Perfect Bathroom Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07289229

Unaudited Financial Statements

for the Year Ended 30 June 2022

for

Perfect Bathroom Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A P Gear

SECRETARY:

A P Gear

REGISTERED OFFICE:

Myrtle House

High Street

Henfield

W Sussex

BN5 9DA

REGISTERED NUMBER:

07289229

ACCOUNTANTS:

Michael Finn & Co

Myrtle House

High Street

HENFIELD

West Sussex

BN5 9DA

FIXED ASSETS

Tangible assets

4

12,545

34,407

CURRENT ASSETS

Stocks

9,000

9,000

Debtors

5

143,531

98,218

Cash at bank

46,896

90,218

199,427

197,436

CREDITORS

Amounts falling due within one year

6

184,710

206,977

NET CURRENT ASSETS/(LIABILITIES)

14,717

(9,541

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,262

24,866

CAPITAL AND RESERVES

Called up share capital

80

80

Retained earnings

27,182

24,786

SHAREHOLDERS' FUNDS

27,262

24,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 10 January 2023 and were signed by:

A P Gear - Director

1.	STATUTORY INFORMATION

Perfect Bathroom Solutions Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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.

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.

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 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2021

3,389

62,308

8,124

73,821

Disposals

-

(23,322

)

-

(23,322

)

At 30 June 2022

3,389

38,986

8,124

50,499

DEPRECIATION

At 1 July 2021

2,619

29,239

7,556

39,414

Charge for year

193

5,352

284

5,829

Eliminated on disposal

-

(7,289

)

-

(7,289

)

At 30 June 2022

2,812

27,302

7,840

37,954

NET BOOK VALUE

At 30 June 2022

577

11,684

284

12,545

At 30 June 2021

770

33,069

568

34,407

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

Motor

vehicles

£

COST

At 1 July 2021

and 30 June 2022

30,736

DEPRECIATION

At 1 July 2021

17,769

Charge for year

3,242

At 30 June 2022

21,011

NET BOOK VALUE

At 30 June 2022

9,725

At 30 June 2021

12,967

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

141,075

96,084

Prepayments and accrued income

2,456

2,134

143,531

98,218

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Other loans

39,352

50,000

Hire purchase contracts

10,422

14,291

Trade creditors

66,526

57,532

Tax

857

3,214

Social security and other taxes

1,527

1,669

Pensions

233

73

VAT

21,253

30,178

Directors' current accounts

41,040

46,520

Accrued expenses

3,500

3,500

184,710

206,977