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REGISTERED NUMBER: 05233328 (England and Wales)










Bingley Textile Supplies Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023






Bingley Textile Supplies Limited (Registered number: 05233328)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Bingley Textile Supplies Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: J M Hassell
Mrs M Hassell
A D Hassell
S P Hassell
D Hassell





SECRETARY: Mrs M Hassell





REGISTERED OFFICE: Suite 3, Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ





REGISTERED NUMBER: 05233328 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Bingley Textile Supplies Limited (Registered number: 05233328)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 19,649 28,009
Tangible assets 5 43,903 55,325
63,552 83,334

CURRENT ASSETS
Stocks 106,456 104,533
Debtors 6 149,754 160,568
Cash at bank and in hand 94,747 167,783
350,957 432,884
CREDITORS
Amounts falling due within one year 7 (183,791 ) (244,284 )
NET CURRENT ASSETS 167,166 188,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,718

271,934

CREDITORS
Amounts falling due after more than one
year

8

(26,515

)

(44,261

)

PROVISIONS FOR LIABILITIES (745 ) (2,080 )
NET ASSETS 203,458 225,593

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 10 203,338 225,473
SHAREHOLDERS' FUNDS 203,458 225,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Bingley Textile Supplies Limited (Registered number: 05233328)

Balance Sheet - continued
30 September 2023


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 7 March 2024 and were signed on its behalf by:





A D Hassell - Director


Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Bingley Textile Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is comprised of the incorporation of a partnership in 2005 together with an acquisition in 2008, and is being amortised over the life of the assets to which it relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

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 credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are measured at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. Impairment loss is recognised immediately in the profit and loss.


Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 12 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 176,000
AMORTISATION
At 1 October 2022 147,991
Charge for year 8,360
At 30 September 2023 156,351
NET BOOK VALUE
At 30 September 2023 19,649
At 30 September 2022 28,009

Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 244,809
Disposals (1,375 )
At 30 September 2023 243,434
DEPRECIATION
At 1 October 2022 189,484
Charge for year 11,205
Eliminated on disposal (1,158 )
At 30 September 2023 199,531
NET BOOK VALUE
At 30 September 2023 43,903
At 30 September 2022 55,325

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 34,000
DEPRECIATION
At 1 October 2022 7,792
Charge for year 6,552
At 30 September 2023 14,344
NET BOOK VALUE
At 30 September 2023 19,656
At 30 September 2022 26,208

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 137,323 145,645
Other debtors 12,431 14,923
149,754 160,568

Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 10,207 10,002
Hire purchase contracts (see note 9) 7,714 7,149
Trade creditors 94,057 142,003
Taxation and social security 49,701 77,576
Other creditors 22,112 7,554
183,791 244,284

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 17,470 27,502
Hire purchase contracts (see note 9) 9,045 16,759
26,515 44,261

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 7,714 7,149
Between one and five years 9,045 16,759
16,759 23,908

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year - 1,849
Between one and five years 17,328 -
17,328 1,849

10. RESERVES
Retained
earnings
£   

At 1 October 2022 225,473
Profit for the year 36,865
Dividends (59,000 )
At 30 September 2023 203,338

Bingley Textile Supplies Limited (Registered number: 05233328)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. During the year £4,247 (2022: £3,941) has been charged to the profit and loss account in respect of pension contributions. At the balance sheet date, there were outstanding contributions of £495 (2022: £405).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
J M Hassell and Mrs M Hassell
Balance outstanding at start of year (2,180 ) (1,500 )
Amounts advanced 26,420 24,020
Amounts repaid (23,700 ) (24,700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 540 (2,180 )

A D Hassell
Balance outstanding at start of year 10,363 15,284
Amounts advanced 30,313 31,619
Amounts repaid (34,119 ) (36,540 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,557 10,363

S P Hassell
Balance outstanding at start of year 2,489 9,041
Amounts advanced 22,523 30,920
Amounts repaid (35,472 ) (37,472 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,460 ) 2,489

The advances to directors are interest free and repayable on demand.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Bingley Textile Supplies Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bingley Textile Supplies Limited for the year ended 30 September 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bingley Textile Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bingley Textile Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Bingley Textile Supplies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bingley Textile Supplies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bingley Textile Supplies 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 Bingley Textile Supplies Limited. You consider that Bingley Textile Supplies 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 Bingley Textile Supplies 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.






Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ


7 March 2024