Registered number
SC595843
Bespoke Creation (Edinburgh) Ltd
Filleted Accounts
31 May 2024
Bespoke Creation (Edinburgh) Ltd
Registered number: SC595843
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 142,302 181,266
Current assets
Debtors 5 - 44,594
Cash at bank and in hand 43,271 99,071
43,271 143,665
Creditors: amounts falling due within one year 6 (62,739) (111,352)
Net current (liabilities)/assets (19,468) 32,313
Total assets less current liabilities 122,834 213,579
Creditors: amounts falling due after more than one year 7 (35,825) (51,043)
Net assets 87,009 162,536
Capital and reserves
Called up share capital 100 100
Profit and loss account 86,909 162,436
Shareholder's funds 87,009 162,536
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 B Y Cleeton
Director
Approved by the board on 20 February 2025
Bespoke Creation (Edinburgh) Ltd
Notes to the Accounts
for the year ended 31 May 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 20% reducing balance
Motor vehicles 20% reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 12,500
At 31 May 2024 12,500
Amortisation
At 1 June 2023 12,500
At 31 May 2024 12,500
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 48,212 215,807 264,019
Additions 8,513 - 8,513
Disposals - (11,902) (11,902)
At 31 May 2024 56,725 203,905 260,630
Depreciation
At 1 June 2023 19,971 62,782 82,753
Charge for the year 7,351 28,224 35,575
At 31 May 2024 27,322 91,006 118,328
Net book value
At 31 May 2024 29,403 112,899 142,302
At 31 May 2023 28,241 153,025 181,266
5 Debtors 2024 2023
£ £
Trade debtors - 44,594
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 19,523 23,536
Trade creditors 1,606 2,395
Taxation and social security costs 29,295 48,451
Other creditors 12,315 36,970
62,739 111,352
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 35,825 51,043
8 Controlling party
The company was under the control of the director throughout the current and previous years.
9 Other information
Bespoke Creation (Edinburgh) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
2 Anderson Place
Edinburgh
Scotland
EH6 5NP
Bespoke Creation (Edinburgh) Ltd SC595843 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr B Y Cleeton No description of principal activity SC595843 2022-06-01 2023-05-31 SC595843 core:WithinOneYear 2023-05-31 SC595843 core:AfterOneYear 2023-05-31 SC595843 core:ShareCapital 2023-05-31 SC595843 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC595843 2023-06-01 2024-05-31 SC595843 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC595843 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC595843 bus:Director40 2023-06-01 2024-05-31 SC595843 1 2023-06-01 2024-05-31 SC595843 2 2023-06-01 2024-05-31 SC595843 core:PlantMachinery 2023-06-01 2024-05-31 SC595843 core:Vehicles 2023-06-01 2024-05-31 SC595843 countries:England 2023-06-01 2024-05-31 SC595843 bus:FRS102 2023-06-01 2024-05-31 SC595843 bus:FilletedAccounts 2023-06-01 2024-05-31 SC595843 2024-05-31 SC595843 core:WithinOneYear 2024-05-31 SC595843 core:AfterOneYear 2024-05-31 SC595843 core:ShareCapital 2024-05-31 SC595843 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC595843 core:Goodwill 2024-05-31 SC595843 core:PlantMachinery 2024-05-31 SC595843 core:Vehicles 2024-05-31 SC595843 2023-05-31 SC595843 core:Goodwill 2023-05-31 SC595843 core:PlantMachinery 2023-05-31 SC595843 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure