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REGISTERED NUMBER: NI053219 (Northern Ireland)















R.T LARGE (NI) LTD

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024






R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £   
NON-CURRENT ASSETS
Property, plant and equipment 5 125,846 60,414
Investments 6 100 100
125,946 60,514

CURRENT ASSETS
Inventories 7 470,644 568,117
Receivables less than one year 8 2,232,168 1,964,694
Cash at bank 236,739 119,314
2,939,551 2,652,125
PAYABLES
Amounts falling due within one year 9 (958,339 ) (807,244 )
NET CURRENT ASSETS 1,981,212 1,844,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,107,158

1,905,395

PAYABLES
Amounts falling due after more than
one year

10

(51,444

)

-

PROVISIONS FOR LIABILITIES 11 (28,611 ) (7,861 )
NET ASSETS 2,027,103 1,897,534

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 2,027,003 1,897,434
SHAREHOLDERS' FUNDS 2,027,103 1,897,534

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 30 April 2025 and were signed on its behalf by:





M Murphy - Director


R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

1. STATUTORY INFORMATION

R.T. Large (NI) is a private company, limited by shares, registered in Northern Ireland within the United Kingdom. The company's registered number and registered office address can be found on the Company information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared on a going concern basis under the historical cost convention, modified where necessary to include the revaluation of certain fixed assets.

Revenue
The revenue shown in the Income Statement represents amounts received or receivable for goods provided in the normal course of business, exclusive of Value Added Tax. Revenue is recognised on the delivery of goods to the customer.

Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to making the asset capable of operating as intended.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery 25% Straight line
Fixtures, fittings and equipment 25% Straight line
Motor vehicles 25% Straight line

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventories
Inventories are stated at the lower of cost and net realisable value. Inventories are determined on a first-in, first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services andamortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.


R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current 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 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.

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 at the rates of exchange ruling at the Statement of Financial Position date.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Hire purchase and leasing commitments
Property, plant and equipment held under Hire Purchase and leasing arrangement which transfer
substantially all the risks and rewards of ownership to the company are capitalised and included in
the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding
commitments are recorded as liabilities. Payments in respect of these obligations are treated as
consisting of capital and interest elements, with interest charged to the Income Statement.

Employee benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held seperately from those of the company in an independently administered fund. Annual contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Finance Costs:
Finance expenses comprise interest payable on borrowings and leases. Interest is recognised in profit or loss as it accrues.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 84,886 123,551 101,733 310,170
Additions 2,150 5,994 143,509 151,653
Disposals - - (65,984 ) (65,984 )
At 31 December 2024 87,036 129,545 179,258 395,839
DEPRECIATION
At 1 January 2024 75,975 89,436 84,345 249,756
Charge for year 8,742 12,678 34,415 55,835
Eliminated on disposal - - (35,598 ) (35,598 )
At 31 December 2024 84,717 102,114 83,162 269,993
NET BOOK VALUE
At 31 December 2024 2,319 27,431 96,096 125,846
At 31 December 2023 8,911 34,115 17,388 60,414

The net book value of tangible fixed assets includes amounts of £91,588 (2023: £Nil) in respect of assets held under hire purchase agreements.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaki
£   
COST
At 1 January 2024
and 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100
At 31 December 2023 100

The Company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries - Direct Holding

Hilltop Designer Radiators Ltd

Registered office:
C/O John Riddel & Son Limited, 1 Dagger Road, Lisburn, United Kingdom,
BT28 2TJ
Nature of business: The sale and distribution of plumbing materials.

Class of shares:
Ordinary 100%

7. INVENTORIES
2024 2023
£    £   
Inventories 470,644 568,117

R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

8. RECEIVABLES LESS THAN ONE YEAR
2024 2023
£    £   
Trade receivables 608,060 579,448
Amounts owed by group undertakings 1,587,698 1,363,483
Amounts owed by related undertakings 1,764 933
Prepayments 34,646 20,830
2,232,168 1,964,694

The amounts owed by group companies and related undertakings are considered unsecured and payable on demand. No interest is charged in respect of same.

9. PAYABLES LESS THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 34,296 -
Trade payables 73,613 63,338
Amounts owed to group undertakings 653,041 552,039
Amounts owed to related undertakings 906 101
Taxation and social security 131,225 108,116
Other payables 65,258 83,650
958,339 807,244

The amounts owed to group companies and related undertakings are considered unsecured and payable on demand. No interest is charged in respect of same.

10. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£    £   
Hire purchase contracts 51,444 -

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 28,611 7,861

Deferred
tax
£   
Balance at 1 January 2024 7,861
Charge to Income Statement during year 20,750
Balance at 31 December 2024 28,611

The provision for deferred tax relates to accelerated capital allowances.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

R.T LARGE (NI) LTD (REGISTERED NUMBER: NI053219)

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

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

The Auditors' Report was unqualified.

Mr Ryan Falls (F.C.A.) (Senior Statutory Auditor)
for and on behalf of CavanaghKelly

14. RELATED PARTY TRANSACTIONS

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.

The following entities are regarded as related parties due to common directors and shareholders.

- Flair Showers Ltd
- Flair Showers (UK) Limited

Amounts owed to/by R.T Large (NI) Ltd at year end:

2024 2023
Amounts (owed to) Amounts (owed to)
/by R.T Large (NI) Ltd /by R.T Large (NI) Ltd
£    £   
Flair Showers Ltd 906 101
Flair Showers (UK) Limited (1,764 ) (933 )

15. PARENT COMPANY

The controlling party is Sanbra Limited.

The company regards Sanbra Limited, a company registered in the Republic of Ireland, as its parent company. The results of R.T Large (NI) Ltd are included in the consolidated financial statements of Sanbra Limited, which are available at the company's registered office at Instantor Works, Santry Avenue, Dublin 9, Ireland.