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Registration number: 10516390

Serenity Bathrooms Prudhoe Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2022

 

Serenity Bathrooms Prudhoe Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Serenity Bathrooms Prudhoe Ltd

Company Information

Director

M Head

Registered office

6B Earls Court
Low Prudhoe Industrial Estate
Prudhoe
Northumberland
NE42 6QG

Accountants

Heritage Accountancy Limited
Chartered Certified Accountants
76 Front Street
Prudhoe
Northumberland
NE42 5PU

 

Serenity Bathrooms Prudhoe Ltd

(Registration number: 10516390)
Abridged Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

64,546

54,656

Other financial assets

5

350,000

-

 

414,546

54,656

Current assets

 

Debtors

6

398,702

417,903

Cash at bank and in hand

 

409,816

625,060

 

808,518

1,042,963

Prepayments and accrued income

 

686

-

Creditors: Amounts falling due within one year

(197,749)

(193,701)

Net current assets

 

611,455

849,262

Total assets less current liabilities

 

1,026,001

903,918

Provisions for liabilities

(9,897)

(7,867)

Accruals and deferred income

 

(531,505)

(416,909)

Net assets

 

484,599

479,142

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

484,499

479,042

Shareholders' funds

 

484,599

479,142

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Serenity Bathrooms Prudhoe Ltd

(Registration number: 10516390)
Abridged Balance Sheet as at 31 December 2022

Approved and authorised by the director on 29 September 2023
 

.........................................
M Head
Director

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
6B Earls Court
Low Prudhoe Industrial Estate
Prudhoe
Northumberland
NE42 6QG

These financial statements were authorised for issue by the director on 29 September 2023.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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 and deferred 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.

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Fixtures & Fittings

25% Straight Line Basis

Office equipment

25% Straight Line Basis

Motor vehicles

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.

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.

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2021 - 6).

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

19,521

78,167

97,688

Additions

849

30,237

31,086

At 31 December 2022

20,370

108,404

128,774

Depreciation

At 1 January 2022

11,618

31,414

43,032

Charge for the year

1,949

19,247

21,196

At 31 December 2022

13,567

50,661

64,228

Carrying amount

At 31 December 2022

6,803

57,743

64,546

At 31 December 2021

7,903

46,753

54,656

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Additions

350,000

350,000

At 31 December 2022

350,000

350,000

Impairment

Carrying amount

At 31 December 2022

350,000

350,000

6

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

 

2022

2021

 

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100