Original Bathrooms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01580823 (England and Wales)

ORIGINAL BATHROOMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G P Cots Limited

J A Corbisiero

REGISTERED OFFICE:

Ibroc House

Essex Road

Hoddesdon

Hertfordshire

EN11 0QS

REGISTERED NUMBER:

01580823 (England and Wales)

FIXED ASSETS

Tangible assets

5

16,080

4,856

CURRENT ASSETS

Stocks

159,481

166,420

Debtors

6

141,634

203,693

Cash at bank and in hand

246,892

10,666

548,007

380,779

CREDITORS

Amounts falling due within one year

7

566,449

706,691

NET CURRENT LIABILITIES

(18,442

)

(325,912

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,362

)

(321,056

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,462

)

(321,156

)

(2,362

)

(321,056

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 February 2019 and were signed on its behalf by:

J A Corbisiero - Director

1.	STATUTORY INFORMATION

Original Bathrooms Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£) which is also the functional currency for the

entity.

Going Concern

The financial statements have been prepared on the going concern basis, notwithstanding net liabilities

of £2,362, which the directors believe to be appropriate for the following reason. The company is

reliant for its working capital on funds provided to it by Davroc Limited, a company under common

control and which is the company's main creditor. As with any company placing reliance on other

entities for financial support, the directors acknowledge that there can be no certainty that this support

will continue although, at the date of approval of these financial statements, they have no reason to

believe that it will not do so. Based on this understanding the directors believe that it remains

appropriate to prepare the financial statements on a going concern basis. The financial statements do

not include any adjustments that would result from the basis of preparation being inappropriate.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

The directors consider that there are no significant judgements or estimates in the preparation of these

financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and

value added taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of

the goods has transferred to the buyer. This is usually at the point that the customer has signed for the

delivery of the goods.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and accumulated

impairment losses.

At each reporting date, tangible fixed assets are reviewed to determine whether there is any indication

that those assets have suffered an impairment loss. If there is an indication of possible impairment, the

recoverable amount of any affected asset is estimated and compared with its carrying amount. If the

estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable

amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but not in excess of the amount that would have been

determined had no impairment loss been recognised for the asset in prior years. A reversal of

impairment is recognised immediately in the income statement.

Depreciation has been computed to write off the cost of the property, plant and equipment over their

useful expected lives using the following rates:

Leasehold land and building Over the term of the lease

Furniture, fixtures and equipment 20% - 33% Straight line basis

Motor vehicles 33% Straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the

current or past reporting periods using tax rates that have been enacted or substantively enacted by

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 only to the extent that it is probable that they will

be recovered against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the

risks and rewards of ownership of the leased asset to the company. All other leases are classified as

operating leases.

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and

are depreciated over the shorter of the lease term and the asset's useful lives.

Rentals payable under operating leases are charged in the profit and loss account on a straight line

basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors

Trade and other receivables are measured at transaction price less any impairment unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of the future receipts discounted at the prevailing market rate of interest. Loans are

initially measured at fair value and are subsequently measured at amortised cost using the effective

interest method less any impairment.

Trade and other creditors

Trade and other payables are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at present value of future payments

discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair

value net of their transaction costs. They are subsequently measured at amortised cost using the

effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

52,335

33,541

85,876

Additions

-

18,225

18,225

At 30 September 2018

52,335

51,766

104,101

DEPRECIATION

At 1 October 2017

52,335

28,685

81,020

Charge for year

-

7,001

7,001

At 30 September 2018

52,335

35,686

88,021

NET BOOK VALUE

At 30 September 2018

-

16,080

16,080

At 30 September 2017

-

4,856

4,856

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

89,005

29,916

Amounts owed by related party

-

404

Other debtors

52,629

173,373

141,634

203,693

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

205,526

243,342

Amounts owed to related party

7,853

183,156

Taxation and social security

50,965

26,768

Other creditors

302,105

253,425

566,449

706,691

8.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the directors and employees. The

assets of the scheme are held separately from those of the company in an independently administered

fund. At the balance sheet date, unpaid contributions of £1,226 (2017: £375) were due to the fund.

They are included in other creditors.

9.	OTHER FINANCIAL COMMITMENTS

At 30 September 2018, the company had total commitments under non-cancellable operating leases

over the remaining life of those leases of £132,500 (2017: £185,500).

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

G P Cots Limited (05740711), a company registered in England and Wales with the registered office

address at Ibroc House, Essex Road, Hoddesdon, Hertfordshire, England, EN11 0Q , was regarded as

the company's parent company and ultimate controlling party at the balance sheet date.