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GEORGE'S TRADITION (DERBY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025






GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEORGE'S TRADITION (DERBY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: C G Constantinou
Mrs X Constantinou





REGISTERED OFFICE: 52 Broad Street
Leek
Staffordshire
ST13 5NS





REGISTERED NUMBER: 07253135 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,801 31,493
Tangible assets 5 733,049 307,796
760,850 339,289

CURRENT ASSETS
Stocks 17,045 14,500
Debtors 6 365,430 429,653
Cash at bank and in hand 100,112 173,522
482,587 617,675
CREDITORS
Amounts falling due within one year 7 414,241 281,592
NET CURRENT ASSETS 68,346 336,083
TOTAL ASSETS LESS CURRENT LIABILITIES 829,196 675,372

CREDITORS
Amounts falling due after more than one year 8 (219,678 ) (59,664 )

PROVISIONS FOR LIABILITIES 11 (69,600 ) (32,900 )
NET ASSETS 539,918 582,808

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 538,918 581,808
SHAREHOLDERS' FUNDS 539,918 582,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

BALANCE SHEET - continued
31 JANUARY 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





C G Constantinou - Director


GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

George's Tradition (Derby) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 4% on cost
Short leasehold - 4% on cost
Plant and machinery - 8.33% on cost
Fixtures and fittings - 12.5% on cost
Computer equipment - 12.5% on cost

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 Statement of Income and Retained Earnings, 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.


GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 38 (2024 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 73,833
AMORTISATION
At 1 February 2024 42,340
Amortisation for year 3,692
At 31 January 2025 46,032
NET BOOK VALUE
At 31 January 2025 27,801
At 31 January 2024 31,493

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 February 2024 - 283,055 155,015
Additions 329,401 - 39,776
Reclassification/transfer 17,571 (17,571 ) -
At 31 January 2025 346,972 265,484 194,791
DEPRECIATION
At 1 February 2024 - 76,578 73,679
Charge for year 9,253 13,172 14,091
At 31 January 2025 9,253 89,750 87,770
NET BOOK VALUE
At 31 January 2025 337,719 175,734 107,021
At 31 January 2024 - 206,477 81,336

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2024 31,684 20,498 490,252
Additions 106,578 1,528 477,283
Reclassification/transfer - - -
At 31 January 2025 138,262 22,026 967,535
DEPRECIATION
At 1 February 2024 16,108 16,091 182,456
Charge for year 14,468 1,046 52,030
At 31 January 2025 30,576 17,137 234,486
NET BOOK VALUE
At 31 January 2025 107,686 4,889 733,049
At 31 January 2024 15,576 4,407 307,796

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 16,686 12,032
Amounts owed by participating interests 316,198 410,617
Other debtors 32,546 7,004
365,430 429,653

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 65,327 38,512
Trade creditors 114,877 53,584
Taxation and social security 76,695 77,105
Other creditors 157,342 112,391
414,241 281,592

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 219,678 59,664

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,101 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 30,400 30,400
Between one and five years 96,850 109,850
In more than five years 161,575 178,975
288,825 319,225

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 271,050 74,065

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 69,600 32,900

GEORGE'S TRADITION (DERBY) LIMITED (REGISTERED NUMBER: 07253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2024 32,900
Provided during year 36,700
Balance at 31 January 2025 69,600

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
248 Ordinary A £1 248 248
752 Ordinary B £1 752 752
1,000 1,000