Registered number
07098675
Your Bespoke Space Ltd
Unaudited Filleted Accounts
31 December 2024
Your Bespoke Space Ltd
Registered number: 07098675
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,000 5,000
Tangible assets 4 119,613 100,078
124,613 105,078
Current assets
Stocks 29,000 29,000
Debtors 5 15,359 13,646
Cash at bank and in hand 193,110 153,344
237,469 195,990
Creditors: amounts falling due within one year 6 (37,983) (29,574)
Net current assets 199,486 166,416
Net assets 324,099 271,494
Capital and reserves
Called up share capital 1 1
Profit and loss account 324,098 271,493
Shareholder's funds 324,099 271,494
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.
J P Gallagher
Director
Approved by the board on 14 June 2025
Your Bespoke Space Ltd
Notes to the Accounts
for the year ended 31 December 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 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 5,000
At 31 December 2024 5,000
Amortisation
At 31 December 2024 -
Net book value
At 31 December 2024 5,000
At 31 December 2023 5,000
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 January 2024 45,541 98,556 144,097
Additions - 33,646 33,646
At 31 December 2024 45,541 132,202 177,743
Depreciation
At 1 January 2024 20,393 23,626 44,019
Charge for the year 3,194 10,917 14,111
At 31 December 2024 23,587 34,543 58,130
Net book value
At 31 December 2024 21,954 97,659 119,613
At 31 December 2023 25,148 74,930 100,078
5 Debtors 2024 2023
£ £
Trade debtors 14,879 5,111
Other debtors 480 8,535
15,359 13,646
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,632 9,785
Taxation and social security costs 25,995 13,191
Other creditors 356 6,598
37,983 29,574
7 Controlling party
The ultimate controlling party was J P Gallagher who was also the shareholder throughout the year.
8 Other information
Your Bespoke Space Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Maypark
Preston
PR5 8JA
Your Bespoke Space Ltd 07098675 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 J P Gallagher No description of principal activity 07098675 2023-01-01 2023-12-31 07098675 core:WithinOneYear 2023-12-31 07098675 core:ShareCapital 2023-12-31 07098675 core:RetainedEarningsAccumulatedLosses 2023-12-31 07098675 2024-01-01 2024-12-31 07098675 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07098675 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07098675 bus:Director40 2024-01-01 2024-12-31 07098675 1 2024-01-01 2024-12-31 07098675 2 2024-01-01 2024-12-31 07098675 core:PlantMachinery 2024-01-01 2024-12-31 07098675 core:Vehicles 2024-01-01 2024-12-31 07098675 countries:England 2024-01-01 2024-12-31 07098675 bus:FRS102 2024-01-01 2024-12-31 07098675 bus:FilletedAccounts 2024-01-01 2024-12-31 07098675 2024-12-31 07098675 core:WithinOneYear 2024-12-31 07098675 core:ShareCapital 2024-12-31 07098675 core:RetainedEarningsAccumulatedLosses 2024-12-31 07098675 core:Goodwill 2024-12-31 07098675 core:PlantMachinery 2024-12-31 07098675 core:Vehicles 2024-12-31 07098675 2023-12-31 07098675 core:Goodwill 2023-12-31 07098675 core:PlantMachinery 2023-12-31 07098675 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure