Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3182023-04-01falseKitchen Resellers8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10243567 2023-04-01 2024-03-31 10243567 2022-04-01 2023-03-31 10243567 2024-03-31 10243567 2023-03-31 10243567 c:Director1 2023-04-01 2024-03-31 10243567 d:MotorVehicles 2023-04-01 2024-03-31 10243567 d:MotorVehicles 2024-03-31 10243567 d:MotorVehicles 2023-03-31 10243567 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10243567 d:FurnitureFittings 2023-04-01 2024-03-31 10243567 d:FurnitureFittings 2024-03-31 10243567 d:FurnitureFittings 2023-03-31 10243567 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10243567 d:OfficeEquipment 2023-04-01 2024-03-31 10243567 d:OfficeEquipment 2024-03-31 10243567 d:OfficeEquipment 2023-03-31 10243567 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10243567 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10243567 d:Goodwill 2024-03-31 10243567 d:Goodwill 2023-03-31 10243567 d:CurrentFinancialInstruments 2024-03-31 10243567 d:CurrentFinancialInstruments 2023-03-31 10243567 d:Non-currentFinancialInstruments 2024-03-31 10243567 d:Non-currentFinancialInstruments 2023-03-31 10243567 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10243567 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10243567 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10243567 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10243567 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10243567 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10243567 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10243567 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10243567 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 10243567 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10243567 d:ShareCapital 2024-03-31 10243567 d:ShareCapital 2023-03-31 10243567 d:RetainedEarningsAccumulatedLosses 2024-03-31 10243567 d:RetainedEarningsAccumulatedLosses 2023-03-31 10243567 c:FRS102 2023-04-01 2024-03-31 10243567 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10243567 c:FullAccounts 2023-04-01 2024-03-31 10243567 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10243567 d:WithinOneYear 2024-03-31 10243567 d:WithinOneYear 2023-03-31 10243567 d:BetweenOneFiveYears 2024-03-31 10243567 d:BetweenOneFiveYears 2023-03-31 10243567 2 2023-04-01 2024-03-31 10243567 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10243567









READ BESPOKE INTERIORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
READ BESPOKE INTERIORS LIMITED
REGISTERED NUMBER: 10243567

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
29,269
46,684

  
29,269
46,684

Current assets
  

Stocks
  
110,000
140,000

Debtors: amounts falling due within one year
 7 
54,308
48,430

Cash at bank and in hand
  
13,941
11,983

  
178,249
200,413

Creditors: amounts falling due within one year
 8 
(236,210)
(125,357)

Net current (liabilities)/assets
  
 
 
(57,961)
 
 
75,056

Total assets less current liabilities
  
(28,692)
121,740

Creditors: amounts falling due after more than one year
 9 
(55,164)
(120,592)

  

Net (liabilities)/assets
  
(83,856)
1,148


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(83,866)
1,138

  
(83,856)
1,148


Page 1

 
READ BESPOKE INTERIORS LIMITED
REGISTERED NUMBER: 10243567
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 on 28 March 2025.




W Read
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Read Bespoke Interiors Limited is a private limited liability company with share capital incorporated in England and Wales under company number 10243567 with its registered office at Basepoint, 110 Butterfield, Great Marlings, Luton, Bedfordshire LU2 8DL.
The company's functional and presentational currency is £ Sterling and the figures have all been rounded to the nearest £. 

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 accounts have been prepared on the going concern basis which assumes that the company will
continue in the future.
The balance sheet shows an insolvent position as at 31 March 2024 with net liabilities of £83,856 (2023: £1,148 - net assets). This position may indicate that the company is unable to pay its liabilities as and when they fall due.
The main liability of the company is monies owed to the company's suppliers. The largest supplier balance is for the franchisor whom Read Bespoke Limited purchase all there kitchens and raw materials from.  
As a result the director feels it is appropriate to prepare the accounts 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight line
Fixtures and fittings
-
20%
Straight line
Office equipment
-
33%
Straight line

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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

Page 5

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 6

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.


4.


Employees

2024
2023
£
£

Wages and salaries
155,223
179,230

Social security costs
8,205
8,725

Cost of defined contribution scheme
2,637
3,232

166,065
191,187


The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 7

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
20,000



At 31 March 2024

20,000



Amortisation


At 1 April 2023
20,000



At 31 March 2024

20,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 8

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
25,361
45,590
25,398
96,349



At 31 March 2024

25,361
45,590
25,398
96,349



Depreciation


At 1 April 2023
16,144
15,181
18,339
49,664


Charge for the year on owned assets
4,471
7,518
5,427
17,416



At 31 March 2024

20,615
22,699
23,766
67,080



Net book value



At 31 March 2024
4,746
22,891
1,632
29,269



At 31 March 2023
9,216
30,409
7,059
46,684


7.


Debtors

2024
2023
£
£


Other debtors
46,356
44,520

Prepayments and accrued income
7,952
3,910

54,308
48,430


Page 9

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
64,187
58,140

Payments received on account
1,830
2,251

Trade creditors
67,083
9,998

Corporation tax
11,661
9,294

Other taxation and social security
55,265
25,697

Other creditors
19,381
9,316

Accruals and deferred income
16,803
10,661

236,210
125,357



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
55,164
120,592



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
64,187
58,140

Amounts falling due 1-2 years

Bank loans
26,785
63,653

Amounts falling due 2-5 years

Bank loans
18,244
43,869

Amounts falling due after more than 5 years

Bank loans
10,135
13,070

119,351
178,732


Page 10

 
READ BESPOKE INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Pension commitments

In line with auto-enrolment the company pays into employees pension schemes. The assets of the scheme are held seperately from those of the company in independently administered funds. The pension charge represents contributions payable by the company to the fund and amounted to £2,637 (2023: £3,233). There were contributions totalling £235 outstanding at 31 March 2024 (2023: £353).


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
9,172
9,172

Later than 1 year and not later than 5 years
21,402
29,809

30,574
38,981


13.


Transactions with directors

At the start of the period the director owed £19,867 to the company. During the year the company made advances to the director totalling £850. At the year end date the director owes the company £21,240. Interest has been charged at HMRC's official rate for the year totalling £523. 

 
Page 11