REGISTERED NUMBER: 11283224 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

SRS UK Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R C Stanton

Mrs S Stanton

REGISTERED OFFICE:

Suite 4

10/12 The Grove

Ilkley

West Yorkshire

LS29 9EG

REGISTERED NUMBER:

11283224 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Suite 4, 10/12 The Grove,

Ilkley

West Yorkshire

LS29 9EG

Fixed assets

Intangible assets

3

381,348

381,348

Tangible assets

4

27,478

40,678

408,826

422,026

Current assets

Stocks

5

33,770

43,188

Debtors

6

69,971

60,162

Cash at bank and in hand

34,017

27,908

137,758

131,258

Creditors

Amounts falling due within one year

7

(221,273

)

(227,395

)

Net current liabilities

(83,515

)

(96,137

)

Total assets less current liabilities

325,311

325,889

Creditors

Amounts falling due after more than one year

8

(167,318

)

(205,739

)

Provisions for liabilities

10

(5,221

)

(7,729

)

Net assets

152,772

112,421

Capital and reserves

Called up share capital

11

100

100

Retained earnings

12

152,672

112,321

Shareholders' funds

152,772

112,421

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

R C Stanton - Director

Mrs S Stanton - Director

1.	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.

GOODWILL

Goodwill was acquired in connection with the acquisition of the business in 2018 in the sum of £381,348. At the time of acquisition, it was estimated that the useful life of the goodwill was seven years and consequently amortisation was charged evenly over this period. It has now been agreed with the franchiser that the goodwill will be re-purchased at a figure in excess of the original cost no later than 12th November 2025. The original policy no longer fairly reflects the value of the goodwill and consequently the amortisation charged previously to the Profit and Loss account has been fully reinstated.

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.

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

-

25% on cost and 15% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

33.33% on cost

Computer equipment

-

33.33% on cost

STOCKS

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

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

HIRE PURCHASE AND LEASING COMMITMENTS

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 25 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

381,348

NET BOOK VALUE

At 31 March 2025

381,348

At 31 March 2024

381,348

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

70,596

2,736

88,522

5,573

167,427

DEPRECIATION

At 1 April 2024

44,578

2,200

74,399

5,572

126,749

Charge for year

3,582

219

9,399

-

13,200

At 31 March 2025

48,160

2,419

83,798

5,572

139,949

NET BOOK VALUE

At 31 March 2025

22,436

317

4,724

1

27,478

At 31 March 2024

26,018

536

14,123

1

40,678

5.

STOCKS

2025

2024

£

£

Stocks

33,770

43,188

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

4,539

4,159

Other debtors

4,966

4,237

Prepayments

48

33

9,553

8,429

Amounts falling due after more than one year:

Other debtors

60,418

51,733

Aggregate amounts

69,971

60,162

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans (see note 9)

39,678

57,652

Trade creditors

63,174

68,517

Corporation tax

113,558

95,080

Pensions control account

61

5

Directors' current accounts

3,725

4,082

Accrued expenses

1,077

2,059

221,273

227,395

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans (see note 9)

165,000

165,000

Other loans

2,318

40,739

167,318

205,739

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

165,000

165,000

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bounce Back Loan

3,933

3,628

HSBC Loan 1

10,024

15,441

HSBC Loan 2

25,721

38,583

39,678

57,652

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

165,000

165,000

The HSBC UK Bank PLC Loans have a fixed and floating charge over all assets of the Company.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

5,221

7,729

Deferred

tax

£

Balance at 1 April 2024

7,729

Credit to Income Statement during year

(2,508

)

Balance at 31 March 2025

5,221

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 April 2024

112,321

Profit for the year

95,351

Dividends

(55,000

)

At 31 March 2025

152,672

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £55,000 (2024 £75,000) were paid to the directors during the year. The Company owed the directors' £3,725 at 31st March 2025 (2024 £4082).

14.	RELATED PARTY DISCLOSURES

The Company has loaned £60,418 to a related party. The directors' Mr R C Stanton and Mrs S Stanton each own 50% of the issued share capital of the borrowing Company.