Registration number:
Prime Bathrooms Ltd
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 |
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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: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Shareholders' deficit |
( |
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:
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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
Prime Bathrooms Ltd
(Registration number: 14674643)
Balance Sheet as at 31 March 2024 (continued)
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Director
Prime Bathrooms Ltd
Notes to the Unaudited Financial Statements for the Period from 18 February 2023 to 31 March 2024
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Tangible assets |
Leasehold property improvements |
Plant and machinery |
Total |
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Cost |
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Additions |
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At 31 March 2024 |
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Depreciation |
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Charge for the period |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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Prime Bathrooms Ltd
Notes to the Unaudited Financial Statements for the Period from 18 February 2023 to 31 March 2024 (continued)
Debtors |
2024 |
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Accrued income |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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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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Director's loan account |
44,874 |
Other creditors |
139 |
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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 £
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.