The Bespoke Furniture Company (UK) Limited - Period Ending 2015-07-31

Registration number: 03814767

The Bespoke Furniture Company (UK) Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 31 July 2015
 

The Bespoke Furniture Company (UK) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Bespoke Furniture Company (UK) Limited
(Registration number: 03814767)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					60,358			64,511
Current assets
Stocks					16,356			31,973
Debtors					91,205			54,739
Cash at bank and in hand					5,523			37,156
					113,084			123,868
Creditors: Amounts falling due within one year					(113,073)			(126,934)
Net current assets/(liabilities)					11			(3,066)
Total assets less current liabilities					60,369			61,445
Creditors: Amounts falling due after more than one year					(40,339)			(40,659)
Provisions for liabilities					(11,500)			(12,205)
Net assets					8,530			8,581
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					8,430			8,481
Shareholders' funds					8,530			8,581

For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 28 April 2016 and signed on its behalf by:

.........................................
Mr D J Jenner
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

The Bespoke Furniture Company (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold property	Over the period of the lease
Motor vehicles	25% reducing balance method
Fixtures and fittings	25% reducing balance method
Plant and machinery	25% reducing balance method

Stock and work in progress

Stock and work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date. A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on a non-discounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated in accordance with the company's normal policy. The outstanding liabilities under such agreements less interest not yet due are included in creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.

Page 2

The Bespoke Furniture Company (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2014		4,000			146,039			150,039
Additions		-			15,967			15,967
At 31 July 2015		4,000			162,006			166,006
Depreciation
At 1 August 2014		4,000			81,528			85,528
Charge for the year		-			20,120			20,120
At 31 July 2015		4,000			101,648			105,648
Net book value
At 31 July 2015		-			60,358			60,358
At 31 July 2014		-			64,511			64,511

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3