The Kitchen, Bathroom and Bedroom Specia - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01380740 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

THE KITCHEN, BATHROOM AND BEDROOM

SPECIALISTS ASSOCIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A P J Bird

Mrs A M Bower

Mrs C Cooper

R Hibbert

K J Wilson

M C Butler

REGISTERED OFFICE:

Mansfield Innovation Centre

Oakham Business Park

Hamilton Way

Mansfield

Nottinghamshire

NG18 5BR

REGISTERED NUMBER:

01380740 (England and Wales)

AUDITORS:

Baverstocks Limited

Statutory Auditor

Chartered Accountants

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

FIXED ASSETS

Tangible assets

4

734

942

CURRENT ASSETS

Stocks

1,917

1,985

Debtors

5

12,687

18,121

Cash at bank

291,177

179,754

305,781

199,860

CREDITORS

Amounts falling due within one year

6

96,631

54,633

NET CURRENT ASSETS

209,150

145,227

TOTAL ASSETS LESS CURRENT LIABILITIES

209,884

146,169

RESERVES

Income and expenditure account

209,884

146,169

209,884

146,169

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 21 April 2022 and were signed on its behalf by:

R Hibbert - Director

1.	STATUTORY INFORMATION

The Kitchen, Bathroom and Bedroom Specialists Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no estimates and assumptions that have a significant risk of causing material adjustment in the financial statements.

Income

Income is accrued in the financial statements in the period to which they relate.

Income includes membership subscription fees and AGM and event sponsorship, and these are recognised as income in the period to which they relate.

Income excludes VAT where applicable.

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

-

20% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2020

and 31 July 2021

12,470

DEPRECIATION

At 1 August 2020

11,528

Charge for year

208

At 31 July 2021

11,736

NET BOOK VALUE

At 31 July 2021

734

At 31 July 2020

942

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

2,350

14,825

Other debtors

10,337

3,296

12,687

18,121

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

21,542

26,486

Taxation and social security

6,045

2,416

Other creditors

69,044

25,731

96,631

54,633

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Lawrence (Senior Statutory Auditor)

for and on behalf of Baverstocks Limited

8.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9.	LIMITED BY GUARANTEE

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.