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REGISTERED NUMBER: 03865853 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Trimmings By Design Limited

Trimmings By Design Limited (Registered number: 03865853)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trimmings By Design Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr G M Redfern
Ms J F Higgins





REGISTERED OFFICE: Gresham Road
Derby
Derbyshire
DE24 8AW





REGISTERED NUMBER: 03865853 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Trimmings By Design Limited (Registered number: 03865853)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,680 109,552

CURRENT ASSETS
Stocks 752,950 698,916
Debtors 5 457,791 733,170
Cash at bank 1,509,967 2,019,264
2,720,708 3,451,350
CREDITORS
Amounts falling due within one year 6 652,206 561,607
NET CURRENT ASSETS 2,068,502 2,889,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,240,182

2,999,295

PROVISIONS FOR LIABILITIES 8 32,004 15,791
NET ASSETS 2,208,178 2,983,504

CAPITAL AND RESERVES
Called up share capital 9 56,000 56,000
Share premium 395,160 395,160
Capital redemption reserve 44,000 44,000
Retained earnings 1,713,018 2,488,344
SHAREHOLDERS' FUNDS 2,208,178 2,983,504

Trimmings By Design Limited (Registered number: 03865853)

Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

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 17 June 2025 and were signed on its behalf by:





Mr G M Redfern - Director


Trimmings By Design Limited (Registered number: 03865853)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery- Cost over five to seven years
Fixtures, fittings and office equipment- Cost over four to five years
Motor vehicles- Cost over four years

Stocks
Stocks consist of yarn raw materials and finished goods and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes materials, direct labour and production overheads appropriate to the relevant stage of production. Net realisable value is based on estimated selling price less all further costs to completion and all relevant marketing, selling and distribution costs.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Trimmings By Design Limited (Registered number: 03865853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 group personal pension scheme, which all employees are eligible to join, and individual personal pension schemes for directors. The company's contributions to all schemes are charged to the profit and loss account as they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 44 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Improvements and
to Plant and office Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 44,038 138,428 87,807 10,699 280,972
Additions 13,466 34,800 1,079 57,959 107,304
Disposals - (42,900 ) (54,505 ) - (97,405 )
At 31 December 2024 57,504 130,328 34,381 68,658 290,871
DEPRECIATION
At 1 January 2024 24,422 79,762 64,784 2,452 171,420
Charge for year 7,570 15,851 10,645 11,110 45,176
Eliminated on disposal - (42,900 ) (54,505 ) - (97,405 )
At 31 December 2024 31,992 52,713 20,924 13,562 119,191
NET BOOK VALUE
At 31 December 2024 25,512 77,615 13,457 55,096 171,680
At 31 December 2023 19,616 58,666 23,023 8,247 109,552

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 336,558 605,015
Amounts owed by group undertakings - 3,551
Other debtors 1,226 644
Prepayments and accrued income 120,007 123,960
457,791 733,170

Trimmings By Design Limited (Registered number: 03865853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 267,261 196,954
Amounts owed to group undertakings 51,967 -
Tax 171,506 212,982
Social security and other taxes 57,095 94,612
Other creditors 61,597 9,811
Accruals and deferred income 42,780 47,248
652,206 561,607

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 13,266 1,867
Between one and five years 25,583 -
38,849 1,867

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 32,004 15,791

Deferred
tax
£   
Balance at 1 January 2024 15,791
Provided during year 16,213
Balance at 31 December 2024 32,004

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
56,000 Ordinary £1 56,000 56,000

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Trimmings By Design (Holdings) Limited, a company registered in England & Wales.

The ultimate controlling party is Mr G Redfern.