REGISTERED NUMBER: 02405440 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SEQUEL GLITTER FABRICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Hewitt

T W Hewitt

A S Johnson

SECRETARY:

S C Hewitt

REGISTERED OFFICE:

Unit A

Chartwell Buildings

Manor Road, Southbourne

Emsworth

Hampshire

PO10 8NX

REGISTERED NUMBER:

02405440 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

SOLICITORS:

Irwin Mitchell

Thomas Eggar House

Friary Lane

Chichester

West Sussex

PO19 1GE

FIXED ASSETS

Intangible assets

4

322

362

Tangible assets

5

39,308

49,134

39,630

49,496

CURRENT ASSETS

Stocks

332,102

332,572

Debtors

6

110,179

129,697

Prepayments and accrued income

5,503

12,803

Cash at bank and in hand

829,345

907,422

1,277,129

1,382,494

CREDITORS

Amounts falling due within one year

7

33,370

46,690

NET CURRENT ASSETS

1,243,759

1,335,804

TOTAL ASSETS LESS CURRENT LIABILITIES

1,283,389

1,385,300

ACCRUALS AND DEFERRED INCOME

6,822

6,588

NET ASSETS

1,276,567

1,378,712

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,276,467

1,378,612

SHAREHOLDERS' FUNDS

1,276,567

1,378,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 29 September 2025 and were signed on its behalf by:

A S Johnson - Director

1.	STATUTORY INFORMATION

Sequel Glitter Fabrics 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 also the functional currency of the company.

The figures are rounded to the nearest pound.

Revenue

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of twenty five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

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

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing commitments

Rentals paid under operating leases are charged to the profit and 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 10 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

740

AMORTISATION

At 1 January 2024

378

Charge for year

40

At 31 December 2024

418

NET BOOK VALUE

At 31 December 2024

322

At 31 December 2023

362

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

1,758

184,594

9,615

195,967

DEPRECIATION

At 1 January 2024

1,758

137,782

7,293

146,833

Charge for year

-

9,362

464

9,826

At 31 December 2024

1,758

147,144

7,757

156,659

NET BOOK VALUE

At 31 December 2024

-

37,450

1,858

39,308

At 31 December 2023

-

46,812

2,322

49,134

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

85,165

100,622

Other debtors

25,014

22,477

110,179

123,099

Amounts falling due after more than one year:

Other debtors

-

6,598

Aggregate amounts

110,179

129,697

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

23,257

39,359

Taxation and social security

10,113

836

Other creditors

-

6,495

33,370

46,690

8.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

45,000

10,250

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

A S Johnson

Balance outstanding at start of year

10,000

2,083

Amounts advanced

-

10,000

Amounts repaid

(1,500

)

(2,083

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,500

10,000

The above loan was repaid after the year end, no interest has been charged on the loan.