IRIS Accounts Production v22.2.0.402 06370559 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure063705592020-12-31063705592021-12-31063705592021-01-012021-12-31063705592019-12-31063705592020-01-012020-12-31063705592020-12-3106370559ns16:EnglandWales2021-01-012021-12-3106370559ns15:PoundSterling2021-01-012021-12-3106370559ns11:Director12021-01-012021-12-3106370559ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3106370559ns11:SmallEntities2021-01-012021-12-3106370559ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3106370559ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3106370559ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3106370559ns11:FullAccounts2021-01-012021-12-3106370559ns11:Director22021-01-012021-12-3106370559ns11:RegisteredOffice2021-01-012021-12-3106370559ns6:CurrentFinancialInstruments2021-12-3106370559ns6:CurrentFinancialInstruments2020-12-3106370559ns6:ShareCapital2021-12-3106370559ns6:ShareCapital2020-12-3106370559ns6:RetainedEarningsAccumulatedLosses2021-12-3106370559ns6:RetainedEarningsAccumulatedLosses2020-12-3106370559ns6:PlantMachinery2021-01-012021-12-3106370559ns6:PlantMachinery2020-12-3106370559ns6:PlantMachinery2021-12-3106370559ns6:PlantMachinery2020-12-3106370559ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3106370559ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 06370559 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st December 2021

for

TEXTILE INNOVATIONS LIMITED

TEXTILE INNOVATIONS LIMITED (REGISTERED NUMBER: 06370559)

Contents of the Financial Statements
for the Year Ended 31st December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEXTILE INNOVATIONS LIMITED

Company Information
for the Year Ended 31st December 2021







DIRECTORS: D W Holdsworth
J Holdsworth





REGISTERED OFFICE: Middle Pasture
Heath Lane
Halifax
West Yorkshire
HX3 0AG





REGISTERED NUMBER: 06370559 (England and Wales)





ACCOUNTANTS: Riley & Co Limited
Chartered Accountants
52 St Johns Lane
Halifax
West Yorkshire
HX1 2BW

TEXTILE INNOVATIONS LIMITED (REGISTERED NUMBER: 06370559)

Balance Sheet
31st December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 523 980

CURRENT ASSETS
Stocks 92,337 -
Debtors 5 52,584 130,116
Cash at bank 207,646 165,651
352,567 295,767
CREDITORS
Amounts falling due within one year 6 202,853 190,093
NET CURRENT ASSETS 149,714 105,674
TOTAL ASSETS LESS CURRENT LIABILITIES 150,237 106,654

PROVISIONS FOR LIABILITIES 99 186
NET ASSETS 150,138 106,468

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 150,038 106,368
SHAREHOLDERS' FUNDS 150,138 106,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

TEXTILE INNOVATIONS LIMITED (REGISTERED NUMBER: 06370559)

Balance Sheet - continued
31st December 2021


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 2nd September 2022 and were signed on its behalf by:





D W Holdsworth - Director


TEXTILE INNOVATIONS LIMITED (REGISTERED NUMBER: 06370559)

Notes to the Financial Statements
for the Year Ended 31st December 2021


1. STATUTORY INFORMATION

Textile Innovations 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.
Plant and machinery etc - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TEXTILE INNOVATIONS LIMITED (REGISTERED NUMBER: 06370559)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2021 5,944
Disposals (556 )
At 31st December 2021 5,388
DEPRECIATION
At 1st January 2021 4,964
Charge for year 458
Eliminated on disposal (557 )
At 31st December 2021 4,865
NET BOOK VALUE
At 31st December 2021 523
At 31st December 2020 980

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 23,715 77,621
Other debtors 28,869 52,495
52,584 130,116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade creditors 82,212 21,662
Taxation and social security 82,367 67,831
Other creditors 38,274 100,600
202,853 190,093