Yorkshire Bathrooms and Kitchens Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05422380 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2021

for

Yorkshire Bathrooms and Kitchens Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R Borchard

A D Boddy

P J Gregg

SECRETARY:

G R Borchard

REGISTERED OFFICE:

Boroughbridge Road

Ripon

North Yorkshire

HG4 1UE

REGISTERED NUMBER:

05422380 (England and Wales)

ACCOUNTANTS:

Bushells

6 Victoria Avenue

Harrogate

North Yorkshire

HG1 1ED

FIXED ASSETS

Intangible assets

4

1,021,577

11,544

Tangible assets

5

219,806

192,044

1,241,383

203,588

CURRENT ASSETS

Stocks

858,542

685,474

Debtors

1,309,672

1,441,661

Cash at bank

446,266

1,057,823

2,614,480

3,184,958

CREDITORS

Amounts falling due within one year

3,388,143

2,789,915

NET CURRENT (LIABILITIES)/ASSETS

(773,663

)

395,043

TOTAL ASSETS LESS CURRENT LIABILITIES

467,720

598,631

CREDITORS

Amounts falling due after more than one year

6

(273,448

)

(152,377

)

PROVISIONS FOR LIABILITIES

(160,015

)

(55,781

)

NET ASSETS

34,257

390,473

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

8

338,416

-

Retained earnings

(304,162

)

390,470

SHAREHOLDERS' FUNDS

34,257

390,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 22 September 2022 and were signed on its behalf by:

G R Borchard - Director

1.	STATUTORY INFORMATION

Yorkshire Bathrooms and Kitchens 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 as modified by the revaluation of certain assets.

The accounts have been prepared on the going concern basis of accounting. The company is considered to be a going concern with the support of its parent, GBB Interiors Group Ltd, and the company's directors.

Turnover

Turnover represents net amounts receivable for goods supplied, excluding value added tax.

Intangible assets

Website costs are initially measured at cost. After initial recognition, website costs are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs will be amortised evenly over their estimated useful life of twenty years.

Domain names are stated at revalued amounts less any amortisation or impairment losses subsequently accumulated. Previously they were reported at cost. Revaluations are carried out so that the carrying amounts approximate the fair value at the reporting date. An increase in value is credited to the revaluation reserve.

Domain names will be amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets

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

Leasehold property improvement

-

5% on cost

Fixtures and equipment

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

Government grants

Capital grants and other contributions received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate. Revenue grants which do not relate to specific expenditure are recognised on receipt.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2020 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2021

27,252

Additions

562,494

Revaluations

444,166

At 31 December 2021

1,033,912

AMORTISATION

At 1 January 2021

15,708

Amortisation for year

3,677

Revaluation adjustments

(7,050

)

At 31 December 2021

12,335

NET BOOK VALUE

At 31 December 2021

1,021,577

At 31 December 2020

11,544

Cost or valuation at 31 December 2021 is represented by:

Totals

£

Valuation in 2021

456,000

Cost

577,912

1,033,912

If domain names had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

11,834

-

Aggregate amortisation

(7,050

)

-

Domain names were valued on a hidden value basis on 31 December 2021 by the directors with support from valuers .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

326,399

Additions

79,686

At 31 December 2021

406,085

DEPRECIATION

At 1 January 2021

134,355

Charge for year

51,924

At 31 December 2021

186,279

NET BOOK VALUE

At 31 December 2021

219,806

At 31 December 2020

192,044

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable by instalments

Bank loans

-

4,167

Loans

39,854

-

39,854

4,167

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Hire purchase contracts

29,853

33,989

Hire purchase liabilities are secured on the assets to which they relate.

8.

RESERVES

Revaluation

reserve

£

Domain name revaluation

338,416

At 31 December 2021

338,416

Deferred tax of £112,800 has been accounted for on the domain name revaluation surplus of £451,216. Any profit on sale of domain names will be recognised in the profit and loss account at the point of sale.

9.	OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases as at 31 December 2021 of £199,750 (2020 £250,750).

Directors' liabilities arising from the EBT Settlements with HM Revenue & Customs are being paid by the company on the directors' behalf. Amounts have been agreed at approximately £46,000 per annum with final payment in 2024.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

G R Borchard

Balance outstanding at start of year

90,868

77,409

Amounts advanced

12,639

16,263

Amounts repaid

(107,238

)

(2,804

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,731

)

90,868

A D Boddy

Balance outstanding at start of year

81,564

65,505

Amounts advanced

15,015

16,584

Amounts repaid

(98,234

)

(525

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,655

)

81,564

P J Gregg

Balance outstanding at start of year

102,488

88,140

Amounts advanced

13,446

16,237

Amounts repaid

(96,929

)

(1,889

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,005

102,488

No interest is charged on the loans to directors and there are no repayment terms.