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REGISTERED NUMBER: 07613186 (England and Wales)















THE SHOWER LAB LTD

Financial Statements for the Period 1 July 2023 to 31 December 2024






THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)






Contents of the Financial Statements
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE SHOWER LAB LTD

Company Information
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024







DIRECTORS: Dileep Kumar Arulmoli
Declan Canavan
Aidan Murphy
Martin Murphy



REGISTERED OFFICE: Unit 18-20 Magnet Point Estate
Magnet Road, West Thurrock
Grays
Essex
RM20 4DR



REGISTERED NUMBER: 07613186 (England and Wales)



INDEPENDENT AUDITORS: CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP



BANKERS: Bank of Ireland
1 Donegall Square South
Belfast
BT1 5LR

THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Statement of Financial Position
31 DECEMBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 10,444 28,923

CURRENT ASSETS
Stocks 6 751,011 843,000
Receivables: amounts falling due within
one year

7

304,394

409,980
Cash at bank 22,677 24,549
1,078,082 1,277,529
PAYABLES
Amounts falling due within one year 8 (1,312,558 ) (775,541 )
NET CURRENT (LIABILITIES)/ASSETS (234,476 ) 501,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

(224,032

)

530,911

PAYABLES
Amounts falling due after more than
one year

9

(25,499

)

(228,429

)

PROVISIONS FOR LIABILITIES - (5,984 )
NET (LIABILITIES)/ASSETS (249,531 ) 296,498

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Capital redemption reserve 50 50
Retained earnings (349,581 ) 196,448
(249,531 ) 296,498

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:





Martin Murphy - Director


THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

The Shower Lab 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. 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 have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, not withstanding the fact the company had net current liabilities of £234,476 and had total net liabilities of £249,531. The company generated a loss before tax of £542,013.

The company was purchased by the Flair group in June 2024, and the current directors are in the process of reviewing revenue streams and costs to bring the company to profitability in the near future. Management have prepared forecasts which demonstrate that the Company may require some support from its fellow group companies in the next 12 months to help support the company.

The directors have obtained confirmation from the group's ultimate parent company, Ardtir Investments Ltd, that the company has underlying support for a period of at least 12 months from the date of signing these financial statements and are satisfied that they can demonstrate a strong financial position to withstand potential future challenges or cash flow requirements for the foreseeable future.

It is on this basis, that the directors have prepared the financial statements on a going concern basis.

Related party exemption
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.

Revenue
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods:
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the significant risks and rewards of ownership have been transferred to the buyer;
- the company retains no continuing involvement or control over the goods;
- the amount of revenue can be measured reliably;
- it is probable that future economic benefits will flow through the company
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation. Cost includes costs 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:

Motor Vehicles-20% Straight Line
Fixtures and Fittings-25% Straight Line
Computer Equipment-20% 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.

Inventories
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks 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.

THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JULY 2023 TO 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 and
amortised 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.


THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 period 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
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

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

THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 July 2023 15,547 28,975 37,737 53,715 135,974
Disposals - (7,995 ) - (19,000 ) (26,995 )
At 31 December 2024 15,547 20,980 37,737 34,715 108,979
DEPRECIATION
At 1 July 2023 12,630 24,220 35,221 34,980 107,051
Charge for period 2,917 3,397 1,750 10,415 18,479
Eliminated on disposal - (7,995 ) - (19,000 ) (26,995 )
At 31 December 2024 15,547 19,622 36,971 26,395 98,535
NET BOOK VALUE
At 31 December 2024 - 1,358 766 8,320 10,444
At 30 June 2023 2,917 4,755 2,516 18,735 28,923

The net book value of tangible fixed assets includes amounts of £4,027 (2023: £6,712) in respect of assets held under hire purchase agreements.

6. STOCKS
2024 2023
£ £
Inventories 751,011 843,000

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 277,619 386,945
Other debtors 26,775 23,035
304,394 409,980

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 98,894 94,104
Hire purchase contracts 615 2,977
Trade payables 118,789 218,782
Amounts owed to group undertakings 804,507 -
Amounts owed to related parties 1,714 -
Taxation and social security 53,590 131,901
Other payables 234,449 327,777
1,312,558 775,541

Amounts owed to group undertakings are interest free and repayable on demand.

THE SHOWER LAB LTD (REGISTERED NUMBER: 07613186)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JULY 2023 TO 31 DECEMBER 2024

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 25,499 81,868
Hire purchase contracts - 2,446
Trade creditors - 36,252
Other creditors - 107,863
25,499 228,429

The company's factoring facility is secured by a fixed and floating charge over all the company's assets.

10. SECURED DEBTS

The following secured debtrs are included within creditors:

2024 2023
£    £   
Paragon 210,168 318,843

The company's factoring facility is secured by a fixed and floating charge over all company assets.

11. 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

12. RELATED PARTY DISCLOSURES

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

- Sanbra Ltd

Amounts owed to/by The Shower Lab Ltd at year end:

2024 2023
Amounts (owed to ) Amounts (owed to )
/ by The Shower Lab Ltd / by The Shower Lab Ltd
£    £   
Sanbra Ltd 1,714 -


13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ardtir Investments Ltd.

The company regards Flair Showers Limited, a company registered in the Northern Ireland, as
its immediate parent company. The ultimate parent and the largest and smallest group financial
statements that consolidate this company is Ardtir Investments Ltd.