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Company No: 09028815 (England and Wales)

SOPHIE CAMERON DAVIES LTD

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 December 2023
Pages for filing with the registrar

SOPHIE CAMERON DAVIES LTD

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 December 2023

Contents

SOPHIE CAMERON DAVIES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
SOPHIE CAMERON DAVIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
31.12.2023 30.04.2023
£ £
Current assets
Stocks 29,836 32,191
Debtors 3 1,180 2,112
Cash at bank and in hand 23,709 20,633
54,725 54,936
Creditors: amounts falling due within one year 4 ( 9,861) ( 3,842)
Net current assets 44,864 51,094
Total assets less current liabilities 44,864 51,094
Net assets 44,864 51,094
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 44,764 50,994
Total shareholders' funds 44,864 51,094

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sophie Cameron Davies Ltd (registered number: 09028815) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

Mr I Cameron
Director
SOPHIE CAMERON DAVIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 December 2023
SOPHIE CAMERON DAVIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sophie Cameron Davies Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 43 Colston Street, Bristol, BS1 5AX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length was shortened during the year to 31 December to align with other companies under common control.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

Period from
01.05.2023 to
31.12.2023
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Debtors

31.12.2023 30.04.2023
£ £
Trade debtors 453 539
Prepayments and accrued income 388 1,547
VAT recoverable 339 26
1,180 2,112

4. Creditors: amounts falling due within one year

31.12.2023 30.04.2023
£ £
Amounts owed to Group undertakings 5,861 2,192
Accruals 4,000 1,650
9,861 3,842

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

5. Called-up share capital

31.12.2023 30.04.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

At 31 December 2023, the company owed Voyageur Publishing and Events Limited an amount of £5,861 (April 2023: £2,192).