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REGISTERED NUMBER: SC390534 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Inverness Bathrooms Limited

Inverness Bathrooms Limited (Registered number: SC390534)

Contents of the Financial Statements
for the year ended 31st March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Inverness Bathrooms Limited

Company Information
for the year ended 31st March 2024







Directors: A C Campbell
S L Ogston





Registered office: 24a Camault Muir
Kiltarlity
Beauly
IV4 7JH





Registered number: SC390534 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Inverness Bathrooms Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inverness Bathrooms Limited for the year ended 31st March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Inverness Bathrooms Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inverness Bathrooms Limited and state those matters that we have agreed to state to the Board of Directors of Inverness Bathrooms Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inverness Bathrooms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Inverness Bathrooms Limited. You consider that Inverness Bathrooms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Inverness Bathrooms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


13th January 2025

Inverness Bathrooms Limited (Registered number: SC390534)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 42,927 53,709

Current assets
Stocks 3,500 4,380
Debtors 5 175,477 203,697
Cash at bank 36,188 110,658
215,165 318,735
Creditors
Amounts falling due within one year 6 177,857 255,440
Net current assets 37,308 63,295
Total assets less current liabilities 80,235 117,004

Creditors
Amounts falling due after more than one year 7 (30,842 ) (57,147 )

Provisions for liabilities (8,710 ) (10,058 )
Net assets 40,683 49,799

Capital and reserves
Called up share capital 2 2
Retained earnings 40,681 49,797
40,683 49,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Inverness Bathrooms Limited (Registered number: SC390534)

Balance Sheet - continued
31st March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th January 2025 and were signed on its behalf by:





A C Campbell - Director


Inverness Bathrooms Limited (Registered number: SC390534)

Notes to the Financial Statements
for the year ended 31st March 2024


1. Statutory information

Inverness Bathrooms Limited is a private company, limited by shares , registered in Scotland. 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.

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 - straight line over 3 years and 25% 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 Statement of Income and Retained Earnings, 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.

Inverness Bathrooms Limited (Registered number: SC390534)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


2. Accounting policies - continued

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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 17 (2023 - 15 ) .

4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st April 2023 3,366 106,485 4,606 114,457
Additions - 7,500 - 7,500
Disposals - (10,500 ) - (10,500 )
At 31st March 2024 3,366 103,485 4,606 111,457
Depreciation
At 1st April 2023 3,082 53,831 3,835 60,748
Charge for year 70 14,065 257 14,392
Eliminated on disposal - (6,610 ) - (6,610 )
At 31st March 2024 3,152 61,286 4,092 68,530
Net book value
At 31st March 2024 214 42,199 514 42,927
At 31st March 2023 284 52,654 771 53,709

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 73,598 64,770
Amounts recoverable on contract 73,041 112,237
Other debtors 28,838 26,690
175,477 203,697

Inverness Bathrooms Limited (Registered number: SC390534)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 9,960 9,712
Hire purchase contracts 17,154 25,342
Trade creditors 97,931 167,081
Taxation and social security 40,534 48,144
Other creditors 12,278 5,161
177,857 255,440

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 12,475 22,683
Hire purchase contracts 18,367 34,464
30,842 57,147

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 35,521 -

The hire purchase is secured on the assets to which it relates.

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
S L Ogston and A C Campbell
Balance outstanding at start of year 7,896 (1,143 )
Amounts advanced 52,937 13,039
Amounts repaid (43,568 ) (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,265 7,896