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REGISTERED NUMBER: 03550033 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Tweedmill Textiles Ltd

Tweedmill Textiles Ltd (Registered number: 03550033)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tweedmill Textiles Ltd

Company Information
for the Year Ended 30 April 2024







Directors: R J C W Beswick
W Ryan-Beswick
B Ryan-Beswick





Secretary: R J C W Beswick





Registered office: Unit 22
Castle Park Industrial Estate
Flint
Flintshire
CH6 5XA





Registered number: 03550033 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Tweedmill Textiles Ltd (Registered number: 03550033)

Statement of Financial Position
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 285,420 162,333

Current assets
Stocks 1,168,291 1,198,520
Debtors 5 719,684 1,278,285
Cash at bank and in hand 230,676 206,946
2,118,651 2,683,751
Creditors
Amounts falling due within one year 6 1,745,457 2,246,098
Net current assets 373,194 437,653
Total assets less current liabilities 658,614 599,986

Creditors
Amounts falling due after more than
one year

7

(100,248

)

(90,000

)

Provisions for liabilities 9 (65,729 ) (35,759 )
Net assets 492,637 474,227

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 491,637 473,227
492,637 474,227

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Tweedmill Textiles Ltd (Registered number: 03550033)

Statement of Financial Position - continued
30 April 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 11 November 2024 and were signed on its behalf by:





B Ryan-Beswick - Director


Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Tweedmill 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 5 years
Plant and machinery - straight line over 3 years
Fixtures, fittings and equipment - Straight line over 3 years
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Assets held under hire purchase agreements are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum hire purchase payments which is determined at the inception of the hire purchase agreement term. Any initial direct costs of the hire purchase are added to the amount recognised as an asset.

Hire purchase payments are apportioned between the the finance charges and reduction of the outstanding hire purchase liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 59 (2023 - 70 ) .

Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. Tangible fixed assets
Fixtures,
Improvements fittings
to Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
Cost
At 1 May 2023 155,841 260,027 331,523 49,740 797,131
Additions 9,000 140,045 28,697 54,309 232,051
Disposals - (56,183 ) - - (56,183 )
At 30 April 2024 164,841 343,889 360,220 104,049 972,999
Depreciation
At 1 May 2023 136,547 191,488 264,757 42,006 634,798
Charge for year 5,787 34,338 37,194 13,392 90,711
Eliminated on disposal - (37,930 ) - - (37,930 )
At 30 April 2024 142,334 187,896 301,951 55,398 687,579
Net book value
At 30 April 2024 22,507 155,993 58,269 48,651 285,420
At 30 April 2023 19,294 68,539 66,766 7,734 162,333

5. Debtors: amounts falling due within one year
30/4/24 30/4/23
£    £   
Trade debtors 371,160 592,792
Other debtors 348,524 685,493
719,684 1,278,285

6. Creditors: amounts falling due within one year
30/4/24 30/4/23
£    £   
Bank loan 40,000 40,000
Hire purchase contracts 6,577 -
Trade creditors 696,327 1,208,146
Amounts owed to group undertakings 314,627 349,786
Taxation and social security 226,915 145,918
Other creditors 461,011 502,248
1,745,457 2,246,098

Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. Creditors: amounts falling due after more than one year
30/4/24 30/4/23
£    £   
Bank loan 50,000 90,000
Hire purchase contracts 50,248 -
100,248 90,000

8. Secured debts

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Bank loan 90,000 130,000
Hire purchase contracts 56,825 -
146,825 130,000

The bank loan is secured by a fixed and floating charge over the Company's assets. Liabilities under hire purchase contracts are secured on the underlying assets.

9. Provisions for liabilities
30/4/24 30/4/23
£    £   
Deferred tax
Accelerated capital allowances 65,729 35,759

Deferred
tax
£   
Balance at 1 May 2023 35,759
Provided during year 29,970
Balance at 30 April 2024 65,729

Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30/4/24 30/4/23
£    £   
B Ryan-Beswick
Balance outstanding at start of year 108,135 115,193
Amounts advanced 336,646 128,402
Amounts repaid (383,871 ) (135,460 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,910 108,135

R J C W Beswick
Balance outstanding at start of year 27,500 -
Amounts advanced 50,373 27,500
Amounts repaid (41,873 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,000 27,500

W Ryan-Beswick
Balance outstanding at start of year 98,009 -
Amounts advanced 36,532 103,609
Amounts repaid (101,041 ) (5,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,500 98,009

Loans to directors are unsecured, interest free and repayable on demand. The maximum
balance outstanding in the period for B Ryan-Beswick was £197,921, for R J C W Beswick £36,000 and for W Ryan-Beswick £112,948.

Amounts advanced to B Ryan-Beswick include £15,000 on 12 February 2024. The aggregate of amounts advanced between £5,000 and £15,000 was £196,185. Amounts repaid by B Ryan-Beswick include £42,900 on 31 December 2023. The aggregate of amounts repaid between £5,000 and £15,000 was £185,623.

Amounts advanced to R J C W Beswick include £50,373 on 1 May 2023. Amounts repaid by R J C W Beswick include £39,000 on 31 December 2023.

Amounts advanced to W Ryan-Beswick include £10,000 on 31 May 2023. Amounts repaid by W Ryan-Beswick include £41,600 on 31 December 2023.

Tweedmill Textiles Ltd (Registered number: 03550033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. Related party disclosures

Tweedmill Textiles Limited has received loans from its parent company. At 30 April 2024 the
balance of these loans was £305,727 (2023 - £257,000). These loans are interest free,
unsecured and repayable on demand.

A group company has provided a guarantee in respect of the bank borrowings of Tweedmill Textiles Limited. The bank has also taken a charge over the group company's freehold property to secure these borrowings.