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REGISTERED NUMBER: 05340134 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 May 2022

for

Global Technical Textiles Limited

Global Technical Textiles Limited (Registered number: 05340134)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Global Technical Textiles Limited

Company Information
for the Year Ended 31 May 2022







DIRECTORS: J M J Hancock
Mrs F J Hancock





REGISTERED OFFICE: 6 Station View
Rhino Court
Hazel Grove
Stockport
Cheshire
SK7 5ER





REGISTERED NUMBER: 05340134 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
6 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Global Technical Textiles Limited (Registered number: 05340134)

Balance Sheet
31 May 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,673 4,612

CURRENT ASSETS
Stocks 88,128 103,320
Debtors 5 107,162 76,293
Cash at bank 401,502 281,375
596,792 460,988
CREDITORS
Amounts falling due within one year 6 297,623 214,120
NET CURRENT ASSETS 299,169 246,868
TOTAL ASSETS LESS CURRENT LIABILITIES 300,842 251,480

CREDITORS
Amounts falling due after more than one
year

7

-

(48,333

)

PROVISIONS FOR LIABILITIES - (373 )
NET ASSETS 300,842 202,774

CAPITAL AND RESERVES
Called up share capital 107 107
Retained earnings 300,735 202,667
SHAREHOLDERS' FUNDS 300,842 202,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

Global Technical Textiles Limited (Registered number: 05340134)

Balance Sheet - continued
31 May 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:





J M J Hancock - Director


Global Technical Textiles Limited (Registered number: 05340134)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Global Technical Textiles 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 - 33% on cost and 25% on cost

Government grants
Government grants are matched on an accruals basis against costs to which they relate.

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 Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

Global Technical Textiles Limited (Registered number: 05340134)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2021 30,240
Additions 2,497
At 31 May 2022 32,737
DEPRECIATION
At 1 June 2021 25,628
Charge for year 5,436
At 31 May 2022 31,064
NET BOOK VALUE
At 31 May 2022 1,673
At 31 May 2021 4,612

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade debtors 106,118 71,380
Other debtors 1,044 4,913
107,162 76,293

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans and overdrafts - 1,667
Trade creditors 86,791 101,962
Taxation and social security 90,947 25,772
Other creditors 119,885 84,719
297,623 214,120

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans - 48,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,333

Global Technical Textiles Limited (Registered number: 05340134)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

8. RELATED PARTY DISCLOSURES

As at 31 May 2022 the company owed the directors £86,940 (2021: £78,528).

9. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr J and Mrs F Hancock.