Company Registration No. 04922970 (England and Wales)
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
PAGES FOR FILING WITH REGISTRAR
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2018
30 November 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
138
Current assets
Debtors
3
15,192
4,417
Cash at bank and in hand
3
3
15,195
4,420
Creditors: amounts falling due within one year
4
(27,937)
(20,739)
Net current liabilities
(12,742)
(16,319)
Total assets less current liabilities
(12,742)
(16,181)
Capital and reserves
Called up share capital
5
102
102
Profit and loss reserves
(12,844)
(16,283)
Total equity
(12,742)
(16,181)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 August 2019
Mr C Kelly
Director
Company Registration No. 04922970
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 2 -
1
Accounting policies
Company information
Bespoke Electrical Services Technicians Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company, on the basis of the continued support of the director
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% Straight line
Fixtures, fittings & equipment
25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2017
4,732
Disposals
(2,339)
At 30 November 2018
2,393
Depreciation and impairment
At 1 December 2017
4,594
Depreciation charged in the year
138
Eliminated in respect of disposals
(2,339)
At 30 November 2018
2,393
Carrying amount
At 30 November 2018
-
At 30 November 2017
138
BESPOKE ELECTRICAL SERVICES TECHNICIANS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 4 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
14,712
3,732
Other debtors
480
685
15,192
4,417
4
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
4,262
3,858
Trade creditors
5,222
4,849
Corporation tax
1,557
-
Other taxation and social security
3,880
1,166
Other creditors
13,016
10,866
27,937
20,739
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
102
102
6
Directors' transactions
At the year end, included in other creditors due within one year is an amount of £9,963 (2017 : £7,789) due to C Kelly, the director of the company.