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Registered number: 10421000
Bathroom Barn (Lazz) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
The Boss Partnership
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10421000
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,974 2,416
Investments 5 456,941 383,417
458,915 385,833
CURRENT ASSETS
Stocks 6 79,956 88,533
Debtors 7 286,919 255,381
Cash at bank and in hand 428,488 377,622
795,363 721,536
Creditors: Amounts Falling Due Within One Year 8 (298,590 ) (336,672 )
NET CURRENT ASSETS (LIABILITIES) 496,773 384,864
TOTAL ASSETS LESS CURRENT LIABILITIES 955,688 770,697
NET ASSETS 955,688 770,697
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 955,687 770,696
SHAREHOLDERS' FUNDS 955,688 770,697
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A J Wrighton
Director
11/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bathroom Barn (Lazz) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10421000 . The registered office is No1 Parkside Court, Greenhough Road, Lichfield, Staffordshire, WS13 7FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance
Computer Equipment 33% Straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 3,015 1,075 4,090
Additions - 398 398
As at 31 March 2024 3,015 1,473 4,488
Depreciation
As at 1 April 2023 1,319 355 1,674
Provided during the period 424 416 840
As at 31 March 2024 1,743 771 2,514
Net Book Value
As at 31 March 2024 1,272 702 1,974
As at 1 April 2023 1,696 720 2,416
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5. Investments
Unlisted Other Total
£ £ £
Cost
As at 1 April 2023 12,000 371,417 383,417
Additions - 73,524 73,524
As at 31 March 2024 12,000 444,941 456,941
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
Net Book Value
As at 31 March 2024 12,000 444,941 456,941
As at 1 April 2023 12,000 371,417 383,417
6. Stocks
2024 2023
£ £
Materials 79,956 88,533
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 245,762 217,465
Other debtors 41,157 37,916
286,919 255,381
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 187,087 107,514
Corporation tax 70,626 57,865
VAT 27,199 53,122
Other creditors (1) 5,778 3,510
Accruals and deferred income 3,266 3,266
Director's loan account 4,634 111,395
298,590 336,672
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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