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Company Registration No. 09280474 (England and Wales)
S D Hardware Ltd Unaudited accounts for the year ended 31 March 2024
S D Hardware Ltd Unaudited accounts Contents
Page
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S D Hardware Ltd Company Information for the year ended 31 March 2024
Director
Mr G Ewings
Company Number
09280474 (England and Wales)
Registered Office
Unit 7 Forge Lane, Enterprise Park Saltash Cornwall PL12 6LX
Accountants
Blackwell Bate Ltd Brunel Court 122 Fore Street Saltash Cornwall PL12 6JW
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S D Hardware Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
80,776 
87,423 
Current assets
Inventories
214,461 
215,749 
Debtors
234,383 
258,239 
Cash at bank and in hand
290,510 
348,923 
739,354 
822,911 
Creditors: amounts falling due within one year
(270,979)
(332,509)
Net current assets
468,375 
490,402 
Total assets less current liabilities
549,151 
577,825 
Creditors: amounts falling due after more than one year
- 
(52,000)
Provisions for liabilities
Deferred tax
(20,193)
(16,610)
Net assets
528,958 
509,215 
Capital and reserves
Called up share capital
110 
100 
Profit and loss account
528,848 
509,115 
Shareholders' funds
528,958 
509,215 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 July 2024 and were signed on its behalf by
Mr G Ewings Director Company Registration No. 09280474
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S D Hardware Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
S D Hardware Ltd is a private company, limited by shares, registered in England and Wales, registration number 09280474. The registered office is Unit 7, Forge Lane, Enterprise Park, Saltash, Cornwall, PL12 6LX.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
33% and 10% straight line
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss..
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand.
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S D Hardware Ltd Notes to the Accounts for the year ended 31 March 2024
Taxation
Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Operating leasing
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
18,452 
62,589 
15,367 
63,005 
159,413 
Additions
18,171 
- 
50 
329 
18,550 
At 31 March 2024
36,623 
62,589 
15,417 
63,334 
177,963 
Depreciation
At 1 April 2023
11,227 
5,253 
11,020 
44,490 
71,990 
Charge for the year
3,377 
14,334 
1,096 
6,390 
25,197 
At 31 March 2024
14,604 
19,587 
12,116 
50,880 
97,187 
Net book value
At 31 March 2024
22,019 
43,002 
3,301 
12,454 
80,776 
At 31 March 2023
7,225 
57,336 
4,347 
18,515 
87,423 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
215,275 
244,840 
Other debtors
19,108 
13,399 
234,383 
258,239 
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S D Hardware Ltd Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
24,000 
Obligations under finance leases and hire purchase contracts
- 
2,077 
Trade creditors
146,032 
189,423 
Taxes and social security
74,319 
53,377 
Other creditors
50,628 
63,632 
270,979 
332,509 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
52,000 
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
1,722 
5,015 
9
Average number of employees
During the year the average number of employees was 13 (2023: 12).
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