Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalse2023-01-01false00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13355599 2023-01-01 2023-12-31 13355599 2022-01-01 2022-12-31 13355599 2023-12-31 13355599 2022-12-31 13355599 c:Director1 2023-01-01 2023-12-31 13355599 c:Director2 2023-01-01 2023-12-31 13355599 c:RegisteredOffice 2023-01-01 2023-12-31 13355599 d:CurrentFinancialInstruments 2023-12-31 13355599 d:CurrentFinancialInstruments 2022-12-31 13355599 d:Non-currentFinancialInstruments 2023-12-31 13355599 d:Non-currentFinancialInstruments 2022-12-31 13355599 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13355599 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13355599 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13355599 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13355599 d:ShareCapital 2023-12-31 13355599 d:ShareCapital 2022-12-31 13355599 d:RetainedEarningsAccumulatedLosses 2023-12-31 13355599 d:RetainedEarningsAccumulatedLosses 2022-12-31 13355599 c:FRS102 2023-01-01 2023-12-31 13355599 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13355599 c:FullAccounts 2023-01-01 2023-12-31 13355599 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13355599 2 2023-01-01 2023-12-31 13355599 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 13355599







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SUNLEY BATH LIMITED






































img04fd.png                        

 


SUNLEY BATH LIMITED
 


 
COMPANY INFORMATION


Directors
James B Sunley 
Lisa H Sunley 




Registered number
13355599



Registered office
Clapton Farm House
Clapton

Hungerford

RG17 9RP




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


SUNLEY BATH LIMITED
REGISTERED NUMBER:13355599



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
5,397,827
3,220,184

Debtors: amounts falling due within one year
 5 
17,440
5,952

Cash at bank and in hand
  
19,173
98,712

  
5,434,440
3,324,848

Creditors: amounts falling due within one year
 6 
(5,439,526)
(2,788,337)

Net current (liabilities)/assets
  
 
 
(5,086)
 
 
536,511

Total assets less current liabilities
  
(5,086)
536,511

Creditors: amounts falling due after more than one year
 7 
-
(538,801)

  

Net liabilities
  
(5,086)
(2,290)

Page 1

 


SUNLEY BATH LIMITED
REGISTERED NUMBER:13355599


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(5,087)
(2,291)

  
(5,086)
(2,290)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




James B Sunley
Director

Date: 22 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


SUNLEY BATH LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Sunley Bath Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 


SUNLEY BATH LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 4

 


SUNLEY BATH LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL)

4.


Directors' remuneration



Page 5

 


SUNLEY BATH LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
17,440
5,455

Deferred taxation
-
497

17,440
5,952



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,425,130
1,742,191

Trade creditors
171,328
23,595

Amounts owed to group undertakings
1,824,678
-

Other creditors
16,595
1,020,881

Accruals and deferred income
1,795
1,670

5,439,526
2,788,337



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
538,801

-
538,801


The bank loans are secured by a fixed and floating charge including a negative pledge against property and undertaking within the company.


8.


Related party transactions

At the year end the director was owed £Nil (2022: £1,018,177) by the company.

 
Page 6