Bathrooms & More Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07785795 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Bathrooms & More Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B A Rooney

A J Rooney

SECRETARY:

Mrs C H A Rooney

REGISTERED OFFICE:

12 Yorktown Road

College Town

Sandhurst

Berkshire

GU47 9DT

REGISTERED NUMBER:

07785795 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,812

9,082

6,812

9,082

CURRENT ASSETS

Debtors

6

41,271

46,450

Cash at bank and in hand

28,275

1,002

69,546

47,452

CREDITORS

Amounts falling due within one year

7

49,328

50,145

NET CURRENT ASSETS/(LIABILITIES)

20,218

(2,693

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,030

6,389

CREDITORS

Amounts falling due after more than one year

8

(2,750

)

(4,250

)

PROVISIONS FOR LIABILITIES

11

(1,294

)

(1,726

)

NET ASSETS

22,986

413

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

22,886

313

SHAREHOLDERS' FUNDS

22,986

413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2019 and were signed on its behalf by:

B A Rooney - Director

A J Rooney - Director

1.	STATUTORY INFORMATION

Bathrooms & More 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is

recognised when the risks and rewards of ownership of goods have been transferred to the customer

or where the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. The risks and rewards of

ownership of goods are deemed to have been transferred when the goods are shipped to, or are

picked up by, the customer. Where a service contract has only been partially completed at the balance

sheet date turnover represents the value of the service provided to date based on a proportion of the

total expected consideration at completion. Where payments are received from customers in advance

of services provided, the amounts are recorded as deferred income and included as part of creditors

due within one year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold premium

-

20% on cost

Improvements to property

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs.

Subsequently they are measured at amortised cost using the effective interest rate method, less

impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at

each balance sheet date. The directors review the carrying amount of the relevant assets and compare

them to their market values and recoverable amounts. Where the carrying amount exceeds this, an

impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where

the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

9,500

AMORTISATION

At 1 April 2018

and 31 March 2019

9,500

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Leasehold

to

and

premium

property

fittings

£

£

£

COST

At 1 April 2018

and 31 March 2019

15,000

11,389

2,025

DEPRECIATION

At 1 April 2018

15,000

11,389

1,638

Charge for year

-

-

96

At 31 March 2019

15,000

11,389

1,734

NET BOOK VALUE

At 31 March 2019

-

-

291

At 31 March 2018

-

-

387

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

18,089

3,315

49,818

DEPRECIATION

At 1 April 2018

10,161

2,548

40,736

Charge for year

1,982

192

2,270

At 31 March 2019

12,143

2,740

43,006

NET BOOK VALUE

At 31 March 2019

5,946

575

6,812

At 31 March 2018

7,928

767

9,082

The net book value of tangible fixed assets includes £5,946 (2018 - £7,928) in respect of assets held

under finance leases or hire purchase contracts. The depreciation charge in respect of such assets

amounted to £1,982 (2018 - £2,644) for the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

1,942

1,252

Other debtors

39,329

45,198

41,271

46,450

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts (see note 9)

1,500

1,500

Trade creditors

12,011

15,859

Taxation and social security

26,299

18,764

Other creditors

9,518

14,022

49,328

50,145

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts (see note 9)

2,750

4,250

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.3.19

31.3.18

£

£

Net obligations repayable:

Within one year

1,500

1,500

Between one and five years

2,750

4,250

4,250

5,750

Non-cancellable

operating leases

31.3.19

31.3.18

£

£

Within one year

20,000

20,000

Between one and five years

20,000

40,000

40,000

60,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Hire purchase contracts

4,250

5,750

11.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

Accelerated capital allowances

1,294

1,726

Deferred

tax

£

Balance at 1 April 2018

1,726

Accelerated capital allowances

(432

)

Balance at 31 March 2019

1,294

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary

£1

100

100