Bubblegum Distribution And Workwear Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Bubblegum Distribution And Workwear Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10565084 . The registered office is Unit 15a Fenttiman Road, Canvey Island, SS8 0EQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% reducing balance
Fixtures & Fittings	3 years straight line
Computer Equipment	3 years straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Bubblegum Distribution And Workwear Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 4)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 February 2024	154,745
Additions	862

As at 31 January 2025	155,607

Depreciation
As at 1 February 2024	19,432
Provided during the period	16,796

As at 31 January 2025	36,228

Net Book Value
As at 31 January 2025	119,379

As at 1 February 2024	135,313

5. Stocks

	2025	2024
	£	£
Finished goods	34,011	37,713

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Bubblegum Distribution And Workwear Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	60,357	57,971
Amounts owed by participating interests	327,168	353,976
Other debtors	6,202	25,730

	393,727	437,677

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	2,721	2,382
Trade creditors	74,233	17,843
Bank loans and overdrafts	17,391	17,391
Other creditors	84,667	135,788
Taxation and social security	15,765	11,297

	194,777	184,701

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	9,649	12,370
Bank loans	20,304	37,702
Other creditors	-	4,344

	29,953	54,416

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	2,721	2,382
Later than one year and not later than five years	9,649	12,370

	12,370	14,752

	12,370	14,752

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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Bubblegum Distribution And Workwear Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

11. Related Party Transactions

Design 4 Print.com UK Limited

(Associated company)

At the balance sheet date, the amount due from Design 4 Print.com.UK Limited was £49,127 (2024: £68,107).

Bubble Gum Promotions Limited

(Associated company)

At the balance sheet date, the amount due from Bubble Gum Promotions Limited was £198,625 (2024: £186,025).

South Stars Entertainment Ltd

(Associated company)

At the balance sheet date, the amount due from South Stars Entertainment Ltd was £8,578 (2024: £61,019).

Comrades Developments Limited

(Associated company)

At the balance sheet date, the amount due from Comrades Developments Limited was £nil (2024: £5,987).

Brightlingsea Property Company Limited

(Associated company)

At the balance sheet date, the amount due from Brightlingsea Property Company Limited was £45,838 (2024: £32,838).

Vole House Developments Ltd

(Associated company)

At the balanace sheet date, the amount due from Vole House Developments Ltd was £25,000 (2024: £nil).

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		119,379		135,313

			119,379		135,313
CURRENT ASSETS
Stocks	5	34,011		37,713
Debtors	6	393,727		437,677
Cash at bank and in hand		31,704		1,025

		459,442		476,415
Creditors: Amounts Falling Due Within One Year	7	(194,777 )		(184,701 )

NET CURRENT ASSETS (LIABILITIES)			264,665		291,714

TOTAL ASSETS LESS CURRENT LIABILITIES			384,044		427,027

Creditors: Amounts Falling Due After More Than One Year	8		(29,953 )		(54,416 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(29,845 )		(33,828 )

NET ASSETS			324,246		338,783

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			324,245		338,782

SHAREHOLDERS' FUNDS			324,246		338,783