REGISTERED NUMBER: 02335963 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

SECOND CHANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C Daniels

Mr P K Daniels

Mr T B Daniels

REGISTERED OFFICE:

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

REGISTERED NUMBER:

02335963 (England and Wales)

ACCOUNTANTS:

Xeinadin

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Tangible assets

4

420,709

428,495

CURRENT ASSETS

Stocks

2,731,707

2,337,879

Debtors

5

3,054,488

3,105,913

Cash at bank

909,247

256,765

6,695,442

5,700,557

CREDITORS

Amounts falling due within one year

6

(1,434,907

)

(622,995

)

NET CURRENT ASSETS

5,260,535

5,077,562

TOTAL ASSETS LESS CURRENT LIABILITIES

5,681,244

5,506,057

CREDITORS

Amounts falling due after more than one year

7

(59,399

)

-

PROVISIONS FOR LIABILITIES

(83,662

)

(84,978

)

NET ASSETS

5,538,183

5,421,079

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

5,538,093

5,420,989

SHAREHOLDERS' FUNDS

5,538,183

5,421,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 30 June 2026 and were signed on its behalf by:

Mr P K Daniels - Director

1.	STATUTORY INFORMATION

Second Chance 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold property

-

2% on cost

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Such cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on tangible assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its useful expected life. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recovered.

Depreciation is not charged on leasehold buildings contrary to the provisions of FRS102 (effective January 2016). In the opinion of the directors the residual value of the properties is so high and the useful economic life so long that any depreciation is wholly immaterial.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern

The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2025 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2025

109,096

492,691

210,236

32,164

844,187

Additions

-

21,139

-

40,006

61,145

Disposals

-

-

-

(26,982

)

(26,982

)

At 31 January 2026

109,096

513,830

210,236

45,188

878,350

DEPRECIATION

At 1 February 2025

26,191

255,795

103,304

30,402

415,692

Charge for year

2,182

25,802

26,733

14,214

68,931

Eliminated on disposal

-

-

-

(26,982

)

(26,982

)

At 31 January 2026

28,373

281,597

130,037

17,634

457,641

NET BOOK VALUE

At 31 January 2026

80,723

232,233

80,199

27,554

420,709

At 31 January 2025

82,905

236,896

106,932

1,762

428,495

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST

At 1 February 2025

123,750

Additions

13,505

At 31 January 2026

137,255

DEPRECIATION

Charge for year

13,726

At 31 January 2026

13,726

NET BOOK VALUE

At 31 January 2026

123,529

At 31 January 2025

123,750

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,666,038

1,312,554

Amounts owed by group undertakings

1,305,520

1,656,584

Other debtors

14,062

26,530

Tax

-

25,928

Prepayments

68,868

84,317

3,054,488

3,105,913

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

36,611

-

Trade creditors

174,617

373,145

Tax

174,641

-

Social security and other taxes

52,528

45,886

VAT

246,865

142,598

Other creditors

78,884

3,962

Accrued expenses

670,761

57,404

1,434,907

622,995

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

59,399

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

96,010

-

The hire purchase creditor is secured upon the asset to which it relates.

9.	ULTIMATE CONTROLLING PARTY

Second Chance Group Limited is regarded by the directors as being the company's ultimate parent company.