Soaks Bathrooms Ltd 31/01/2025 iXBRL

Company registration number: NI060763

Soaks Bathrooms Ltd

Trading as Soaks Bathrooms Ltd

Unaudited filleted financial statements

31 January 2025

Soaks Bathrooms Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Soaks Bathrooms Ltd

Directors and other information


	Directors	Mr Wayne Lyons


	Company number	NI060763


	Registered office	5-7 Apollo Road
		Belfast
		Antrim
		BT12 6HP


	Business address	3 Falcon Road
		Belfast
		BT12 6RD


	Accountants	Business Account Services
		11 Abbey Street
		Armagh
		BT61 7DX

Soaks Bathrooms Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Soaks Bathrooms Ltd

Year ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Soaks Bathrooms Ltd for the year ended 31 January 2025 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Soaks Bathrooms Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Soaks Bathrooms Ltd and state those matters that we have agreed to state to the board of directors of Soaks Bathrooms Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Soaks Bathrooms Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Soaks Bathrooms Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Soaks Bathrooms Ltd. You consider that Soaks Bathrooms Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Soaks Bathrooms Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Business Account Services

11 Abbey Street

Armagh

BT61 7DX

30 October 2025

Soaks Bathrooms Ltd

Statement of financial position

31 January 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	860		860
Tangible assets	6	136,839		162,248
Investments	7	131,938		136,573
		_______		_______
			269,637		299,681

Current assets
Stocks		808,942		586,074
Debtors	8	1,077,342		990,934
Cash at bank and in hand		838,222		829,373
		_______		_______
		2,724,506		2,406,381
Creditors: amounts falling due
within one year	9	( 1,004,038)		( 764,309)
		_______		_______
Net current assets			1,720,468		1,642,072
			_______		_______
Total assets less current liabilities			1,990,105		1,941,753

Creditors: amounts falling due
after more than one year	10		-		6
			_______		_______
Net assets			1,990,105		1,941,759
			_______		_______

Capital and reserves
Called up share capital			1		1
Revaluation reserve			90,000		90,000
Profit and loss account			1,900,104		1,851,758
			_______		_______
Shareholders funds			1,990,105		1,941,759
			_______		_______

For the year ending 31 January 2025 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.

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.

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

Mr Wayne Lyons

Director

Company registration number: NI060763

Soaks Bathrooms Ltd

Statement of changes in equity

Year ended 31 January 2025

	Called up share capital	Revaluation reserve	Profit and loss account	Total
	£	£	£	£


At 1 February 2023	1	90,000	1,725,174	1,815,175

Profit for the year			126,584	126,584
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	126,584	126,584

	_______	_______	_______	_______
At 31 January 2024 and 1 February 2024	1	90,000	1,851,757	1,941,758

Profit for the year			48,347	48,347
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	48,347	48,347

	_______	_______	_______	_______
At 31 January 2025	1	90,000	1,900,104	1,990,105
	_______	_______	_______	_______

Soaks Bathrooms Ltd

Notes to the financial statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 5-7 Apollo Road, Belfast, Antrim, BT12 6HP.

2. Statement of compliance

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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 and machinery	-	20% %	reducing balance
Fittings fixtures and equipment	-	15% %	reducing balance
Motor vehicles	-	20% %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

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 stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 in finance costs 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 (2024: 14 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 February 2024 and 31 January 2025	860	860
	_______	_______
Amortisation
At 1 February 2024 and 31 January 2025	-	-
	_______	_______
Carrying amount
At 31 January 2025	860	860
	_______	_______
At 31 January 2024	860	860
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2024	102,596	107,025	189,146	398,767
Additions	8,800	-	-	8,800
	_______	_______	_______	_______
At 31 January 2025	111,396	107,025	189,146	407,567
	_______	_______	_______	_______
Depreciation
At 1 February 2024	57,241	58,071	121,206	236,518
Charge for the year	10,831	9,791	13,588	34,210
	_______	_______	_______	_______
At 31 January 2025	68,072	67,862	134,794	270,728
	_______	_______	_______	_______
Carrying amount
At 31 January 2025	43,324	39,163	54,352	136,839
	_______	_______	_______	_______
At 31 January 2024	45,355	48,954	67,940	162,249
	_______	_______	_______	_______

7. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 February 2024	136,573	136,573
Additions	( 4,635)	( 4,635)
	_______	_______
At 31 January 2025	131,938	131,938
	_______	_______
Impairment
At 1 February 2024 and 31 January 2025	-	-
	_______	_______
Carrying amount
At 31 January 2025	131,938	131,938
	_______	_______
At 31 January 2024	136,573	136,573
	_______	_______

8. Debtors

	2025	2024
	£	£
Trade debtors	33,607	27,303
Other debtors	1,043,735	963,631
	_______	_______
	1,077,342	990,934
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	13,594	555
Trade creditors	119,168	117,919
Corporation tax	19,953	47,939
Social security and other taxes	123,853	110,722
Other creditors	727,470	487,174
	_______	_______
	1,004,038	764,309
	_______	_______

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

	2025	2024
	£	£
Bank loans and overdrafts	-	( 6)
	_______	_______

11. Directors advances, credits and guarantees

12. Related party transactions

Latner Ltd - -

13. Holding Company

Cub Holdings Ltd is now the owner of Soaks Bathrooms Ltd from 1st November 2022