Company Registration No. 02965338 (England and Wales)
Beautiful Bathrooms (Hayes) Limited
Unaudited accounts
for the year ended 30 September 2020
Beautiful Bathrooms (Hayes) Limited
Unaudited accounts
Contents
Beautiful Bathrooms (Hayes) Limited
Company Information
for the year ended 30 September 2020
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 2020
Tangible assets
344,825
338,171
Investment property
300,000
300,000
Inventories
27,875
15,400
Cash at bank and in hand
208,813
172,976
Creditors: amounts falling due within one year
(104,329)
(101,820)
Net current assets
178,558
113,186
Total assets less current liabilities
823,383
751,357
Creditors: amounts falling due after more than one year
(5,900)
-
Provisions for liabilities
Deferred tax
(71,663)
(70,398)
Net assets
745,820
680,959
Called up share capital
2
2
Revaluation reserve
236,216
236,216
Profit and loss account
509,602
444,741
Shareholders' funds
745,820
680,959
For the year ending 30 September 2020 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.
The financial statements were approved by the Board and authorised for issue on 2 June 2021 and were signed on its behalf by
R Bailes
Director
Company Registration No. 02965338
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2020
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 2020
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 2019
325,000
6,579
15,875
347,454
Additions
-
-
21,770
21,770
Disposals
-
-
(15,875)
(15,875)
At 30 September 2020
325,000
6,579
21,770
353,349
At 1 October 2019
-
3,568
5,715
9,283
Charge for the year
-
602
4,354
4,956
On disposals
-
-
(5,715)
(5,715)
At 30 September 2020
-
4,170
4,354
8,524
At 30 September 2020
325,000
2,409
17,416
344,825
At 30 September 2019
325,000
3,011
10,160
338,171
Carrying amount of land and buildings on cost basis
42,500
42,500
Freehold land and buildings occupied by the company are valued informally using the open market method of valuation by the director.
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
17,416
-
5
Investment property
2020
Fair value at 1 October 2019
300,000
At 30 September 2020
300,000
The company's Investment Property was valued informally using the open market method of valuation by the director.
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2020
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
45,590
25,596
Accrued income and prepayments
441
1,034
7
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
7,080
-
Trade creditors
14,237
30,621
Taxes and social security
18,544
8,540
Loans from directors
62,129
60,129
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
5,900
-
9
Average number of employees
During the year the average number of employees was 3 (2019: 2).