2022-05-012023-04-302023-04-30false00601019Camtex Fabrics 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Camtex Fabrics Limited

Registered Number
00601019
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

Camtex Fabrics Limited
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

OHARE Conor
OHARE Kieran Dermot

Registered Address

Briar Lea House Brampton Road
Longtown
Carlisle
CA6 5TN

Registered Number

00601019 (England and Wales)
Camtex Fabrics Limited
Statement of Financial Position
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets63731,116
Investments737,58695,161
37,95996,277
Current assets
Stocks42,04313,673
Debtors9106,930214,012
Cash at bank and on hand442,994238,967
591,967466,652
Creditors amounts falling due within one year10(214,017)(207,075)
Net current assets (liabilities)377,950259,577
Total assets less current liabilities415,909355,854
Creditors amounts falling due after one year11(229,501)(229,501)
Net assets186,408126,353
Capital and reserves
Called up share capital100100
Profit and loss account186,308126,253
Shareholders' funds186,408126,353
The financial statements were approved and authorised for issue by the Board of Directors on 2 November 2023, and are signed on its behalf by:
OHARE Kieran Dermot
Director
Registered Company No. 00601019
Camtex Fabrics Limited
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Smallest group in which results are consolidated
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Camtex Corporation Limited, a company registered in England and Wales, registered office address Briar Lea House, Brampton Road, Longtown, Carlisle, CA6 5TN, company number 04345806.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Plant and Machinery - over 3 to 10 years straight line
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.
Government grants and other government assistance policy
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
Leases policy
Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
5.Employee information

20232022
Average number of employees during the year24
6.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 May 227,2157,215
At 30 April 237,2157,215
Depreciation and impairment
At 01 May 226,0996,099
Charge for year743743
At 30 April 236,8426,842
Net book value
At 30 April 23373373
At 30 April 221,1161,116
7.Fixed asset investments
£37,586 is a joint venture investment. Shares held in an associate were disposed of on 15 August 2022.

Investments in groups1

Total

££
Cost or valuation
At 01 May 2295,16195,161
Disposals(57,575)(57,575)
At 30 April 2337,58637,586
Net book value
At 30 April 2337,58637,586
At 30 April 2295,16195,161

Notes

1Investments in group undertakings and participating interests
8.Off balance sheet pension commitments
The directors pension cost charge represents contributions payable by the company to the parent company in respect of a recharge to cover contributions to the directors personal defined contribution schemes and amounted to £6,000 (2022 - £6,000).
9.Debtors

2023

2022

££
Trade debtors / trade receivables80,284175,801
Other debtors64018,483
Prepayments and accrued income26,00619,728
Total106,930214,012
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables191,29269,310
Amounts owed to related parties12,752118,438
Taxation and social security252488
Accrued liabilities and deferred income9,72118,839
Total214,017207,075
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Other creditors229,501229,501
Total229,501229,501
The following preference shares included in creditors due more than one year and are repayable in more than 5 years: 125,000 (2022 - 125,000) 6% Cumulative Redeemable Preference Shares of £1 each 104,501 (2022 - 104,501) 5% Non-cumulative Redeemable Preference shares of £1 each