New World Bathrooms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05933886 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

NEW WORLD BATHROOMS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Thompson

SECRETARY:

J A Thompson

REGISTERED OFFICE:

3 Windsor Road

Redditch

Worcestershire

B97 6DJ

REGISTERED NUMBER:

05933886 (England and Wales)

ACCOUNTANTS:

Burman & Co

Brunswick House

Birmingham Road

Redditch

Worcestershire

B97 6DY

FIXED ASSETS

Tangible assets

4

6,672

15,471

CURRENT ASSETS

Stocks

142,000

83,000

Debtors

54,440

47,830

Cash at bank

-

6,687

196,440

137,517

CREDITORS

Amounts falling due within one year

48,921

106,956

NET CURRENT ASSETS

147,519

30,561

TOTAL ASSETS LESS CURRENT LIABILITIES

154,191

46,032

CREDITORS

Amounts falling due after more than one year

5

113,767

5,556

NET ASSETS

40,424

40,476

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

40,324

40,376

SHAREHOLDERS' FUNDS

40,424

40,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2020 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 director and authorised for issue on 13 September 2021 and were signed by:

J A Thompson - Director

1.	STATUTORY INFORMATION

New World 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.	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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2019

40,903

Additions

8,416

Disposals

(29,495

)

At 30 November 2020

19,824

DEPRECIATION

At 1 December 2019

25,432

Charge for year

2,267

Eliminated on disposal

(14,547

)

At 30 November 2020

13,152

NET BOOK VALUE

At 30 November 2020

6,672

At 30 November 2019

15,471

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 December 2019

14,495

Additions

8,000

Transfer to ownership

(14,495

)

At 30 November 2020

8,000

DEPRECIATION

At 1 December 2019

7,550

Charge for year

2,101

Transfer to ownership

(7,984

)

At 30 November 2020

1,667

NET BOOK VALUE

At 30 November 2020

6,333

At 30 November 2019

6,945

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.11.20

30.11.19

£

£

Repayable by instalments

Bank loans - more than 5 years

16,042

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.20

30.11.19

£

£

Bank overdrafts

5,330

61,941

Bank loans

110,000

-

Hire purchase contracts

6,593

8,455

121,923

70,396

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 were paid to the director .