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REGISTERED NUMBER: 02246807 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DRUMMONDS BATHROOMS LTD.

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DRUMMONDS BATHROOMS LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: S P Whitby
J J Lentaigne
A H Scott





SECRETARY: S P Whitby





REGISTERED OFFICE: Unit 2C Henley Business Park
Pirbright Road
Normandy
Guildford
Surrey
GU3 2DX





REGISTERED NUMBER: 02246807 (England and Wales)





AUDITORS: A & N (Haslemere) Limited - Statutory Auditors
Aruna House
2 Kings Road
Haslemere
Surrey
GU27 2QA

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

STATEMENT OF FINANCIAL POSITION
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 3 1,625,902 1,676,923
Investments 4 766,644 766,644
2,392,546 2,443,567

CURRENT ASSETS
Stocks 2,082,318 1,811,427
Debtors 5 133,338 136,754
Cash at bank and in hand 2,393,476 1,791,567
4,609,132 3,739,748
CREDITORS
Amounts falling due within one year 6 2,747,297 2,627,329
NET CURRENT ASSETS 1,861,835 1,112,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,254,381

3,555,986

CREDITORS
Amounts falling due after more than one
year

7

(342,545

)

(365,348

)

PROVISIONS FOR LIABILITIES (208,793 ) (216,515 )
NET ASSETS 3,703,043 2,974,123

CAPITAL AND RESERVES
Called up share capital 9 678,271 678,271
Share premium 587,871 587,871
Revaluation reserve 753,536 753,536
Retained earnings 1,683,365 954,445
SHAREHOLDERS' FUNDS 3,703,043 2,974,123

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 17 April 2025 and were signed on its behalf by:





S P Whitby - Director


DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. 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 as modified by the revaluation of certain assets.

The accounts are presented in sterling (rounded to nearest £1) which is the functional currency of the company.

Preparation of consolidated financial statements
The financial statements contain information about Drummonds Bathrooms Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Revenue is recognised in accordance to the goods or services being supplied. This is usually the date of supply. Where goods are ordered in advance of supply an initial non-refundable deposit is issued and recognised at the date of order, and further invoices are issued and recognised at the date goods first become available for delivery.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Long leasehold - in accordance with the life of the lease
Motor Vehicles - 25% on cost
All other fixed assets - 20% on cost

Land and buildings were valued at 10 April 2019 by Curchod & Co.The Directors consider that there would not be any material difference to the current market value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised initially at cost and then assessed annually for any impairment below cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 statement of financial position date.

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the profit and loss accounts.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the Company or the individual's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 18 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2024 1,860,878 40,258 198,503
Additions - 14,046 -
At 31 December 2024 1,860,878 54,304 198,503
DEPRECIATION
At 1 January 2024 224,224 29,408 196,753
Charge for year 44,845 8,893 1,750
At 31 December 2024 269,069 38,301 198,503
NET BOOK VALUE
At 31 December 2024 1,591,809 16,003 -
At 31 December 2023 1,636,654 10,850 1,750

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

3. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 48,289 37,574 2,185,502
Additions - - 14,046
At 31 December 2024 48,289 37,574 2,199,548
DEPRECIATION
At 1 January 2024 32,495 25,699 508,579
Charge for year 5,574 4,005 65,067
At 31 December 2024 38,069 29,704 573,646
NET BOOK VALUE
At 31 December 2024 10,220 7,870 1,625,902
At 31 December 2023 15,794 11,875 1,676,923

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Valuation in 2015 300,000 - -
Valuation in 2018 560,350 - -
Cost 1,000,528 54,304 198,503
1,860,878 54,304 198,503

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2015 - - 300,000
Valuation in 2018 - - 560,350
Cost 48,289 37,574 1,339,198
48,289 37,574 2,199,548

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

4. FIXED ASSET INVESTMENTS
Unlisted
investments
in
subsiary
companies
£   
COST
At 1 January 2024
and 31 December 2024 766,644
NET BOOK VALUE
At 31 December 2024 766,644
At 31 December 2023 766,644

5. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 8,236 5,894
Amounts owed by group undertakings - 5,874
Other debtors 61,102 60,986
69,338 72,754

Amounts falling due after more than one year:
Other debtors 64,000 64,000

Aggregate amounts 133,338 136,754

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 23,580 23,580
Trade creditors 87,868 67,584
Taxation and social security 591,512 655,239
Other creditors 2,044,337 1,880,926
2,747,297 2,627,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 342,545 365,348

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 241,725 264,528

DRUMMONDS BATHROOMS LTD. (REGISTERED NUMBER: 02246807)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 366,125 388,928

HSBC Bank PLC holds a charge over all monies and liabilities whatever, whenever and howsoever incurred by the Company whether now or in the future.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
678,271 Ordinary £1 678,271 678,271

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

The Report of the Auditors was unqualified.

Mrs Anugrah Sharma (Senior Statutory Auditor)
for and on behalf of A & N (Haslemere) Limited - Statutory Auditors

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
D J H Shaw
Balance outstanding at start of year - 425,162
Amounts repaid - (425,162 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

During the year interest was charged at the advisory rate for the advances made.