Pure Bathrooms Cambridge Limited - Filleted accounts

Pure Bathrooms Cambridge Limited - Filleted accounts

PURE BATHROOMS CAMBRIDGE LIMITED - Company Information

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Registered number
03454558
Pure Bathrooms Cambridge Limited
Filleted Accounts
31 January 2017
Pure Bathrooms Cambridge Limited
Registered number: 03454558
Balance Sheet
as at 31 January 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 1,211 1,615
Current assets
Stocks 65,000 75,900
Debtors 4 66,781 39,870
Cash at bank and in hand 969 10,068
132,750 125,838
Creditors: amounts falling due within one year 5 (83,098) (89,680)
Net current assets 49,652 36,158
Net assets 50,863 37,773
Capital and reserves
Called up share capital 24 24
Profit and loss account 50,839 37,749
Shareholders' funds 50,863 37,773
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A. Dama
Director
Approved by the board on 17 October 2017
Pure Bathrooms Cambridge Limited
Notes to the Accounts
for the year ended 31 January 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 February 2016 30,125
At 31 January 2017 30,125
Depreciation
At 1 February 2016 28,510
Charge for the year 404
At 31 January 2017 28,914
Net book value
At 31 January 2017 1,211
At 31 January 2016 1,615
4 Debtors 2017 2016
£ £
Trade debtors 55,470 37,141
Other debtors 11,311 2,729
66,781 39,870
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 5,792 -
Trade creditors 64,191 67,776
Corporation tax 1,316 2,003
Other taxes and social security costs 11,799 15,803
Other creditors - 4,098
83,098 89,680
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A. Dama
[Loan 1] - 5,656 - 5,656
F. Mohammadpour
[Loan 1] - 5,656 - 5,656
- 11,312 - 11,312
7 Controlling party
The company is controlled by the Dama family.
8 Other information
Pure Bathrooms Cambridge Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10
Cheddars Lane
Cambridge
CB5 8LD
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