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Registration number: 05670744

Custom Idea Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 5 April 2025

 

Custom Idea Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Custom Idea Ltd

Company Information

Director

Dr R Wilcock

Company secretary

N L Wilcock

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Custom Idea Ltd

(Registration number: 05670744)
Balance Sheet
5 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

951

1,272

Current assets

 

Stocks

28

345

Debtors

5

23

18

Cash at bank and in hand

 

5,288

6,523

 

5,339

6,886

Creditors: Amounts falling due within one year

6

(4,226)

(3,895)

Net current assets

 

1,113

2,991

Net assets

 

2,064

4,263

Capital and reserves

 

Called up share capital

10

10

Retained earnings

2,054

4,253

Shareholders' funds

 

2,064

4,263

 

Custom Idea Ltd

(Registration number: 05670744)
Balance Sheet
5 April 2025

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 July 2025
 

.........................................
Dr R Wilcock
Director

 

Custom Idea Ltd

Notes to the Unaudited Financial Statements
Year Ended 5 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the director on 9 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis due to the ongoing support of the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax,

Tax

The tax expense for the period comprises tax and is recognised in profit or loss.

 

Custom Idea Ltd

Notes to the Unaudited Financial Statements
Year Ended 5 April 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

Custom Idea Ltd

Notes to the Unaudited Financial Statements
Year Ended 5 April 2025

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 6 April 2024

5,899

5,899

At 5 April 2025

5,899

5,899

Depreciation

At 6 April 2024

4,627

4,627

Charge for the year

321

321

At 5 April 2025

4,948

4,948

Carrying amount

At 5 April 2025

951

951

At 5 April 2024

1,272

1,272

5

Debtors

2025
£

2024
£

Other debtors

23

18

23

18

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Accruals and deferred income

500

585

Other creditors

3,726

3,310

4,226

3,895