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Registered number: 08603972









Continental Textiles (Group) Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2021

 
Continental Textiles (Group) Limited
Registered number: 08603972

Balance sheet
As at 31 December 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
4,420,000
4,420,000

Current assets
  

Debtors: amounts falling due within one year
 5 
355,609
355,609

Total assets less current liabilities
  
 
 
4,775,609
 
 
4,775,609

  

Net assets
  
4,775,609
4,775,609


Capital and reserves
  

Called up share capital 
  
2,590,970
2,590,970

Profit and loss account
  
2,184,639
2,184,639

  
4,775,609
4,775,609


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J A Crewe
Director

Date: 9 August 2022


The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
Continental Textiles (Group) Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

1.


General information

Continental Textiles (Group) Limited is a private company limited by share capital and incorporated in England. The company registration number is 08603972. The address of the registered office and principal place of business is 3 Avocado Court, Commerce Way, Trafford Park, Manchester, M17 1HW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).

Page 2

 
Continental Textiles (Group) Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2021

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
4,420,000



At 31 December 2021
4,420,000





5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
354,609
354,609

Called up share capital not paid
1,000
1,000

355,609
355,609



6.


Related party transactions

The company has made use of the provisions available under FRS 102 to not disclose transactions with entities that it wholly owns.


7.


Controlling party

The company is under the ultimate control of the directors by virtue of their shareholding in the company.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 11 August 2022 by Tim Potter (Senior statutory auditor) on behalf of Hurst Accountants Limited.

Page 3