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Registered number: 10618807
Bagworld Bespoke Bags Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2026
Hayward Wright
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10618807
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 7,387 9,850
7,387 9,850
CURRENT ASSETS
Stocks 6 10,280 10,280
Debtors 7 58,903 38,929
Cash at bank and in hand 22 3,958
69,205 53,167
Creditors: Amounts Falling Due Within One Year 8 (217,631 ) (167,847 )
NET CURRENT ASSETS (LIABILITIES) (148,426 ) (114,680 )
TOTAL ASSETS LESS CURRENT LIABILITIES (141,039 ) (104,830 )
NET LIABILITIES (141,039 ) (104,830 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (141,040 ) (104,831 )
SHAREHOLDERS' FUNDS (141,039) (104,830)
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Page 2
For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C Surman
Director
10 September 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bagworld Bespoke Bags Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10618807 . The registered office is Windsor House, 5 Windsor Road, Redditch, Worcestershire, B98 7DJ.
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.
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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
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.
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.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2025: 11)
9 11
4. Tax on Profit
2026 2025
£ £
Current tax
UK Corporation Tax - -
Deferred Tax
Deferred taxation (6,383 ) (8,925 )
Total tax charge for the period (6,383 ) (8,925 )
2026 2025
£ £
Profit before tax (42,592) (38,999)
Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate) - -
Difference in tax rates (6,383 ) -
Total tax charge for the period (6,383) -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2025 20,301 5,362 9,703 35,366
As at 28 February 2026 20,301 5,362 9,703 35,366
Depreciation
As at 1 March 2025 12,460 4,826 8,230 25,516
Provided during the period 1,961 134 368 2,463
As at 28 February 2026 14,421 4,960 8,598 27,979
Net Book Value
As at 28 February 2026 5,880 402 1,105 7,387
As at 1 March 2025 7,841 536 1,473 9,850
6. Stocks
2026 2025
£ £
Stock 10,280 10,280
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7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 29,634 16,044
Other debtors 29,269 22,885
58,903 38,929
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 28,360 27,991
Bank loans and overdrafts 3,461 13,072
Other creditors 145,491 98,000
Taxation and social security 40,319 28,784
217,631 167,847
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2025 (22,884 ) (22,884)
Additions (6,384 ) (6,384)
Balance at 28 February 2026 (29,268 ) (29,268)
10. Share Capital
2026 2025
£ £
Called Up Share Capital not Paid 1 1
Amount of Allotted, Called Up Share Capital 1 1
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Surman by virtue of his ownership of 100% of the issued share capital in the company.
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