SOVEREIGN BATHROOMS WINCHESTER LTD

SOVEREIGN BATHROOMS WINCHESTER LTD - Company Information

2020-07-012021-06-302021-06-30false10741333SOVEREIGN BATHROOMS WINCHESTER 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Registered Number
10741333
(England and Wales)

Unaudited Financial Statements for the Year Ended
30 June 2021

SOVEREIGN BATHROOMS WINCHESTER LTD

Company Information
for the year from 1 July 2020 to 30 June 2021


Directors	BIFFIN, Paul Christopher


Registered Address	7 Chesil Street
	Winchester
	SO23 0HU


Registered Number	10741333 (England and Wales)

SOVEREIGN BATHROOMS WINCHESTER LTD

Balance Sheet as at
30 June 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	5		13,233		26,465
			13,233		26,465
Current assets
Debtors	6	15,814		27,905
Cash at bank and on hand		111,024		75,739
		126,838		103,644
Creditors amounts falling due within one year	7	(68,417)		(40,421)
Net current assets (liabilities)			58,421		63,223
Total assets less current liabilities			71,654		89,688
Creditors amounts falling due after one year	8		(52,358)		(72,205)
Net assets			19,296		17,483
Capital and reserves
Called up share capital			2		2
Profit and loss account			19,294		17,481
Shareholders' funds			19,296		17,483

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 8 October 2021, and are signed on its behalf by:

BIFFIN, Paul Christopher
Director
Registered Company No. 10741333

SOVEREIGN BATHROOMS WINCHESTER LTD

Notes to the Financial Statements
for the year ended 30 June 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Straight line (years)
	Fixtures and fittings	5

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	EMPLOYEE INFORMATION

		2021		2020
	Average number of employees during the year	2		2

5.	PROPERTY, PLANT AND EQUIPMENT

	Fixtures & fittings £	Total £
Cost or valuation
At 01 July 20	66,161	66,161
At 30 June 21	66,161	66,161
Depreciation and impairment
At 01 July 20	39,696	39,696
Charge for year	13,232	13,232
At 30 June 21	52,928	52,928
Net book value
At 30 June 21	13,233	13,233
At 30 June 20	26,465	26,465

6.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2021 £	2020 £
Trade debtors / trade receivables	-	14,311
Other debtors	11,697	9,594
Prepayments and accrued income	4,117	4,000
Total	15,814	27,905

7.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2021 £	2020 £
Trade creditors / trade payables	29,792	12,434
Taxation and social security	38,607	27,400
Other creditors	18	587
Total	68,417	40,421

8.	CREDITORS AFTER ONE YEAR

	2021 £	2020 £
Bank borrowings and overdrafts	49,113	50,000
Other creditors	3,245	22,205
Total	52,358	72,205