Silverfin false false 30/04/2024 01/05/2023 30/04/2024 D J Tanner 22/12/2003 19 November 2024 The principal activity of the Company during the financial year was the sale of bathrooms, planning and installation. 05000951 2024-04-30 05000951 bus:Director1 2024-04-30 05000951 2023-04-30 05000951 core:CurrentFinancialInstruments 2024-04-30 05000951 core:CurrentFinancialInstruments 2023-04-30 05000951 core:Non-currentFinancialInstruments 2024-04-30 05000951 core:Non-currentFinancialInstruments 2023-04-30 05000951 core:ShareCapital 2024-04-30 05000951 core:ShareCapital 2023-04-30 05000951 core:RetainedEarningsAccumulatedLosses 2024-04-30 05000951 core:RetainedEarningsAccumulatedLosses 2023-04-30 05000951 core:Goodwill 2023-04-30 05000951 core:Goodwill 2024-04-30 05000951 core:OtherPropertyPlantEquipment 2023-04-30 05000951 core:OtherPropertyPlantEquipment 2024-04-30 05000951 2022-04-30 05000951 core:WithinOneYear 2024-04-30 05000951 core:WithinOneYear 2023-04-30 05000951 core:BetweenOneFiveYears 2024-04-30 05000951 core:BetweenOneFiveYears 2023-04-30 05000951 2023-05-01 2024-04-30 05000951 bus:FilletedAccounts 2023-05-01 2024-04-30 05000951 bus:SmallEntities 2023-05-01 2024-04-30 05000951 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05000951 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05000951 bus:Director1 2023-05-01 2024-04-30 05000951 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 05000951 core:Goodwill 2023-05-01 2024-04-30 05000951 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 05000951 2022-05-01 2023-04-30 05000951 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 05000951 (England and Wales)

BADGER BATHROOMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BADGER BATHROOMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BADGER BATHROOMS LIMITED

BALANCE SHEET

As at 30 April 2024
BADGER BATHROOMS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 12,847 17,490
12,847 17,490
Current assets
Stocks 5 49,011 62,224
Debtors 6 46,378 32,046
Cash at bank and in hand 143,430 148,912
238,819 243,182
Creditors: amounts falling due within one year 7 ( 231,443) ( 238,340)
Net current assets 7,376 4,842
Total assets less current liabilities 20,223 22,332
Creditors: amounts falling due after more than one year 8 ( 13,972) ( 27,592)
Net assets/(liabilities) 6,251 ( 5,260)
Capital and reserves
Called-up share capital 3 3
Profit and loss account 6,248 ( 5,263 )
Total shareholder's funds/(deficit) 6,251 ( 5,260)

For the financial year ending 30 April 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 financial statements of Badger Bathrooms Limited (registered number: 05000951) were approved and authorised for issue by the Director on 19 November 2024. They were signed on its behalf by:

D J Tanner
Director
BADGER BATHROOMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BADGER BATHROOMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Badger Bathrooms Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Barn Betsom's Farm, Pilgrims Way, Westerham, TN16 2DS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

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 and after eliminating sales within the company.

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.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life.

Tangible fixed assets

Tangible assets is stated in the statement of financial position 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 is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

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

The Company as lessee
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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade and other 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.

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 and other 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.


Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 8 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 90,000 90,000
At 30 April 2024 90,000 90,000
Accumulated amortisation
At 01 May 2023 90,000 90,000
At 30 April 2024 90,000 90,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 82,919 82,919
Additions 103 103
At 30 April 2024 83,022 83,022
Accumulated depreciation
At 01 May 2023 65,429 65,429
Charge for the financial year 4,746 4,746
At 30 April 2024 70,175 70,175
Net book value
At 30 April 2024 12,847 12,847
At 30 April 2023 17,490 17,490

5. Stocks

2024 2023
£ £
Finished goods 49,011 62,224

6. Debtors

2024 2023
£ £
Trade debtors 30,328 22,457
Other debtors 16,050 9,589
46,378 32,046

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 13,538
Trade creditors 122,421 126,148
Taxation and social security 47,921 35,236
Obligations under finance leases and hire purchase contracts 3,619 2,987
Other creditors 47,482 60,431
231,443 238,340

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,833 20,833
Obligations under finance leases and hire purchase contracts 3,139 6,759
13,972 27,592

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,372) ( 512)
Credited/(charged) to the Profit and Loss Account 1,160 ( 3,860)
At the end of financial year ( 3,212) ( 4,372)

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 41,458 11,667
between one and five years 62,708 0
104,166 11,667

The above lease commitments are in relation to a rental and vehicle leases. The rental lease expires in Sept 2028

11. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors' Loan Account 1,500 1,500

During the year the company made advances of £Nil and repayments of £Nil. The loan from the director to the company is unsecured, interest free and repayable on demand.