Registration number: 02046222

S.D.S. (London) Limited

Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	52,965	105,931
Tangible assets	5	172,660	205,147
Investments	6	1	1
Other financial assets		-	5,000
		225,626	316,079
Current assets
Stocks	7	767,549	843,711
Debtors	8	346,209	268,022
Cash at bank and in hand		354,022	478,424
		1,467,780	1,590,157
Creditors: Amounts falling due within one year	9	(1,051,898)	(1,090,328)
Net current assets		415,882	499,829
Total assets less current liabilities		641,508	815,908
Provisions for liabilities		(21,209)	(38,500)
Net assets		620,299	777,408
Capital and reserves
Called up share capital		3,033	3,033
Share premium reserve		74,788	74,788
Retained earnings		542,478	699,587
Shareholders' funds		620,299	777,408

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of S.D.S. (London) Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

S.D.S. (London) Limited

Statement of Financial Position as at 31 January 2026

Approved and authorised by the Board on 6 July 2026 and signed on its behalf by:
 

.........................................

S M Ayers

Director

Company registration number: 02046222

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2
20 Weir Road
London
SW19 8UG

The principal activity of the company is that of retailing decorating materials, ironmongery and ancillary products.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.

Going concern

The company had net assets at 31 January 2026 amounting to £620,299 including cash at bank of £354,022.

The company continues to trade profitably and having made enquiries the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from retail sales at the point of sale. E-Commerce and wholesale revenue is recognised at the point of despatch.

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are carried at cost less accumulated amortisation and any accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website development	20-25% straight line

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold property	Over the term of the lease
Plant and equipment	Between 3 and 10 years straight line
Motor vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost price (AVCO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee owned trust

The company will make repayments in accordance with the trust agreement until such time as the obligation is fulfilled. The repayments are recorded on a cash paid basis depending on the levels of profitability each year. Payments made late or not made in full will result in an interest charge in accordance with the EOT agreement.

3	Staff numbers

The average number of persons employed by the company during the year, was 32 (2025 - 33).

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Intangible assets

	Software  £	Website Development  £	Total £
Cost
At 1 February 2025	-	253,557	253,557
Additions acquired separately	94,500	(94,500)	-
At 31 January 2026	94,500	159,057	253,557
Amortisation
At 1 February 2025	-	147,626	147,626
Amortisation charge	-	52,966	52,966
At 31 January 2026	-	200,592	200,592
Carrying amount
At 31 January 2026	94,500	(41,535)	52,965
At 31 January 2025	-	105,931	105,931

5	Tangible assets

	Leasehold property £	Motor vehicles  £	Plant and equipment £	Total £
Cost or valuation
At 1 February 2025	413,199	14,351	303,025	730,575
Additions	-	-	18,935	18,935
Disposals	-	-	(72,890)	(72,890)
At 31 January 2026	413,199	14,351	249,070	676,620
Depreciation
At 1 February 2025	267,721	12,914	244,793	525,428
Charge for the year	26,842	359	18,374	45,575
Eliminated on disposal	-	-	(67,043)	(67,043)
At 31 January 2026	294,563	13,273	196,124	503,960
Carrying amount
At 31 January 2026	118,636	1,078	52,946	172,660
At 31 January 2025	145,478	1,437	58,232	205,147

S.D.S. (London) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

6	Investments

	2026 £	2025 £
Investments in subsidiaries	1	1