Lewis & Co. (Fabrics) Limited Company accounts

COMPANY REGISTRATION NUMBER: 1310950

Lewis & Co. (Fabrics) Limited

Unaudited Financial Statements

30 April 2025

Lewis & Co. (Fabrics) Limited

Financial Statements

Year ended 30th April 2025

Contents	Page

Directors' report	1

Statement of comprehensive income	2

Statement of financial position	3

Statement of changes in equity	5

Notes to the financial statements	6

Lewis & Co. (Fabrics) Limited

Directors' Report

Year ended 30th April 2025

The directors present their report and the unaudited financial statements of the company for the year ended 30 April 2025 .

Directors

The directors who served the company during the year were as follows:

B Earing
V I Lewis
J M Lewis

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 8 September 2025 and signed on behalf of the board by:

V I Lewis	J M Lewis
Director	Director

Registered office:

Suite 1, First Floor

1 Duchess Street

London

England

W1W 6AN

Lewis & Co. (Fabrics) Limited

Statement of Comprehensive Income

Year ended 30th April 2025

	2025	2024
Note	£	£
Turnover	4,582,686	4,859,518

Cost of sales	2,565,671	2,625,196
	------------	------------
Gross profit	2,017,015	2,234,322

Distribution costs	104,357	129,137
Administrative expenses	1,836,425	1,844,431
	------------	------------
Operating profit	76,233	260,754

Other interest receivable and similar income		100,221	96,273
Interest payable and similar expenses		163,184	156,384
		------------	------------
Profit before taxation	5	13,270	200,643

Tax on profit	9,302	67,823
	--------	---------
Profit for the financial year and total comprehensive income	3,968	132,820
	--------	---------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

Lewis & Co. (Fabrics) Limited

Statement of Financial Position

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	831,377	879,835
Investments	7	1,000	1,000
		---------	---------
		832,377	880,835

Current assets

Stocks		1,005,434	967,632
Debtors	8	577,814	641,509
Cash at bank and in hand		4,249,218	4,343,440
		------------	------------
		5,832,466	5,952,581

Creditors: amounts falling due within one year	9	2,821,468		2,691,556
		------------		------------
Net current assets			3,010,998	3,261,025
			------------	------------
Total assets less current liabilities			3,843,375	4,141,860

Creditors: amounts falling due after more than one year	10		34,209	86,662

Provisions

Other provisions	9,000	9,000
	------------	------------
Net assets	3,800,166	4,046,198
	------------	------------

Capital and reserves

Called up share capital	617,021	617,021
Share premium account	35,541	35,541
Profit and loss account	3,147,604	3,393,636
	------------	------------
Shareholders funds	3,800,166	4,046,198
	------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30th April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lewis & Co. (Fabrics) Limited

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 8 September 2025 , and are signed on behalf of the board by:

V I Lewis	J M Lewis
Director	Director

Company registration number: 1310950

Lewis & Co. (Fabrics) Limited

Statement of Changes in Equity

Year ended 30th April 2025

	Called up share capital	Share premium account	Profit and loss account	Total
	£	£	£	£
At 1st May 2023	580,000	–	3,460,816	4,040,816

Profit for the year			132,820	132,820
	---------	----	------------	------------
Total comprehensive income for the year	–	–	132,820	132,820

Issue of shares	37,021	35,541	–	72,562
Dividends paid and payable	–	–	( 200,000)	( 200,000)
	---------	--------	------------	------------
Total investments by and distributions to owners	37,021	35,541	( 200,000)	( 127,438)

At 30th April 2024	617,021	35,541	3,393,636	4,046,198

Profit for the year			3,968	3,968
	---------	--------	------------	------------
Total comprehensive income for the year	–	–	3,968	3,968

Dividends paid and payable	–	–	( 250,000)	( 250,000)
	----	----	---------	---------
Total investments by and distributions to owners	–	–	( 250,000)	( 250,000)

	---------	--------	------------	------------
At 30th April 2025	617,021	35,541	3,147,604	3,800,166
	---------	--------	------------	------------

Lewis & Co. (Fabrics) Limited

Notes to the Financial Statements

Year ended 30th April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant, fixtures and fittings	-	20% & 33.3% per annum
Motor vehicles	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 32 (2024: 33 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	81,411	79,581
	--------	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1st May 2024	845,784	91,867	394,522	1,332,173
Additions	–	1,866	64,282	66,148
Disposals	–	–	( 60,165)	( 60,165)
	---------	--------	---------	------------
At 30th April 2025	845,784	93,733	398,639	1,338,156
	---------	--------	---------	------------
Depreciation
At 1st May 2024	270,625	62,662	119,051	452,338
Charge for the year	16,920	5,966	58,525	81,411
Disposals	–	–	( 26,970)	( 26,970)
	---------	--------	---------	------------
At 30th April 2025	287,545	68,628	150,606	506,779
	---------	--------	---------	------------
Carrying amount
At 30th April 2025	558,239	25,105	248,033	831,377
	---------	--------	---------	------------
At 30th April 2024	575,159	29,205	275,471	879,835
	---------	--------	---------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 30th April 2025	248,031
	---------
At 30th April 2024	275,469
	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1st May 2024 and 30th April 2025	1,000
	-------
Impairment
At 1st May 2024 and 30th April 2025	–
	-------

Carrying amount
At 30th April 2025	1,000
	-------
At 30th April 2024	1,000
	-------

8. Debtors

	2025	2024
	£	£
Trade debtors	376,900	443,771
Other debtors	200,914	197,738
	---------	---------
	577,814	641,509
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	530,119	460,810
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,000	1,000
Corporation tax	9,302	67,823
Social security and other taxes	138,928	148,031
Other creditors	2,142,119	2,013,892
	------------	------------
	2,821,468	2,691,556
	------------	------------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	34,209	86,662
	--------	--------

11. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	32,220	32,220
Later than 1 year and not later than 5 years	86,940	119,160
	---------	---------
	119,160	151,380
	---------	---------

12. Related party transactions

There is no controlling party of the company. Sunbury Investments is a partnership of which the directors V I Lewis and J M Lewis are partners. During the year the company had the following transactions with related parties:

	2025	2024
	£	£
Rent Payable:
Sunbury Investments	33,000	33,000

Interest Payable:
Directors Loan Accounts	149,424	147,446

Interest is payable on these loans at 3.5% above bank base rates and is accrued but not paid at the year end. At the year end there were the following balances with related parties: Included within other creditors:

	2025	2024
Loan accounts
Mr V I Lewis	1,457,999	1,367,929
Mr J M Lewis	329,420	362,921
Mr B Lewis	94,371	56,869
Mr J Lewis	25,768	10,000