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REGISTERED NUMBER: 06423227 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Schofield Dyers & Finishers Limited

Schofield Dyers & Finishers Limited (Registered number: 06423227)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Schofield Dyers & Finishers Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C V Simpson
S McConnell





REGISTERED OFFICE: 8 Linnet Court
Cawledge Business Park
Alnwick
Northumberland
NE66 2GD





REGISTERED NUMBER: 06423227 (England and Wales)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Schofield Dyers & Finishers Limited (Registered number: 06423227)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 401,405 500,690

CURRENT ASSETS
Inventories 57,609 88,637
Debtors 5 699,258 671,462
Cash at bank and in hand 15,659 14,882
772,526 774,981
CREDITORS
Amounts falling due within one year 6 967,744 1,001,886
NET CURRENT LIABILITIES (195,218 ) (226,905 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,187

273,785

CREDITORS
Amounts falling due after more than one
year

7

-

(33,333

)

PROVISIONS FOR LIABILITIES (148,000 ) (122,000 )
NET ASSETS 58,187 118,452

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Capital redemption reserve 7,000 7,000
Retained earnings 48,187 108,452
SHAREHOLDERS' FUNDS 58,187 118,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Schofield Dyers & Finishers Limited (Registered number: 06423227)

Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





C V Simpson - Director


Schofield Dyers & Finishers Limited (Registered number: 06423227)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Schofield Dyers & Finishers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value, net of value added tax and discounts provided to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Motor vehicles - Straight line over 5 years
Computer equipment - 25% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 46 ) .

Schofield Dyers & Finishers Limited (Registered number: 06423227)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 1,383,924 57,964 20,195 1,462,083
Additions 8,807 - - 8,807
At 30 September 2024 1,392,731 57,964 20,195 1,470,890
DEPRECIATION
At 1 October 2023 900,623 40,575 20,195 961,393
Charge for year 96,499 11,593 - 108,092
At 30 September 2024 997,122 52,168 20,195 1,069,485
NET BOOK VALUE
At 30 September 2024 395,609 5,796 - 401,405
At 30 September 2023 483,301 17,389 - 500,690

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 516,452 624,025
Amounts owed by group undertakings 168,000 -
Other debtors 5,013 5,013
Prepayments 9,793 42,424
699,258 671,462

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 428,642 544,143
BOS Loan 33,333 50,000
Trade creditors 130,884 75,705
Tax 240,920 144,367
Social security and other taxes 20,622 21,170
VAT 36,210 48,427
Other creditors 9,093 15,992
Accruals and deferred income 68,040 102,082
967,744 1,001,886

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
BOS Loan - 33,333

Schofield Dyers & Finishers Limited (Registered number: 06423227)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 428,642 544,143