REGISTERED NUMBER: 11706027 (England and Wales)

THE HASTINGS SOFA COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

D G Cleaver

M A Gall

M Hillyard

REGISTERED OFFICE:

The Hastings Sofa Company Limited

Menzies Road

Ponswood

St Leonards-On-Sea

East Sussex

TN38 9XF

REGISTERED NUMBER:

11706027 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Tangible assets

4

30,704

35,804

CURRENT ASSETS

Stocks

281,043

366,930

Debtors

5

562,867

549,823

Cash at bank and in hand

63,081

64,799

906,991

981,552

CREDITORS

Amounts falling due within one year

6

932,494

1,081,422

NET CURRENT LIABILITIES

(25,503

)

(99,870

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,201

(64,066

)

CREDITORS

Amounts falling due after more than one year

7

1,667

11,667

NET ASSETS/(LIABILITIES)

3,534

(75,733

)

CAPITAL AND RESERVES

Called up share capital

9

3

3

Retained earnings

3,531

(75,736

)

SHAREHOLDERS' FUNDS

3,534

(75,733

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 15th December 2025 and were signed on its behalf by:

M Hillyard - Director

1.	STATUTORY INFORMATION

The Hastings Sofa Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles - 12.5%

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st April 2024

and 31st March 2025

40,905

DEPRECIATION

At 1st April 2024

5,101

Charge for year

5,100

At 31st March 2025

10,201

NET BOOK VALUE

At 31st March 2025

30,704

At 31st March 2024

35,804

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

385,271

456,023

Other debtors

177,596

93,800

562,867

549,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

311,829

270,643

Amounts owed to group undertakings

74,797

115,003

Taxation and social security

137,865

133,921

Other creditors

398,003

551,855

932,494

1,081,422

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,667

11,667

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Pulse Cashflow Finance Limited

189,836

208,718

Included within other creditors is a balance of £189,836 (2024 £208,718) which relates to a fixed and floating charge held by Pulse Cashflow Finance Limited over the reporting company's assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

3

ordinary

£1

3

3

10.	RELATED PARTY DISCLOSURES

At the year end the company owed £76,797 (2024: £115,003) to 1066 Asset Holdings Limited, its parent company.