Company registration number 04383014 (England and Wales)
STEERFORTH SALES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
STEERFORTH SALES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
STEERFORTH SALES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs L. Lawrence
Mr R. Burn
Mrs P. Burn
Mr G. Manuel
Mr J. Banks
Ms A. Fox
Company number
04383014
Registered office
Unit 7
Holder Road
Aldershot
Hampshire
GU12 4RH
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
STEERFORTH SALES LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
275,421
289,866
Current assets
Stocks
396,765
411,281
Debtors
5
1,485,746
1,598,170
Cash at bank and in hand
907,108
961,021
2,789,619
2,970,472
Creditors: amounts falling due within one year
6
(630,947)
(824,657)
Net current assets
2,158,672
2,145,815
Total assets less current liabilities
2,434,093
2,435,681
Provisions for liabilities
(2,576)
(3,937)
Net assets
2,431,517
2,431,744
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
2,431,417
2,431,644
Total equity
2,431,517
2,431,744

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

STEERFORTH SALES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 3 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 4 June 2025 and are signed on its behalf by:
Mrs L. Lawrence
Director
Company Registration No. 04383014
The notes on pages 4 to 10 form part of these financial statements
STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information

Steerforth Sales Limited (04383014) is a private company limited by shares incorporated in England and Wales. The registered office and business address is Unit 7, Holder Road, Aldershot, Hampshire, United Kingdom, GU12 4RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long leasehold property
2% on cost
Plant and machinery
20% on cost
Fixtures, fittings and equipment
20% on cost
Motor vehicles
20% on reducing balance

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.

STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). 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.

1.6
Stocks

Stock is valued at the lower of cost and net realisable value.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, 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 receipts 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. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
16
18
STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
146,537
172,657
Adjustments in respect of prior periods
-
0
(57)
Total current tax
146,537
172,600
Deferred tax
Origination and reversal of timing differences
(1,361)
(1,909)
Total tax charge
145,176
170,691
4
Tangible fixed assets
Long leasehold property
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2024
450,000
48,988
85,863
14,917
599,768
Disposals
-
0
(110)
(11,394)
-
0
(11,504)
At 28 February 2025
450,000
48,878
74,469
14,917
588,264
Depreciation and impairment
At 1 March 2024
177,243
46,172
81,904
4,583
309,902
Depreciation charged in the year
9,000
1,058
2,320
2,067
14,445
Eliminated in respect of disposals
-
0
(110)
(11,394)
-
0
(11,504)
At 28 February 2025
186,243
47,120
72,830
6,650
312,843
Carrying amount
At 28 February 2025
263,757
1,758
1,639
8,267
275,421
At 28 February 2024
272,757
2,816
3,959
10,334
289,866
STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 9 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
606,412
709,326
Amounts due from group undertakings
805,272
805,272
Other debtors
49,928
60,170
Prepayments and accrued income
24,134
23,402
1,485,746
1,598,170
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
329,140
449,456
Corporation tax
146,452
172,657
Other taxation and social security
150,825
188,515
Other creditors
260
10,039
Accruals and deferred income
4,270
3,990
630,947
824,657
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
65
65
65
65
Ordinary A shares of £1 each
35
35
35
35
100
100
100
100
STEERFORTH SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 10 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
415,800
424,200
The above commitments relate to the yearly rent payable by the company. This amounts to £8,400 per year and the lease runs to September 2074.
9
Related party transactions

During the year, the company paid dividends to its parent company amounting to £427,000 (202 4 - £465,605). At the year end, the company was owed £805,272 (202 4 - £805,272) by the parent company.

10
Parent company

The parent company is Ramparts Limited, a company which is incorporated and registered in England. The registered office of Ramparts Limited is Unit 7, Holder Road, Aldershot, Hampshire, GU12 4RH.

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