Silverfin false false 31/01/2025 01/02/2024 31/01/2025 D C Banbury P D Banbury 01/08/2010 S E Banbury 01/08/2010 S D Bennett 27/07/2017 28 July 2025 The principal activity of the company during the financial year was the operation of a department store, storage facility and domestic removals. 00056036 2025-01-31 00056036 bus:Director2 2025-01-31 00056036 bus:Director3 2025-01-31 00056036 bus:Director4 2025-01-31 00056036 2024-01-31 00056036 core:CurrentFinancialInstruments 2025-01-31 00056036 core:CurrentFinancialInstruments 2024-01-31 00056036 core:ShareCapital 2025-01-31 00056036 core:ShareCapital 2024-01-31 00056036 core:RevaluationReserve 2025-01-31 00056036 core:RevaluationReserve 2024-01-31 00056036 core:RetainedEarningsAccumulatedLosses 2025-01-31 00056036 core:RetainedEarningsAccumulatedLosses 2024-01-31 00056036 core:LandBuildings 2024-01-31 00056036 core:OtherPropertyPlantEquipment 2024-01-31 00056036 core:LandBuildings 2025-01-31 00056036 core:OtherPropertyPlantEquipment 2025-01-31 00056036 2024-02-01 2025-01-31 00056036 bus:FilletedAccounts 2024-02-01 2025-01-31 00056036 bus:SmallEntities 2024-02-01 2025-01-31 00056036 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 00056036 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 00056036 bus:Director1 2024-02-01 2025-01-31 00056036 bus:Director2 2024-02-01 2025-01-31 00056036 bus:Director3 2024-02-01 2025-01-31 00056036 bus:Director4 2024-02-01 2025-01-31 00056036 core:LandBuildings core:TopRangeValue 2024-02-01 2025-01-31 00056036 core:OtherPropertyPlantEquipment 2024-02-01 2025-01-31 00056036 2023-02-01 2024-01-31 00056036 core:LandBuildings 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Company No: 00056036 (England and Wales)

EASTMOND AND SON LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

EASTMOND AND SON LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

EASTMOND AND SON LIMITED

BALANCE SHEET

As at 31 January 2025
EASTMOND AND SON LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 368,878 377,563
368,878 377,563
Current assets
Stocks 394,151 404,935
Debtors 4 13,594 13,118
Cash at bank and in hand 1,486,206 1,409,202
1,893,951 1,827,255
Creditors: amounts falling due within one year 5 ( 920,418) ( 871,939)
Net current assets 973,533 955,316
Total assets less current liabilities 1,342,411 1,332,879
Provision for liabilities ( 10,192) ( 9,955)
Net assets 1,332,219 1,322,924
Capital and reserves
Called-up share capital 3,000 3,000
Revaluation reserve 24,752 33,002
Profit and loss account 1,304,467 1,286,922
Total shareholder's funds 1,332,219 1,322,924

For the financial year ending 31 January 2025 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 Eastmond and Son Limited (registered number: 00056036) were approved and authorised for issue by the Board of Directors on 28 July 2025. They were signed on its behalf by:

P D Banbury
Director
EASTMOND AND SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
EASTMOND AND SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
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

Eastmond and Son 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 32/33 High Street, Barnstaple, N.Devon, EX31 1BL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover represents amounts receivable, net of value added tax and trade discounts, in respect of the sale of goods and services to customers and is measured at the fair value of consideration received or receivable. Turnover is recognised on goods at the point of sale and on services over the period in which the services are rendered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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 other debtors or other creditors in the Balance Sheet.

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 Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income represents commissions receivable on retail goods and is measured at the fair value of consideration received or receivable. Commission income is recognised at the point of sale of the goods upon which the commission is receivable.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 12.5 - 33.3 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Stocks

Stock comprises goods for resale and is valued at the current selling price less the standard gross profit margin, reduced for any impairment which is recognised immediately in the profit and loss account.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 34 32

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 February 2024 563,966 831,234 1,395,200
Additions 0 15,265 15,265
Disposals 0 ( 53,627) ( 53,627)
At 31 January 2025 563,966 792,872 1,356,838
Accumulated depreciation
At 01 February 2024 223,127 794,510 1,017,637
Charge for the financial year 9,680 13,610 23,290
Disposals 0 ( 52,967) ( 52,967)
At 31 January 2025 232,807 755,153 987,960
Net book value
At 31 January 2025 331,159 37,719 368,878
At 31 January 2024 340,839 36,724 377,563

Revaluation of tangible assets

Freehold land and buildings were revalued on 31 January 1989 by the directors and the basis of the valuation was open market value. Under previous UK GAAP, the transitional rules of FRS15 have been applied and the valuation was not updated, therefore under FRS102, freehold land and buildings are deemed to be held at cost.

If freehold land and buildings had been accounted for using the cost accounting rules, they would have been measured as follows:

2025 2024
£ £
Historical cost 440,733 440,733
Accumulated depreciation (172,358) (165,142)
Carrying value 268,375 275,591

4. Debtors

2025 2024
£ £
Trade debtors 8,274 8,274
Other debtors 5,320 4,844
13,594 13,118

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 233,394 219,794
Amounts owed to Group undertakings 516,569 469,342
Taxation and social security 80,507 97,975
Other creditors 89,948 84,828
920,418 871,939

6. Off Balance Sheet arrangements

The total amount of guarantees not included in the balance sheet is £950,010 (2024 - £918,452). The company has given an unlimited bank guarantee for the bank borrowings of its parent company, Banburys Limited. The borrowings are secured on the company's freehold property and floating charges over the assets of the company and its parent, Banburys Limited.