IRIS Accounts Production v25.1.0.734 05142417 director 31.8.24 1.9.23 31.8.24 31.8.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. the manufacture and distribution of bathroom furniture and fittings. true true false true true false false true false Ordinary 0 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REGISTERED NUMBER: 05142417 (England and Wales)













GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PURA BATHROOMS LIMITED

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


PURA BATHROOMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: G W Wickens





SECRETARY: A L Wickens





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





REGISTERED NUMBER: 05142417 (England and Wales)





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

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The director presents his strategic report of the company and the group for the year ended 31 August 2024.

REVIEW OF BUSINESS
Pura Bathrooms Limited is a well established and reputable group of companies 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 1.19% this year, the Gross Profit margin has increased this year from 41.48% in the previous year to 45.36% in the current year. Net Operating Profit margin has decreased from 3.49% to 2.06%.

Key performance indicators for the year:

2024 2023
£ £
Turnover 12,128,486 12,274,943
Gross Profit 5,501,038 5,091,389
Operating Profit 188,698 332,875
Gross Assets 10,916,002 10,597,016
Net Assets 8,595,510 8,550,372

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

2024 2023
£ £
Operating Profit 188,698 332,875
Interest received - -
Interest paid 7,944 10,185
Tax 61,013 95,337
Depreciation 157,112 128,969
Amortisation - -
EBITDA 414,767 567,366

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.

PRINCIPAL RISKS AND UNCERTAINTIES
As with any business the company faces various risks such as competition from other retailers, exchange rate fluctuations and the risk associated with any potential economic downturn. However, the company is well positioned to deal with any of these potential risks.

ON BEHALF OF THE BOARD:





Director


9 May 2025

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 AUGUST 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 August 2024.

DIVIDENDS
Interim dividends were paid during the year of £143,560.

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2024 was £143,560.

DIRECTOR
G W Wickens held office during the whole of the period from 1 September 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

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
PURA BATHROOMS LIMITED

Opinion
We have audited the financial statements of Pura Bathrooms Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 August 2024 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PURA BATHROOMS LIMITED


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

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PURA BATHROOMS LIMITED


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
PURA BATHROOMS LIMITED


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

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 12,128,486 12,274,943

Cost of sales (6,627,448 ) (7,183,554 )
GROSS PROFIT 5,501,038 5,091,389

Distribution costs (902,496 ) (1,009,506 )
Administrative expenses (4,348,182 ) (3,643,489 )
OPERATING PROFIT 4 250,360 438,394

Interest receivable and similar income 7,295 -
257,655 438,394

Interest payable and similar expenses 5 (7,944 ) (10,185 )
PROFIT BEFORE TAXATION 249,711 428,209

Tax on profit 6 (61,013 ) (95,336 )
PROFIT FOR THE FINANCIAL YEAR 188,698 332,873

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

188,698

332,873

Profit attributable to:
Owners of the parent 188,698 332,873

Total comprehensive income attributable to:
Owners of the parent 188,698 332,873

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

CONSOLIDATED BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 9 2,721,781 2,702,929
Investments 10 - -
2,721,781 2,702,929

CURRENT ASSETS
Stocks 11 2,885,212 3,586,759
Debtors 12 3,423,948 2,821,888
Cash at bank and in hand 1,885,061 1,485,440
8,194,221 7,894,087
CREDITORS
Amounts falling due within one year 13 (1,845,665 ) (1,593,119 )
NET CURRENT ASSETS 6,348,556 6,300,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,070,337

9,003,897

CREDITORS
Amounts falling due after more than one
year

14

(56,881

)

(43,366

)

PROVISIONS FOR LIABILITIES 18 (417,946 ) (410,161 )
NET ASSETS 8,595,510 8,550,370

CAPITAL AND RESERVES
Called up share capital 19 10,050 10,050
Share premium 20 8,850 8,850
Revaluation reserve 20 855,747 855,747
Capital redemption reserve 20 100 100
Retained earnings 20 7,720,763 7,675,623
SHAREHOLDERS' FUNDS 8,595,510 8,550,370

The financial statements were approved by the director and authorised for issue on 9 May 2025 and were signed by:





G W Wickens - Director


PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

COMPANY BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 9 2,474,347 2,518,823
Investments 10 999 999
2,475,346 2,519,822

CURRENT ASSETS
Stocks 11 27,972 40,688
Debtors 12 4,660,807 5,224,450
Cash at bank and in hand 798,424 170,609
5,487,203 5,435,747
CREDITORS
Amounts falling due within one year 13 (301,274 ) (293,208 )
NET CURRENT ASSETS 5,185,929 5,142,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,661,275

7,662,361

CREDITORS
Amounts falling due after more than one
year

14

-

(10,154

)

PROVISIONS FOR LIABILITIES 18 (359,825 ) (368,110 )
NET ASSETS 7,301,450 7,284,097

CAPITAL AND RESERVES
Called up share capital 19 10,050 10,050
Share premium 20 8,850 8,850
Revaluation reserve 20 855,747 855,747
Capital redemption reserve 20 100 100
Retained earnings 20 6,426,703 6,409,350
SHAREHOLDERS' FUNDS 7,301,450 7,284,097

Company's profit for the financial year 160,913 150,495

The financial statements were approved by the director and authorised for issue on 9 May 2025 and were signed by:





G W Wickens - Director


PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 September 2022 10,050 7,480,871 8,850

Changes in equity
Dividends - (138,121 ) -
Total comprehensive income - 332,873 -
Balance at 31 August 2023 10,050 7,675,623 8,850

Changes in equity
Dividends - (143,560 ) -
Total comprehensive income - 188,698 -
Balance at 31 August 2024 10,050 7,720,761 8,850
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   
Balance at 1 September 2022 855,747 100 8,355,618

Changes in equity
Dividends - - (138,121 )
Total comprehensive income - - 332,873
Balance at 31 August 2023 855,747 100 8,550,370

Changes in equity
Dividends - - (143,560 )
Total comprehensive income - - 188,698
Balance at 31 August 2024 855,747 100 8,595,508

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 September 2022 10,050 6,396,976 8,850

Changes in equity
Dividends - (138,121 ) -
Total comprehensive income - 150,495 -
Balance at 31 August 2023 10,050 6,409,350 8,850

Changes in equity
Dividends - (143,560 ) -
Total comprehensive income - 160,913 -
Balance at 31 August 2024 10,050 6,426,703 8,850
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   
Balance at 1 September 2022 855,747 100 7,271,723

Changes in equity
Dividends - - (138,121 )
Total comprehensive income - - 150,495
Balance at 31 August 2023 855,747 100 7,284,097

Changes in equity
Dividends - - (143,560 )
Total comprehensive income - - 160,913
Balance at 31 August 2024 855,747 100 7,301,450

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 832,770 1,131,270
Interest paid (4,505 ) (7,372 )
Interest element of hire purchase
payments paid

(3,439

)

(2,860

)
Finance costs paid 159 -
Tax paid (50,915 ) (133,308 )
Net cash from operating activities 774,070 987,730

Cash flows from investing activities
Purchase of tangible fixed assets (176,798 ) (314,057 )
Interest received 7,295 -
Net cash from investing activities (169,503 ) (314,057 )

Cash flows from financing activities
Loan repayments in year (83,393 ) (78,387 )
New HPs in year 86,902 -
Capital repayments in year (51,584 ) (42,203 )
Amount withdrawn by directors (13,311 ) -
Equity dividends paid (143,560 ) (138,121 )
Net cash from financing activities (204,946 ) (258,711 )

Increase in cash and cash equivalents 399,621 414,962
Cash and cash equivalents at
beginning of year

2

1,485,440

1,070,478

Cash and cash equivalents at end of
year

2

1,885,061

1,485,440

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 249,711 428,209
Depreciation charges 156,486 128,969
Loss on disposal of fixed assets 1,459 -
Tax movements 7,785 10,185
Finance costs 7,944 10,185
Finance income (7,295 ) -
416,090 577,548
Decrease in stocks 701,547 60,690
(Increase)/decrease in trade and other debtors (588,747 ) 757,853
Increase/(decrease) in trade and other creditors 303,880 (264,821 )
Cash generated from operations 832,770 1,131,270

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 1,885,061 1,485,440
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 1,485,440 1,070,478


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 1,485,440 399,621 1,885,061
1,485,440 399,621 1,885,061
Debt
Finance leases (53,302 ) (38,757 ) (92,059 )
Debts falling due within 1 year (73,561 ) 68,735 (4,826 )
Debts falling due after 1 year (10,154 ) 10,154 -
(137,017 ) 40,132 (96,885 )
Total 1,348,423 439,753 1,788,176

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

1. STATUTORY INFORMATION

Pura Bathrooms Limited 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 General 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance and at varying rates on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost 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.

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.


PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

NOTES TO THE CONSOLIDATED 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 Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 2,005,194 1,788,622
Social security costs 221,531 180,379
Other pension costs 47,147 35,402
2,273,872 2,004,403

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

Director 1 1
Employee 75 69
76 70

The average number of employees by undertakings that were proportionately consolidated during the year was 76 (2023 - 70 ) .

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

3. EMPLOYEES AND DIRECTORS - continued

During the year the company incurred staff costs of £2,273,870 (2023: £2,004,403).

2024 2023
£    £   
Director's remuneration 12,500 12,208

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 25,267 26,524
Depreciation - owned assets 120,074 104,270
Depreciation - assets on hire purchase contracts 36,413 24,699
Loss on disposal of fixed assets 626 -
Auditors' remuneration 5,000 5,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1 47
Bank loan interest 4,504 7,278
Hire purchase 3,439 2,860
7,944 10,185

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 55,188 52,875
Prior year adjustment (1,960 ) 193
Total current tax 53,228 53,068

Deferred tax 7,785 42,268
Tax on profit 61,013 95,336

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

NOTES TO THE CONSOLIDATED 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 249,711 428,209
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 22.340 %)

62,428

95,662

Effects of:
Expenses not deductible for tax purposes 348 1,508
Capital allowances in excess of depreciation (7,587 ) (44,298 )
Adjustments to tax charge in respect of previous periods (1,960 ) 196
Deferred Tax 7,784 42,268

Total tax charge 61,013 95,336

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 143,560 138,121

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

9. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 September 2023 2,293,000 14,725 641,687
Additions - - 10,380
Disposals - - -
Reclassification/transfer (168,000 ) - -
At 31 August 2024 2,125,000 14,725 652,067
DEPRECIATION
At 1 September 2023 168,000 10,659 311,794
Charge for year - 1,473 52,764
Eliminated on disposal - - -
Reclassification/transfer (168,000 ) - -
At 31 August 2024 - 12,132 364,558
NET BOOK VALUE
At 31 August 2024 2,125,000 2,593 287,509
At 31 August 2023 2,125,000 4,066 329,893

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 September 2023 343,524 450,227 100,344 3,843,507
Additions 43,873 122,545 - 176,798
Disposals - (14,572 ) - (14,572 )
Reclassification/transfer - - - (168,000 )
At 31 August 2024 387,397 558,200 100,344 3,837,733
DEPRECIATION
At 1 September 2023 306,322 254,003 89,800 1,140,578
Charge for year 20,281 79,328 2,641 156,487
Eliminated on disposal - (13,113 ) - (13,113 )
Reclassification/transfer - - - (168,000 )
At 31 August 2024 326,603 320,218 92,441 1,115,952
NET BOOK VALUE
At 31 August 2024 60,794 237,982 7,903 2,721,781
At 31 August 2023 37,202 196,224 10,544 2,702,929

The Company's freehold property at Millbrook Industrial Estate, Crowborough was valued by Mann Smith & Partners, Chartered Surveyors on a vacant possession basis at £2,125,000 on 16 April 2018.

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 67,200 86,040 153,240
Additions - 71,560 71,560
Transfer to ownership - (86,040 ) (86,040 )
At 31 August 2024 67,200 71,560 138,760
DEPRECIATION
At 1 September 2023 29,400 49,743 79,143
Charge for year 9,450 26,963 36,413
Transfer to ownership - (58,818 ) (58,818 )
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 36,297 74,097

Company
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 September 2023 2,293,000 14,725 553,856
Additions - - -
Disposals - - -
Reclassification/transfer (168,000 ) - -
At 31 August 2024 2,125,000 14,725 553,856
DEPRECIATION
At 1 September 2023 168,000 10,659 275,674
Charge for year - 1,473 37,240
Eliminated on disposal - - -
Reclassification/transfer (168,000 ) - -
At 31 August 2024 - 12,132 312,914
NET BOOK VALUE
At 31 August 2024 2,125,000 2,593 240,942
At 31 August 2023 2,125,000 4,066 278,182

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

9. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 September 2023 341,774 270,184 100,344 3,573,883
Additions - 30,990 - 30,990
Disposals - (14,572 ) - (14,572 )
Reclassification/transfer - - - (168,000 )
At 31 August 2024 341,774 286,602 100,344 3,422,301
DEPRECIATION
At 1 September 2023 305,310 205,617 89,800 1,055,060
Charge for year 9,128 23,525 2,641 74,007
Eliminated on disposal - (13,113 ) - (13,113 )
Reclassification/transfer - - - (168,000 )
At 31 August 2024 314,438 216,029 92,441 947,954
NET BOOK VALUE
At 31 August 2024 27,336 70,573 7,903 2,474,347
At 31 August 2023 36,464 64,567 10,544 2,518,823

Cost or valuation at 31 August 2024 is represented by:

Freehold Short Plant and
property leasehold machinery
£    £    £   
Valuation in 2009 244,467 - -
Valuation in 2017 893,000 - -
Cost 987,533 14,725 553,856
2,125,000 14,725 553,856

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2009 - - - 244,467
Valuation in 2017 - - - 893,000
Cost 341,774 286,602 100,344 2,284,834
341,774 286,602 100,344 3,422,301

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

9. TANGIBLE FIXED ASSETS - continued

Company

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,155,533 1,155,533
Aggregate depreciation 134,811 134,811

Value of land in freehold land and buildings 1,020,722 1,020,722

Freehold property was valued on an open market basis on 31 August 2017 by the directors. .

The Company's freehold property at Millbrook Industrial Estate, Crowborough was valued by Mann Smith & Partners, Chartered Surveyors on a vacant possession basis at £2,125,000 on 16 April 2018.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 September 2023 86,040
Transfer to ownership (86,040 )
At 31 August 2024 -
DEPRECIATION
At 1 September 2023 49,743
Charge for year 9,075
Transfer to ownership (58,818 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 36,297

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 999
NET BOOK VALUE
At 31 August 2024 999
At 31 August 2023 999

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

10. FIXED ASSET INVESTMENTS - continued


11. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Finished goods 2,885,212 3,586,759 27,972 40,688

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,681,937 2,448,445 206,303 80,577
Amounts owed by group undertakings - - 4,361,763 5,044,071
Other debtors 261,562 47,995 - -
Directors' current accounts 13,311 - - -
VAT - - - 30,842
Prepayments 467,138 325,448 92,741 68,960
3,423,948 2,821,888 4,660,807 5,224,450

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 15) 4,826 73,561 4,826 73,561
Hire purchase contracts (see note 16) 35,178 20,090 - 6,791
Trade creditors 1,105,659 858,342 206,451 214,405
Tax 55,188 52,875 23,772 (14,758 )
Social security and other taxes 51,215 43,124 2,846 7,968
VAT 255,126 211,370 58,821 -
Other creditors 231,906 275,918 - 341
Accruals and deferred income 106,567 57,839 4,558 4,900
1,845,665 1,593,119 301,274 293,208

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 15) - 10,154 - 10,154
Hire purchase contracts (see note 16) 56,881 33,212 - -
56,881 43,366 - 10,154

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

15. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 4,826 73,561 4,826 73,561
Amounts falling due between two and five years:
Bank loans - 2-5 years - 10,154 - 10,154

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 35,178 20,090
Between one and five years 56,881 33,212
92,059 53,302

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 6,791

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 70,000 70,000
Between one and five years 280,000 280,000
In more than five years 122,500 192,500
472,500 542,500

17. SECURED DEBTS

The following secured debts are included within creditors:

Company
2024 2023
£    £   
Bank loans 4,826 83,715

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

18. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 417,946 410,161 359,825 368,110

Group
Deferred
tax
£   
Balance at 1 September 2023 410,161
Provided during year 7,785
Balance at 31 August 2024 417,946

Company
Deferred
tax
£   
Balance at 1 September 2023 368,110
Provided during year (8,285 )
Balance at 31 August 2024 359,825

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,050 Ordinary £1 10,050 10,050

20. RESERVES

Group
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 September 2023 7,675,625 8,850 855,747 100 8,540,322
Profit for the year 188,698 188,698
Dividends (143,560 ) (143,560 )
At 31 August 2024 7,720,763 8,850 855,747 100 8,585,460

PURA BATHROOMS LIMITED (REGISTERED NUMBER: 05142417)

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

20. RESERVES - continued

Company
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 September 2023 6,409,350 8,850 855,747 100 7,274,047
Profit for the year 160,913 160,913
Dividends (143,560 ) (143,560 )
At 31 August 2024 6,426,703 8,850 855,747 100 7,291,400