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REGISTERED NUMBER: 02405440 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SEQUEL GLITTER FABRICS LIMITED

SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEQUEL GLITTER FABRICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S C Hewitt
T W Hewitt
A S Johnson



SECRETARY: S C Hewitt



REGISTERED OFFICE: Unit A
Chartwell Buildings
Manor Road, Southbourne
Emsworth
Hampshire
PO10 8NX



REGISTERED NUMBER: 02405440 (England and Wales)



ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ



SOLICITORS: Irwin Mitchell
Thomas Eggar House
Friary Lane
Chichester
West Sussex
PO19 1GE

SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 362 403
Tangible assets 5 49,134 60,350
49,496 60,753

CURRENT ASSETS
Stocks 332,572 363,241
Debtors 6 129,697 188,609
Prepayments and accrued income 12,803 19,663
Cash at bank and in hand 907,422 926,891
1,382,494 1,498,404
CREDITORS
Amounts falling due within one year 7 46,690 8,151
NET CURRENT ASSETS 1,335,804 1,490,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,385,300

1,551,006

ACCRUALS AND DEFERRED INCOME 6,588 8,498
NET ASSETS 1,378,712 1,542,508

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,378,612 1,542,408
SHAREHOLDERS' FUNDS 1,378,712 1,542,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





S C Hewitt - Director


SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Sequel Glitter Fabrics 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.

The financial statements are presented in sterling (£), which is also the functional currency of the company.

Revenue
Revenue, described as turnover, is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of twenty five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

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

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 January 2023
and 31 December 2023 740
AMORTISATION
At 1 January 2023 337
Charge for year 41
At 31 December 2023 378
NET BOOK VALUE
At 31 December 2023 362
At 31 December 2022 403

SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£ £ £ £
COST
At 1 January 2023 1,758 183,174 9,615 194,547
Additions - 1,420 - 1,420
At 31 December 2023 1,758 184,594 9,615 195,967
DEPRECIATION
At 1 January 2023 1,406 126,079 6,712 134,197
Charge for year 352 11,703 581 12,636
At 31 December 2023 1,758 137,782 7,293 146,833
NET BOOK VALUE
At 31 December 2023 - 46,812 2,322 49,134
At 31 December 2022 352 57,095 2,903 60,350

6. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 100,622 158,289
Other debtors 22,477 23,722
123,099 182,011

Amounts falling due after more than one year:
Other debtors 6,598 6,598

Aggregate amounts 129,697 188,609

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 39,359 7,557
Taxation and social security 836 594
Other creditors 6,495 -
46,690 8,151

SEQUEL GLITTER FABRICS LIMITED (REGISTERED NUMBER: 02405440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 10,250 41,000
Between one and five years - 10,250
10,250 51,250

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
A S Johnson
Balance outstanding at start of year 2,083 1,650
Amounts advanced 10,000 2,500
Amounts repaid (2,083 ) (2,067 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 2,083

T W Hewitt
Balance outstanding at start of year - 3,000
Amounts repaid - (3,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan was repaid after the year end, no interest has been charged on the loan.