Phoenix Bathroom Accessories Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02862962 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

PHOENIX BATHROOM ACCESSORIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTOR:

A K Pearce-Smith

SECRETARY:

Mrs C A Pearce-Smith

REGISTERED OFFICE:

10 Melbourne House

Corby Gate Business Park

Priors Haw Road

Corby

Northamptonshire

NN17 5JG

REGISTERED NUMBER:

02862962 (England and Wales)

ACCOUNTANTS:

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

FIXED ASSETS

Tangible assets

4

8,786

10,333

CURRENT ASSETS

Stocks

115,167

105,167

Debtors

5

30,418

33,904

Cash at bank

172

10,273

145,757

149,344

CREDITORS

Amounts falling due within one year

6

64,771

61,568

NET CURRENT ASSETS

80,986

87,776

TOTAL ASSETS LESS CURRENT LIABILITIES

89,772

98,109

CREDITORS

Amounts falling due after more than one year

7

(40,273

)

(40,312

)

PROVISIONS FOR LIABILITIES

(1,492

)

(1,963

)

NET ASSETS

48,007

55,834

CAPITAL AND RESERVES

Called up share capital

30,100

30,100

Retained earnings

17,907

25,734

SHAREHOLDERS' FUNDS

48,007

55,834

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 25 August 2020 and were signed by:

A K Pearce-Smith - Director

1.	STATUTORY INFORMATION

Phoenix Bathroom Accessories 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Displays

-

15% on reducing balance

Tools and fixtures

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Tools and

Computer

Displays

fixtures

equipment

Totals

£

£

£

£

COST

At 1 January 2019

and 31 December 2019

16,135

35,481

167

51,783

DEPRECIATION

At 1 January 2019

10,219

31,206

25

41,450

Charge for year

886

639

22

1,547

At 31 December 2019

11,105

31,845

47

42,997

NET BOOK VALUE

At 31 December 2019

5,030

3,636

120

8,786

At 31 December 2018

5,916

4,275

142

10,333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

16,993

20,479

Other debtors

13,425

13,425

30,418

33,904

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

27,696

34,396

Trade creditors

25,806

12,639

Taxation and social security

1,232

4,640

Other creditors

10,037

9,893

64,771

61,568

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

40,273

40,312

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2019 an amount of £40,273 (2018 £40,312) was due to the director, which is

included in creditors on the balance sheet.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A K Pearce-Smith.

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Phoenix Bathroom Accessories Limited for the year ended

31 December 2019 which comprise the Income Statement, Balance Sheet, Statement of Changes in

Equity and the related notes 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 http://www.accaglobal.com/rulebook.

This report is made solely to the director of Phoenix Bathroom Accessories Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phoenix Bathroom Accessories Limited and state those matters that we have agreed to state to the director of Phoenix Bathroom Accessories Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Phoenix Bathroom Accessories Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phoenix Bathroom Accessories Limited. You consider that Phoenix Bathroom Accessories Limited 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 financial statements of Phoenix Bathroom Accessories Limited. 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 financial statements.

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

25 August 2020