Registration number:
Custom Idea Ltd
for the Year Ended 5 April 2025
Custom Idea Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Custom Idea Ltd
Company Information
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Director |
Dr R Wilcock |
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Company secretary |
N L Wilcock |
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Registered office |
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Accountants |
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Custom Idea Ltd
(Registration number: 05670744)
Balance Sheet
5 April 2025
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2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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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
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Custom Idea Ltd
Notes to the Unaudited Financial Statements
Year Ended 5 April 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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:
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Asset class |
Depreciation method and rate |
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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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Custom Idea Ltd
Notes to the Unaudited Financial Statements
Year Ended 5 April 2025
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Tangible assets |
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Office equipment |
Total |
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Cost or valuation |
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At 6 April 2024 |
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At 5 April 2025 |
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Depreciation |
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At 6 April 2024 |
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Charge for the year |
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At 5 April 2025 |
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Carrying amount |
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At 5 April 2025 |
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At 5 April 2024 |
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Debtors |
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2025 |
2024 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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