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Registration number: 02312471

Oasis (Plumbing & Bathrooms) Limited

Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Oasis (Plumbing & Bathrooms) Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 7

 

Oasis (Plumbing & Bathrooms) Limited

Company Information

Directors

Mr D Robinson

Mr M Collins

Registered office

Unit 2C, Quarrywood Industrial Estate
Mills Road
London Road
Aylesford
Maidstone
ME20 7NA

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Oasis (Plumbing & Bathrooms) Limited

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

57,879

94,355

Investments

6

1,300

1,300

 

59,179

95,655

Current assets

 

Stocks

7

115,829

117,394

Debtors

8

27,514

63,108

Cash at bank and in hand

 

837,496

726,447

 

980,839

906,949

Creditors: Amounts falling due within one year

9

(232,093)

(234,465)

Net current assets

 

748,746

672,484

Total assets less current liabilities

 

807,925

768,139

Provisions for liabilities

(10,534)

(19,601)

Net assets

 

797,391

748,538

Capital and reserves

 

Called up share capital

100

100

Retained earnings

797,291

748,438

Shareholders' funds

 

797,391

748,538

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 8 July 2025 and signed on its behalf by:
 

.........................................

Mr D Robinson

Director

Company registration number: 02312471

 

Oasis (Plumbing & Bathrooms) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2C, Quarrywood Industrial Estate
Mills Road
London Road
Aylesford
Maidstone
ME20 7NA

The principal activity of the company is that of distribution and retailing of plumbing, heating, bathroom and kitchen supplies.

2

Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 December 2024 and had net assets of £797,391 at that date, including cash at bank of £837,496.

The directors have considered the current inflationary increases and economic uncertainty and the directors' view is that the impact on the company will be manageable. The company has continued to trade profitably since 31 December 2024, therefore with the resources the company has the directors believed that the company will be able to weather the crisis.

On the basis of the above, and after making enquiries, the directors gave a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods or provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Oasis (Plumbing & Bathrooms) Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long Leasehold Property

Over the period of the lease

Plant and Machinery

33% straight line

Fixtures and Fittings

15% straight line

Motor Vehicles

25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oasis (Plumbing & Bathrooms) Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
 
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt
instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 8 July 2025 was Darren Bond, who signed for and on behalf of Brebners.

 

Oasis (Plumbing & Bathrooms) Limited

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

4

Staff numbers

The average number of persons employed by the company during the year, was 8 (2023 - 8).

5

Tangible assets

Leasehold property
£

Fixtures and fittings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

21,000

22,889

145,058

8,580

197,527

At 31 December 2024

21,000

22,889

145,058

8,580

197,527

Depreciation

At 1 January 2024

5,048

22,889

66,655

8,580

103,172

Charge for the year

212

-

36,264

-

36,476

At 31 December 2024

5,260

22,889

102,919

8,580

139,648

Carrying amount

At 31 December 2024

15,740

-

42,139

-

57,879

At 31 December 2023

15,952

-

78,403

-

94,355

6

Investments

2024
£

2023
£

Investments

1,300

1,300

£

Cost or valuation

At 1 January 2024

1,300

Carrying amount

At 31 December 2024

1,300

At 31 December 2023

1,300

 

Oasis (Plumbing & Bathrooms) Limited

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

7

Stocks

2024
£

2023
£

Finished goods and goods for resale

115,829

117,394

8

Debtors

2024
£

2023
£

Trade debtors

27,514

63,108

27,514

63,108

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

54,282

63,321

Amounts owed to group undertakings

117,350

117,774

Taxation and social security

49,056

41,664

Other creditors

11,405

11,706

232,093

234,465

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £45,000 (2023 - £57,000).

The amount of non-cancellable operating lease payments recognised as an expense during the year was £12,000 (2023 - £12,000).

11

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the year between group undertakings where 100% of the voting rights are controlled within the group.

Summary of transactions with parent

During the year the freehold property at 186 High Street, Sheerness was rented from the parent company's Directors Pension Scheme. Rent of £12,000 was paid to the scheme (2023: £12,000).