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Unaudited Financial Statements |
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For The Year Ended 31 May 2021 |
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Curtis Bros. (Bathrooms) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 May 2021 |
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for |
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Curtis Bros. (Bathrooms) Limited |
Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Contents of the Financial Statements |
For The Year Ended 31 May 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Curtis Bros. (Bathrooms) Limited |
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Company Information |
For The Year Ended 31 May 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Avalon House |
Waltham Business Park |
Brickyard Road, Swanmore |
Southampton |
Hampshire |
SO32 2SA |
Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Balance Sheet |
31 May 2021 |
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31.5.21 | 31.5.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Balance Sheet - continued |
31 May 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Notes to the Financial Statements |
For The Year Ended 31 May 2021 |
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1. | STATUTORY INFORMATION |
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Curtis Bros. (Bathrooms) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Website |
Website costs have been capitalised in 2016 which are being amortised over their estimated useful life of five years. |
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Tangible fixed assets |
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Fixtures and equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
During the year the company received revenue based grants available under the Government coronavirus business support schemes including the Coronavirus Job Retention Scheme and local authority support for retailers. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 May 2021 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill | Website | Totals |
£ | £ | £ |
COST |
At 1 June 2020 |
and 31 May 2021 |
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AMORTISATION |
At 1 June 2020 |
and 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 May 2021 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Trade debtors |
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The Curtis Partnership |
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Other debtors | 7,915 | 7,915 |
Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans and overdrafts |
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Payments on account |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 9,874 | 3,954 |
Pension contributions payable | 928 | 921 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans - 2-5 years |
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10. | SECURED DEBTS |
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The bank has a fixed and floating charge over the assets of the company. |
Curtis Bros. (Bathrooms) Limited (Registered number: 03537289) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 May 2021 |
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11. | COVID-19 |
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During the year, in common with many other companies, the outbreak of COVID-19 in the UK and the measures being taken to control its spread, have had a detrimental impact on our business, specifically the national lockdowns which resulted in furloughing staff. |
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The company furloughed staff during the year in accordance with the Government’s Coronavirus Job Retention Scheme and received grants through this scheme. The company also received local authority grants during the year. |
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The director has assessed the company's ability to continue as a going concern and believes they have access to sufficient funds to support future trade. The director also believes there to be no material adjustments required to the assets and liabilities as at the balance sheet date due to the impact of the pandemic. |
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The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their full impact on the financial position and results of the Company for future periods. |