Strings & Things Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01214443 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

STRINGS & THINGS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

618,488

671,212

Investments

6

1,259,631

1,878,119

1,930,843

CURRENT ASSETS

Stocks

1,563,373

1,458,275

Debtors

7

478,289

482,367

Cash at bank and in hand

3,179,510

3,079,437

5,221,172

5,020,079

CREDITORS

Amounts falling due within one year

8

(712,504

)

(834,681

)

NET CURRENT ASSETS

4,508,668

4,185,398

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,386,787

6,116,241

PROVISIONS FOR LIABILITIES

(305,776

)

(325,708

)

NET ASSETS

6,081,011

5,790,533

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

6,080,911

5,790,433

6,081,011

5,790,533

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2026 and were signed on its behalf by:

R C Bradley - Director

1.	STATUTORY INFORMATION

Strings & Things Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01214443

Registered office:

15 West Street

Brighton

East Sussex

BN1 2RL

The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.

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. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of musical instruments and accessories is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is on delivery of the goods.

Intangible assets

Patents are fully amortised.

Tangible fixed assets

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

Improvement's to short leasehold

-

Over the lease term

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment

Stocks

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the weighted average cost method.

Taxation

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

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.

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 26 (2024 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2024

23,527

Disposals

(23,527

)

At 31 July 2025

-

AMORTISATION

At 1 August 2024

23,527

Eliminated on disposal

(23,527

)

At 31 July 2025

-

NET BOOK VALUE

At 31 July 2025

-

At 31 July 2024

-

5.	TANGIBLE FIXED ASSETS

Improvement's

Fixtures

to short

Plant and

and

leasehold

machinery

fittings

£

COST

At 1 August 2024

406,837

265,098

117,208

Additions

-

934

1,168

Disposals

-

At 31 July 2025

406,837

266,032

118,376

DEPRECIATION

At 1 August 2024

27,123

46,170

62,673

Charge for year

27,122

43,830

8,262

Eliminated on disposal

-

At 31 July 2025

54,245

90,000

70,935

NET BOOK VALUE

At 31 July 2025

352,592

176,032

47,441

At 31 July 2024

379,714

218,928

54,535

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 August 2024

30,196

375,664

1,195,003

Additions

38,065

4,977

45,144

Disposals

(14,411

)

-

(14,411

)

At 31 July 2025

53,850

380,641

1,225,736

DEPRECIATION

At 1 August 2024

22,304

365,521

523,791

Charge for year

13,021

5,633

97,868

Eliminated on disposal

(14,411

)

-

(14,411

)

At 31 July 2025

20,914

371,154

607,248

NET BOOK VALUE

At 31 July 2025

32,936

9,487

618,488

At 31 July 2024

7,892

10,143

671,212

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2024

and 31 July 2025

1,259,631

NET BOOK VALUE

At 31 July 2025

1,259,631

At 31 July 2024

1,259,631

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

346,025

308,868

Amounts owed by group undertakings

-

25,000

Other debtors

132,264

148,499

478,289

482,367

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

174,662

229,698

Amounts owed to group undertakings

-

882

Taxation and social security

381,886

310,383

Other creditors

155,956

293,718

712,504

834,681

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid

Nominal

2025

2024

Number

Class

Value

£

79

Ordinary A

0.50

39.50

59

Ordinary B

0.50

29.50

3

Ordinary C

0.50

1.50

3

Ordinary D

0.50

1.50

3

Ordinary E

0.50

1.50

3

Ordinary F

0.50

1.50

25

Ordinary G

0.50

12.50

25

Ordinary H

0.50

12.50

100

The different classes of shares all have full voting and capital distribution rights. The holders of the different classes of shares are entitled to varying rates of dividend independently of each other as declared by the company.

10.	OFF-BALANCE SHEET ARRANGEMENTS

At the year end, the company had non-cancellable operating lease commitments amounting to £2,067,000 (2024: £2,310,083).

11.	RELATED PARTY DISCLOSURES

During the year, dividends were voted to the directors amounting to £123,425 (2024: £102,765) and to a shareholder with significant influence amounting to £nil (2024: £75,225).