The Farnham Bathroom Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02732517 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

THE FARNHAM BATHROOM COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Fisher

Mrs D Fisher

Mrs A J Head

SECRETARY:

Mrs D Fisher

REGISTERED OFFICE:

2a Bridge Square

Farnham

Surrey

GU9 7QR

REGISTERED NUMBER:

02732517 (England and Wales)

ACCOUNTANTS:

Tiakyfee Consultants Ltd

5 Dukes Close

Alton

Hampshire

GU34 1PH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

12,088

16,118

Investment property

6

-

400,000

12,088

416,118

CURRENT ASSETS

Stocks

52,454

72,312

Debtors

7

396,400

184,270

Cash at bank

201,563

229,571

650,417

486,153

CREDITORS

Amounts falling due within one year

8

241,525

376,898

NET CURRENT ASSETS

408,892

109,255

TOTAL ASSETS LESS CURRENT LIABILITIES

420,980

525,373

CREDITORS

Amounts falling due after more than one year

9

(212,500

)

-

PROVISIONS FOR LIABILITIES

(2,297

)

(14,087

)

NET ASSETS

206,183

511,286

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Fair value reserve

10

-

51,072

Retained earnings

196,183

450,214

206,183

511,286

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 23 December 2021 and were signed on its behalf by:

Mrs A J Head - Director

1.	STATUTORY INFORMATION

The Farnham Bathroom Company 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1993, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Government grants

Government grants have been received due to the Coronavirus Pandemic. Government grants are revenue based and have been recognised under the accrual model.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, will be measured, initially and subsequently, at the undiscounted amount, unless the transaction is beyond the normal business terms or financed at a rate of interest that is not a market rate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

27,000

AMORTISATION

At 1 April 2020

and 31 March 2021

27,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

and 31 March 2021

42,885

98,121

141,006

DEPRECIATION

At 1 April 2020

42,885

82,003

124,888

Charge for year

-

4,030

4,030

At 31 March 2021

42,885

86,033

128,918

NET BOOK VALUE

At 31 March 2021

-

12,088

12,088

At 31 March 2020

-

16,118

16,118

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

400,000

Disposals

(400,000

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

400,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

133,098

160,315

Amounts owed by group undertakings

241,936

-

Other debtors

21,366

23,955

396,400

184,270

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

37,500

67,531

Trade creditors

106,268

179,237

Taxation and social security

60,247

23,407

Other creditors

37,510

106,723

241,525

376,898

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

212,500

-

10.

RESERVES

Fair

value

reserve

£

At 1 April 2020

51,072

Revaluation to fair value

(51,072

)

At 31 March 2021

-

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.21

31.3.20

£

£

M J Fisher and Mrs D Fisher

Balance outstanding at start of year

9,977

-

Amounts advanced

-

9,977

Amounts repaid

(9,977

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

9,977

Interest was charged at the HMRC rate on the overdrawn loan balances and is recorded within interest received, this amounted to £825 (2020: £1,080)

12.	RELATED PARTY DISCLOSURES

13.	ULTIMATE CONTROLLING PARTY

The controlling party is FBC Property Ltd.

The ultimate controlling parties are M Fisher and A Head, directors and shareholders.of the parent company FBC Property Ltd.