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Registered number: 11602362
SFERRA FINE LINENS UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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SFERRA FINE LINENS UK LIMITED
REGISTERED NUMBER: 11602362
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 December 2025.
The notes on pages 2 to 7 form part of these financial statements.
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Sferra Fine Linens UK Limited is a private company, limitedby shares, incorporated in the United Kingdom. The address of its registered office is 1st Floor 8 Bridle Close, Kingston-Upon-Thames, London, KT1 2JW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.
This information is included in the consolidated financial statements of Sferra Holdco LLC as at 31 December 2024 and these financial statements may be obtained from 300 Crescent Court, # 550, Dallas, TX 75201.
The Directors have assessed the appropriateness of the going concern concept in relation to these financial statementsand considers that it is fair to prepare the accounts on a going concern basis. This conclusion is based on the parent company continuing to support the Company for the foreseeable future, being a period of at least 12 months from the signing of the balance sheet date, and the Company having sufficient assets to meet its liabilities as they fall due for the twelve months from the date these financial statements are signed.
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The average monthly number of employees, including the directors, during the year was as follows:
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The Company has unrelieved tax losses carried forward of £1,621,239 (2023 - £1,285,073)
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Charge for the year on owned assets
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Finished goods for resale
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary share of £1.00
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SFERRA FINE LINENS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
This reserve records retained earnings and accumulated losses.
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Related party transactions
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During the year, the Company received £Nil (2023 - £52,522) from its Parent undertaking, Sferra Fine Linens LLC, to settle its expenses. Purchases made from the parent entity amounted to £671,785 (2023 - £1,722,737), and the parent has paid expenses of £322,900 (2023 - £472,145) on behalf of the Company. As at 31 December 2024, the amount outstanding, owed by the Company, totaled £4,256,556 (2023 - £3,261,871). No interest is charged
During the year sales were made to a fellow subsidiary of £264,156 (2023 - £Nil). At the year end, the balance due from this subsidiary was £264,156 (2023 - £Nil).
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In the opinion of the Directors, the ultimate parent undertaking and controlling party is Sferra Holdco LLC, a company incorporated in the USA. Sferra Fine Linens UK Limited is included in the consolidated financial statements of Sferra Holdco LLC. The registered office of Sferra Holdco LLC is 300 Crescent Court, # 550, Dallas, TX 75201.
The auditors' report on the financial statements for the year ended 31 December 2024 was qualified.
The qualification in the audit report was as follows:
We have not been able to obtain sufficient and appropriate evidence with regard to stock quantity held by the Company as it was impractical to observe and count the physical inventories at the end of the year and at the end of the previous year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024 and at 31 December 2023 as this inventory was held on a retail consignment basis at the Company's largest customer. The value of inventory where the quantity could not be verified by us by using other audit procedures at 31 December 2024 was £340,701, included within the total inventory balance of £1,527,750. The value of inventory where the quantity could not be verified by us by using other audit procedures at 31 December 2023 was £340,465, included within the total inventory balance of £1,441,165.
Consequently we were unable to determine whether any adjustment to these amounts, or any other related balances or classes of transactions, such as cost of sales, were necessary.
Arising solely from the limitation on the scope of our work relating to inventory, referred to above:
∙we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
∙we were unable to determine whether adequate accounting records have been kept.
The audit report was signed on 11 December 2025 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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