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REGISTERED NUMBER: 04024688 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

S & B Drapers Limited

S & B Drapers Limited (Registered number: 04024688)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S & B Drapers Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: B R Chopra
Rajesh Chopra
Raman Chopra



REGISTERED OFFICE: 76 Darras Road
Ponteland
Newcastle Upon Tyne
NE20 9PG



REGISTERED NUMBER: 04024688 (England and Wales)



ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: Barclays Bank Plc
PO Box 22
Gateshead
Tyne and Wear
NE8 1BX

S & B Drapers Limited (Registered number: 04024688)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 651,764 651,764

CURRENT ASSETS
Debtors 5 2,191 2,901
Cash at bank 4,384 4,692
6,575 7,593
CREDITORS
Amounts falling due within one year 6 528,546 527,734
NET CURRENT LIABILITIES (521,971 ) (520,141 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,793

131,623

CREDITORS
Amounts falling due after more than one
year

7

158,624

168,918
NET LIABILITIES (28,831 ) (37,295 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (28,834 ) (37,298 )
SHAREHOLDERS' FUNDS (28,831 ) (37,295 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

S & B Drapers Limited (Registered number: 04024688)

Statement of Financial Position - continued
31 January 2024


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 1 October 2024 and were signed on its behalf by:





Rajesh Chopra - Director


S & B Drapers Limited (Registered number: 04024688)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

S & B Drapers 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 have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

S & B Drapers Limited (Registered number: 04024688)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 651,764
NET BOOK VALUE
At 31 January 2024 651,764
At 31 January 2023 651,764

The directors believe the above value for investment property represents its fair value at 31st January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 973 1,683
Amounts owed by related
company 1,218 1,218
2,191 2,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 16,355 18,260
Tax 1,985 2,690
Social security and other taxes 560 795
Directors' current accounts 503,830 500,743
Accrued expenses 5,816 5,246
528,546 527,734

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 158,624 168,918

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due more than 5yrs 102,428 99,258

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 16,355 18,260

S & B Drapers Limited (Registered number: 04024688)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

8. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans due in 1-2 years 16,355 18,260

Amounts falling due between two and five years:
Bank loans due in 2-5 years 39,841 51,400

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due more than 5yrs 102,428 99,258

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 174,979 187,178

Bank borrowings were secured on the Company's freehold properties.

10. CONTROL

The company was under the control of the directors in the current and previous periods.