Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31No description of principal activityfalse2419false2024-01-01falsefalse 09854439 2024-01-01 2024-12-31 09854439 2023-01-01 2023-12-31 09854439 2024-12-31 09854439 2023-12-31 09854439 2023-01-01 09854439 1 2024-01-01 2024-12-31 09854439 1 2023-01-01 2023-12-31 09854439 2 2024-01-01 2024-12-31 09854439 2 2023-01-01 2023-12-31 09854439 5 2024-01-01 2024-12-31 09854439 5 2023-01-01 2023-12-31 09854439 d:Director1 2024-01-01 2024-12-31 09854439 d:Director2 2024-01-01 2024-12-31 09854439 d:Director3 2024-01-01 2024-12-31 09854439 d:Director4 2024-01-01 2024-12-31 09854439 d:Director5 2024-01-01 2024-12-31 09854439 d:RegisteredOffice 2024-01-01 2024-12-31 09854439 e:Buildings 2024-01-01 2024-12-31 09854439 e:Buildings 2024-12-31 09854439 e:Buildings 2023-12-31 09854439 e:Buildings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:LandBuildings 2024-12-31 09854439 e:LandBuildings 2023-12-31 09854439 e:PlantMachinery 2024-01-01 2024-12-31 09854439 e:PlantMachinery 2024-12-31 09854439 e:PlantMachinery 2023-12-31 09854439 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:MotorVehicles 2024-01-01 2024-12-31 09854439 e:MotorVehicles 2024-12-31 09854439 e:MotorVehicles 2023-12-31 09854439 e:MotorVehicles e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:FurnitureFittings 2024-01-01 2024-12-31 09854439 e:FurnitureFittings 2024-12-31 09854439 e:FurnitureFittings 2023-12-31 09854439 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 09854439 e:OtherPropertyPlantEquipment 2024-12-31 09854439 e:OtherPropertyPlantEquipment 2023-12-31 09854439 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09854439 e:CurrentFinancialInstruments 2024-12-31 09854439 e:CurrentFinancialInstruments 2023-12-31 09854439 e:Non-currentFinancialInstruments 2024-12-31 09854439 e:Non-currentFinancialInstruments 2023-12-31 09854439 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 09854439 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 09854439 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 09854439 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 09854439 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-12-31 09854439 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-12-31 09854439 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-12-31 09854439 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-12-31 09854439 e:ReportableOperatingSegment1 2024-01-01 2024-12-31 09854439 e:ReportableOperatingSegment1 2023-01-01 2023-12-31 09854439 e:UKTax 2024-01-01 2024-12-31 09854439 e:UKTax 2023-01-01 2023-12-31 09854439 e:ShareCapital 2024-01-01 2024-12-31 09854439 e:ShareCapital 2024-12-31 09854439 e:ShareCapital 2023-01-01 2023-12-31 09854439 e:ShareCapital 2023-12-31 09854439 e:ShareCapital 2023-01-01 09854439 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09854439 e:RetainedEarningsAccumulatedLosses 2024-12-31 09854439 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09854439 e:RetainedEarningsAccumulatedLosses 2023-12-31 09854439 e:RetainedEarningsAccumulatedLosses 2023-01-01 09854439 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 09854439 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09854439 d:OrdinaryShareClass1 2024-01-01 2024-12-31 09854439 d:OrdinaryShareClass1 2024-12-31 09854439 d:OrdinaryShareClass1 2023-12-31 09854439 d:OrdinaryShareClass2 2024-01-01 2024-12-31 09854439 d:OrdinaryShareClass2 2024-12-31 09854439 d:OrdinaryShareClass2 2023-12-31 09854439 d:FRS102 2024-01-01 2024-12-31 09854439 d:Audited 2024-01-01 2024-12-31 09854439 d:FullAccounts 2024-01-01 2024-12-31 09854439 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09854439 e:WithinOneYear 2024-12-31 09854439 e:WithinOneYear 2023-12-31 09854439 e:BetweenOneFiveYears 2024-12-31 09854439 e:BetweenOneFiveYears 2023-12-31 09854439 6 2024-01-01 2024-12-31 09854439 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 09854439







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


SLOANE CURTIS INTERIORS LTD






































img329b.png                        

 


SLOANE CURTIS INTERIORS LTD
 


 
COMPANY INFORMATION


Directors
L D J Caswell 
C Lewis 
P Weaver 
C Donald 
I Brooker 




Registered number
09854439



Registered office
Unit 2 Marquis Business Centre
Royston Road

Baldock

Hertfordshire

SG7 6XL




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Richmond House

Walkern Road

Stevenage

Herts

SG1 3QP





 


SLOANE CURTIS INTERIORS LTD
 



CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditor's Report
5 - 8
Profit and Loss Account
9
Statement of Comprehensive Income
10
Statement of Financial Position
11
Statement of Changes in Equity
12 - 13
Statement of Cash Flows
14
Analysis of Net Debt
15
Notes to the Financial Statements
16 - 27


 


SLOANE CURTIS INTERIORS LTD
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
Sloane Curtis Interiors Ltd specialises in retail fit-outs and enabling works for commercial landlords and tenants. Operating from its headquarters in Hertfordshire, with regional offices in Warrington and Gatwick the company delivers high-quality interior solutions for commercial spaces across the UK. The business has continued its trajectory of growth through a combination of strong project delivery, client satisfaction, and investment in internal capabilities.

Business review
 
The year 2024 marked a significant upturn in operational and financial performance. The company achieved a turnover of £19.4 million, representing a 63% increase over 2023 (£11.9 million). Gross profit rose to £4.3 million, with net profit after tax reaching £1.83 million, up from £1.23 million in 2023.
Major contributors to this growth included:
• Increased demand for retail and commercial space refurbishments.
• Expansion of the client base into new commercial sectors.
• Improved project delivery timelines and cost control.
Additionally, the company invested significantly in its infrastructure and asset base, with capital expenditures including:
• £484k on tangible fixed 
• £502k acquisition of investment property.
• £675k on listed and unlisted financial investments.

Principal risks and uncertainties
 
The principal risks faced by the company include:
• Market Risk: Uncertainties in commercial property trends and macroeconomic pressures may affect demand.
• Labour Availability: The company relies on subcontractors and skilled trades; shortages may impact project delivery.
• Cost Inflation: Fluctuations in materials and logistics costs can affect profitability.
• Regulatory Compliance: Continued vigilance is required to meet changing regulations in building safety, 
             employment law, and taxation.
To mitigate these risks, the company maintains:
• A robust risk assessment framework across operations.
• Long-standing relationships with suppliers and subcontractors.
• Ongoing professional development for staff.
• A commitment to internal controls and financial discipline.

Financial key performance indicators
 
Key metrics for the year include:
KPI                           2024 Value 2023 Value
Turnover                     £19,425,176 £11,871,249
Gross Profit Margin    22.1%                  24.9%
Net Profit After Tax £1,826,148 £1,229,631
Net Assets                 £6,100,000 £4,850,100
Cash Reserves £3,715,121 £4,252,711

Page 1

 


SLOANE CURTIS INTERIORS LTD
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Other key performance indicators
 
Employee Headcount: Increased to 24 (from 19), supporting expanded operations.
• Staff Costs: Grew to £2.07m, reflecting investments in talent retention and skills development.
• Fleet & Asset Expansion: Over £427k was invested in new company vehicles to support site operations.
• ESG Initiatives: The company is increasing its focus on environmental impact, including improvements to waste
             handling and efficiency in transport.

Future
The company anticipates that turnover in 2025 will be broadly in line with 2024, albeit potentially somewhat lower as resources are directed toward exploring new markets and business development opportunities. A key focus in the coming year will be the ongoing investment in our new headquarters, which is expected to enhance operational efficiency, team collaboration, and long-term scalability.
While some softening in immediate growth may occur, the long-term outlook remains positive. This is supported by strong client relationships, continued investment in systems and infrastructure, and a flexible approach to market changes. Risks from macroeconomic and regulatory factors persist, but the business remains well-positioned to navigate them effectively.


This report was approved by the board and signed on its behalf.



................................................
L D J Caswell
Director

Date: 27 August 2025

Page 2

 


SLOANE CURTIS INTERIORS LTD
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,826,148 (2023 - £1,229,631).

The directors recommend a dividend of £576,248 (2023 - £137,139).

Directors

The directors who served during the year were:

L D J Caswell 
C Lewis 
P Weaver 
C Donald 
I Brooker 

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 3

 


SLOANE CURTIS INTERIORS LTD
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Auditor

The auditor, Menzies LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
L D J Caswell
Director

Date: 27 August 2025

Page 4

 


SLOANE CURTIS INTERIORS LTD
 

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SLOANE CURTIS INTERIORS LTD

Opinion


We have audited the financial statements of Sloane Curtis Interiors Ltd (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 5

 


SLOANE CURTIS INTERIORS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SLOANE CURTIS INTERIORS LTD (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 


SLOANE CURTIS INTERIORS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SLOANE CURTIS INTERIORS LTD (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including UK Companies Act, employment law, health and safety, pensions legislation and tax legislation.
•We understood how the Company is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures. We assessed the extent of compliance with these legal and compliance procedures as part of our procedures on the related financial statement items.
•The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.
•We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. We identified the risk of override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed by the engagement team included:
•Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
•Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
•Challenging assumptions and judgments made by management in its significant accounting estimates; and
•Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
The assessment did not identify any issues in these areas.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Other matters 
 

The financial statements for the year ended 31st December 2023 were unaudited. As such, no audit opinion was expressed on those financial statements. Our opinion on the current year’s financial statements is not modified in respect of this matter.


Page 7

 


SLOANE CURTIS INTERIORS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SLOANE CURTIS INTERIORS LTD (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





James Fox ACA FCCA (Senior Statutory Auditor)
  
for and on behalf of
Menzies LLP
 
Chartered Accountants
Statutory Auditor
  
Richmond House
Walkern Road
Stevenage
Herts
SG1 3QP

28 August 2025
Page 8

 


SLOANE CURTIS INTERIORS LTD
 


 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023 (unaudited)
Note
£
£

  

Turnover
  
19,425,176
11,871,249

Cost of sales
  
(15,128,417)
(8,919,467)

Gross profit
  
4,296,759
2,951,782

Administrative expenses
  
(2,026,757)
(1,489,134)

Operating profit
 5 
2,270,002
1,462,648

Income from other fixed asset investments
  
492
-

Interest receivable and similar income
  
162,081
33,774

Interest payable and similar expenses
  
-
(1,996)

Profit before tax
  
2,432,575
1,494,426

Tax on profit
  
(606,427)
(264,795)

Profit for the financial year
  
1,826,148
1,229,631

There are no items of other comprehensive income for 2024 or 2023 (unaudited) other than the profit for the year

The notes on pages 16 to 27 form part of these financial statements.

Page 9

 


SLOANE CURTIS INTERIORS LTD
 



STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023 (unaudited)
Note
£
£


Profit for the financial year

  

1,826,148
1,229,631

Other comprehensive income
  

Total comprehensive income for the year
  
1,826,148
1,229,631

There were no recognised gains and losses for 2024 or 2023 (unaudited) other than those included in the profit and loss account.

The notes on pages 16 to 27 form part of these financial statements.

Page 10

 


SLOANE CURTIS INTERIORS LTD
REGISTERED NUMBER:09854439



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023 (unaudited)
Note
£
£

Fixed assets
  

Tangible assets
 13 
1,054,354
340,842

Investments
 14 
693,188
-

  
1,747,542
340,842

Current assets
  

Stocks
  
7,493
151,948

Debtors: amounts falling due within one year
 15 
3,469,335
2,519,659

Current asset investments
 16 
40,001
40,001

Cash at bank and in hand
  
3,715,121
4,252,711

  
7,231,950
6,964,319

Creditors: amounts falling due within one year
 17 
(2,788,658)
(2,354,851)

Net current assets
  
 
 
4,443,292
 
 
4,609,468

Total assets less current liabilities
  
6,190,834
4,950,310

Creditors: amounts falling due after more than one year
 18 
-
(15,000)

Provisions for liabilities
  

Deferred tax
 20 
(90,834)
(85,210)

  
 
 
(90,834)
 
 
(85,210)

Net assets
  
6,100,000
4,850,100


Capital and reserves
  

Called up share capital 
 21 
100
100

Profit and loss account
  
6,099,900
4,850,000

  
6,100,000
4,850,100


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
L D J Caswell
Director

Date: 27 August 2025

The notes on pages 16 to 27 form part of these financial statements.

Page 11

 


SLOANE CURTIS INTERIORS LTD
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
100
4,850,000
4,850,100


Comprehensive income for the year

Profit for the year

-
1,826,148
1,826,148


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
1,826,148
1,826,148


Contributions by and distributions to owners

Dividends: Equity capital
-
(576,248)
(576,248)


Total transactions with owners
-
(576,248)
(576,248)


At 31 December 2024
100
6,099,900
6,100,000


The notes on pages 16 to 27 form part of these financial statements.

Page 12

 


SLOANE CURTIS INTERIORS LTD
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
3,757,508
3,757,608


Comprehensive income for the year

Profit for the year

-
1,229,631
1,229,631


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
1,229,631
1,229,631


Contributions by and distributions to owners

Dividends: Equity capital
-
(137,139)
(137,139)


Total transactions with owners
-
(137,139)
(137,139)


At 31 December 2023 (unaudited)
100
4,850,000
4,850,100


The notes on pages 16 to 27 form part of these financial statements.

Page 13

 


SLOANE CURTIS INTERIORS LTD
 



STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023 (unaudited)
£
£

Cash flows from operating activities

Profit for the financial year
1,826,148
1,229,631

Adjustments for:

Depreciation of tangible assets
272,940
191,598

Loss on disposal of tangible assets
-
78,353

Interest received
162,081
(33,774)

Taxation charge
361,375
270,920

Decrease/(increase) in stocks
144,455
(151,948)

(Increase) in debtors
(1,060,037)
(1,660,570)

Decrease/(increase) in amounts recoverable on long term contracts
110,358
(201,576)

Increase in creditors
112,896
1,838,397

Increase/(decrease) in provisions
5,624
(6,125)

Net fair value (gains)/losses recognised in P&L
(17,696)
-

(Increase)/decrease in amounts owed by conneceted company
(30,461)
135,886

Net cash generated from operating activities

1,887,683
1,690,792


Cash flows from investing activities

Purchase of tangible fixed assets
(986,452)
(132,667)

Sale of tangible fixed assets
-
1,536

Purchase of unlisted and other investments
(675,492)
-

Interest received
(162,081)
33,774

Purchase of current asset investment
-
(40,001)

Net cash from investing activities

(1,824,025)
(137,358)

Cash flows from financing activities

Repayment of loans
(25,000)
(10,000)

Dividends paid
(576,248)
(137,139)

Net cash used in financing activities
(601,248)
(147,139)

Net (decrease)/increase in cash and cash equivalents
(537,590)
1,406,295

Cash and cash equivalents at beginning of year
4,252,711
2,846,416

Cash and cash equivalents at the end of year
3,715,121
4,252,711


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,715,121
4,252,711

3,715,121
4,252,711


The notes on pages 16 to 27 form part of these financial statements.

Page 14

 


SLOANE CURTIS INTERIORS LTD
 



ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

4,252,711

(537,590)

3,715,121

Debt due after 1 year

(15,000)

15,000

-

Debt due within 1 year

(14,713)

14,710

(3)


4,222,998
(507,880)
3,715,118

The notes on pages 16 to 27 form part of these financial statements.

Page 15

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sloane Curtis Interiors Ltd 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 16

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
25%
on cost
Motor vehicles
-
25%
on cost
Fixtures and fittings
-
25%
on cost
Improvements to property
-
over the term of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 17

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
The company did not make any significant judgements (apart from those involving estimations which are detailed below) that have a significant effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Long term contracts
Long term contracts are assessed on a contract basis and are reflected in the income statement by recording revenue and related costs as contract activity progresses. Where the outcome of each long term contract can be assessed with reasonable certainty before its conclusion the attributable profit is recognised in the income statement as the difference between the reported revenue and the related cost for that contract.

Page 18

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Turnover

2024
2023 (unaudited)
£
£

Class 1
19,425,176
11,871,249

19,425,176
11,871,249


All turnover arose within the United Kingdom.


5.


Operating profit

The operating profit is stated after charging:

2024
2023 (unaudited)
£
£

Other operating lease rentals
114,061
75,410

Depreciation
272,940
191,598

Auditors' remuneration
19,000
-

406,001
267,008


6.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2024
2023 (unaudited)
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
19,000
-
Page 19

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023 (unaudited)
£
£

Wages and salaries
1,546,870
1,035,450

Social security costs
181,246
111,869

Cost of defined contribution scheme
337,256
45,077

2,065,372
1,192,396


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Management
5
5



Production
19
14

24
19


8.


Directors' remuneration

2024
2023 (unaudited)
£
£

Directors' emoluments
265,970
229,482

Company contributions to defined contribution pension schemes
120,000
33,000

385,970
262,482


The highest paid director received remuneration of £106,887 (2023 - £100,362).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £61,321 (2023 - £1,321).


9.


Interest receivable

2024
2023 (unaudited)
£
£


Other interest receivable
162,081
33,774

162,081
33,774

Page 20

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Interest payable and similar expenses

2024
2023 (unaudited)
£
£


Other interest payable
-
1,996

-
1,996


11.


Taxation


2024
2023 (unaudited)
£
£

Corporation tax


Current tax on profits for the year
600,803
270,920


600,803
270,920


Total current tax
600,803
270,920

Deferred tax


Origination and reversal of timing differences
5,624
(6,125)

Total deferred tax
5,624
(6,125)


606,427
264,795
Page 21

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 25%) as set out below:

2024
2023 (unaudited)
£
£


Profit on ordinary activities before tax
2,432,575
1,494,426


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
608,144
373,607

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
10,839
19,703

Capital allowances for year in excess of depreciation
(8,009)
46,757

Utilisation of tax losses
-
(86,548)

Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment
(4,547)
(28,032)

Other differences leading to an increase (decrease) in the tax charge
-
(60,692)

Total tax charge for the year
606,427
264,795


12.


Dividends

2024
2023 (unaudited)
£
£


Dividends
576,248
137,139

576,248
137,139


13.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Improvement to property

£
£
£
£
£



Cost or valuation


At 1 January 2024
-
159,477
608,517
44,672
48,640


Additions
502,218
41,190
427,723
15,321
-



At 31 December 2024

502,218
200,667
1,036,240
59,993
48,640
Page 22

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           13.Tangible fixed assets (continued)




Depreciation


At 1 January 2024
-
134,362
312,472
33,097
40,533


Charge for the year on owned assets
-
27,153
228,570
9,110
8,107



At 31 December 2024

-
161,515
541,042
42,207
48,640



Net book value



At 31 December 2024
502,218
39,152
495,198
17,786
-



At 31 December 2023 (unaudited)
-
25,115
296,045
11,575
8,107

Total

£



Cost or valuation


At 1 January 2024
861,306


Additions
986,452



At 31 December 2024

1,847,758



Depreciation


At 1 January 2024
520,464


Charge for the year on owned assets
272,940



At 31 December 2024

793,404



Net book value



At 31 December 2024
1,054,354



At 31 December 2023 (unaudited)
340,842

Page 23

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           13.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023 (unaudited)
£
£

Freehold
502,218
-

502,218
-



14.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


Additions
500,492
175,000
675,492


Revaluations
17,696
-
17,696



At 31 December 2024
518,188
175,000
693,188





15.


Debtors

2024
2023 (unaudited)
£
£


Trade debtors
2,505,964
1,781,851

Other debtors
706,220
407,197

Prepayments and accrued income
57,751
20,853

Amounts recoverable on long-term contracts
199,400
309,758

3,469,335
2,519,659



16.


Current asset investments

2024
2023 (unaudited)
£
£

CA investments - unlisted
40,001
40,001

40,001
40,001


Page 24

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Creditors: Amounts falling due within one year

2024
2023 (unaudited)
£
£

Bank loans
-
10,000

Trade creditors
932,420
809,972

Corporation tax
601,834
270,920

Other taxation and social security
737,754
1,109,045

Other creditors
33,265
27,552

Accruals and deferred income
483,385
127,362

2,788,658
2,354,851





18.


Creditors: Amounts falling due after more than one year

2024
2023 (unaudited)
£
£

Bank loans
-
15,000

-
15,000




Page 25

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

19.


Loans


Analysis of the maturity of loans is given below:


2024
2023 (unaudited)
£
£

Amounts falling due within one year

Bank loans
-
10,000


-
10,000

Amounts falling due 1-2 years

Bank loans
-
10,000


-
10,000

Amounts falling due 2-5 years

Bank loans
-
5,000


-
5,000


-
25,000



20.


Deferred taxation




2024


£






At beginning of year
(85,210)


Charged to profit or loss
(5,624)



At end of year
(90,834)

The provision for deferred taxation is made up as follows:

2024
2023 (unaudited)
£
£


Accelerated capital allowances
(90,834)
(85,210)

(90,834)
(85,210)

Page 26

 


SLOANE CURTIS INTERIORS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

21.


Share capital

2024
2023 (unaudited)
£
£
Allotted, called up and fully paid



90 (2023 - 90) Ordinary £1 shares of £1.00 each
90
90
10 (2023 - 10) Ordinary A shares of £1.00 each
10
10

100

100



22.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023 (unaudited)
£
£


Not later than 1 year
79,674
31,500

Later than 1 year and not later than 5 years
233,542
2,625

313,216
34,125


23.


Transactions with directors

During the year a loan of £56,851 was advanced to a director. The loan is interest free and repayable on demand.


24.


Controlling party

There is no single ultimate controlling party.

 
Page 27