Blaze Designs Ltd
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Notes to the Accounts |
for the year ended 30 September 2018
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1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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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.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Office equipment |
over 2 years |
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Stocks |
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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.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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2 |
Employees |
2018 |
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2017 |
Number |
Number |
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Average number of persons employed by the company |
4 |
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3 |
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3 |
Tangible fixed assets |
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Office Equipment |
£ |
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Cost |
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At 1 October 2017 |
637 |
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At 30 September 2018 |
637 |
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Depreciation |
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At 1 October 2017 |
319 |
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Charge for the year |
318 |
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At 30 September 2018 |
637 |
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Net book value |
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At 30 September 2018 |
- |
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At 30 September 2017 |
318 |
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4 |
Debtors |
2018 |
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2017 |
£ |
£ |
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Trade debtors |
- |
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51,307 |
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Other debtors |
- |
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793 |
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- |
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52,100 |
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5 |
Creditors: amounts falling due within one year |
2018 |
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2017 |
£ |
£ |
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Trade creditors |
- |
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10,502 |
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Taxation and social security costs |
- |
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(295) |
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Other creditors |
- |
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56,960 |
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- |
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67,167 |
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6 |
Other information |
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Blaze Designs Ltd is a private company limited by shares and incorporated in England and Wales. It's registered office is: |
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53 Eastgate |
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Cowbridge |
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CF71 7EL |