Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr J Morton 02/10/2001 29 September 2025 The principal activity of the Company during the financial year was the retail of highland wear. SC223853 2024-10-31 SC223853 bus:Director1 2024-10-31 SC223853 2023-10-31 SC223853 core:CurrentFinancialInstruments 2024-10-31 SC223853 core:CurrentFinancialInstruments 2023-10-31 SC223853 core:Non-currentFinancialInstruments 2024-10-31 SC223853 core:Non-currentFinancialInstruments 2023-10-31 SC223853 core:ShareCapital 2024-10-31 SC223853 core:ShareCapital 2023-10-31 SC223853 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC223853 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC223853 core:PlantMachinery 2023-10-31 SC223853 core:FurnitureFittings 2023-10-31 SC223853 core:OfficeEquipment 2023-10-31 SC223853 core:PlantMachinery 2024-10-31 SC223853 core:FurnitureFittings 2024-10-31 SC223853 core:OfficeEquipment 2024-10-31 SC223853 bus:OrdinaryShareClass1 2024-10-31 SC223853 2023-11-01 2024-10-31 SC223853 bus:FilletedAccounts 2023-11-01 2024-10-31 SC223853 bus:SmallEntities 2023-11-01 2024-10-31 SC223853 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC223853 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC223853 bus:Director1 2023-11-01 2024-10-31 SC223853 core:PlantMachinery 2023-11-01 2024-10-31 SC223853 core:FurnitureFittings 2023-11-01 2024-10-31 SC223853 core:OfficeEquipment 2023-11-01 2024-10-31 SC223853 2022-11-01 2023-10-31 SC223853 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 SC223853 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC223853 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC223853 (Scotland)

# SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

## BALANCE SHEET

AS AT 31 OCTOBER 2024
SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

## BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 384 |  | 489
|  | 384 |  | 489
Current assets |  |  |  |
Stocks |  | 7,000 |  | 7,000
Debtors | 4 | 606 |  | 901
Cash at bank and in hand |  | 1,315 |  | 3,984
|  | 8,921 |  | 11,885
Creditors: amounts falling due within one year | 5 | ( 51,991) |  | ( 45,733)
Net current liabilities |  | (43,070) |  | (33,848)
Total assets less current liabilities |  | (42,686) |  | (33,359)
Creditors: amounts falling due after more than one year | 6 | ( 5,516) |  | ( 4,820)
Net liabilities |  | ( 48,202) |  | ( 38,179)
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | ( 48,302 ) |  | ( 38,279 )
Total shareholder's deficit |  | ( 48,202) |  | ( 38,179)

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Source & Design International (uk) Limited (registered number: SC223853) were approved and authorised for issue by the Director on 29 September 2025. They were signed on its behalf by:

Mr J Morton Director |

SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
SOURCE & DESIGN INTERNATIONAL (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Source & Design International (uk) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 18 Dunvegan Avenue, Elderslie, Johnstone, PA5 9NT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £48,202. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 25 % reducing balance
Fixtures and fittings | 20 % reducing balance
Office equipment | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Plant and machinery |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 November 2023 | 5,604 |  | 428 |  | 3,129 |  | 9,161
At 31 October 2024 | 5,604 |  | 428 |  | 3,129 |  | 9,161
Accumulated depreciation |  |  |  |  |  |  |
At 01 November 2023 | 5,565 |  | 64 |  | 3,043 |  | 8,672
Charge for the financial year | 10 |  | 73 |  | 22 |  | 105
At 31 October 2024 | 5,575 |  | 137 |  | 3,065 |  | 8,777
Net book value |  |  |  |  |  |  |
At 31 October 2024 | 29 |  | 291 |  | 64 |  | 384
At 31 October 2023 | 39 |  | 364 |  | 86 |  | 489

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Other debtors | 606 |  | 901

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 1,217 |  | 2,662
Trade creditors | 0 |  | 1,375
Other creditors | 50,774 |  | 41,696
| 51,991 |  | 45,733

#### 6. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 5,516 |  | 4,820

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 8. Financial commitments

Commitments

Capital commitments are as follows:

| 2024 |  | 2023
| £ |  | £
Contracted for but not provided for: |  |  |
Finance leases entered into | 0 |  | 1,330

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

| 2024 |  | 2023
| £ |  | £
within one year | 0 |  | 1,330

#### 9. Related party transactions

Transactions with the entity's director

| 2024 |  | 2023
| £ |  | £
Amounts owed to key management personnel | 50,775 |  | 41,696