LAKES BATHROOMS LIMITED

1. LAKES BATHROOMS LIMITED 2008-02-20 → present
2. PROVEX PRODUCTS LIMITED 2003-12-15 → 2008-02-20
3. NOVELLINI BATHROOM PRODUCTS LIMITED 1992-08-14 → 2003-12-15

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Hazlewoods LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared forecasts, including cash flow forecasts, for the period to 30 November 2026. After reviewing the company's forecasts and having renegotiated the repayment terms attached to the loan notes, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. LAKES BATHROOMS LIMITED · parent
   1. Ningbo Ying Ji Sha Wei Yu Ltd 100% · China · manufacture and export of shower enclosures and shower doors
   2. Lakes Showering Spaces Ltd 100% · United Kingdom · dormant entity

Significant events

• “The other operating income figure for the prior year above includes a £2,551,655 gain on the disposal of a group freehold property in December 2022, which was then leased back to the company for their use under a 10 year operating lease with annual lease costs of £320,000.”
• “At 30 November 2024, an indemnity given by the company's bankers to HM Revenue & Customs amounted to £140,000 (2023 - £140,000). The directors do not consider this contingency will crystallise into a liability in the foreseeable future.”
• “Lakes Bathrooms Limited have guaranteed loan notes held by Lakes Corporate Holdings Limited. The principal amount secured at 30 November 2024 was £5,792,496 plus accrued interest of £436,064.”
• “On 17 November 2023, the company underwent a management buyout. The ultimate controlling party became Lakes Corporate Holdings Limited, incorporated in the United Kingdom for which the company is consolidated into.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +54.2%

  £12,151,388 → £18,740,427

• Cash

  -98.6%

  £4,003,344 → £55,585

• Net assets

  -70.1%

  £7,345,908 → £2,198,265

• Employees

  +1.5%

  67 → 68

• Operating profit

  -219.4%

  £881,910 → -£1,052,792

• Profit before tax

  -218.2%

  £924,411 → -£1,092,656

• Wages

  +63.4%

  £2,509,533 → £4,099,432

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers