IRIS Accounts Production v25.1.0.734 NI657913 director 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6579132023-12-31NI6579132024-12-31NI6579132024-01-012024-12-31NI6579132022-12-31NI6579132023-01-012023-12-31NI6579132023-12-31NI657913ns15:NorthernIreland2024-01-012024-12-31NI657913ns14:PoundSterling2024-01-012024-12-31NI657913ns10:Director12024-01-012024-12-31NI657913ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31NI657913ns10:SmallEntities2024-01-012024-12-31NI657913ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-31NI657913ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31NI657913ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31NI657913ns10:FullAccounts2024-01-012024-12-31NI657913ns10:RegisteredOffice2024-01-012024-12-31NI657913ns5:CurrentFinancialInstruments2024-12-31NI657913ns5:CurrentFinancialInstruments2023-12-31NI657913ns5:Non-currentFinancialInstruments2024-12-31NI657913ns5:Non-currentFinancialInstruments2023-12-31NI657913ns5:ShareCapital2024-12-31NI657913ns5:ShareCapital2023-12-31NI657913ns5:RetainedEarningsAccumulatedLosses2024-12-31NI657913ns5:RetainedEarningsAccumulatedLosses2023-12-31NI657913ns5:PlantMachinery2024-01-012024-12-31NI657913ns5:MotorVehicles2024-01-012024-12-31NI657913ns5:ComputerEquipment2024-01-012024-12-31NI657913ns5:PlantMachinery2023-12-31NI657913ns5:MotorVehicles2023-12-31NI657913ns5:ComputerEquipment2023-12-31NI657913ns5:PlantMachinery2024-12-31NI657913ns5:MotorVehicles2024-12-31NI657913ns5:ComputerEquipment2024-12-31NI657913ns5:PlantMachinery2023-12-31NI657913ns5:MotorVehicles2023-12-31NI657913ns5:ComputerEquipment2023-12-31NI657913ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-31NI657913ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-012024-12-31NI657913ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-12-31NI657913ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-31NI657913ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-31NI657913ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: NI657913 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Loughshore Bathrooms Limited

Loughshore Bathrooms Limited (Registered number: NI657913)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Loughshore Bathrooms Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: A Boyce





REGISTERED OFFICE: Parkview House
67 Tandragee Road
Gilford
Co. Armagh
BT63 6HP





REGISTERED NUMBER: NI657913 (Northern Ireland)





ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

Loughshore Bathrooms Limited (Registered number: NI657913)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 183,188 111,646

CURRENT ASSETS
Stocks 314,395 239,932
Debtors 5 580,956 559,761
Cash at bank 433,419 403,994
1,328,770 1,203,687
CREDITORS
Amounts falling due within one year 6 525,253 540,588
NET CURRENT ASSETS 803,517 663,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

986,705

774,745

CREDITORS
Amounts falling due after more than one
year

7

(99,690

)

(57,100

)

PROVISIONS FOR LIABILITIES (45,797 ) (27,912 )
NET ASSETS 841,218 689,733

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 841,118 689,633
841,218 689,733

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

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

Loughshore Bathrooms Limited (Registered number: NI657913)

Balance Sheet - continued
31 December 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 director and authorised for issue on 25 April 2025 and were signed by:





A Boyce - Director


Loughshore Bathrooms Limited (Registered number: NI657913)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Loughshore Bathrooms Limited is a private company, limited by shares , registered in Northern Ireland. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on Reducing Balance
Motor vehicles - 25% on Reducing Balance
Computer equipment - 25% on Reducing Balance

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

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 receivable/payable within one year
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 ar 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 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.


Loughshore Bathrooms Limited (Registered number: NI657913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

Loughshore Bathrooms Limited (Registered number: NI657913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 25,999 150,750 2,717 179,466
Additions 1,400 107,400 303 109,103
At 31 December 2024 27,399 258,150 3,020 288,569
DEPRECIATION
At 1 January 2024 12,059 53,929 1,832 67,820
Charge for year 3,720 33,581 260 37,561
At 31 December 2024 15,779 87,510 2,092 105,381
NET BOOK VALUE
At 31 December 2024 11,620 170,640 928 183,188
At 31 December 2023 13,940 96,821 885 111,646

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024 104,200
Additions 107,400
At 31 December 2024 211,600
DEPRECIATION
At 1 January 2024 23,849
Charge for year 29,463
At 31 December 2024 53,312
NET BOOK VALUE
At 31 December 2024 158,288
At 31 December 2023 80,351

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 578,354 556,873
Prepayments 2,602 2,888
580,956 559,761

Loughshore Bathrooms Limited (Registered number: NI657913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 37,545 14,947
Trade creditors 230,394 254,581
Taxation and social security 128,794 145,110
Other creditors 118,520 115,950
525,253 540,588

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 4,167 14,167
Hire purchase contracts 95,523 42,933
99,690 57,100