Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Timothy John Blake 01/10/2024 24/01/2024 Daniel Jon Edwards 24/01/2024 Paul Freedman 23/12/2016 Michael John Parry 01/01/2024 26 June 2025 The principal activity of the Company during the financial year was the manufacture and scale of picture frames. 04701997 2024-09-30 04701997 bus:Director1 2024-09-30 04701997 bus:Director2 2024-09-30 04701997 bus:Director3 2024-09-30 04701997 bus:Director4 2024-09-30 04701997 2023-09-30 04701997 core:CurrentFinancialInstruments 2024-09-30 04701997 core:CurrentFinancialInstruments 2023-09-30 04701997 core:Non-currentFinancialInstruments 2024-09-30 04701997 core:Non-currentFinancialInstruments 2023-09-30 04701997 core:ShareCapital 2024-09-30 04701997 core:ShareCapital 2023-09-30 04701997 core:RetainedEarningsAccumulatedLosses 2024-09-30 04701997 core:RetainedEarningsAccumulatedLosses 2023-09-30 04701997 core:Vehicles 2023-09-30 04701997 core:FurnitureFittings 2023-09-30 04701997 core:Vehicles 2024-09-30 04701997 core:FurnitureFittings 2024-09-30 04701997 core:ImmediateParent core:CurrentFinancialInstruments 2024-09-30 04701997 core:ImmediateParent core:CurrentFinancialInstruments 2023-09-30 04701997 bus:OrdinaryShareClass1 2024-09-30 04701997 2023-10-01 2024-09-30 04701997 bus:FilletedAccounts 2023-10-01 2024-09-30 04701997 bus:SmallEntities 2023-10-01 2024-09-30 04701997 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04701997 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04701997 bus:Director1 2023-10-01 2024-09-30 04701997 bus:Director2 2023-10-01 2024-09-30 04701997 bus:Director3 2023-10-01 2024-09-30 04701997 bus:Director4 2023-10-01 2024-09-30 04701997 core:Vehicles core:TopRangeValue 2023-10-01 2024-09-30 04701997 core:FurnitureFittings core:TopRangeValue 2023-10-01 2024-09-30 04701997 2022-10-01 2023-09-30 04701997 core:Vehicles 2023-10-01 2024-09-30 04701997 core:FurnitureFittings 2023-10-01 2024-09-30 04701997 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 04701997 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 04701997 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04701997 (England and Wales)

DARBYSHIRE LIMITED

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

DARBYSHIRE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

DARBYSHIRE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
DARBYSHIRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 40,365 57,149
40,365 57,149
Current assets
Stocks 4 163,730 160,054
Debtors 5 1,497,271 1,712,181
Cash at bank and in hand 304,024 312,400
1,965,025 2,184,635
Creditors: amounts falling due within one year 6 ( 709,777) ( 654,366)
Net current assets 1,255,248 1,530,269
Total assets less current liabilities 1,295,613 1,587,418
Creditors: amounts falling due after more than one year 7 ( 87,904) ( 180,492)
Net assets 1,207,709 1,406,926
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 1,207,609 1,406,826
Total shareholder's funds 1,207,709 1,406,926

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.

Directors' responsibilities:

The financial statements of Darbyshire Limited (registered number: 04701997) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

Paul Freedman
Director
DARBYSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
DARBYSHIRE LIMITED

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 year, unless otherwise stated.

General information and basis of accounting

Darbyshire Limited (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 19-23 White Lion Street, London, N1 9PD, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line
Fixtures and fittings 4 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 47 48

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 October 2023 137,944 295,498 433,442
Additions 0 4,019 4,019
Disposals ( 26,530) 0 ( 26,530)
At 30 September 2024 111,414 299,517 410,931
Accumulated depreciation
At 01 October 2023 94,333 281,960 376,293
Charge for the financial year 13,190 7,613 20,803
Disposals ( 26,530) 0 ( 26,530)
At 30 September 2024 80,993 289,573 370,566
Net book value
At 30 September 2024 30,421 9,944 40,365
At 30 September 2023 43,611 13,538 57,149

4. Stocks

2024 2023
£ £
Stocks 163,730 160,054

5. Debtors

2024 2023
£ £
Trade debtors 263,015 562,215
Amounts owed by Parent undertakings 1,026,989 983,334
Other debtors 207,267 166,632
1,497,271 1,712,181

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 45,000 45,000
Trade creditors 302,180 241,394
Taxation and social security 177,028 199,102
Obligations under finance leases and hire purchase contracts 29,891 20,544
Other creditors 155,678 148,326
709,777 654,366

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 71,250 116,250
Obligations under finance leases and hire purchase contracts 16,654 64,242
87,904 180,492

Hire purchase balances are secured over the asset to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
118,431 118,831

At the balance sheet date an amount of £118,831 (2023: £118,831) is owed to the director. The loan is interest-free, with no fixed repayment date.