Clearwater Bathrooms Ltd - Limited company - abbreviated

REGISTERED NUMBER: SC262327 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

CLEARWATER BATHROOMS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

I A McMillan

SECRETARY:

Mrs H F McMillan

REGISTERED OFFICE:

6th Floor, Gordon Chambers

90 Mitchell Street

Glasgow

G1 3NQ

REGISTERED NUMBER:

SC262327 (Scotland)

ACCOUNTANTS:

Henderson Loggie

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Tangible assets

2

115

153

CURRENT ASSETS

Stocks

35,464

33,752

Debtors

142,290

137,890

Cash at bank

15,333

30,638

193,087

202,280

CREDITORS

Amounts falling due within one year

153,254

175,520

NET CURRENT ASSETS

39,833

26,760

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,948

26,913

CAPITAL AND RESERVES

Called up share capital

3

214

Profit and loss account

39,734

26,699

SHAREHOLDERS' FUNDS

39,948

26,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 January 2015 and were signed by:

I A McMillan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the amounts derived from the provision of goods and services which fall within the

company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

Tangible fixed assets

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

Fixtures and fittings

-

25% on a reducing balance basis

Computer equipment

-

33% on a straight line basis

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

The tax expense represents the sum of the corporation tax and deferred tax charge for the year.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is

calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is measured on differences between the carrying amounts of assets and liabilities in the accounts

and the corresponding tax bases, as used in the computation of taxable profit. Deferred tax liabilities are

generally recognised for all temporary timing differences that have originated but not reversed by the balance

sheet date and are not recognised as permanent differences. Deferred tax assets are recognised to the extent that

it is probable that taxable profits will be available in the future. Deferred tax is calculated at the average tax

rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on

tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is

charged or credited in the profit and loss account, except when it relates to items charged or credited directly to

equity, in which case the deferred tax is also dealt with in equity.'

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

2,230

DEPRECIATION

At 1 April 2013

2,077

Charge for year

38

At 31 March 2014

2,115

NET BOOK VALUE

At 31 March 2014

115

At 31 March 2013

153

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

210

Ordinary shares

£1

210

4

Ordinary A to J shares

£1

4

214

4.	ULTIMATE PARENT COMPANY

The ultimate parent company of Clearwater Bathrooms Limited is Clearwater Group Scotland Ltd, a company

registered in Scotland.

Clearwater Bathrooms Ltd - Limited company - abbreviated - 11.6

Clearwater Bathrooms Ltd - Limited company - abbreviated - 11.6