Company Registration No. 02965338 (England and Wales)
Beautiful Bathrooms (Hayes) Limited
Unaudited accounts
for the year ended 30 September 2019
Beautiful Bathrooms (Hayes) Limited
Unaudited accounts
Contents
Beautiful Bathrooms (Hayes) Limited
Company Information
for the year ended 30 September 2019
Company Number
02965338 (England and Wales)
Registered Office
80 Dunsham Lane
Aylesbury
Bucks
HP20 2DG
United Kingdom
Accountants
Howard and Company
73a High Street
Egham
Surrey
TW20 9HE
Beautiful Bathrooms (Hayes) Limited
Statement of financial position
as at
30 September 2019
Tangible assets
338,171
339,426
Investment property
300,000
300,000
Inventories
15,400
13,200
Cash at bank and in hand
172,976
151,244
Creditors: amounts falling due within one year
(101,820)
(97,700)
Net current assets
113,186
79,573
Total assets less current liabilities
751,357
718,999
Provisions for liabilities
Deferred tax
(70,398)
(63,201)
Net assets
680,959
655,798
Called up share capital
2
2
Revaluation reserve
236,216
241,088
Profit and loss account
444,741
414,708
Shareholders' funds
680,959
655,798
For the year ending 30 September 2019 the company was entitled to exemption from audit 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 May 2020.
R Bailes
Director
Company Registration No. 02965338
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2019
Beautiful Bathrooms (Hayes) Limited is a private company, limited by shares, registered in England and Wales, registration number 02965338. The registered office is 80 Dunsham Lane, Aylesbury, Bucks, HP20 2DG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Freehold property occupied by the company is included at market fair value. Changes in value are transferred to the revaluation reserve after providing for deferred taxation at the rate expected to apply when the property is expected to be sold.
Other tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is expected to be sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2019
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
In accordance with FRS102 changes in the value of investment property are taken to the profit and loss reserve, however this part of that reserve are not distributable profits until the property is sold. At 30 September 2019 £128,487 of the reserve was not distributable (2018: £128,487).
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2018
325,000
5,311
15,875
346,186
Additions
-
2,414
-
2,414
Disposals
-
(1,146)
-
(1,146)
At 30 September 2019
325,000
6,579
15,875
347,454
At 1 October 2018
-
3,585
3,175
6,760
Charge for the year
-
753
2,540
3,293
On disposals
-
(770)
-
(770)
At 30 September 2019
-
3,568
5,715
9,283
At 30 September 2019
325,000
3,011
10,160
338,171
At 30 September 2018
325,000
1,726
12,700
339,426
Carrying amount of land and buildings on cost basis
42,500
42,500
Freehold land and buildings occupied by the company were valued informally using the open market method of valuation by the director.
5
Investment property
2019
Fair value at 1 October 2018
300,000
At 30 September 2019
300,000
The company's Investment Property was valued informally using the open market method of valuation by the director.
Finished goods
15,400
13,200
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2019
Trade debtors
25,596
11,707
Accrued income and prepayments
1,034
1,122
8
Creditors: amounts falling due within one year
2019
2018
Trade creditors
30,621
21,363
Taxes and social security
8,540
13,211
Loans from directors
60,129
60,129
9
Average number of employees
During the year the average number of employees was 2 (2018: 2).