REGISTERED NUMBER: 02024052 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Darn It Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr F Darabi

SECRETARY:

Mr F Darabi

REGISTERED OFFICE:

15 Carlisle Road

Hunslet

Leeds

LS10 1LB

REGISTERED NUMBER:

02024052 (England and Wales)

ACCOUNTANTS:

Aysgarth Chartered Accountants

Suite 3b

Kings House

1 King Street

Leeds

LS1 2HH

FIXED ASSETS

Tangible assets

4

501,734

515,470

CURRENT ASSETS

Stocks

279,209

154,489

Debtors

5

1,834,480

1,782,654

Cash at bank and in hand

2,967,041

2,812,849

5,080,730

4,749,992

CREDITORS

Amounts falling due within one year

6

227,665

317,910

NET CURRENT ASSETS

4,853,065

4,432,082

TOTAL ASSETS LESS CURRENT LIABILITIES

5,354,799

4,947,552

CREDITORS

Amounts falling due after more than one year

7

5,100

11,900

NET ASSETS

5,349,699

4,935,652

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,349,599

4,935,552

SHAREHOLDERS' FUNDS

5,349,699

4,935,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

Mr F Darabi - Director

1.	STATUTORY INFORMATION

Darn It 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

No amortisation is provided in respect of the freehold property as, in the opinion of the director, its net book value is not materially different to its net realisable value.

All tangible fixed assets are recorded at cost, being purchase price less accumulated depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

478,987

30,442

17,884

53,897

581,210

Additions

-

-

730

-

730

Disposals

-

(1,992

)

(1,126

)

-

(3,118

)

At 31 March 2025

478,987

28,450

17,488

53,897

578,822

DEPRECIATION

At 1 April 2024

-

17,981

13,260

34,499

65,740

Charge for year

-

2,456

2,311

9,699

14,466

Eliminated on disposal

-

(1,992

)

(1,126

)

-

(3,118

)

At 31 March 2025

-

18,445

14,445

44,198

77,088

NET BOOK VALUE

At 31 March 2025

478,987

10,005

3,043

9,699

501,734

At 31 March 2024

478,987

12,461

4,624

19,398

515,470

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

38,796

DEPRECIATION

At 1 April 2024

19,398

Charge for year

9,699

At 31 March 2025

29,097

NET BOOK VALUE

At 31 March 2025

9,699

At 31 March 2024

19,398

5.

DEBTORS

31/3/25

31/3/24

£

£

Amounts falling due within one year:

Trade debtors

25,209

1,264

Other debtors

65,727

37,846

90,936

39,110

31/3/25

31/3/24

£

£

Amounts falling due after more than one year:

Other debtors

1,743,544

1,743,544

Aggregate amounts

1,834,480

1,782,654

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

6,800

6,800

Trade creditors

6,992

18,313

Taxation and social security

188,036

267,226

Other creditors

25,837

25,571

227,665

317,910

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

5,100

11,900

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

£

Hire purchase contracts

11,900

18,700

9.	RELATED PARTY DISCLOSURES

Included in other debtors due after more than one year is a loan to Pardis Investments Limited, a company 100% owned by the director Mr F Darabi. No interest is charged on the loan and there is no repayment term. At the balance sheet date the loan was £1,743,544 (2024: £1,743,544).

During the year the company rented a commercial unit from Pardis Investments Limited and paid rent of £nil (2024: £21,000).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr F Darabi.