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Company No: 11757127 (England and Wales)

# MUMFORDS SOUTHWOLD LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

MUMFORDS SOUTHWOLD LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

MUMFORDS SOUTHWOLD LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
MUMFORDS SOUTHWOLD LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets |  | 1 |  | 1
Tangible assets | 3 | 3,028 |  | 638
|  | 3,029 |  | 639
Current assets |  |  |  |
Stocks |  | 68,203 |  | 58,074
Debtors | 4 | 153,511 |  | 284,269
Cash at bank and in hand | 5 | 72,582 |  | 88,601
|  | 294,296 |  | 430,944
Creditors: amounts falling due within one year | 6 | ( 36,970) |  | ( 76,488)
Net current assets |  | 257,326 |  | 354,456
Total assets less current liabilities |  | 260,355 |  | 355,095
Provision for liabilities | 7 | ( 757) |  | ( 160)
Net assets |  | 259,598 |  | 354,935
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 259,498 |  | 354,835
Total shareholder's funds |  | 259,598 |  | 354,935

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 Income Statement has not been delivered.

The financial statements of Mumfords Southwold Limited (registered number: 11757127) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R J Chadd Director |

10 October 2025

MUMFORDS SOUTHWOLD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
MUMFORDS SOUTHWOLD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 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

Mumfords Southwold Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 66 High Street, Southwold, IP18 6DN, 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 £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### 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 Statement of Financial Position 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### 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:

Fixtures and fittings | 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.

##### 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. Cost is calculated using the FIFO (first-in, first-out) method. 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.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders .

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 8 |  | 6

#### 3. Tangible assets

| Fixtures and fittings |  | Total
| £ |  | £
Cost |  |  |
At 01 February 2024 | 3,168 |  | 3,168
Additions | 3,236 |  | 3,236
At 31 January 2025 | 6,404 |  | 6,404
Accumulated depreciation |  |  |
At 01 February 2024 | 2,530 |  | 2,530
Charge for the financial year | 846 |  | 846
At 31 January 2025 | 3,376 |  | 3,376
Net book value |  |  |
At 31 January 2025 | 3,028 |  | 3,028
At 31 January 2024 | 638 |  | 638

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 931 |  | 1,262
Amounts owed by Parent undertakings | 151,128 |  | 281,778
Prepayments | 1,452 |  | 1,229
| 153,511 |  | 284,269

#### 5. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 72,582 |  | 88,601

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 3,937 |  | 6,715
Amounts owed to fellow subsidiaries | ( 280) |  | 40,000
Accruals | 5,718 |  | 4,887
Corporation tax | 17,569 |  | 16,445
Other taxation and social security | 9,995 |  | 8,441
Other creditors | 31 |  | 0
| 36,970 |  | 76,488

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 160) |  | ( 112)
Charged to the Income Statement | ( 597) |  | ( 48)
At the end of financial year | ( 757) |  | ( 160)

#### 8. Related party transactions

The total amount owed to group undertakings included within the Statement of Financial Position at the year ended amounted to £151,128 (2024: £281,778).