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REGISTERED NUMBER: 02634750 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Samuel Eales Silverware Limited

Samuel Eales Silverware Limited (Registered number: 02634750)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Samuel Eales Silverware Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: T Eales





SECRETARY: R Eales





REGISTERED OFFICE: Inkerman Works
Douglas Road
Sheffield
South Yorkshire
S3 9SA





REGISTERED NUMBER: 02634750 (England and Wales)





ACCOUNTANTS: Camplejohn Rowan
CFC House
Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

Samuel Eales Silverware Limited (Registered number: 02634750)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 917,689 1,018,542

CURRENT ASSETS
Stocks 338,434 230,000
Debtors 5 58,389 125,612
Cash at bank and in hand 92,258 12,314
489,081 367,926
CREDITORS
Amounts falling due within one year 6 (210,427 ) (119,905 )
NET CURRENT ASSETS 278,654 248,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,196,343

1,266,563

CREDITORS
Amounts falling due after more than one
year

7

-

(4,065

)

PROVISIONS FOR LIABILITIES (49,940 ) (53,854 )
NET ASSETS 1,146,403 1,208,644

CAPITAL AND RESERVES
Called up share capital 102 102
Revaluation reserve 8 1,130,548 1,198,031
Retained earnings 8 15,753 10,511
SHAREHOLDERS' FUNDS 1,146,403 1,208,644

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 director acknowledges his 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.

Samuel Eales Silverware Limited (Registered number: 02634750)

Balance Sheet - 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 director and authorised for issue on 26 June 2025 and were signed by:





T Eales - Director


Samuel Eales Silverware Limited (Registered number: 02634750)

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

1. STATUTORY INFORMATION

Samuel Eales Silverware 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sale of goods, excluding discounts, VAT and other taxes. It is recognised when the risks and rewards of ownership are transferred to the customer which is normally when the products are delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 7 (2023 - 7 ) .

Samuel Eales Silverware Limited (Registered number: 02634750)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 October 2023 854,240 822,598 1,293
Additions - 2,251 -
At 30 September 2024 854,240 824,849 1,293
DEPRECIATION
At 1 October 2023 119,594 552,840 1,293
Charge for year 17,084 82,485 -
At 30 September 2024 136,678 635,325 1,293
NET BOOK VALUE
At 30 September 2024 717,562 189,524 -
At 30 September 2023 734,646 269,758 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 31,285 5,962 1,715,378
Additions - - 2,251
At 30 September 2024 31,285 5,962 1,717,629
DEPRECIATION
At 1 October 2023 17,403 5,706 696,836
Charge for year 3,471 64 103,104
At 30 September 2024 20,874 5,770 799,940
NET BOOK VALUE
At 30 September 2024 10,411 192 917,689
At 30 September 2023 13,882 256 1,018,542

Samuel Eales Silverware Limited (Registered number: 02634750)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 1993 35,000 - -
Valuation in 2004 60,000 - -
Valuation in 2011 - 134,116 -
Valuation in 2015 - 162,240 -
Valuation in 2016 719,240 158,880 -
Valuation in 2018 - 56,750 -
Cost 40,000 312,863 1,293
854,240 824,849 1,293

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 1993 - - 35,000
Valuation in 2004 - - 60,000
Valuation in 2011 - - 134,116
Valuation in 2015 - - 162,240
Valuation in 2016 - - 878,120
Valuation in 2018 - - 56,750
Cost 31,285 5,962 391,403
31,285 5,962 1,717,629

If freehold property had not been revalued it would have been included at the following historical cost:
Cost £40,000 (2023: £40,000).
Aggregate depreciation £27,800 (2023: £27,000)
Freehold property was revalued on an open market basis on 1 October 2016 by the directors.

If plant & machinery had not been revalued it would have been included at the following historical cost:
Cost £312,862 (2023: £310,611).
Aggregate depreciation £326,678 (2023: £295,392)
Plant & machinery was revalued on an open market basis on 30 September 2018 by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 54,147 122,591
VAT 251 -
Prepayments 3,991 3,021
58,389 125,612

Samuel Eales Silverware Limited (Registered number: 02634750)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 16,667 26,667
Hire purchase contracts 4,065 8,131
Trade creditors 21,050 82,992
Tax 6,682 (4,384 )
Social security and other taxes 1,731 2,351
VAT - 2,448
Other creditors 158,651 119
Directors' current accounts 78 78
Accruals & prepaid income 1,503 1,503
210,427 119,905

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts - 4,065

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 10,511 1,198,031 1,208,542
Deficit for the year (25,114 ) (25,114 )
Dividends (37,127 ) (37,127 )
Transfer from unrealised to realised
profits

67,483

(67,483

)

-

At 30 September 2024 15,753 1,130,548 1,146,301

9. ULTIMATE CONTROLLING PARTY

The controlling party is T Eales.