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BESPOKE COUTURE LIMITED

Registered Number
03498839
(England and Wales)

Unaudited Financial Statements for the Year ended
25 September 2023

BESPOKE COUTURE LIMITED
Company Information
for the year from 26 September 2022 to 25 September 2023

Director

BOATENG, Ozwald, Dr

Registered Address

30 Savile Row
London
W1S 3PT

Registered Number

03498839 (England and Wales)
BESPOKE COUTURE LIMITED
Balance Sheet as at
25 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets38,71510,893
8,71510,893
Current assets
Debtors1,634,0511,672,270
Cash at bank and on hand105,114139,869
1,739,1651,812,139
Creditors amounts falling due within one year(1,638,145)(1,784,463)
Net current assets (liabilities)101,02027,676
Total assets less current liabilities109,73538,569
Creditors amounts falling due after one year(39,638)(39,638)
Net assets70,097(1,069)
Capital and reserves
Profit and loss account70,097(1,069)
Shareholders' funds70,097(1,069)
The financial statements were approved and authorised for issue by the Director on 19 February 2025, and are signed on its behalf by:
BOATENG, Ozwald, Dr
Director
Registered Company No. 03498839
BESPOKE COUTURE LIMITED
Notes to the Financial Statements
for the year ended 25 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents amounts receivable for goods and services net of VAT. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings20
Office Equipment20
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified. Included within debtors at 25th September 2023 is a loan of £ 291,429.28 (2021: £451,501.06) owing from OBBCL Limited, a company controlled by the director.
2.Average number of employees

20232022
Average number of employees during the year108
3.Tangible fixed assets

Total

£
Cost or valuation
At 26 September 22551,154
At 25 September 23551,154
Depreciation and impairment
At 26 September 22540,261
Charge for year2,178
At 25 September 23542,439
Net book value
At 25 September 238,715
At 25 September 2210,893
4.Impairment of tangible fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
5.Provisions for liabilities
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
6.Financial instruments
Financial assets and liabilities are recognised when the entity enters into the contract. Basic instruments are initially measured at transaction price and amortised cost. Publicly traded or reliably measurable investments are measured at fair value through profit or loss, others at cost less impairment. Assets at cost or amortised cost are reviewed for impairment, with losses recognised immediately. Equity instruments and significant assets are individually assessed for impairment.
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BOATENG, Ozwald, Dr627,019105,7800732,799
627,019105,7800732,799
An interest charge of £15,702.77 has been applied to the advances made to the director. Additionally, the company’s debtors at the end of the period include £732,799 (2022: £627,019) owed by O Boateng, a director of the company.