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COMPANY REGISTRATION NUMBER: 05652345
East Grinstead Bathrooms & Kitchens Limited
Filleted Unaudited Financial Statements
30 April 2024
East Grinstead Bathrooms & Kitchens Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
18,569
23,016
Investments
7
155
155
---------
---------
18,724
23,171
Current assets
Stocks
82,896
110,021
Debtors
8
258,943
318,862
Cash at bank and in hand
86,006
121,856
-----------
-----------
427,845
550,739
Creditors: amounts falling due within one year
9
237,125
321,878
-----------
-----------
Net current assets
190,720
228,861
-----------
-----------
Total assets less current liabilities
209,444
252,032
Creditors: amounts falling due after more than one year
10
29,632
35,017
Provisions
Taxation including deferred tax
1,787
2,120
-----------
-----------
Net assets
178,025
214,895
-----------
-----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
177,925
214,795
-----------
-----------
Shareholders funds
178,025
214,895
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
East Grinstead Bathrooms & Kitchens Limited
Statement of Financial Position (continued)
30 April 2024
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
K N Southan
Director
Company registration number: 05652345
East Grinstead Bathrooms & Kitchens Limited
Notes to the Financial Statements
Year Ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 3 Independent House, Imberhorne Lane, East Grinstead, West Sussex, RH19 1TU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents the value of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Tapstore Website
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short Leasehold Property
-
Leasehold Property depreciated over length of lease 10 years and 5 years
Plant and Machinery
-
25% straight line
Office Equipment
-
25% straight line
Motor Vehicle
-
25% straight line
Showroom Displays
-
25 % straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are recognised at amortised cost, except convertible preference an non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Intangible assets
Tapstore Website
£
Cost
At 1 May 2023 and 30 April 2024
9,000
--------
Amortisation
At 1 May 2023 and 30 April 2024
9,000
--------
Carrying amount
At 30 April 2024
--------
At 30 April 2023
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Showroom displays
Total
£
£
£
£
£
£
Cost
At 1 May 2023
26,972
14,457
30,942
22,145
169,966
264,482
Additions
509
5,277
5,786
Disposals
( 25,695)
( 25,695)
---------
---------
---------
---------
-----------
-----------
At 30 Apr 2024
26,972
14,457
5,756
22,145
175,243
244,573
---------
---------
---------
---------
-----------
-----------
Depreciation
At 1 May 2023
15,113
14,457
28,443
22,145
161,308
241,466
Charge for the year
2,697
979
6,558
10,234
Disposals
( 25,696)
( 25,696)
---------
---------
---------
---------
-----------
-----------
At 30 Apr 2024
17,810
14,457
3,726
22,145
167,866
226,004
---------
---------
---------
---------
-----------
-----------
Carrying amount
At 30 Apr 2024
9,162
2,030
7,377
18,569
---------
---------
---------
---------
-----------
-----------
At 30 Apr 2023
11,859
2,499
8,658
23,016
---------
---------
---------
---------
-----------
-----------
7. Investments
Shares in subsid'ries
£
Cost
At 1 May 2023 and 30 April 2024
155
-----
Impairment
At 1 May 2023 and 30 April 2024
-----
Carrying amount
At 30 April 2024
155
-----
At 30 April 2023
155
-----
The company owns 100 ordinary shares of £1 each representing 100% of the issued share capital of EGBK Installations Limited.
The company owns 550 ordinary shares of 10p each representing 94.8% of the issued share capital of Tapstore (UK) Limited.
8. Debtors
2024
2023
£
£
Trade debtors
35,708
120,437
Amounts owed by group undertakings and undertakings in which the company has a participating interest
129,588
117,696
Other debtors
93,647
80,729
-----------
-----------
258,943
318,862
-----------
-----------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,385
5,239
Trade creditors
132,243
191,136
Amounts owed to group undertakings and undertakings in which the company has a participating interest
34,767
35,816
Corporation tax
15,088
17,472
Social security and other taxes
2,672
23,217
Other creditors
46,970
48,998
-----------
-----------
237,125
321,878
-----------
-----------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,632
35,017
---------
---------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
900
-----
-----
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2024
2023
£
£
Management charge to subsidiaries
11,452
12,076
---------
---------
13. Controlling party
The company is 100% owned by ALN & Associates Ltd., a company registered in England & Wales.