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COMPANY REGISTRATION NUMBER: 07301447
Sales Direct Online Limited
Filleted Financial Statements
31 January 2024
Sales Direct Online Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
488,788
300,282
Cash at bank and in hand
395,315
625,860
---------
---------
884,103
926,142
Creditors: amounts falling due within one year
6
( 225,294)
( 312,284)
---------
---------
Net current assets
658,809
613,858
---------
---------
Total assets less current liabilities
658,809
613,858
---------
---------
Net assets
658,809
613,858
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
7
658,709
613,758
---------
---------
Shareholders funds
658,809
613,858
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
G A Newton
Director
Company registration number: 07301447
Sales Direct Online Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Ropergate End, Pontefract, West Yorkshire, WF8 1JT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Revenue in respect of turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Income tax
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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 is realised.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Basic financial instruments are recognised at amortised cost. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 before operating profit.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 24 ).
5. Debtors
2024
2023
£
£
Trade debtors
377,240
299,839
Amounts owed by group undertakings and undertakings in which the company has a participating interest
110,815
Other debtors
733
443
---------
---------
488,788
300,282
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,653
41,176
Amounts owed to group undertakings and undertakings in which the company has a participating interest
23,209
Corporation tax
50,272
84,048
Social security and other taxes
105,932
114,784
Other creditors
63,437
49,067
---------
---------
225,294
312,284
---------
---------
7. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
8. Summary audit opinion
The auditor's report dated 31 October 2024 was unqualified .
The senior statutory auditor was Michael Flanagan , for and on behalf of Holmes Beaumont & Holroyd Limited .
9. Directors' advances, credits and guarantees
No advances were made to any director of the company during the year and no amounts in respect of advances to directors were outstanding at the year end. The company has not provided any guarantees on behalf of its directors during the year.
10. Controlling party
The company is a wholly owned subsidiary of Newton Holdings Yorkshire Limited.