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Registration number: 10445244

Bathrooms By Harpers Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Bathrooms By Harpers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bathrooms By Harpers Limited

Company Information

Director

Mr. Edward Harper

Registered office

222 Wolverton Road
Blakelands
Milton Keynes
Buckinghamshire
MK14 5AB

Accountants

Veracitas Financial Consultants Ltd
Chartered
8 Park View
Tickford Street
Newport Pagnell
Buckinghamshire
MK16 9AD

 

Bathrooms By Harpers Limited

(Registration number: 10445244)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

46,170

60,481

Current assets

 

Debtors

5

16,089

36,935

Cash at bank and in hand

 

231,270

174,254

 

247,359

211,189

Creditors: Amounts falling due within one year

6

(139,427)

(127,345)

Net current assets

 

107,932

83,844

Total assets less current liabilities

 

154,102

144,325

Creditors: Amounts falling due after more than one year

6

(60,555)

(83,530)

Net assets

 

93,547

60,795

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

93,447

60,695

Shareholders' funds

 

93,547

60,795

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 March 2024
 

.........................................
Mr. Edward Harper
Director

 

Bathrooms By Harpers Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
222 Wolverton Road
Blakelands
Milton Keynes
Buckinghamshire
MK14 5AB

These financial statements were authorised for issue by the director on 14 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

 

Bathrooms By Harpers Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 and Machinery

25%

Fixtures and Fittings

25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Bathrooms By Harpers Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Bathrooms By Harpers Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

9,837

94,924

104,761

Additions

940

-

940

At 29 February 2024

10,777

94,924

105,701

Depreciation

At 1 March 2023

6,930

37,350

44,280

Charge for the year

857

14,394

15,251

At 29 February 2024

7,787

51,744

59,531

Carrying amount

At 29 February 2024

2,990

43,180

46,170

At 28 February 2023

2,907

57,574

60,481

5

Debtors

Current

2024
£

2023
£

Trade debtors

14,289

35,135

Other debtors

1,800

1,800

 

16,089

36,935

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

21,445

19,860

Trade creditors

 

70,186

67,060

Taxation and social security

 

46,057

38,964

Accruals and deferred income

 

1,740

960

Other creditors

 

(1)

501

 

139,427

127,345

Creditors: amounts falling due after more than one year

 

Bathrooms By Harpers Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

60,555

83,530

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

21,852

Hire purchase contracts

42,059

52,829

Other borrowings

5,996

8,849

60,555

83,530

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,648

Hire purchase contracts

11,445

9,212

21,445

19,860