REGISTERED NUMBER: 02256990 (England and Wales)

NORTHERN DYERS LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JULY 2023 TO 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTOR:

M A Yare

SECRETARY:

K Hampshire

REGISTERED OFFICE:

Pickwick Mills Huddersfield Road

Thongsbridge

Holmfirth

HD9 3JL

REGISTERED NUMBER:

02256990 (England and Wales)

AUDITORS:

Thomas Coombs Limited

Statutory Auditor

Chartered Accountants

3365 The Pentagon

Century Way

Thorpe Park

Leeds

West Yorkshire

LS15 8ZB

FIXED ASSETS

Tangible assets

4

15,878

3,006

CURRENT ASSETS

Stocks

53,907

42,632

Debtors

5

179,553

202,521

Cash at bank

254,058

343,101

487,518

588,254

CREDITORS

Amounts falling due within one year

6

202,527

99,651

NET CURRENT ASSETS

284,991

488,603

TOTAL ASSETS LESS CURRENT LIABILITIES

300,869

491,609

CAPITAL AND RESERVES

Called up share capital

8

33,000

33,000

Capital redemption reserve

92,000

92,000

Retained earnings

175,869

366,609

SHAREHOLDERS' FUNDS

300,869

491,609

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 director and authorised for issue on 24th March 2025 and were signed by:

M A Yare - Director

1.	STATUTORY INFORMATION

Northern Dyers 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

These financial statements have been prepared on a going concern basis.

In the period the company was affected by a downturn in trade in Q4 2024 and additional repair and staff training costs incurred following a health and safety review undertaken by the new parent company, SDCE Enterprises Ltd. The downturn in trade was experienced by other companies in the same industry too, but trade is expected to recover in 2025. The health and safety review was completed in 2024.

As part of the going concern assessment the director prepared cashflow forecasts for the period 1 January 2025 to 30 April 2026 based on orders received and sales targets. No loss of regular customers is anticipated in that period. The forecasts show the company can continue to trade for that period using its current cash reserves.

The company's parent, SDCE Enterprises Ltd, has confirmed its willingness to support the company by not calling in payments for rent, insurance and management charges when due in accordance with terms if this would cause cash flow difficulties for the company.

Accordingly, at the time of signing these accounts, having considered the above, the director considers that the company will remain a going concern.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and Machinery

- 10% and 20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Work in progress and finished goods include labour and attributable overheads.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st July 2023

1,302,274

Additions

15,982

Disposals

(9,230

)

At 31st December 2024

1,309,026

DEPRECIATION

At 1st July 2023

1,299,268

Charge for period

3,110

Eliminated on disposal

(9,230

)

At 31st December 2024

1,293,148

NET BOOK VALUE

At 31st December 2024

15,878

At 30th June 2023

3,006

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

142,734

154,435

Other debtors

36,819

48,086

179,553

202,521

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

60,069

47,837

Amounts owed to group undertakings

47,837

-

Taxation and social security

10,946

26,027

Other creditors

83,675

25,787

202,527

99,651

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

58,275

58,275

Between one and five years

233,100

233,100

In more than five years

262,238

320,513

553,613

611,888

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

33,000

Ordinary

1

33,000

33,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Darwin FCA (Senior Statutory Auditor)

for and on behalf of Thomas Coombs Limited

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	PARENT AND ULTIMATE CONTROLLING PARTY

The company's immediate parent is S D C Enterprises Limited, incorporated in England & Wales.

The ultimate parent is The Society of Dyers and Colourists which has no controlling party, a registered charity in England & Wales.

The smallest and largest group in which the results of the company are consolidated, is that of The Society of Dyers and Colourists. These financial statements are available upon request from Perkin House, Langlands Street, BD1 2LU.