Registration number:
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S.D.S. (London) Limited
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S.D.S. (London) Limited
Statement of Financial Position as at 31 January 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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- |
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Other financial assets |
5,000 |
5,000 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3,033 |
3,033 |
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Share premium reserve |
74,788 |
74,788 |
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Retained earnings |
699,587 |
1,081,206 |
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Shareholders' funds |
777,408 |
1,159,027 |
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
S.D.S. (London) Limited
Statement of Financial Position as at 31 January 2025
Approved and authorised by the
.........................................
S M Ayers
Director
Company registration number: 02046222
S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of retailing decorating materials, ironmongery and ancillary products.
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Accounting policies |
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Group accounts not prepared
Going concern
The company had net assets at 31 January 2025 amounting to £777,408 including cash at bank of £478,424.
The company continues to trade profitably and having made enquiries the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from retail sales at the point of sale. E-Commerce and wholesale revenue is recognised at the point of despatch instead of on delivery for practical reasons. The impact of this is assessed at each period end and is immaterial to revenue and profit for the year.
S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Government grants
Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are carried at cost less accumulated amortisation and any accumulated impairment losses.
The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Website development |
20-25% straight line |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold property |
Over the term of the lease |
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Plant and equipment |
Between 3 and 10 years straight line |
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Motor vehicles |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost price (AVCO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee owned trust
The company will make repayments in accordance with the trust agreement until such time as the obligation is fulfilled. The repayments are recorded on a cash paid basis depending on the levels of profitability each year. Payments made late or not made in full will result in an interest charge in accordance with the EOT agreement.
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Staff numbers |
The average number of persons employed by the company during the year, was
S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Intangible assets |
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Website Development |
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Cost |
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At 1 February 2024 |
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At 31 January 2025 |
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Amortisation |
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At 1 February 2024 |
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Amortisation charge |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Tangible assets |
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Leasehold property |
Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 February 2024 |
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Disposals |
( |
- |
- |
( |
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At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
- |
( |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Investments |
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2025 |
2024 |
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Investments in subsidiaries |
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- |
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Subsidiaries |
£ |
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Cost or valuation |
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Additions |
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Provision |
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Carrying amount |
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At 31 January 2025 |
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Other financial assets |
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Financial assets at cost less impairment |
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Non-current financial assets |
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Cost |
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At 1 February 2024 and 31 January 2025 |
5,000 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Stocks |
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2025 |
2024 |
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Stock |
843,711 |
1,021,873 |
S.D.S. (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Other debtors includes an amount of £16,582 (2024: £16,582) which is recoverable after more than one year and is secured in respect of future rental obligations.
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
At 31 January 2025 the total amount of future lease payments under non-cancellable operating leases amounted to £