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Registration number: 07529865

Yorkshire Heating & Bathrooms Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

Yorkshire Heating & Bathrooms Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Yorkshire Heating & Bathrooms Ltd

Company Information

Director

Paul Wood

Registered office

156 Richmond Lane
Kingswood
Hull
East Yorkshire
HU7 3NH

Accountants

Paul Bloor
8 Brough Road
South Cave
Brough
East Yorkshire
HU15 2BX

 

Yorkshire Heating & Bathrooms Ltd

(Registration number: 07529865)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

502

799

Current assets

 

Debtors

5

11,615

5,460

Cash at bank and in hand

 

11,696

11,767

 

23,311

17,227

Creditors: Amounts falling due within one year

6

(20,011)

(16,889)

Net current assets

 

3,300

338

Total assets less current liabilities

 

3,802

1,137

Provisions for liabilities

(674)

(674)

Net assets

 

3,128

463

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

3,028

363

Shareholders' funds

 

3,128

463

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 June 2022
 

.........................................

Paul Wood
Director

 

Yorkshire Heating & Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
156 Richmond Lane
Kingswood
Hull
East Yorkshire
HU7 3NH

These financial statements were authorised for issue by the director on 7 June 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Yorkshire Heating & Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Fixtures and Fittings

20% straight line basis

Office Equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Yorkshire Heating & Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 1).

 

Yorkshire Heating & Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

7,228

7,228

At 28 February 2022

7,228

7,228

Depreciation

At 1 March 2021

6,429

6,429

Charge for the year

297

297

At 28 February 2022

6,726

6,726

Carrying amount

At 28 February 2022

502

502

At 28 February 2021

799

799

5

Debtors

2022
£

2021
£

Trade debtors

11,589

5,460

Other debtors

26

-

11,615

5,460

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

14,784

9,301

Taxation and social security

 

4,214

6,616

Accruals and deferred income

 

1,013

973

Other creditors

 

-

(1)

 

20,011

16,889

Creditors: amounts falling due after more than one year

 

Yorkshire Heating & Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

2022
£

2021
£

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

14,784

9,301

9

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

9,473

8,632