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Company Registration No. 03587155 (England and Wales)
THE TEX SERVICES GROUP LTD Unaudited accounts for the year ended 31 October 2023
THE TEX SERVICES GROUP LTD Unaudited accounts Contents
Page
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THE TEX SERVICES GROUP LTD Company Information for the year ended 31 October 2023
Directors
A Exley M Exley
Company Number
03587155 (England and Wales)
Registered Office
26 GREEN HILL LANE, WORTLEY LEEDS WEST YORKAHIRE LS12 4HA
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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THE TEX SERVICES GROUP LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
382,678 
287,056 
Investment property
380,000 
380,000 
762,678 
667,056 
Current assets
Inventories
364,750 
300,500 
Debtors
1,075,769 
1,901,264 
Cash at bank and in hand
831,123 
503,413 
2,271,642 
2,705,177 
Creditors: amounts falling due within one year
(768,420)
(540,547)
Net current assets
1,503,222 
2,164,630 
Total assets less current liabilities
2,265,900 
2,831,686 
Creditors: amounts falling due after more than one year
(914,065)
(872,802)
Provisions for liabilities
Deferred tax
(41,753)
(10,948)
Net assets
1,310,082 
1,947,936 
Capital and reserves
Called up share capital
250 
200 
Profit and loss account
1,309,832 
1,947,736 
Shareholders' funds
1,310,082 
1,947,936 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by
A Exley Director Company Registration No. 03587155
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
THE TEX SERVICES GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 03587155. The registered office is 26 GREEN HILL LANE, WORTLEY, LEEDS, WEST YORKAHIRE, LS12 4HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on a reducing balance
Motor vehicles
25% on a reducing balance
Computer equipment
30% on a reducing balance
Investment properties
Investment properties is included at fair market value. Gains/(losses) on the revaluation are recognised in the income statement. Deferred taxation is provided on these gains/(losses) at the rate expected to apply when the property is sold. The carrying value is based on the directors' valuations as at the year end.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
231,294 
743,113 
31,884 
1,006,291 
Additions
188,500 
20,500 
- 
209,000 
Disposals
(13,514)
- 
- 
(13,514)
At 31 October 2023
406,280 
763,613 
31,884 
1,201,777 
Depreciation
At 1 November 2022
191,259 
511,916 
16,060 
719,235 
Charge for the year
45,707 
62,924 
4,747 
113,378 
On disposals
(13,514)
- 
- 
(13,514)
At 31 October 2023
223,452 
574,840 
20,807 
819,099 
Net book value
At 31 October 2023
182,828 
188,773 
11,077 
382,678 
At 31 October 2022
40,035 
231,197 
15,824 
287,056 
5
Investment property
2023 
£ 
Fair value at 1 November 2022
380,000 
At 31 October 2023
380,000 
The director has stated the market value of the property at £380,000 as at the year end. The valuation has not been verified by a professional valuer.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
914,937 
894,740 
Accrued income and prepayments
20,569 
766,169 
Other debtors
140,263 
240,355 
1,075,769 
1,901,264 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
42,756 
42,756 
VAT
164,743 
112,440 
Obligations under finance leases and hire purchase contracts
57,284 
24,468 
Trade creditors
323,460 
245,418 
Taxes and social security
149,221 
79,957 
Other creditors
25,631 
28,493 
Accruals
5,325 
7,015 
768,420 
540,547 
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
768,992 
802,613 
Obligations under finance leases and hire purchase contracts
145,073 
70,189 
914,065 
872,802 
The loans are secured over properties held by the director and also the investment property held by the company.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares A of £1 each
50 
100 
100 Ordinary shares B of £1 each
100 
100 
100 Ordinary shares C of £1 each
100 
- 
250 
200 
Shares issued during the period:
100 Ordinary shares C of £1 each
100 
10
Capital contribution reserve
During the year, there was a company share re-purchase totalling £1,256,250, including stamp duty. The 50 ordinary shares pertaining to the re-purchase by the company were cancelled.
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
A Exley
Loan
179,763 
- 
39,500 
140,263 
K Exley
Loan
15,857 
- 
15,857 
- 
195,620 
- 
55,357 
140,263 
There were no interest charges on the amounts outstanding. The loan was repaid after the year end.
12
Transactions with related parties
The company rents premises that is owned by the director. During the year, rent was charged of £42,000 (2022 - £42,000). The amount of rent is determined on the open market valuations. Dividends totalling £211,300 were paid to the shareholders (who were also the directors) during the period.
13
Average number of employees
During the year the average number of employees was 47 (2022: 59).
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