I am from Canada, so hope my advice will translate. For simple iced cupcakes here they run from $1.50-2.50, or .97-1.30 lb sterling. Bur for what you have displayed here, it would be more like $3.00-$3.50...and as high as $4.00. So 1.94-2.27.... 2.59 lb sterling. You live in a large city, mine is large, but no where near as large as London, UK. So thinking you could charge higher than in a small town. Hope this helps. :o)
Contact British Sugarcraft Guild [bsguk.org] for assistance in how to calculate for UK conditions.
Thank you ladies :)
It depends on where you are and what your expenses are..but for basic cupcakes and I am Pennsylvania, USA I charge $2.00 per cupcake and for cupcakes with toppers they range $2.25 and up. For gourmet flavors the price is even higher due to the increase in ingredients. You should figure how much you paid in ingredients and supplies plus your hourly rate (what you charge for your time) and you should have a figure of what you should charge.
Deborah for a large cupcake Waitrose charge £1.99. They're not that great looking, but quite pretty. I reckon you could charge at least £2 - £2.50 per cake.
Thank you ladies this really helps :)