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Sander-Shade Blinds Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01953603
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,425 44,614
Investments 5 200 200
82,625 44,814
CURRENT ASSETS
Stocks 6 260,600 325,675
Debtors 7 387,666 400,406
Cash at bank and in hand 17,670 11,369
665,936 737,450
Creditors: Amounts Falling Due Within One Year 8 (549,983 ) (551,974 )
NET CURRENT ASSETS (LIABILITIES) 115,953 185,476
TOTAL ASSETS LESS CURRENT LIABILITIES 198,578 230,290
Creditors: Amounts Falling Due After More Than One Year 9 (56,667 ) (96,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,661 ) (7,138 )
NET ASSETS 126,250 126,485
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 126,050 126,285
SHAREHOLDERS' FUNDS 126,250 126,485
Page 1
Page 2
For the year ending 31 December 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin White
Director
Miss Helen Poulter
Director
23/09/2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Sander-Shade Blinds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01953603 . The registered office is Thornhill Brigg Mills, Thornhill Beck Lane, Brighouse, West Yorkshire, HD6 4AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold on the term of leasehold
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 20% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 35 35
35 35
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 62,104 251,762 118,656 138,431
Additions - 39,800 - -
Disposals - (20,000 ) - -
As at 31 December 2023 62,104 271,562 118,656 138,431
Depreciation
As at 1 January 2023 62,104 235,803 113,960 134,709
Provided during the period - 9,162 1,174 745
Disposals - (20,000 ) - -
As at 31 December 2023 62,104 224,965 115,134 135,454
Net Book Value
As at 31 December 2023 - 46,597 3,522 2,977
As at 1 January 2023 - 15,959 4,696 3,722
Computer Equipment Total
£ £
Cost
As at 1 January 2023 58,248 629,201
Additions 14,368 54,168
Disposals - (20,000 )
As at 31 December 2023 72,616 663,369
Depreciation
As at 1 January 2023 38,011 584,587
Provided during the period 5,276 16,357
Disposals - (20,000 )
As at 31 December 2023 43,287 580,944
Net Book Value
As at 31 December 2023 29,329 82,425
As at 1 January 2023 20,237 44,614
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Page 6
5. Investments
Other
£
Cost
As at 1 January 2023 200
As at 31 December 2023 200
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 200
As at 1 January 2023 200
6. Stocks
2023 2022
£ £
Finished goods 260,600 325,675
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 239,701 214,333
Other debtors 107,492 145,441
Directors' loan accounts 40,473 40,632
387,666 400,406
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 244,211 275,349
Bank loans and overdrafts 40,000 40,000
Other taxes and social security (Current liabilities - creditors < 1 year) 139,689 120,185
Other creditors 26,911 29,098
Other creditors (4) 99,172 87,342
549,983 551,974
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 56,667 96,667
56,667 96,667
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Kevin White 20,316 - (80 ) - 20,236
Miss Helen Poulter 20,316 - (80 ) - 20,236
The above loan is unsecured, and repayable on demand. Interest has been charged at a commercial rate.
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