REGISTERED NUMBER: 04201734 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

JMI BATHROOMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M Gibbs

SECRETARY:

REGISTERED OFFICE:

124 High Street

Midsomer Norton

Radstock

BA3 2DA

REGISTERED NUMBER:

04201734 (England and Wales)

ACCOUNTANTS:

PG Owen Limited

Chartered Accountants

124 High Street

Midsomer Norton

Bath

Avon

BA3 2DA

FIXED ASSETS

Tangible assets

4

310,949

299,125

CURRENT ASSETS

Stocks

29,853

28,042

Debtors

5

232,318

149,516

Cash at bank and in hand

234,873

375,480

497,044

553,038

CREDITORS

Amounts falling due within one year

6

308,906

371,223

NET CURRENT ASSETS

188,138

181,815

TOTAL ASSETS LESS CURRENT LIABILITIES

499,087

480,940

CREDITORS

Amounts falling due after more than one year

7

(29,246

)

(64,212

)

PROVISIONS FOR LIABILITIES

(17,931

)

(15,395

)

NET ASSETS

451,910

401,333

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

451,909

401,332

SHAREHOLDERS' FUNDS

451,910

401,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 12 September 2025 and were signed by:

J M Gibbs - Director

1.	STATUTORY INFORMATION

JMI 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks and work-in-progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

In relation to work-in-progress, cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2024

236,000

16,602

116,489

Additions

-

1,744

1,587

At 30 April 2025

236,000

18,346

118,076

DEPRECIATION

At 1 May 2024

-

8,149

94,582

Charge for year

-

2,040

5,873

At 30 April 2025

-

10,189

100,455

NET BOOK VALUE

At 30 April 2025

236,000

8,157

17,621

At 30 April 2024

236,000

8,453

21,907

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2024

90,394

6,792

466,277

Additions

31,540

1,257

36,128

At 30 April 2025

121,934

8,049

502,405

DEPRECIATION

At 1 May 2024

60,442

3,979

167,152

Charge for year

15,373

1,018

24,304

At 30 April 2025

75,815

4,997

191,456

NET BOOK VALUE

At 30 April 2025

46,119

3,052

310,949

At 30 April 2024

29,952

2,813

299,125

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2024

and 30 April 2025

47,990

DEPRECIATION

At 1 May 2024

24,370

Charge for year

5,905

At 30 April 2025

30,275

NET BOOK VALUE

At 30 April 2025

17,715

At 30 April 2024

23,620

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

136,864

39,403

Other debtors

65,725

93,287

Directors' current accounts

22,129

9,924

Prepayments and accrued income

7,600

6,902

232,318

149,516

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

28,573

27,823

Hire purchase contracts

7,351

6,423

Trade creditors

139,553

166,026

Tax

35,618

40,737

Social security and other taxes

92,372

125,354

Other creditors

334

-

Accrued expenses

5,105

4,860

308,906

371,223

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

13,661

40,640

Hire purchase contracts

15,585

23,572

29,246

64,212

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2025 and 30 April 2024:

2025

2024

£

£

J M Gibbs

Balance outstanding at start of year

9,924

7,002

Amounts advanced

80,206

71,122

Amounts repaid

(68,000

)

(68,200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,130

9,924

The dividends declared during the year were paid to directors as shareholders.

During the year the company paid rent totalling £9,600 to the directors.

9.	RELATED PARTY DISCLOSURES