1 February 2022 v2023.24.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP098611672022-02-012023-01-31098611672023-01-31098611672022-01-3109861167core:WithinOneYear2023-01-3109861167core:WithinOneYear2022-01-3109861167core:ShareCapital2023-01-3109861167core:ShareCapital2022-01-3109861167core:RetainedEarningsAccumulatedLosses2023-01-3109861167core:RetainedEarningsAccumulatedLosses2022-01-3109861167bus:Director12022-02-012023-01-3109861167bus:RegisteredOffice2022-02-012023-01-3109861167core:LandBuildings2022-02-012023-01-3109861167core:PlantMachinery2022-02-012023-01-3109861167core:MotorVehicles2022-02-012023-01-3109861167core:FurnitureFittings2022-02-012023-01-3109861167core:OfficeEquipment2022-02-012023-01-31098611672021-02-012022-01-3109861167core:LandBuildings2023-01-3109861167core:PlantMachinery2023-01-3109861167core:LandBuildings2022-02-0109861167core:PlantMachinery2022-02-01098611672022-02-0109861167core:LandBuildings2022-01-3109861167core:PlantMachinery2022-01-310986116712022-02-012023-01-3109861167countries:EnglandWales2022-02-012023-01-3109861167bus:AuditExemptWithAccountantsReport2022-02-012023-01-3109861167bus:PrivateLimitedCompanyLtd2022-02-012023-01-3109861167bus:SmallEntities2022-02-012023-01-3109861167bus:FullAccounts2022-02-012023-01-31
Company registration number:
09861167
Huddersfield Textiles Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2023
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park, Wakefield Road, Huddersfield, West Yorkshire, HD8 8QH, United Kingdom
Huddersfield Textiles Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Huddersfield Textiles Limited
Year ended
31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Huddersfield Textiles Limited
for the year ended
31 January 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Huddersfield Textiles Limited
, as a body, in accordance with the terms of our engagement letter dated 1 February 2022. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Huddersfield Textiles Limited
and state those matters that we have agreed to state to the Board of Directors of
Huddersfield Textiles Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Huddersfield Textiles Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Huddersfield Textiles Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Huddersfield Textiles Limited
. You consider that
Huddersfield Textiles Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Huddersfield Textiles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park
Wakefield Road
Huddersfield
West Yorkshire
HD8 8QH
United Kingdom
Date:
23 October 2023
Huddersfield Textiles Limited
Statement of Financial Position
31 January 2023
20232022
Note££
Fixed assets    
Tangible assets 5
814,344
 
878,859
 
Current assets    
Stocks
385,000
 
385,000
 
Debtors 6
398,574
 
353,040
 
Cash at bank and in hand
27,687
 
60,258
 
811,261
 
798,298
 
Creditors: amounts falling due within one year 7
(268,889
)
(115,065
)
Net current assets
542,372
 
683,233
 
Total assets less current liabilities 1,356,716   1,562,092  
Provisions for liabilities
(2,087,903
)
(2,298,669
)
Net liabilities
(731,187
)
(736,577
)
Capital and reserves    
Called up share capital
101
 
101
 
Profit and loss account
(731,288
)
(736,678
)
Shareholders deficit
(731,187
)
(736,577
)
For the year ending
31 January 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
23 October 2023
, and are signed on behalf of the board by:
Mr R Taylor
Director
Company registration number:
09861167
Huddersfield Textiles Limited
Notes to the Financial Statements
Year ended
31 January 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 1B Denby Dale Business Park, Wakefield Road
,
Denby Dale
,
Huddersfield
,
West Yorkshire
,
HD8 8QH
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 50 years
Plant and machinery
25% straight line
Motor vehicles
25% straight line
Fixtures and fittings
25% straight line
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
10.00
(2022:
9
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2022
and
31 January 2023
793,557
 
203,291
 
996,848
 
Depreciation      
At
1 February 2022
30,797
 
87,192
 
117,989
 
Charge
15,871
 
48,644
 
64,515
 
At
31 January 2023
46,668
 
135,836
 
182,504
 
Carrying amount      
At
31 January 2023
746,889
 
67,455
 
814,344
 
At 31 January 2022
762,760
 
116,099
 
878,859
 

6 Debtors

20232022
££
Trade debtors -  
20,837
 
Other debtors
398,574
 
332,203
 
398,574
 
353,040
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
23,378
 
4,524
 
Trade creditors
242,028
 
98,893
 
Taxation and social security
2,942
 
3,504
 
Other creditors
541
 
8,144
 
268,889
 
115,065
 

9 Controlling party

The company was under the control of MR RS Taylor throughout the current year and prior year. Mr RS Taylor is the managing director and majority shareholder.