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REGISTERED NUMBER: 00923483 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

IAN SANDERSON (TEXTILES) LIMITED

IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IAN SANDERSON (TEXTILES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J A Sanderson
Mrs H E Sanderson





SECRETARY: Mrs H E Sanderson





REGISTERED OFFICE: Hill Farm
Newtown
Newbury
Berkshire
RG20 9DA





REGISTERED NUMBER: 00923483 (England and Wales)





ACCOUNTANTS: River Thames Accountancy Ltd
Valley View
Newbury Road
Great Shefford
Hungerford
Berkshire
RG17 7EE

IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,985 11,730
Investments 5 207,661 -
224,646 11,730

CURRENT ASSETS
Stocks 554,285 500,843
Debtors 6 151,748 115,560
Cash at bank 1,299,729 1,140,527
2,005,762 1,756,930
CREDITORS
Amounts falling due within one year 7 801,309 527,577
NET CURRENT ASSETS 1,204,453 1,229,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,429,099

1,241,083


PROVISIONS FOR LIABILITIES 5,135 -

CAPITAL AND RESERVES
Called up share capital 35,000 35,000
Share premium 34,240 34,240
Capital redemption reserve 6,800 6,800
Retained earnings 1,347,924 1,165,043
1,423,964 1,241,083
1,429,099 1,241,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)

BALANCE SHEET - continued
29 FEBRUARY 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 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 30 September 2024 and were signed on its behalf by:




Mrs H E Sanderson - Director



J A Sanderson - Director


IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Ian Sanderson (Textiles) 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

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 etc - 15% 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.

Cost is calculated on a first in, first out basis.

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.

IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 119,060
Additions 11,085
Disposals (9,613 )
At 29 February 2024 120,532
DEPRECIATION
At 1 March 2023 107,330
Charge for year 5,668
Eliminated on disposal (9,451 )
At 29 February 2024 103,547
NET BOOK VALUE
At 29 February 2024 16,985
At 28 February 2023 11,730

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 203,639
Disposals (2,044 )
Revaluations 6,066
At 29 February 2024 207,661
NET BOOK VALUE
At 29 February 2024 207,661

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£   
Valuation in 2024 207,661

IAN SANDERSON (TEXTILES) LIMITED (REGISTERED NUMBER: 00923483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. FIXED ASSET INVESTMENTS - continued

If Courtiers Total Return units had not been revalued they would have been included at the following historical cost:

29.2.24 28.2.23
as restated
£    £   
Cost 201,595 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
as restated
£    £   
Trade debtors 94,702 92,146
Other debtors 57,046 23,414
151,748 115,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
as restated
£    £   
Trade creditors 153,292 95,370
Taxation and social security 154,702 101,694
Other creditors 493,315 330,513
801,309 527,577

8. ULTIMATE CONTROLLING PARTY

Throughout the year, the ultimate controlling parties were the directors, J A Sanderson and H E Sanderson by virtue of the fact that they owned all of the issued share capital of the company.