REGISTERED NUMBER: 04309966 (England and Wales)

S D C ENTERPRISES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

6

FIXED ASSETS

Tangible assets

4

2,570,008

2,130,665

Investments

5

1,702,561

1,702,561

4,272,569

3,833,226

CURRENT ASSETS

Stocks

1,311,601

1,185,951

Debtors

6

956,118

798,189

Cash at bank and in hand

1,908,002

2,333,199

4,175,721

4,317,339

CREDITORS

Amounts falling due within one year

7

480,256

674,952

NET CURRENT ASSETS

3,695,465

3,642,387

TOTAL ASSETS LESS CURRENT LIABILITIES

7,968,034

7,475,613

CREDITORS

Amounts falling due after more than one year

8

(564,683

)

(626,426

)

PROVISIONS FOR LIABILITIES

11

(111,316

)

(75,766

)

NET ASSETS

7,292,035

6,773,421

CAPITAL AND RESERVES

Called up share capital

12

445,600

445,600

Retained earnings

6,846,435

6,327,821

SHAREHOLDERS' FUNDS

7,292,035

6,773,421

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 Board of Directors and authorised for issue on 24th March 2025 and were signed on its behalf by:

M A Yare - Director

1.	STATUTORY INFORMATION

S D C Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04309966

Registered office:

Pickwick Mills Huddersfield Road

Thongsbridge

Holmfirth

HD9 3JL

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.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

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.

Other operating income represents amounts chargeable, net of value added tax, in respect of rental income.

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:

Freehold buildings

1% per annum

Plant and machinery

15% to 33% SL

No depreciation is charged on freehold land or freehold buildings under redevelopment. Depreciation will be resumed on freehold buildings following completion of redevelopment, scheduled to be in 2025.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

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 year 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, and is calculated after deducting gift aid distributions.

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 year 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 year was 14 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2024

1,821,319

672,699

2,494,018

Additions

337,569

134,893

472,462

At 31st December 2024

2,158,888

807,592

2,966,480

DEPRECIATION

At 1st January 2024

-

363,353

363,353

Charge for year

-

33,119

33,119

At 31st December 2024

-

396,472

396,472

NET BOOK VALUE

At 31st December 2024

2,158,888

411,120

2,570,008

At 31st December 2023

1,821,319

309,346

2,130,665

Freehold Land and Buildings includes buildings transferred at deemed cost following reclassification from investment property in 2023. The historic cost of land and buildings is £2,309,433 (2023:£1,971,864) of which £100,000 (2023:£100,000) represents land.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

1,702,561

NET BOOK VALUE

At 31st December 2024

1,702,561

At 31st December 2023

1,702,561

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sam Weller Limited

Registered office: Pickwick Mill, Huddersfield Road, Thongsbridge, Holmfirth, West Yorkshire, HD9 3JL

Nature of business: Manufacture of textiles

%

Class of shares:

holding

Ordinary

100.00

Northern Dyers Limited

Registered office: Pickwick Mill, Huddersfield Road, Thongsbridge, Holmfirth, England, HD9 3JL

Nature of business: Manufacture of textiles

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

552,972

529,422

Amounts owed by group undertakings

48,123

23,918

Other debtors

355,023

244,849

956,118

798,189

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

61,267

60,791

Trade creditors

119,091

290,330

Amounts owed to group undertakings

56,014

12,917

Taxation and social security

2,498

54,908

Other creditors

241,386

256,006

480,256

674,952

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

564,683

626,426

9.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

-

3,616

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

625,950

687,217

Bank borrowings are secured by debenture overall assets of the company, and by a cross guarantee over the assets of its subsidiary Sam Weller Ltd

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

111,316

75,766

Deferred

tax

£

Balance at 1st January 2024

75,766

Provided during year

35,550

Balance at 31st December 2024

111,316

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

445,600

Ordinary

£1

445,600

445,600

13.	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

14.	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.

15.	PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate and ultimate parent is The Society of Dyers and Colourists, a registered charity.

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