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Registered number: 06952367
Ashby Decorator Centre Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
SFB Group Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06952367
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 496,386 448,184
Investments 5 301,500 301,500
797,886 749,684
CURRENT ASSETS
Stocks 6 54,462 48,320
Debtors 7 488,117 470,981
Cash at bank and in hand 937,449 2,992,996
1,480,028 3,512,297
Creditors: Amounts Falling Due Within One Year 8 (309,623 ) (1,280,950 )
NET CURRENT ASSETS (LIABILITIES) 1,170,405 2,231,347
TOTAL ASSETS LESS CURRENT LIABILITIES 1,968,291 2,981,031
Creditors: Amounts Falling Due After More Than One Year 9 (69,818 ) (20,377 )
NET ASSETS 1,898,473 2,960,654
CAPITAL AND RESERVES
Called up share capital 11 1,050 1,050
Profit and Loss Account 1,897,423 2,959,604
SHAREHOLDERS' FUNDS 1,898,473 2,960,654
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shaun Winfield
Director
24 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ashby Decorator Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06952367 . The registered office is Unit 8, Oak Spinney Park, Ratby Lane, Leicester Forest East, Leicester, LE3 3AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable
for goods supplied, net of returns, discounts, valued added tax and other sales taxes
Fixed asset investment income
Fixed asset investment income consists of dividend income received from subsidiaries. Dividend income is recognised in the
income statement when the right to payment is established
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% SL
Motor Vehicles 25% RB
Fixtures & Fittings 15% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and 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 balance sheet 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.
2.6. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2023: 44)
39 44
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 434,114 153,261 71,971 659,346
Additions - 182,651 702 183,353
Disposals - (125,895 ) - (125,895 )
As at 31 December 2024 434,114 210,017 72,673 716,804
Depreciation
As at 1 January 2024 122,272 46,314 42,576 211,162
Provided during the period 8,682 27,534 4,514 40,730
Disposals - (31,474 ) - (31,474 )
As at 31 December 2024 130,954 42,374 47,090 220,418
Net Book Value
As at 31 December 2024 303,160 167,643 25,583 496,386
As at 1 January 2024 311,842 106,947 29,395 448,184
5. Investments
Other
£
Cost
As at 1 January 2024 301,500
As at 31 December 2024 301,500
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 301,500
As at 1 January 2024 301,500
Investments in subsidiary undertakings are recognised at cost
6. Stocks
2024 2023
£ £
Stock 54,462 48,320
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 442,032 422,953
Other debtors 46,085 48,028
488,117 470,981
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 31,011 17,591
Trade creditors 120,772 82,816
Other creditors 69,368 1,081,830
Taxation and social security 88,472 98,713
309,623 1,280,950
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 69,818 20,377
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 31,011 17,591
Later than one year and not later than five years 69,818 20,377
100,829 37,968
100,829 37,968
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,050 1,050
Page 5