2 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09048561 2022-06-01 2023-05-31 09048561 2023-05-31 09048561 2022-05-31 09048561 2021-06-01 2022-05-31 09048561 2022-05-31 09048561 core:FurnitureFittings 2022-06-01 2023-05-31 09048561 core:MotorVehicles 2022-06-01 2023-05-31 09048561 bus:Director1 2022-06-01 2023-05-31 09048561 core:FurnitureFittings 2022-05-31 09048561 core:MotorVehicles 2022-05-31 09048561 core:FurnitureFittings 2023-05-31 09048561 core:MotorVehicles 2023-05-31 09048561 core:WithinOneYear 2023-05-31 09048561 core:WithinOneYear 2022-05-31 09048561 core:AfterOneYear 2023-05-31 09048561 core:AfterOneYear 2022-05-31 09048561 core:ShareCapital 2023-05-31 09048561 core:ShareCapital 2022-05-31 09048561 core:RetainedEarningsAccumulatedLosses 2023-05-31 09048561 core:RetainedEarningsAccumulatedLosses 2022-05-31 09048561 core:FurnitureFittings 2022-05-31 09048561 core:MotorVehicles 2022-05-31 09048561 bus:SmallEntities 2022-06-01 2023-05-31 09048561 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09048561 bus:FullAccounts 2022-06-01 2023-05-31 09048561 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09048561 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 09048561
DREAM BATHS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
DREAM BATHS LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
21,193
28,024
CURRENT ASSETS
Stocks
66,000
66,000
Debtors
6
4,846
7,758
Cash at bank and in hand
1,358
--------
--------
70,846
75,116
CREDITORS: amounts falling due within one year
7
98,359
77,342
--------
--------
NET CURRENT LIABILITIES
27,513
2,226
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 6,320)
25,798
CREDITORS: amounts falling due after more than one year
8
18,710
37,979
--------
--------
NET LIABILITIES
( 25,030)
( 12,181)
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
( 25,031)
( 12,182)
--------
--------
SHAREHOLDERS DEFICIT
( 25,030)
( 12,181)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DREAM BATHS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
Mrs A Kwirowska
Director
Company registration number: 09048561
DREAM BATHS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2B South Folds Road, Corby, Northamptonshire, NN18 9EU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
8,926
59,495
68,421
-------
--------
--------
Depreciation
At 1 June 2022
5,417
34,980
40,397
Charge for the year
702
6,129
6,831
-------
--------
--------
At 31 May 2023
6,119
41,109
47,228
-------
--------
--------
Carrying amount
At 31 May 2023
2,807
18,386
21,193
-------
--------
--------
At 31 May 2022
3,509
24,515
28,024
-------
--------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
563
67
Other debtors
4,283
7,691
-------
-------
4,846
7,758
-------
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
26,467
10,202
Trade creditors
17,208
14,934
Social security and other taxes
8,174
6,398
Other creditors
46,510
45,808
--------
--------
98,359
77,342
--------
--------
Included within other creditors are amounts totalling £nil (2022 - £2,642) relating to hire purchase and finance lease agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,710
29,596
Other creditors
8,383
--------
--------
18,710
37,979
--------
--------
Included within other creditors are amounts totalling £nil (2022 - £8,383) relating to hire purchase and finance lease agreements which are secured by the company.
9. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The director advanced monies to the company. At 31 May 2023 the amount owed to the director totalled £ 44,690 (2022 - £ 39,915 ).
10. GOING CONCERN
The director has considered the period to January 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy its liabilities as these become payable.