| IBC PRODUCTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST JANUARY 2026 |
| IBC PRODUCTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST JANUARY 2026 |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Accountants' Report | 9 |
| IBC PRODUCTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| BALANCE SHEET |
| 31ST JANUARY 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) |
| The directors acknowledge their 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. |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| BALANCE SHEET - continued |
| 31ST JANUARY 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| 1. | STATUTORY INFORMATION |
| IBC Products Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Revenue arises from the company’s principal activities of manufacturing and retailing bathroom products. |
| Revenue is recognised when control of the goods transfers to the customer, being the point at which the performance obligation is satisfied. This is generally upon delivery of the products to the customer. |
| Revenue is measured at the transaction price receivable for the sale of goods, net of value added tax, trade discounts and returns. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Computer software licences are being amortised evenly over their estimated useful life of 5 years. |
| Intellectual property rights are deemed to have an indefinite useful life and therefore are not amortised. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Stocks |
| Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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. |
| Going concern |
| The company meets its day-to-day working capital requirements through its available banking facilities. The directors have reviewed the company’s forecasts and cash flow projections, taking into account current trading conditions and reasonably possible changes in business performance. |
| Based on this assessment, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on the going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| 4. | INTANGIBLE FIXED ASSETS |
| Intellectual |
| property | Computer |
| rights | software | Totals |
| £ | £ | £ |
| COST |
| At 1st February 2025 |
| and 31st January 2026 |
| AMORTISATION |
| At 1st February 2025 |
| Amortisation for year |
| At 31st January 2026 |
| NET BOOK VALUE |
| At 31st January 2026 |
| At 31st January 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1st February 2025 |
| Additions |
| At 31st January 2026 |
| DEPRECIATION |
| At 1st February 2025 |
| Charge for year |
| At 31st January 2026 |
| NET BOOK VALUE |
| At 31st January 2026 |
| At 31st January 2025 |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st February 2025 |
| Additions |
| At 31st January 2026 |
| DEPRECIATION |
| At 1st February 2025 |
| Charge for year |
| At 31st January 2026 |
| NET BOOK VALUE |
| At 31st January 2026 |
| At 31st January 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Doubtful debt provision | - | (10,000 | ) |
| Supplier deposits | 142,354 | 64,450 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 15,489 | 16,314 |
| Other creditors |
| Pension fund | 2,668 | 2,608 |
| Invoice finance facility | 290,435 | 382,368 |
| Directors' current accounts | 9,000 | 12,000 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Amounts owed to associates | 861,925 | 624,075 |
| IBC PRODUCTS LIMITED (REGISTERED NUMBER: 13876451) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JANUARY 2026 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2026 | 2025 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Invoice finance facility | 290,435 | 382,368 |
| The company’s invoice finance facility is secured by fixed and floating charges over certain assets of the company, including trade receivables, plant and machinery. The facility provides working capital funding linked to the value of eligible trade debtors |
| Under the terms of the agreement, the lender holds security over the related assets until all amounts due under the facility have been settled in full. The facility is subject to standard terms and conditions, including the maintenance of eligible debtor balances and compliance with financial and administrative covenants where applicable. |
| 11. | RELATED PARTY DISCLOSURES |
| Lousada Investments Limited is a company which holds a 47% interest in the company's share capital. |
| In the previous year 450,000 non redeemable preference shares at £1 per share were issued to Lousada Investments Limited. |
| Included within creditors falling due after more than one year is an interest-free loan due to the named company amounting to £861,925 (2025: £624,075). |
| The loan is unsecured and repayable on demand; however, the lender has indicated that repayment will not be requested within twelve months from the date of approval of these financial statements. Accordingly, the balance has been classified as falling due after more than one year. |
| No interest is charged on the outstanding balance and there are currently no formal repayment terms in place. |
| ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| IBC PRODUCTS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IBC Products Limited for the year ended 31st January 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of IBC Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IBC Products Limited and state those matters that we have agreed to state to the Board of Directors of IBC Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IBC Products Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that IBC Products Limited 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 loss of IBC Products Limited. You consider that IBC Products Limited 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 IBC Products Limited. 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. |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |