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Registered Number: 10437396
England and Wales

 

 

 

DERBY TRADING LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Directors Eli Emanuel
Gabriel Emanuel
Registered Number 10437396
Registered Office Catalyst House 720 Centennial Avenue
Elstree
WD6 3SY
Accountants The Expert Eye
Catalyst House
720 Centennial Avenue
Elstree, Borehamwood
WD6 3SY
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,616    5,348 
Investments 4 75,279   
78,895    5,348 
Current assets      
Stocks 5 5,361,871    5,604,117 
Debtors 6 1,618,013    2,044,769 
Cash at bank and in hand 16,877    685,998 
6,996,761    8,334,884 
Creditors: amount falling due within one year 7 (4,408,823)   (5,503,710)
Net current assets 2,587,938    2,831,174 
 
Total assets less current liabilities 2,666,833    2,836,522 
Creditors: amount falling due after more than one year 8 (542,548)   (549,859)
Provisions for liabilities 9 (904)   (1,016)
Net assets 2,123,381    2,285,647 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 2,122,381    2,284,647 
Shareholders' funds 2,123,381    2,285,647 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 July 2025 and were signed on its behalf by:


-------------------------------
Eli Emanuel
Director
2
General Information
Derby Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 10437396, registration address Catalyst House 720 Centennial Avenue, Elstree, WD6 3SY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25 Reducing Balance
Computer Equipment 33 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2023 : 9).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 November 2023 483    19,718    20,201 
Additions    
Disposals    
At 31 October 2024 483    19,718    20,201 
Depreciation
At 01 November 2023   16,415    16,415 
Charge for year 170      170 
On disposals    
At 31 October 2024 170    16,415    16,585 
Net book values
Closing balance as at 31 October 2024 313    3,303    3,616 
Opening balance as at 01 November 2023 418    4,930    5,348 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 November 2023  
Additions 75,279    75,279 
Transfer to/from tangible fixed assets  
Disposals  
At 31 October 2024 75,279    75,279 

5.

Stocks

2024
£
  2023
£
Stocks 5,361,871    5,604,117 
5,361,871    5,604,117 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 938,896    1,522,105 
Prepayments & Accrued Income 4,280    7,836 
Other Debtors 606,973    514,828 
Corporation Tax 65,477   
VAT 2,387   
1,618,013    2,044,769 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,168,153    335,698 
Bank Loans & Overdrafts 2,844,439    4,106,700 
Corporation Tax   23,507 
PAYE & Social Security 7,647    156,185 
Income tax on payments   10,010 
Accrued Expenses 78,307    379,936 
Other Creditors 8,682    36,099 
Wages & Salaries Control Account 14,220   
Directors' Current Accounts 287,375    451,116 
VAT   4,459 
4,408,823    5,503,710 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Directors' Loan Accounts 542,548    549,859 
542,548    549,859 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 904    1,016 
904    1,016 

3