Bathroom Concepts Limited Accounts

BATHROOM CONCEPTS LIMITED - Company Information






Bathroom Concepts Limited
	Company No. 03356840
		Information for Filing with The Registrar
		31 March 2018

The Directors present their report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was the retail and installation of bathroom fittings and accessories.




Directors

The Directors who served at any time during the year were as follows:

J. Edgington
P. Edgington


































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P. Edgington
Director
19 November 2018

at	31 March 2018
Company No.		03356840	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		3	91,616	87,560


				91,616	87,560
Current assets
	Stocks		4	5,000	5,000
	Debtors		5	59,992	45,073

	Cash at bank and in hand			81,274	96,487
				146,266	146,560
Creditors: Amount falling due within one year			6	(71,114)	(74,348)
Net current assets				75,152	72,212
Total assets less current liabilities				166,768	159,772

Provisions for liabilities
	Deferred taxation		7	(2,208)	(1,512)

Net assets				164,560	158,260

Capital and reserves
	Called up share capital			1,000	1,000



	Profit and loss account		8	163,560	157,260

Total equity				164,560	158,260


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 19 November 2018
And signed on its behalf by:
J. Edgington
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Motor vehicles

20% Reducing Balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2018	2017
			Number	Number
		The average number of persons employed during the year :	2	2

3	Tangible fixed assets
			Land and buildings	Motor vehicles	Total
			£	£	£
		Cost or revaluation
		At 1 April 2017	80,000	19,982	99,982
		Additions	-	6,417	6,417


		Disposals	-	(10,532)	(10,532)
		At 31 March 2018	80,000	15,867	95,867
		Depreciation
		At 1 April 2017	-	12,422	12,422
		Charge for the year	-	2,361	2,361


		Disposals	-	(10,532)	(10,532)
		At 31 March 2018	-	4,251	4,251
		Net book values
		At 31 March 2018	80,000	11,616	91,616
		At 31 March 2017	80,000	7,560	87,560

4	Stocks
			2018	2017
			£	£


		Finished goods	5,000	5,000
			5,000	5,000

5	Debtors
			2018	2017
			£	£






		Other debtors	49,083	36,100
		Prepayments and accrued income	10,909	8,973
			59,992	45,073

6	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	44,546	49,096

		Corporation tax	21,690	21,298
		Other taxes and social security	4,878	3,954



			71,114	74,348

7	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 April 2017	1,512	1,512
		Charge to the profit and loss account for the period	696	696

		At 31 March 2018	2,208	2,208



			2018	2017
			£	£
		Accelerated capital allowances	2,208	1,512



			2,208	1,512

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

9	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	89,530	73,600

			89,530	73,600

		Dividends by type:

		Equity dividends	89,530	73,600
			89,530	73,600

Related party disclosures

Controlling party

Immediate controlling party

J. Edgington, P. Edgington

Additional information

Its registered number is:

03356840

Its registered office is:

422 Finchampstead Road

Wokingham

Berkshire

RG11 3RB