REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2024 |
for |
Textphase Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2024 |
for |
Textphase Limited |
Textphase Limited (Registered number: 03000822) |
Contents of the Financial Statements |
for the year ended 30 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Textphase Limited |
Company Information |
for the year ended 30 March 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Cawley House |
149-155 Canal Street |
Nottingham |
Nottinghamshire |
NG1 7HR |
Textphase Limited (Registered number: 03000822) |
Balance Sheet |
30 March 2024 |
30/3/24 | 30/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Textphase Limited (Registered number: 03000822) |
Balance Sheet - continued |
30 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Textphase Limited (Registered number: 03000822) |
Notes to the Financial Statements |
for the year ended 30 March 2024 |
1. | STATUTORY INFORMATION |
Textphase Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Exceptional items |
Exceptional items are material transactions within the ordinary activities of the company which are not expected to occur regularly. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Textphase Limited (Registered number: 03000822) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
COST |
At 31 March 2023 |
and 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
Fair value at 30 March 2024 is represented by: |
£ |
Valuation in 2007 | (39,734 | ) |
Valuation in 2008 | 1,000 |
Valuation in 2012 | (46,000 | ) |
Valuation in 2018 | (170,460 | ) |
Valuation in 2021 | 165,000 |
Valuation in 2023 | 3,507 |
Cost | 1,141,687 |
1,055,000 |
The investment property was revalued in March 2021 by FHP Property Consultants and updated in March 2023 by the director based on open market values. The director considers this valuation still represents the fair value of the property at 30 March 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/3/24 | 30/3/23 |
£ | £ |
Trade debtors |
Other debtors |
Textphase Limited (Registered number: 03000822) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/3/24 | 30/3/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 30/3/24 | 30/3/23 |
value: | £ | £ |
Ordinary shares | £1 | 2 | 1 |
(30/3/23 - 1 ) |
1 Ordinary share of £1 was issued during the year |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 31 March 2023 |
and 30 March 2024 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 March 2024 and 30 March 2023: |
30/3/24 | 30/3/23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest has been paid on the amount borrowed at the official rate of interest of 2.25% per annum. |