Company Registration No. SC459500 (Scotland)
Bee Inspired Clothing Limited
Unaudited accounts
for the year ended 30 September 2024
Bee Inspired Clothing Limited
Unaudited accounts
Contents
Bee Inspired Clothing Limited
Company Information
for the year ended 30 September 2024
Directors
Steven Paul Robb
Mark Christian Corcoran
Company Number
SC459500 (Scotland)
Registered Office
McLellan Works
274 Sauchiehall Street
Glasgow
G2 3EH
Scotland
Accountants
Clarity Accounting (Scotland) Ltd
234 West George Street
Glasgow
G2 4QY
Bee Inspired Clothing Limited
Statement of financial position
as at 30 September 2024
Tangible assets
123,047
322,231
Inventories
647,227
1,112,569
Cash at bank and in hand
(10,295)
197,702
Creditors: amounts falling due within one year
(2,427,974)
(2,081,512)
Net current liabilities
(435,893)
(353,519)
Total assets less current liabilities
(312,846)
(31,288)
Creditors: amounts falling due after more than one year
(65,517)
(107,183)
Net liabilities
(378,363)
(138,471)
Called up share capital
100
100
Profit and loss account
(378,463)
(138,571)
Shareholders' funds
(378,363)
(138,471)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by
Steven Paul Robb
Director
Company Registration No. SC459500
Bee Inspired Clothing Limited
Notes to the Accounts
for the year ended 30 September 2024
Bee Inspired Clothing Limited is a private company, limited by shares, registered in Scotland, registration number SC459500. The registered office is McLellan Works, 274 Sauchiehall Street, Glasgow, G2 3EH, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Bee Inspired Clothing Limited
Notes to the Accounts
for the year ended 30 September 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Total
At 30 September 2024
490,646
Charge for the year
215,490
At 30 September 2024
367,599
At 30 September 2024
123,047
At 30 September 2023
322,231
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Average number of employees
During the year the average number of employees was 42 (2023: 24).