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REGISTERED NUMBER: 04309966 (England and Wales)










S D C ENTERPRISES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 6


S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,130,665 231,670
Investments 5 1,702,561 1,269,862
Investment property 6 - 1,451,243
3,833,226 2,952,775

CURRENT ASSETS
Stocks 1,185,951 1,066,016
Debtors 7 798,189 679,376
Cash at bank and in hand 2,333,199 2,946,023
4,317,339 4,691,415
CREDITORS
Amounts falling due within one year 8 674,952 725,852
NET CURRENT ASSETS 3,642,387 3,965,563
TOTAL ASSETS LESS CURRENT LIABILITIES 7,475,613 6,918,338

CREDITORS
Amounts falling due after more than one year 9 (626,426 ) (686,854 )

PROVISIONS FOR LIABILITIES (75,766 ) (30,000 )
NET ASSETS 6,773,421 6,201,484

CAPITAL AND RESERVES
Called up share capital 12 445,600 445,600
Retained earnings 6,327,821 5,755,884
SHAREHOLDERS' FUNDS 6,773,421 6,201,484

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


S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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


1. STATUTORY INFORMATION

S D C Enterprises 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: 04309966

Registered office: Pickwick Mills Huddersfield Road
Thongsbridge
Holmfirth
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.

Other operating income represents amounts chargeable, net of value added tax, in respect of rental income.

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% to 33% SL
Freehold landNot depreciated

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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


2. ACCOUNTING POLICIES - continued

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

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.

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.

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.

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.

Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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 administrative expenses.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 100,000 475,333 575,333
Additions - 198,566 198,566
Disposals - (1,200 ) (1,200 )
Reclassification/transfer 1,721,319 - 1,721,319
At 31st December 2023 1,821,319 672,699 2,494,018
DEPRECIATION
At 1st January 2023 - 343,663 343,663
Charge for year - 20,890 20,890
Eliminated on disposal - (1,200 ) (1,200 )
At 31st December 2023 - 363,353 363,353
NET BOOK VALUE
At 31st December 2023 1,821,319 309,346 2,130,665
At 31st December 2022 100,000 131,670 231,670

During the year ended 31st December 2023 there was a change in the use of the property previously classified as investment property, as a result of 3rd party tennants becoming tennants within the group. As such property previously held as investment property was reclassified as freehold property.

Included within the net book value of land and buildings above is £1,821,319 in respect of freehold land and buildings. The freehold property was valued at £1,500,000 by Walker Singleton on 27 October 2020 on an open market basis. Since this date there have been additions to the freehold property at a cost of £321,319.

The directors believe that a value of £1,821,319 fairly represents the open market value of the freehold property at 31st December 2023.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023 1,269,862
Additions 432,699
At 31st December 2023 1,702,561
NET BOOK VALUE
At 31st December 2023 1,702,561
At 31st December 2022 1,269,862

S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sam Weller Limited
Registered office: Pickwick Mill, Huddersfield Road, Thongsbridge, Holmfirth, West Yorkshire, HD9 3JL
Nature of business: Manufacture of textiles
%
Class of shares: holding
Ordinary 100.00

Northern Dyers Limited - Acquired 19th July 2023
Registered office: Pickwick Mill, Huddersfield Road, Thongsbridge, Holmfirth, England, HD9 3JL
Nature of business: Manufacture of textiles
%
Class of shares: holding
Ordinary 100.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 1,451,243
Additions 270,076
Reclassification/transfer (1,721,319 )
At 31st December 2023 -
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 1,451,243

As described in note 4 investment property has been reclassified as freehold property during the year ended 31st December 2023.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 529,422 539,183
Amounts owed by group undertakings 23,918 -
Other debtors 244,849 140,193
798,189 679,376

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,791 59,199
Trade creditors 290,330 228,022
Amounts owed to group undertakings 12,917 166,159
Taxation and social security 54,908 39,105
Other creditors 256,006 233,367
674,952 725,852

S D C ENTERPRISES LIMITED (REGISTERED NUMBER: 04309966)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 626,426 686,854

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,616 10,849
Between one and five years - 3,617
3,616 14,466

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 687,217 746,053

Bank borrowings are secured by a debenture covering all assets of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
445,600 Ordinary £1 445,600 445,600

13. 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

14. 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.

15. PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate parent is The Society of Dyers and Colourists, a registered charity.

The most senior parent entity producing publicly available financial statements is The Society of Dyers and Colourists. These financial statements are available from Charity Commission.