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Registration number: 07712508

Oasis Bathrooms & Heating Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Oasis Bathrooms & Heating Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Oasis Bathrooms & Heating Limited

Company Information

Directors

Mr B R Hilleard

Mr A T Hilleard

Mrs N D Hilleard

Company secretary

Mrs N D Hilleard

Registered office

Unit 12
Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited
Chartered Accountants
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

Oasis Bathrooms & Heating Limited

(Registration number: 07712508)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,831

21,744

Current assets

 

Stocks

5

1,000

4,700

Debtors

6

8,830

18,070

Cash at bank and in hand

 

100,359

36,398

 

110,189

59,168

Creditors: Amounts falling due within one year

7

(57,265)

(41,081)

Net current assets

 

52,924

18,087

Total assets less current liabilities

 

70,755

39,831

Provisions for liabilities

(4,791)

(4,436)

Net assets

 

65,964

35,395

Capital and reserves

 

Called up share capital

8

150

150

Capital redemption reserve

80

80

Retained earnings

65,734

35,165

Shareholders' funds

 

65,964

35,395

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 January 2025 and signed on its behalf by:
 

 

Oasis Bathrooms & Heating Limited

(Registration number: 07712508)
Balance Sheet as at 31 August 2024

.........................................
Mr B R Hilleard
Director

.........................................
Mr A T Hilleard
Director

 
     
 

Oasis Bathrooms & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

Oasis Bathrooms & Heating Limited is a private company, limited by shares, domiciled in England and Wales. The company's registration number is 0771508. The registered office is Unit 12 Old Mills Industrial Estate, Paulton, Bristol, BS39 7SU. The principal place of business is Wells Road, Radstock, BA3 3RH.

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 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 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Oasis Bathrooms & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

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.

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.

 

Oasis Bathrooms & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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.

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.

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 directors) during the year, was 3 (2023 - 3).

 

Oasis Bathrooms & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

11,633

5,728

33,040

50,401

Additions

-

368

-

368

At 31 August 2024

11,633

6,096

33,040

50,769

Depreciation

At 1 September 2023

3,997

4,081

20,579

28,657

Charge for the year

1,909

503

1,869

4,281

At 31 August 2024

5,906

4,584

22,448

32,938

Carrying amount

At 31 August 2024

5,727

1,512

10,592

17,831

At 31 August 2023

7,636

1,647

12,461

21,744

5

Stocks

2024
£

2023
£

Work in progress

-

950

Other inventories

1,000

3,750

1,000

4,700

6

Debtors

2024
£

2023
£

Trade debtors

8,830

18,070

 

Oasis Bathrooms & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,602

2,724

Taxation and social security

41,950

20,332

Accruals and deferred income

2,560

2,435

Other creditors

6,153

15,590

57,265

41,081

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

50

50

50

50

B Ordinary shares of £1 each

100

100

100

100

150

150

150

150