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Registration number: 10516390

Serenity Bathrooms Prudhoe Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Serenity Bathrooms Prudhoe Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 13

iXBRL Detailed Profit and Loss Account

14 to 15

 

Serenity Bathrooms Prudhoe Ltd

Company Information

Director

M Head

Registered office

6B Earls Court
Low Prudhoe Industrial Estate
Prudhoe
Northumberland
NE42 6QG

Accountants

Heritage Accountancy Limited
Chartered Certified Accountants
76 Front Street
Prudhoe
Northumberland
NE42 5PU

 

Serenity Bathrooms Prudhoe Ltd

Director's Report for the Year Ended 31 December 2023

The director presents his report and the abridged financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

M Head

Principal activity

The principal activity of the company is Bathroom Supply & Instalation

Small companies provision statement

This report has 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.

Approved and authorised by the director on 30 September 2024
 

.........................................
M Head
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Serenity Bathrooms Prudhoe Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Serenity Bathrooms Prudhoe Ltd for the year ended 31 December 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Serenity Bathrooms Prudhoe Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Serenity Bathrooms Prudhoe Ltd and state those matters that we have agreed to state to the Board of Directors of Serenity Bathrooms Prudhoe Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Serenity Bathrooms Prudhoe Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Serenity Bathrooms Prudhoe Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Serenity Bathrooms Prudhoe Ltd. You consider that Serenity Bathrooms Prudhoe Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Serenity Bathrooms Prudhoe Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Heritage Accountancy Limited
Chartered Certified Accountants
76 Front Street
Prudhoe
Northumberland
NE42 5PU

30 September 2024

 

Serenity Bathrooms Prudhoe Ltd

Abridged Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Gross profit

 

737,042

337,588

Administrative expenses

 

(346,127)

(284,307)

Profit before tax

4

390,915

53,281

Tax on profit

 

(94,859)

(10,124)

Profit for the financial year

 

296,056

43,157

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Serenity Bathrooms Prudhoe Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

296,056

43,157

Total comprehensive income for the year

296,056

43,157

 

Serenity Bathrooms Prudhoe Ltd

(Registration number: 10516390)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

126,754

64,546

Other financial assets

6

350,000

350,000

 

476,754

414,546

Current assets

 

Debtors

7

151,282

398,702

Cash at bank and in hand

 

453,560

409,816

 

604,842

808,518

Prepayments and accrued income

 

795

687

Creditors: Amounts falling due within one year

(207,326)

(197,750)

Net current assets

 

398,311

611,455

Total assets less current liabilities

 

875,065

1,026,001

Provisions for liabilities

(9,897)

(9,897)

Accruals and deferred income

 

(122,213)

(531,505)

Net assets

 

742,955

484,599

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

742,855

484,499

Shareholders' funds

 

742,955

484,599

For the financial year ending 31 December 2023 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 30 September 2024
 

 

Serenity Bathrooms Prudhoe Ltd

(Registration number: 10516390)
Abridged Balance Sheet as at 31 December 2023

.........................................
M Head
Director

 

Serenity Bathrooms Prudhoe Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

484,499

484,599

Profit for the year

-

296,056

296,056

Dividends

-

(37,700)

(37,700)

At 31 December 2023

100

742,855

742,955

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

100

479,042

479,142

Profit for the year

-

43,157

43,157

Dividends

-

(37,700)

(37,700)

At 31 December 2022

100

484,499

484,599

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
6B Earls Court
Low Prudhoe Industrial Estate
Prudhoe
Northumberland
NE42 6QG

These financial statements were authorised for issue by the director on 30 September 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 abridged 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 abridged 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.

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 and deferred 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.

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures & Fittings

25% Straight Line Basis

Office equipment

25% Straight Line Basis

Motor vehicles

25% Straight Line Basis

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.

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.

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

16,523

21,196

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

20,370

108,404

128,774

Additions

2,487

76,244

78,731

At 31 December 2023

22,857

184,648

207,505

Depreciation

At 1 January 2023

13,567

50,661

64,228

Charge for the year

2,086

14,437

16,523

At 31 December 2023

15,653

65,098

80,751

Carrying amount

At 31 December 2023

7,204

119,550

126,754

At 31 December 2022

6,803

57,743

64,546

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

350,000

350,000

At 31 December 2023

350,000

350,000

Impairment

Carrying amount

At 31 December 2023

350,000

350,000

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

Serenity Bathrooms Prudhoe Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

2023

2022

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

       
 

Serenity Bathrooms Prudhoe Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023

2023
£

2022
£

Turnover/revenue

1,859,569

1,315,477

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(1,122,527)

(977,889)

Closing stock/inventories

-

-

Gross profit

737,042

337,588

Distribution costs

Administrative expenses

Audit and accountancy other services

(3,688)

(2,393)

Advertising, promotions and marketing costs

(8,875)

(17,995)

Rent, rates and services costs

(33,854)

(22,051)

Utilities costs

(3,144)

(2,535)

Other repairs and maintenance costs

(3,953)

(11)

Depreciation of fixed assets

(16,523)

(21,196)

Vehicle costs

(28,713)

(24,288)

Wages and salaries excluding directors

(131,504)

(114,617)

Social security costs excluding directors

(4,028)

(2,705)

Pension costs defined contribution schemes excluding directors

(2,819)

(1,264)

Staff costs excluding directors

(138,351)

(118,586)

Salaries and fees, directors

(12,570)

(12,570)

Company contributions to money purchase plans, directors

(55,000)

(40,000)

Staff costs, directors

(67,570)

(52,570)

Consultancy costs

(1,550)

(4,017)

Travel and subsistence

(2,392)

(2,224)

Bank charges

(9,043)

(5,046)

Insurance costs

(5,652)

(3,829)

IT and computing

(4,686)

(2,392)

Telecommunications

(1,632)

(1,302)

Printing, postage and stationery

(2,315)

(1,305)

Charitable donations

(1,448)

(258)

Subscriptions

(201)

(235)

Other costs

(12,537)

(2,074)

Other operating income

Other items

Profit on ordinary activities before taxation

390,915

53,281

 

Serenity Bathrooms Prudhoe Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023

2023
£

2022
£

Tax on profit or loss on ordinary activities

(94,859)

(10,124)

Profit for the financial year

296,056

43,157