Registration number:
The Alternative Bathroom Company Limited
for the Year Ended 31 December 2023
The Alternative Bathroom Company Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Alternative Bathroom Company Limited
Company Information
Directors: |
W Yang G Lake C R A Kirkpatrick I Te A Patel |
Registered office: |
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Registered number: |
05388912 |
Accountants: |
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The Alternative Bathroom Company Limited
(Registration number: 05388912)
Balance Sheet as at 31 December 2023
Note |
31.12.23 |
31.12.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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CURRENT ASSETS |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
1,308,630 |
1,446,261 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
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PROVISIONS FOR LIABILITIES |
( |
( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1 |
1 |
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Profit and loss account |
268,137 |
456,418 |
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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:
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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
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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
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
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
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
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 |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
- |
5. |
Tangible assets |
Land and buildings |
Plant & Machinery |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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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 |
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Stocks |
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7. |
Debtors |
Current |
Note |
31.12.23 |
31.12.22 |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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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 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
31.12.23 |
31.12.22 |
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Due after one year |
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Loans and borrowings |
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9. |
Loans and borrowings |
31.12.23 |
31.12.22 |
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Non-current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
- |
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31.12.23 |
31.12.22 |
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Current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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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 |
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Within one year |
269,310 |
229,650 |
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Between one and five years |
1,077,240 |
918,600 |
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In more than five years |
533,210 |
801,040 |
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Total |
1,859,760 |
1,949,290 |