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REGISTERED NUMBER: 05104962 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

DAYLIGHT GRIP & TEXTILES LTD

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


DAYLIGHT GRIP & TEXTILES LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: Mr P J Leonard
Mr D B Leonard



SECRETARY: Mrs C Shaoul-Leonard



REGISTERED OFFICE: Britannic House
657 Liverpool Road
Irlam
Manchester
M44 5XD



BUSINESS ADDRESS: Unit 4 Agecroft Network Centre
Lamplight Way
Prestwich
Manchester
Greater Manchester
M27 8UJ



REGISTERED NUMBER: 05104962 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: HSBC Bank Plc
4 Hardman Square
Spinningfields
Manchester

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

REPORT OF THE DIRECTORS
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture and supply of specialist textile products to the film and photographic sectors.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 November 2022 to the date of this report.

The beneficial interests of the directors holding office at 31 October 2023 in the shares of the company, according to the register of directors' interests, were as follows:

31.10.23 1.11.22
Ordinary A shares of £1 each
Mr P J Leonard 15 15
Mr D B Leonard 10 10

Ordinary B shares of £1 each
Mr P J Leonard 1 1
Mr D B Leonard - -

Ordinary C shares of £1 each
Mr P J Leonard - -
Mr D B Leonard 1 1

These directors did not hold any non-beneficial interests in any of the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr D B Leonard - Director


24 November 2023

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 164,280 171,064

CURRENT ASSETS
Stocks 203,608 128,431
Debtors 5 184,401 212,850
Cash at bank and in hand 526,524 424,322
914,533 765,603
CREDITORS
Amounts falling due within one year 6 (238,060 ) (191,252 )
NET CURRENT ASSETS 676,473 574,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

840,753

745,415

CREDITORS
Amounts falling due after more than one
year

7

(15,968

)

(25,817

)

PROVISIONS FOR LIABILITIES (41,070 ) (32,502 )
NET ASSETS 783,715 687,096

CAPITAL AND RESERVES
Called up share capital 52 52
Retained earnings 783,663 687,044
SHAREHOLDERS' FUNDS 783,715 687,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

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

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

BALANCE SHEET - continued
31 October 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 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 24 November 2023 and were signed on its behalf by:





Mr D B Leonard - Director


DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Daylight Grip & Textiles Ltd 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.

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 - 25% on reducing balance
Office equipment - 25% on cost
Furniture and equipment - 25% on cost

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.

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
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.

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Furniture
Plant and Office and
machinery equipment equipment Totals
£    £    £    £   
COST
At 1 November 2022 198,381 22,928 71,987 293,296
Additions 16,816 340 1,189 18,345
At 31 October 2023 215,197 23,268 73,176 311,641
DEPRECIATION
At 1 November 2022 48,858 20,565 52,809 122,232
Charge for year 18,072 1,385 5,672 25,129
At 31 October 2023 66,930 21,950 58,481 147,361
NET BOOK VALUE
At 31 October 2023 148,267 1,318 14,695 164,280
At 31 October 2022 149,523 2,363 19,178 171,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 155,042 185,647
Other debtors 5,559 5,559
Directors' current accounts 20,000 20,000
Prepayments 3,800 1,644
184,401 212,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 103,115 89,285
Tax 67,800 57,961
Social security and other taxes 3,173 4,091
VAT 31,416 12,057
Accrued expenses 21,908 17,210
238,060 191,252

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,968 15,817
15,968 25,817

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr P J Leonard
Balance outstanding at start of year 10,000 10,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 10,000

Mr D B Leonard
Balance outstanding at start of year 10,000 10,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 10,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P J Leonard.