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Company No: 14356225 (England and Wales)

SEW CENTRE LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SEW CENTRE LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SEW CENTRE LTD

COMPANY INFORMATION

For the financial year ended 30 September 2024
SEW CENTRE LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTOR Callum Jonathan Macpherson
REGISTERED OFFICE 24 Barker Business Park
Melmerby
Ripon
HG4 5NB
United Kingdom
COMPANY NUMBER 14356225 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
SEW CENTRE LTD

BALANCE SHEET

As at 30 September 2024
SEW CENTRE LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 46,945 17,079
46,945 17,079
Current assets
Stocks 71,000 64,000
Debtors 4 60,846 6,480
Cash at bank and in hand 5 66,203 61,631
198,049 132,111
Creditors: amounts falling due within one year 6 ( 211,410) ( 100,901)
Net current (liabilities)/assets (13,361) 31,210
Total assets less current liabilities 33,584 48,289
Provision for liabilities 7, 8 ( 8,919) 0
Net assets 24,665 48,289
Capital and reserves
Called-up share capital 9 3,000 3,000
Profit and loss account 21,665 45,289
Total shareholders' funds 24,665 48,289

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sew Centre Ltd (registered number: 14356225) were approved and authorised for issue by the Director on 20 January 2025. They were signed on its behalf by:

Callum Jonathan Macpherson
Director
SEW CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SEW CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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

General information and basis of accounting

Sew Centre 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 24 Barker Business Park, Melmerby, Ripon, HG4 5NB, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 - 20 % reducing balance
Vehicles 25 - 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 20 % reducing balance
Computer equipment 3 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
30.09.2024
Period from
14.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 3

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 October 2023 1,471 14,514 0 0 4,354 20,339
Additions 0 0 30,592 3,167 5,358 39,117
At 30 September 2024 1,471 14,514 30,592 3,167 9,712 59,456
Accumulated depreciation
At 01 October 2023 98 2,419 0 0 743 3,260
Charge for the financial year 275 3,024 3,331 211 2,410 9,251
At 30 September 2024 373 5,443 3,331 211 3,153 12,511
Net book value
At 30 September 2024 1,098 9,071 27,261 2,956 6,559 46,945
At 30 September 2023 1,373 12,095 0 0 3,611 17,079

4. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 18,656 6,480
Amounts owed by Group undertakings 31,750 0
Other debtors 10,440 0
60,846 6,480

5. Cash and cash equivalents

30.09.2024 30.09.2023
£ £
Cash at bank and in hand 62,011 49,257
Short-term deposits 4,192 12,374
66,203 61,631

6. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 125,908 60,651
Taxation and social security 29,810 35,748
Other creditors 55,692 4,502
211,410 100,901

7. Provision for liabilities

30.09.2024 30.09.2023
£ £
Deferred tax 8,919 0
Deferred taxation Total
£ £
At 01 October 2023 0 0
Charged to the Statement of Income and Retained Earnings 8,919 8,919
At 30 September 2024 8,919 8,919

Deferred tax

30.09.2024 30.09.2023
£ £
Accelerated capital allowances 8,919 0
Provision for deferred tax 8,919 0

8. Deferred tax

30.09.2024 30.09.2023
£ £
At the beginning of financial year/period 0 0
Charged to the Statement of Income and Retained Earnings ( 8,919) 0
At the end of financial year/period ( 8,919) 0

9. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary A shares of £ 1.00 each 1,000 1,000
1,000 Ordinary B shares of £ 1.00 each 1,000 1,000
1,000 Ordinary C shares of £ 1.00 each 1,000 1,000
3,000 3,000