Company registration number 02680825 (England and Wales)
S.D.C. MANUFACTURING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
S.D.C. MANUFACTURING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
S.D.C. MANUFACTURING LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
432,052
339,291
Current assets
Stocks
92,727
80,215
Debtors
4
269,081
276,529
Cash at bank and in hand
731,203
389,626
1,093,011
746,370
Creditors: amounts falling due within one year
5
(511,825)
(406,789)
Net current assets
581,186
339,581
Total assets less current liabilities
1,013,238
678,872
Creditors: amounts falling due after more than one year
6
(108,356)
(52,104)
Provisions for liabilities
7
(106,617)
(83,579)
Net assets
798,265
543,189
Capital and reserves
Called up share capital
30
30
Profit and loss reserves
798,235
543,159
Total equity
798,265
543,189
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
S.D.C. MANUFACTURING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 May 2025 and are signed on its behalf by:
Mr D A Barrett
Mrs B E Barrett
Director
Director
Mr C M Barrett
Director
Company Registration No. 02680825
S.D.C. MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
S.D.C. Manufacturing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4/5 Elm Units, Grace Road South, Marsh Barton, Exeter, Devon, EX2 8QE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
Revenue from the sale of goods and amounts for work in progress are recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
10% per annum on cost
Plant and machinery
10% per annum on cost/ 20% per annum on cost/ 33% per annum on cost
Fixtures, fittings & equipment
20% per annum on net book value
Motor vehicles
25% per annum on net book value
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.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
S.D.C. MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from the net profit as reported in the profit and loss account because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic charge.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
20
20
S.D.C. MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
16,315
1,020,949
1,037,264
Additions
1,220
204,498
205,718
Disposals
(106,103)
(106,103)
At 31 January 2025
17,535
1,119,344
1,136,879
Depreciation and impairment
At 1 February 2024
11,339
686,634
697,973
Depreciation charged in the year
611
63,874
64,485
Eliminated in respect of disposals
(57,631)
(57,631)
At 31 January 2025
11,950
692,877
704,827
Carrying amount
At 31 January 2025
5,585
426,467
432,052
At 31 January 2024
4,976
334,315
339,291
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
246,167
256,068
Other debtors
22,914
20,461
269,081
276,529
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
260,059
188,781
Taxation and social security
142,937
114,060
Other creditors
108,829
103,948
511,825
406,789
Included in other creditors is £65,066 (2024: £43,060 ) of hire purchase contracts that are secured against the assets to which they relate.
S.D.C. MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
108,356
52,104
Included in other creditors is £108,356 (2024: £52,104) of hire purchase contracts that are secured against the assets to which they relate.
7
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
106,617
83,579
2025
Movements in the year:
£
Liability at 1 February 2024
83,579
Charge to profit or loss
23,038
Liability at 31 January 2025
106,617
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Within one year
71,816
59,200
Between two and five years
140,045
177,600
211,861
236,800