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Registration number: 02046222

S.D.S. (London) Limited

Unaudited Financial Statements

for the Year Ended 31 January 2025

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

S.D.S. (London) Limited

Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

105,931

158,897

Tangible assets

5

205,147

257,497

Investments

6

1

-

Other financial assets

7

5,000

5,000

 

316,079

421,394

Current assets

 

Stocks

8

843,711

1,021,873

Debtors

9

268,022

331,321

Cash at bank and in hand

 

478,424

689,527

 

1,590,157

2,042,721

Creditors: Amounts falling due within one year

10

(1,090,328)

(1,249,984)

Net current assets

 

499,829

792,737

Total assets less current liabilities

 

815,908

1,214,131

Provisions for liabilities

(38,500)

(55,104)

Net assets

 

777,408

1,159,027

Capital and reserves

 

Called up share capital

3,033

3,033

Share premium reserve

74,788

74,788

Retained earnings

699,587

1,081,206

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

S.D.S. (London) Limited

Statement of Financial Position as at 31 January 2025

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2
20 Weir Road
London
SW19 8UG

The principal activity of the company is that of retailing decorating materials, ironmongery and ancillary products.

2

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

The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts..

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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:

Asset class

Amortisation method and rate

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:

Asset class

Depreciation method and rate

Leasehold property

Over the term of the lease

Plant and equipment

Between 3 and 10 years straight line

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 33 (2024 - 38).

 

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Intangible assets

Website Development
 £

Cost

At 1 February 2024

253,557

At 31 January 2025

253,557

Amortisation

At 1 February 2024

94,660

Amortisation charge

52,966

At 31 January 2025

147,626

Carrying amount

At 31 January 2025

105,931

At 31 January 2024

158,897

5

Tangible assets

Leasehold property
£

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 February 2024

421,433

14,351

303,025

738,809

Disposals

(8,234)

-

-

(8,234)

At 31 January 2025

413,199

14,351

303,025

730,575

Depreciation

At 1 February 2024

247,467

12,435

221,410

481,312

Charge for the year

28,487

479

23,383

52,349

Eliminated on disposal

(8,233)

-

-

(8,233)

At 31 January 2025

267,721

12,914

244,793

525,428

Carrying amount

At 31 January 2025

145,478

1,437

58,232

205,147

At 31 January 2024

173,966

1,916

81,615

257,497

 

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Investments

2025
£

2024
£

Investments in subsidiaries

1

-

Subsidiaries

£

Cost or valuation

Additions

1

Provision

Carrying amount

At 31 January 2025

1

7

Other financial assets

Financial assets at cost less impairment
£

Non-current financial assets

Cost

At 1 February 2024 and 31 January 2025

5,000

Carrying amount

At 31 January 2025

5,000

At 31 January 2024

5,000

8

Stocks

2025
£

2024
£

Stock

843,711

1,021,873

 

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Debtors

2025
£

2024
£

Trade debtors

187,107

230,069

Other debtors

80,915

101,252

268,022

331,321

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.

10

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Trade creditors

721,623

783,973

Taxation and social security

260,528

297,104

Other creditors

108,177

168,907

1,090,328

1,249,984

11

Financial commitments, guarantees and contingencies

At 31 January 2025 the total amount of future lease payments under non-cancellable operating leases amounted to £852,016 (2024: £1,649,228).