The Alternative Bathroom Company Limited 05388912 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is wholesale of household goods. Digita Accounts Production Advanced 6.30.9574.0 true 05388912 2023-01-01 2023-12-31 05388912 2023-12-31 05388912 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 05388912 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 05388912 core:CurrentFinancialInstruments 2023-12-31 05388912 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05388912 core:Non-currentFinancialInstruments 2023-12-31 05388912 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05388912 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 05388912 core:FurnitureFittingsToolsEquipment 2023-12-31 05388912 core:LandBuildings 2023-12-31 05388912 bus:SmallEntities 2023-01-01 2023-12-31 05388912 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05388912 bus:FilletedAccounts 2023-01-01 2023-12-31 05388912 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05388912 bus:RegisteredOffice 2023-01-01 2023-12-31 05388912 bus:Director1 2023-01-01 2023-12-31 05388912 bus:Director3 2023-01-01 2023-12-31 05388912 bus:Director5 2023-01-01 2023-12-31 05388912 bus:Director6 2023-01-01 2023-12-31 05388912 bus:Director7 2023-01-01 2023-12-31 05388912 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05388912 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05388912 core:LandBuildings 2023-01-01 2023-12-31 05388912 core:PlantMachinery 2023-01-01 2023-12-31 05388912 countries:EnglandWales 2023-01-01 2023-12-31 05388912 2022-12-31 05388912 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 05388912 core:FurnitureFittingsToolsEquipment 2022-12-31 05388912 core:LandBuildings 2022-12-31 05388912 2022-01-01 2022-12-31 05388912 2022-12-31 05388912 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 05388912 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 05388912 core:CurrentFinancialInstruments 2022-12-31 05388912 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05388912 core:Non-currentFinancialInstruments 2022-12-31 05388912 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 05388912 core:FurnitureFittingsToolsEquipment 2022-12-31 05388912 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05388912

The Alternative Bathroom Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

The Alternative Bathroom Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Alternative Bathroom Company Limited

Company Information

Directors:

W Yang

G Lake

C R A Kirkpatrick

I Te

A Patel

Registered office:

Unit 5 Phoenix Park
Ealing Road
London
TW8 9PL

Registered number:

05388912

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

The Alternative Bathroom Company Limited

(Registration number: 05388912)
Balance Sheet as at 31 December 2023

Note

31.12.23

31.12.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

5

 

103,982

 

126,664

CURRENT ASSETS

   

 

Stocks

6

755,258

 

839,406

 

Debtors

7

454,676

 

632,115

 

Cash at bank and in hand

 

314,348

 

361,284

 

 

1,524,282

 

1,832,805

 

CREDITORS

   

 

Creditors within 1yr

8

1,308,630

 

1,446,261

 

Net current assets

   

215,652

 

386,544

Total assets less current liabilities

   

319,634

 

513,208

Creditors
Amounts falling due after more than one year

8

 

25,500

 

43,673

PROVISIONS FOR LIABILITIES

 

(25,996)

 

(13,116)

Net assets

   

268,138

 

456,419

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Profit and loss account

 

268,137

 

456,418

Shareholders' funds

   

268,138

 

456,419

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

The Alternative Bathroom Company Limited

(Registration number: 05388912)
Balance Sheet as at 31 December 2023 (continued)

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

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

C R A Kirkpatrick - Director

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

These financial statements were authorised for issue by the Board on 9 September 2024.

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 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 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.

The presentational currency is Pound Sterling (£).

Group accounts not prepared

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises 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.

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

Plant & machinery

Straight line over 4 to 8 years

Trade debtors

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2022 - 28).

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4.

Intangible assets

Trademarks, patents and licenses
 £

Cost or valuation

At 1 January 2023

36,530

At 31 December 2023

36,530

Amortisation

At 1 January 2023

36,530

At 31 December 2023

36,530

Carrying amount

At 31 December 2023

-

5.

Tangible assets

Land and buildings
£

Plant & Machinery
£

Total
£

Cost or valuation

At 1 January 2023

158,682

545,680

704,362

Additions

-

15,911

15,911

At 31 December 2023

158,682

561,591

720,273

Depreciation

At 1 January 2023

102,255

475,443

577,698

Charge for the year

10,456

28,137

38,593

At 31 December 2023

112,711

503,580

616,291

Carrying amount

At 31 December 2023

45,971

58,011

103,982

At 31 December 2022

56,427

70,237

126,664

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6.

Stocks

31.12.23
£

31.12.22
£

Stocks

755,258

839,406

7.

Debtors

Current

Note

31.12.23
£

31.12.22
£

Trade debtors

 

102,388

280,742

Amounts owed by related parties

315,567

313,683

Prepayments

 

36,721

37,690

   

454,676

632,115

Amounts owed by related party have no interest or repayment terms set.

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8.

Creditors

Creditors: amounts falling due within one year

Note

31.12.23
£

31.12.22
£

Due within one year

 

Loans and borrowings

9

18,200

19,807

Trade creditors

 

628,588

686,921

Taxation and social security

 

136,096

152,948

Accruals and deferred income

 

17,760

2,411

Other creditors

 

507,986

584,174

 

1,308,630

1,446,261

Creditors: amounts falling due after more than one year

Note

31.12.23
£

31.12.22
£

Due after one year

 

Loans and borrowings

9

25,500

43,673

9.

Loans and borrowings

31.12.23
£

31.12.22
£

Non-current loans and borrowings

Bank borrowings

25,500

43,500

Hire purchase contracts

-

173

25,500

43,673

31.12.23
£

31.12.22
£

Current loans and borrowings

Bank borrowings

18,000

18,000

Hire purchase contracts

200

1,807

18,200

19,807

 

The Alternative Bathroom Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

10.

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of leasing agreements not included in the balance sheet are £1,858,760 (2022: £1,949,290). These are minimum lease payments under non-cancellable operating leases falling due between one and over five years.

The total amount of guarantees not included in the balance sheet is £Nil (2022 - £Nil).

Leasing Agreement
Minimum lease payments under non-cancellable oparating leases fall due as follows:-
 

Current period

Prior period

Within one year

269,310

229,650

Between one and five years

1,077,240

918,600

In more than five years

533,210

801,040

Total

1,859,760

1,949,290