Prime Bathrooms Ltd 14674643 false 2023-02-18 2024-03-31 2024-03-31 The principal activity of the company is wholesale of hardware, plumbing and heating equipment and supplies Digita Accounts Production Advanced 6.30.9574.0 true true 14674643 2023-02-18 2024-03-31 14674643 2024-03-31 14674643 core:RetainedEarningsAccumulatedLosses 2024-03-31 14674643 core:ShareCapital 2024-03-31 14674643 core:CurrentFinancialInstruments 2024-03-31 14674643 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14674643 core:FurnitureFittings 2024-03-31 14674643 core:PlantMachinery 2024-03-31 14674643 bus:SmallEntities 2023-02-18 2024-03-31 14674643 bus:AuditExemptWithAccountantsReport 2023-02-18 2024-03-31 14674643 bus:FullAccounts 2023-02-18 2024-03-31 14674643 bus:SmallCompaniesRegimeForAccounts 2023-02-18 2024-03-31 14674643 bus:Director1 2023-02-18 2024-03-31 14674643 bus:PrivateLimitedCompanyLtd 2023-02-18 2024-03-31 14674643 core:FurnitureFittings 2023-02-18 2024-03-31 14674643 core:LeaseholdImprovements 2023-02-18 2024-03-31 14674643 core:PlantMachinery 2023-02-18 2024-03-31 14674643 countries:AllCountries 2023-02-18 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 14674643

Prime Bathrooms Ltd

Unaudited Financial Statements

for the Period from 18 February 2023 to 31 March 2024

 

Prime Bathrooms Ltd

(Registration number: 14674643)

Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

3

39,501

Current assets

 

Stocks

2,000

Debtors

4

8,450

Cash at bank and in hand

 

2,650

 

13,100

Creditors: Amounts falling due within one year

5

(82,867)

Net current liabilities

 

(69,767)

Net liabilities

 

(30,266)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(30,267)

Shareholders' deficit

 

(30,266)

For the financial period ending 31 March 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 period in question in accordance with section 476; and

The director acknowledges 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 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 and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 13 November 2024
 

 

Prime Bathrooms Ltd

(Registration number: 14674643)

Balance Sheet as at 31 March 2024 (continued)

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

M J Davidson
Director

 

Prime Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Period from 18 February 2023 to 31 March 2024

1

Accounting policies

Statutory information

Prime Bathrooms Ltd is a private company, limited by shares, domiciled in England and Wales, company number 14674643. The registered office is at 86 Bartle Road, Sheffield, S12 2QQ.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors and the continued support of creditors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Accordingly, he continues to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises cash received from the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue is recognised at the point of sale of the goods.

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, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Leasehold property improvements

20% straight line

 

Prime Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Period from 18 February 2023 to 31 March 2024 (continued)

1

Accounting policies (continued)

Stock

Stock is valued at the lower of cost and net realisable value.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

3

Tangible assets

Leasehold property improvements
£

Plant and machinery
£

Total
£

Cost

Additions

42,199

5,512

47,711

At 31 March 2024

42,199

5,512

47,711

Depreciation

Charge for the period

6,952

1,258

8,210

At 31 March 2024

6,952

1,258

8,210

Carrying amount

At 31 March 2024

35,247

4,254

39,501

 

Prime Bathrooms Ltd

Notes to the Unaudited Financial Statements for the Period from 18 February 2023 to 31 March 2024 (continued)

4

Debtors

2024
£

Accrued income

8,450

8,450

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

30,246

Taxation and social security

1,608

Accruals and deferred income

6,000

Director's loan account

44,874

Other creditors

139

82,867

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £124,757.

7

Related party transactions

During the year the director had a loan account with the company. At the balance sheet date the amount due to M J Davidson was £44,874. The loan is interest free.