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Company No: 12485815 (England and Wales)

SISTER BY STUDIO ASHBY LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SISTER BY STUDIO ASHBY LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SISTER BY STUDIO ASHBY LTD

BALANCE SHEET

As at 31 December 2024
SISTER BY STUDIO ASHBY LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 23,375 0
Tangible assets 4 49,034 37,059
72,409 37,059
Current assets
Stocks 53,415 26,916
Debtors 5 83,241 129,286
Cash at bank and in hand 202,678 35,177
339,334 191,379
Creditors: amounts falling due within one year 6 ( 259,245) ( 173,330)
Net current assets 80,089 18,049
Total assets less current liabilities 152,498 55,108
Provision for liabilities 7 ( 18,030) ( 9,220)
Net assets 134,468 45,888
Capital and reserves
Called-up share capital 100 100
Profit and loss account 134,368 45,788
Total shareholders' funds 134,468 45,888

For the financial year ending 31 December 2024 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 Sister by Studio Ashby Ltd (registered number: 12485815) were approved and authorised for issue by the Board of Directors on 11 August 2025. They were signed on its behalf by:

S G K Casely-Hayford
Director
SISTER BY STUDIO ASHBY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SISTER BY STUDIO ASHBY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
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

Sister by Studio Ashby Ltd (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 Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Blewcoat, 23 Caxton Street, London, SW1H 0PY.

The financial statements have been prepared under the historical cost convention, modified to include 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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 accruals or prepayments 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.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
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:

Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 0 0
Additions 25,500 25,500
At 31 December 2024 25,500 25,500
Accumulated amortisation
At 01 January 2024 0 0
Charge for the financial year 2,125 2,125
At 31 December 2024 2,125 2,125
Net book value
At 31 December 2024 23,375 23,375
At 31 December 2023 0 0

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2024 46,236 748 46,984
Additions 24,236 5,737 29,973
Disposals ( 8,051) 0 ( 8,051)
At 31 December 2024 62,421 6,485 68,906
Accumulated depreciation
At 01 January 2024 9,510 415 9,925
Charge for the financial year 11,300 899 12,199
Disposals ( 2,252) 0 ( 2,252)
At 31 December 2024 18,558 1,314 19,872
Net book value
At 31 December 2024 43,863 5,171 49,034
At 31 December 2023 36,726 333 37,059

5. Debtors

2024 2023
£ £
Trade debtors 29,835 28,725
Other debtors 53,406 100,561
83,241 129,286

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 41,055 5,597
Taxation and social security 22,449 29,300
Other creditors 195,741 138,433
259,245 173,330

7. Provision for liabilities

2024 2023
£ £
Deferred tax 18,030 9,220

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 108,000 108,000
between one and five years 81,000 189,000
189,000 297,000

The commitment shown above is in relation to non-cancellable operating leases over business premises.