1.
General Information
Darlings of Chelsea Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
05267072
. The registered office is Parsons Green Depot, 33 Parsons Green Lane, London, SW6 4HH.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.5.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 218 | 227 | ||
4.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
7.
Average Number of Employees
Average number of employees, including directors, during the year was: 41 (2024: 39)
8.
Director's remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
9.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Interest on director's loan account | 28,936 | 7,671 | |
| HMRC interest | 90 | 6 | |
| Other interest receivable | 1,676 | - | |
| 43,820 | 11,077 | ||
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Foreign exchange charges |
|
|
|
| Other finance charges |
|
|
|
| 377,383 | 464,134 | ||
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
11.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
|
( |
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 363,178 | 684,131 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
|
( |
|||
| Prior period adjustment |
( |
|
|||
| Total tax charge for the period | 82,199 | 176,948 | |||
12.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2025 |
|
|
|
| Additions |
|
|
|
| Disposals |
( |
( |
( |
| As at 31 December 2025 |
|
|
|
| Depreciation | |||
| As at 1 January 2025 |
|
|
|
| Provided during the period |
|
|
|
| Disposals |
( |
( |
( |
| As at 31 December 2025 |
|
|
|
| Net Book Value | |||
| As at 31 December 2025 |
|
|
|
| As at 1 January 2025 |
|
|
|
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
13.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Finished goods |
|
|
|
14.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 2,346,229 | 2,100,716 | |
|
|
|
||
| Due after more than one year | |||
| Other debtors | - | 1,121 | |
|
|
|
||
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Anlaysis of Other Debtors
|
|||
|
Deferred costs of sale
|
1,393,344
|
1,457,138
|
|
|
Prepayments and accrued income
|
213,562
|
69,818
|
|
|
Other debtors
|
739,323
|
573,760
|
|
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|
|
||
|
2,346,229
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
2,100,716
|
15.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 227,171 | 206,382 | |
| Corporation tax |
|
|
|
| Taxation and social security | 222,696 | 347,337 | |
| Accruals and deferred income | 3,753,026 | 4,000,972 | |
|
|
|
||
16.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 January 2025 |
( |
(1,121) |
| Additions |
|
3,642 |
| Balance at 31 December 2025 |
|
2,521 |
Deferred tax arises from timing differences.
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
18.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
During 2025 the company renewed its property leases at Parsons Green Depot, 33 Parsons Green Lane, London, SW6 4HH.
19.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £24,652 (2024: 21,741).
At the balance sheet date contributions of £10,970 (2024: £8,426) were due to the fund and are included in creditors.
20.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
21.
Related Party Disclosures
Transactions with the director
Dividends totalling £275,000 (2024: £380,000) were paid in the year in respect of shares held by the company's director.
Included within other debtors due within one year are loans to the director amounting to £605,165 (2024: 265,291). Amounts advanced in the year totalled £1,455,289 (2024: £670,763) and amounts repaid during the year totalled £1,115,415 (2024: £525,309).
Loans to the director are unsecured, repayable on demand and interest is charged at HMRC approved rates.
The company rents two commercial premises from the director. The annual rents charged to the company are £140,000 (2024: £140,000).
In September 2013 a charge was registered over the assets of the company related to a loan made to John Darling to finance the acquisition of the commercial properties which the company uses for trading purposes.
Other related parties
Periodically the company makes interest-free loans to Bronte Caravan Park Limited, a company controlled by John Darling. During the year a total of £300,000 was lent and £303,549 was repaid (2024: £150,000 was lent and repaid). The balance outstanding at the year-end was nil (2024 £3,549).
Darlings of Chelsea Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
22.
Controlling Parties
The company's ultimate controlling party is
John Darling
by virtue of his interest in the share capital of the company.