Classic Fires & Bathrooms Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04569599

Classic Fires & Bathrooms Ltd

Filleted Unaudited Financial Statements

31 December 2024

Classic Fires & Bathrooms Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	7		138,426	136,578

Current assets

Stocks		43,300	58,083
Debtors	8	102,996	42,116
Cash at bank and in hand		39,853	125,550
		---------	---------
		186,149	225,749

Creditors: amounts falling due within one year	9	151,401		172,616
		---------		---------
Net current assets			34,748	53,133
			---------	---------
Total assets less current liabilities			173,174	189,711

Creditors: amounts falling due after more than one year	10	42,934	38,794
		---------	---------
Net assets		130,240	150,917
		---------	---------

Capital and reserves

Called up share capital	102	100
Profit and loss account	130,138	150,817
	---------	---------
Shareholders funds	130,240	150,917
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Classic Fires & Bathrooms Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Ms K Major	Mr B Major
Director	Director

Company registration number: 04569599

Classic Fires & Bathrooms Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Summit House, 10 Waterside Court, Newport, South Wales, NP20 5NT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2023: 11 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	1,689	33,570
Adjustments in respect of prior periods	( 217)	75
Other component of current tax expense	561	–
	-------	--------
Total current tax	2,033	33,645
	-------	--------
	-------	--------
Tax on profit	2,033	33,645
	-------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 19 % (2023: 22.73 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	8,954	122,617
	-------	---------
Profit on ordinary activities by rate of tax	1,701	27,871
Adjustment to tax charge in respect of prior periods	( 217)	217
Effect of expenses not deductible for tax purposes	378	–
Effect of capital allowances and depreciation	( 390)	5,482
Other tax adjustment to increase/(decrease) tax liability - desc in a/cs	561	75
	-------	---------
Tax on profit	2,033	33,645
	-------	---------

6. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	40,000
	--------
Amortisation
At 1 January 2024 and 31 December 2024	40,000
	--------
Carrying amount
At 31 December 2024	–
	--------
At 31 December 2023	–
	--------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	13,016	119,302	122,390	4,415	259,123
Additions	–	–	36,990	807	37,797
	--------	---------	---------	-------	---------
At 31 December 2024	13,016	119,302	159,380	5,222	296,920
	--------	---------	---------	-------	---------
Depreciation
At 1 January 2024	4,620	51,245	62,698	3,982	122,545
Charge for the year	1,259	10,209	24,171	310	35,949
	--------	---------	---------	-------	---------
At 31 December 2024	5,879	61,454	86,869	4,292	158,494
	--------	---------	---------	-------	---------
Carrying amount
At 31 December 2024	7,137	57,848	72,511	930	138,426
	--------	---------	---------	-------	---------
At 31 December 2023	8,396	68,057	59,692	433	136,578
	--------	---------	---------	-------	---------

8. Debtors

	2024	2023
	£	£
Trade debtors	27,488	42,116
Other debtors	75,508	–
	---------	--------
	102,996	42,116
	---------	--------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,560	10,560
Trade creditors	81,859	28,797
Corporation tax	1,689	33,570
Social security and other taxes	14,692	27,971
Other creditors	42,601	71,718
	---------	---------
	151,401	172,616
	---------	---------

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,357	14,420
Other creditors	38,577	24,374
	--------	--------
	42,934	38,794
	--------	--------

11. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024	2023
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	142,848	167,667
	---------	---------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	177,954	149,869
	---------	---------

12. Directors' advances, credits and guarantees

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding from the director was £4(£41,591 in credit) ; this amount being included in debtors: amounts falling within one year.

13. Related party transactions

The company is a wholly owned subsidiary of Major Group Management Services Ltd, incorporated in the United Kingdom. The ultimate controlling party is Major Group Management Services Ltd. During the year, the company advanced £75,500 to a subsidiary, United Trades (Monmouth) Limited, of its parent company. A management charge receivable of £50,000 has been recognised in the income statement. At the year end, the balance of £75,500 was outstanding, and included in Debtors: amounts falling due within one year.

14. Controlling party

The company is a wholly owned subsidiary of Major Group Management Limited (15326692), a company incorporated in the United Kingdom. The ultimate controlling party is the parent company with a registered office; Summit House 10 Waterside Court Newport NP20 5NT