Bathrooms With Bubbles & Dreams Limited
Registered number: 05761496
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 41,994 53,998
Current assets
Stocks 299,850 295,725
Debtors 4 97,734 66,643
Cash at bank and in hand 709,913 943,600
1,107,497 1,305,968
Creditors: amounts falling due within one year 5 (293,235) (357,052)
Net current assets 814,262 948,916
Total assets less current liabilities 856,256 1,002,914
Provisions for liabilities (10,498) (10,260)
Net assets 845,758 992,654
Capital and reserves
Called up share capital 100 100
Profit and loss account 845,658 992,554
Shareholder's funds 845,758 992,654
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Sudworth
Director
Approved by the board on 27 September 2024
Bathrooms With Bubbles & Dreams Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Plant and machinery over 5 years reducing balance
Motor Vehicles over 4 years reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 14,173 35,354 73,575 123,102
Additions - 1,079 - 1,079
At 31 March 2024 14,173 36,433 73,575 124,181
Depreciation
At 1 April 2023 14,173 22,735 32,196 69,104
Charge for the year - 2,740 10,343 13,083
At 31 March 2024 14,173 25,475 42,539 82,187
Net book value
At 31 March 2024 - 10,958 31,036 41,994
At 31 March 2023 - 12,619 41,379 53,998
4 Debtors 2024 2023
£ £
Other debtors 97,734 66,643
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 165,841 236,967
Corporation tax 80,240 75,164
Other taxes and social security costs 25,691 23,896
Other creditors 21,463 21,025
293,235 357,052
6 Other information
Bathrooms With Bubbles & Dreams Limited is a private company limited by shares and incorporated in England. Its registered office is:
Levine House, 233 Wigan Road
Ashton in Makerfield
Wigan
Lancs
WN4 9SL
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