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REGISTERED NUMBER: 07406802 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

IMEX CERAMICS UK LTD

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


IMEX CERAMICS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: G W Wickens
B Wickens





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 07406802 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
Imex Ceramics UK Limited is part of a well established and reputable group that manufactures and distributes bathroom furniture and fittings to its customers all over the UK from its main location in the South East of England and another location in the Midlands.

Turnover has decreased by 0.75% this year, the Gross Profit margin has increased this year from 41.21% in the previous year to 45.48% in the current year. Net Operating Profit margin has decreased from 3.48% to 1.55%.

Key performance indicators for the year:

2024 2023
£ £
Turnover 12,127,811 12,218,958
Gross Profit 5,515,149 5,034,832
Operating Profit 157,785 332,380
Gross Assets 7,316,217 7,717,361
Net Assets 1,295,059 1,267,274

Normalised earnings before interest, tax, depreciation and amortisation ('EBITDA') for the company is shown below:

2024 2023
£ £
Operating Profit 157,785 332,380
Interest received - -
Interest paid 3,397 2,077
Tax 30,770 92,989
Depreciation 82,479 61,374
Amortisation - -
EBITDA 274,431 488,820

The directors have considered the potential implications of the current economic climate, taking into account the Russia/Ukraine conflict and rising inflation, and its impact on costs.

The Directors were satisfied with the performance of the group in these tough economic conditions and are positive about the coming year's trade.

ON BEHALF OF THE BOARD:





G W Wickens - Director


9 May 2025

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture and distribution of bathroom furniture and fittings.

DIVIDENDS
Total dividends of £130,000 have been declared for the year ended 31 August 2024.

The total distribution of dividends for the year ended 31 August 2024 will be £130,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

G W Wickens
B Wickens

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


AUDITORS
The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




G W Wickens - Director


9 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMEX CERAMICS UK LTD

Opinion
We have audited the financial statements of Imex Ceramics UK Ltd (the 'company') for the year ended 31 August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMEX CERAMICS UK LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMEX CERAMICS UK LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Prior to engagement the following audit procedures are considered:
- Identification of laws and regulations being significant in the context of the entity;
- Understanding the entity's current activities, the scope of its authorisation and the effectiveness of its control environment where the entity is a regulated entity;
- Determining any key audit matters that require further explanation;
- In the case of a group, how the auditor addressed these matters at both at the group and component levels;
- communications with the engagement team and, where relevant, component auditors regarding non-compliance with laws and regulations and fraud.
Audit procedures performed by the engagement team to detect irregularities, including fraud from instances of non-compliance with laws and regulations included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Reading key correspondence from regulatory bodies;
- Challenging assumptions and judgements made by management in it's significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We focused on the valuation of provisions for bad debts, obselete stock, and rebates, and the assessment of impairment of intangible and tangible assets;
- Consideration of recent correspondence with the companies legal advisors to ensure that it aligned with the conclusions drawn on obligations recognised in respect of uncertain legal matters;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations or those posted by unexpected users; and
- Testing all material consolidation adjustments to ensure these were appropriate in nature and magnitude;
- Communicating with component auditors any matters which arise, and disclosing any instances of
non-compliance or fraud, in addition to testing inter-group transactions and amounts owed by/(to) any group companies;
- Reviewing relevant meeting minutes including those of the board of directors
- Testing transactions entered into that are outside of the normal course of the Company's business.
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards), and from inspection of the group's regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IMEX CERAMICS UK LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

9 May 2025

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 12,127,811 12,218,958

Cost of sales (6,612,662 ) (7,184,126 )
GROSS PROFIT 5,515,149 5,034,832

Distribution costs (902,496 ) (1,010,673 )
Administrative expenses (4,420,701 ) (3,596,713 )
OPERATING PROFIT 4 191,952 427,446


Interest payable and similar expenses 5 (3,397 ) (2,077 )
PROFIT BEFORE TAXATION 188,555 425,369

Tax on profit 6 (30,770 ) (92,989 )
PROFIT FOR THE FINANCIAL YEAR 157,785 332,380

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

157,785

332,380

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 8 247,434 184,106

CURRENT ASSETS
Stocks 9 2,857,240 3,546,071
Debtors 10 3,124,906 2,672,352
Cash at bank and in hand 1,086,637 1,314,832
7,068,783 7,533,255
CREDITORS
Amounts falling due within one year 11 (5,906,156 ) (6,374,824 )
NET CURRENT ASSETS 1,162,627 1,158,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,410,061

1,342,537

CREDITORS
Amounts falling due after more than one
year

12

(56,881

)

(33,212

)

PROVISIONS FOR LIABILITIES 14 (58,121 ) (42,051 )
NET ASSETS 1,295,059 1,267,274

CAPITAL AND RESERVES
Called up share capital 15 999 999
Retained earnings 16 1,294,060 1,266,275
SHAREHOLDERS' FUNDS 1,295,059 1,267,274

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





G W Wickens - Director


IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 999 1,083,895 1,084,894

Changes in equity
Dividends - (150,000 ) (150,000 )
Total comprehensive income - 332,380 332,380
Balance at 31 August 2023 999 1,266,275 1,267,274

Changes in equity
Dividends - (130,000 ) (130,000 )
Total comprehensive income - 157,785 157,785
Balance at 31 August 2024 999 1,294,060 1,295,059

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Imex Ceramics UK Ltd is a private company, limited by shares , registered in England and Wales. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,198,431 1,842,082
Social security costs 209,365 145,829
Other pension costs 44,848 28,025
2,452,644 2,015,936

The average number of employees during the year was as follows:
2024 2023

Direct 61 51
Indirect 10 7
Directors 1 1
72 59

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 59,104 52,083

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 25,267 25,979
Other operating leases 328,259 250,621
Depreciation - owned assets 55,141 48,774
Depreciation - assets on hire purchase contracts 27,338 12,600

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 3,397 2,077

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 31,416 67,633
Taxation prior year adjustment (16,716 ) 194
Total current tax 14,700 67,827

Deferred tax 16,070 25,162
Tax on profit 30,770 92,989

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 188,555 425,369
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 21.515%)

47,139

91,518

Effects of:
Expenses not deductible for tax purposes 348 1,442
Capital allowances in excess of depreciation (16,071 ) (25,328 )
Adjustments to tax charge in respect of previous periods (16,716 ) 194
Deferred tax movement 16,070 25,163
Total tax charge 30,770 92,989

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 130,000 150,000

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 87,831 1,750 180,043 269,624
Additions 10,380 43,872 91,555 145,807
At 31 August 2024 98,211 45,622 271,598 415,431
DEPRECIATION
At 1 September 2023 36,120 1,012 48,386 85,518
Charge for year 15,524 11,152 55,803 82,479
At 31 August 2024 51,644 12,164 104,189 167,997
NET BOOK VALUE
At 31 August 2024 46,567 33,458 167,409 247,434
At 31 August 2023 51,711 738 131,657 184,106

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 67,200 - 67,200
Additions - 71,560 71,560
At 31 August 2024 67,200 71,560 138,760
DEPRECIATION
At 1 September 2023 29,400 - 29,400
Charge for year 9,450 17,888 27,338
At 31 August 2024 38,850 17,888 56,738
NET BOOK VALUE
At 31 August 2024 28,350 53,672 82,022
At 31 August 2023 37,800 - 37,800

9. STOCKS
2024 2023
£    £   
Finished goods 2,857,240 3,546,071

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,475,635 2,367,868
Other debtors 261,563 47,995
Directors' current accounts 13,311 -
Prepayments and accrued income 374,397 256,489
3,124,906 2,672,352

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 35,178 13,299
Trade creditors 899,210 643,938
Amounts owed to group undertakings 4,361,763 5,044,071
Tax 31,416 67,633
Social security and other taxes 48,369 35,156
VAT 196,304 242,211
Other creditors 231,906 275,577
Accrued expenses 102,010 52,939
5,906,156 6,374,824

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 56,881 33,212

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 35,178 13,299
Between one and five years 56,881 33,212
92,059 46,511

Non-cancellable operating leases
2024 2023
£    £   
Within one year 333,529 -
Between one and five years 347,028 -
In more than five years 122,500 -
803,057 -

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 58,121 42,051

Deferred
tax
£   
Balance at 1 September 2023 42,051
Provided during year 16,070
Balance at 31 August 2024 58,121

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
999 Ordinary £1 999 999

IMEX CERAMICS UK LTD (REGISTERED NUMBER: 07406802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

16. RESERVES
Retained
earnings
£   

At 1 September 2023 1,266,275
Profit for the year 157,785
Dividends (130,000 )
At 31 August 2024 1,294,060

17. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end the company is due £122,664 from companies under common control (2023: £86,939). The company owed £151,697 to companies under common control (2023: £150,378).

At the year end the company owed Pura Bathrooms £4,361,763 (2023: £5,044,071). Pura Bathrooms is the parent company of Imex Ceramics ltd.