
Provided during the year 900
At 30 November 2024 6,300
Net book value
At 30 November 2024 2,700
At 30 November 2023 3,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 3,755 72,747 40,528 117,030
Additions - 33,324 15,489 48,813
Disposals - (14,070) (20,778) (34,848)
At 30 November 2024 3,755 92,001 35,239 130,995
Depreciation
At 1 December 2023 - 43,059 17,248 60,307
Charge for the year - 15,668 6,637 22,305
On disposals - (12,514) (14,710) (27,224)
At 30 November 2024 - 46,213 9,175 55,388
Net book value
At 30 November 2024 3,755 45,788 26,064 75,607
At 30 November 2023 3,755 29,688 23,280 56,723
5 Debtors 2024 2023
£ £
Trade debtors 54,500 -
Other debtors 2,900 3,130
57,400 3,130
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - (1,178)
Taxation and social security costs 3,061 14,799
Other creditors 8,149 4,688
11,210 18,309
7 Other information
Lowe & Bespoke Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, East Town Park
Mill Street
Crediton
Devon
EX17 1EY
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