IRIS Accounts Production v24.2.0.383 00433197 Board of Directors 1.1.23 31.12.23 31.12.23 12/3/24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004331972022-12-31004331972023-12-31004331972023-01-012023-12-31004331972021-12-31004331972022-01-012022-12-31004331972022-12-3100433197ns15:EnglandWales2023-01-012023-12-3100433197ns14:PoundSterling2023-01-012023-12-3100433197ns10:Director12023-01-012023-12-3100433197ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100433197ns10:SmallEntities2023-01-012023-12-3100433197ns10:Audited2023-01-012023-12-3100433197ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100433197ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100433197ns10:FullAccounts2023-01-012023-12-3100433197ns10:OrdinaryShareClass12023-01-012023-12-3100433197ns5:CurrentFinancialInstruments2023-12-3100433197ns5:CurrentFinancialInstruments2022-12-3100433197ns5:ShareCapital2023-12-3100433197ns5:ShareCapital2022-12-3100433197ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3100433197ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3100433197ns5:RetainedEarningsAccumulatedLosses2023-12-3100433197ns5:RetainedEarningsAccumulatedLosses2022-12-3100433197ns10:RegisteredOffice2023-01-012023-12-3100433197ns5:LandBuildings2022-12-3100433197ns5:PlantMachinery2022-12-3100433197ns5:LandBuildings2023-01-012023-12-3100433197ns5:PlantMachinery2023-01-012023-12-3100433197ns5:LandBuildings2023-12-3100433197ns5:PlantMachinery2023-12-3100433197ns5:LandBuildings2022-12-3100433197ns5:PlantMachinery2022-12-3100433197ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100433197ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100433197ns5:WithinOneYear2023-12-3100433197ns5:WithinOneYear2022-12-3100433197ns5:BetweenOneFiveYears2023-12-3100433197ns5:BetweenOneFiveYears2022-12-3100433197ns5:MoreThanFiveYears2023-12-3100433197ns5:MoreThanFiveYears2022-12-3100433197ns5:AllPeriods2023-12-3100433197ns5:AllPeriods2022-12-3100433197ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 00433197 (England and Wales)










SAM WELLER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 5


SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 477,654 529,496

CURRENT ASSETS
Stocks 1,390,636 929,759
Debtors 5 512,895 709,032
Cash at bank 491,432 450,608
2,394,963 2,089,399
CREDITORS
Amounts falling due within one year 6 371,227 251,925
NET CURRENT ASSETS 2,023,736 1,837,474
TOTAL ASSETS LESS CURRENT LIABILITIES 2,501,390 2,366,970

PROVISIONS FOR LIABILITIES 114,848 126,000
NET ASSETS 2,386,542 2,240,970

CAPITAL AND RESERVES
Called up share capital 8 10,300 10,300
Other reserves 7,700 7,700
Retained earnings 2,368,542 2,222,970
SHAREHOLDERS' FUNDS 2,386,542 2,240,970

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th March 2024 and were signed on its behalf by:





M A Yare - Director


SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

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


1. STATUTORY INFORMATION

Sam Weller Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00433197

Registered office: Pickwick Mill Huddersfield Road
Thongsbridge
Holmfirth
West Yorkshire
HD9 3JL

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 the functional currency of the company and rounded to the nearest £1.

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
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold improvementsOver lease term
Plant and machinery15% reducing balance
Computer equipment25% straight line

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Work in progress and finished goods include labour and attributable overheads.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.


SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

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


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.

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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 36,486 1,918,065 1,954,551
Additions - 33,480 33,480
At 31st December 2023 36,486 1,951,545 1,988,031
DEPRECIATION
At 1st January 2023 19,747 1,405,308 1,425,055
Charge for year 5,412 79,910 85,322
At 31st December 2023 25,159 1,485,218 1,510,377
NET BOOK VALUE
At 31st December 2023 11,327 466,327 477,654
At 31st December 2022 16,739 512,757 529,496

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 377,258 527,683
Amounts owed by group undertakings 12,917 100,917
Other debtors 122,720 80,432
512,895 709,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 49,496 69,029
Taxation and social security 66,446 18,651
Other creditors 255,285 164,245
371,227 251,925

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 140,000 104,500
Between one and five years 140,000 104,500
In more than five years 23,333 115,666
303,333 324,666

SAM WELLER LIMITED (REGISTERED NUMBER: 00433197)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,300 Ordinary £1 10,300 10,300

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Darwin FCA (Senior Statutory Auditor)
for and on behalf of Thomas Coombs Limited

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet undertaken on behalf of any parent undertaking or any fellow subsidiary undertaking is £687,217 (2022 - £746,053)

This financial commitment is in respect of a guarentee provided against bank loans of S D C Enterprises Limited, the immediate parent undertaking. The guarentee is secured over all assets of the company.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. PARENT AND ULTIMATE CONTROLLING PARTY

The company's immediate parent is S D C Enterprises Limited, incorporated in England & Wales.

The ultimate parent is The Society of Dyers and Colourists which has no controlling party, a registered charity in England & Wales.

The smallest and largest group in which the results of the company are consolidated, is that of The Society of Dyers and Colourists. These financial statements are available upon request from Perkin House, Langlands Street, BD1 2LU.