Company Registration No. 02965338 (England and Wales)
Beautiful Bathrooms (Hayes) Limited
Unaudited accounts
for the year ended 30 September 2023
Beautiful Bathrooms (Hayes) Limited
Company Information
for the year ended 30 September 2023
Company Number
02965338 (England and Wales)
Registered Office
80 Dunsham Lane
Aylesbury
Bucks
HP20 2DG
United Kingdom
Accountants
Howard and Company
High Street
Egham
Surrey
TW20 9HE
Beautiful Bathrooms (Hayes) Limited
Statement of financial position
as at 30 September 2023
Tangible assets
385,022
362,688
Investment property
375,000
300,000
Cash at bank and in hand
307,602
295,144
Creditors: amounts falling due within one year
(86,350)
(106,965)
Net current assets
231,492
210,751
Total assets less current liabilities
991,514
873,439
Provisions for liabilities
Deferred tax
(123,093)
(98,759)
Net assets
868,421
774,680
Called up share capital
2
2
Revaluation reserve
259,100
240,350
Profit and loss account
609,319
534,328
Shareholders' funds
868,421
774,680
For the year ending 30 September 2023 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 18 April 2024 and were signed on its behalf by
Richard Bailes
Director
Company Registration No. 02965338
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2023
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 pounds 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 differing 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 the tax rates that are expected to apply at that time.
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 2023
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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At valuation
At cost
At cost
At 1 October 2022
350,000
6,579
21,770
378,349
Revaluations
25,000
-
-
25,000
Disposals
-
(1,250)
-
(1,250)
At 30 September 2023
375,000
5,329
21,770
402,099
At 1 October 2022
-
5,037
10,624
15,661
Charge for the year
-
309
2,229
2,538
On disposals
-
(1,122)
-
(1,122)
At 30 September 2023
-
4,224
12,853
17,077
At 30 September 2023
375,000
1,105
8,917
385,022
At 30 September 2022
350,000
1,542
11,146
362,688
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 Karwood Estate Agents of Hayes.
Fair value at 1 October 2022
300,000
Net gain from fair value adjustments
75,000
At 30 September 2023
375,000
The company's Investment Property was valued informally using the open market method of valuation by Karwood Estate Agents of Hayes.
Amounts falling due within one year
Trade debtors
5,783
10,838
Accrued income and prepayments
1,794
734
Beautiful Bathrooms (Hayes) Limited
Notes to the Accounts
for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
10,186
32,391
Taxes and social security
5,334
5,850
Loans from directors
68,129
66,129
8
Deferred taxation
2023
2022
Accelerated capital allowances
2,506
3,172
Revaluation of land and buildings
73,400
67,150
Revaluation of investment property
47,187
28,437
Provision at start of year
98,759
96,164
Charged to the profit and loss account
24,334
2,595
Provision at end of year
123,093
98,759
9
Average number of employees
During the year the average number of employees was 2 (2022: 3).