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REGISTERED NUMBER: 03000822 (England and Wales)












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: F J Windmill-Jones





SECRETARY: A Holliday





REGISTERED OFFICE: Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR





REGISTERED NUMBER: 03000822 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
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 4 273 500
Investment property 5 1,055,000 1,055,000
1,055,273 1,055,500

CURRENT ASSETS
Debtors 6 82,680 3,264
Prepayments and accrued income 1,577 9,391
Cash at bank 63,638 472,950
147,895 485,605
CREDITORS
Amounts falling due within one year 7 17,406 49,653
NET CURRENT ASSETS 130,489 435,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,185,762

1,491,452

ACCRUALS AND DEFERRED INCOME 2,694 2,869
NET ASSETS 1,183,068 1,488,583

CAPITAL AND RESERVES
Called up share capital 8 2 1
Revaluation reserve 9 59,540 59,540
Retained earnings 1,123,526 1,429,042
SHAREHOLDERS' FUNDS 1,183,068 1,488,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 9 August 2024 and were signed by:





F J Windmill-Jones - Director


Textphase Limited (Registered number: 03000822)

Notes to the Financial Statements
for the year ended 30 March 2024

1. STATUTORY INFORMATION

Textphase 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.

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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 1 (2023 - 1 ) .

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 1,567
DEPRECIATION
At 31 March 2023 1,067
Charge for year 227
At 30 March 2024 1,294
NET BOOK VALUE
At 30 March 2024 273
At 30 March 2023 500

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023
and 30 March 2024 1,055,000
NET BOOK VALUE
At 30 March 2024 1,055,000
At 30 March 2023 1,055,000

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 2,603 3,050
Other debtors 80,077 214
82,680 3,264

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 5,460 17,953
Taxation and social security 11,946 26,351
Other creditors - 5,349
17,406 49,653

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30/3/24 30/3/23
value: £    £   
2 Ordinary shares £1 2 1
(30/3/23 - 1 )

1 Ordinary share of £1 was issued during the year for cash of £ 1 .

9. RESERVES
Revaluation
reserve
£   
At 31 March 2023
and 30 March 2024 59,540

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
£    £   
F J Windmill-Jones
Balance outstanding at start of year - -
Amounts advanced 42,250 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,250 -

Interest has been paid on the amount borrowed at the official rate of interest of 2.25% per annum.