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REGISTERED NUMBER: 02840101 (England and Wales)





STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TWEEDMILL FACTORY SHOPPING LIMITED

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


TWEEDMILL FACTORY SHOPPING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R J Booth
Mrs L G Johns
N A Bate



SECRETARY: R J Booth



REGISTERED OFFICE: Oswaldtwistle Mills Business and
Conference Centre
Pickup Street
Accrington
BB5 0EY



REGISTERED NUMBER: 02840101 (England and Wales)



AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: National Westminister Bank Plc
Waterloo Street
Bolton
BL1 8FH

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report for the year ended 31 March 2024.

Review of the business
The company operates a large retail outlet, incorporating a restaurant in St Asaph, North Wales and generates its income from various sources:

1) Commission charges from a portfolio of diverse retail concessions;
2) Direct own buy retail operations;
3) Restaurant sales.

The full results as set out in the attached financial statements show a profit before taxation of £423,120 which is stated after an impairment charge of £332,242 relating to a subsidiary company which is no longer trading. The directors consider the state of affairs of the company to be satisfactory considering the current economic climate and the company has a strong platform to build on for the coming years.

Funding
The company operates well within its banking arrangements with National Westminster Bank Plc.

The company also benefits from a loan from its holding company.

Key performance indicators
The directors use 'non-financial' key performance indicators such as footfall and number of coach visits to monitor the progress of the business.

Principal risks and uncertainties
Liquidity risk
The directors believe that the company has sufficient funds available to support its activities in the future.

Market risk
The company is exposed to risks associated with the general economic environment and that of the retail sector. These risks are mitigated by monitoring market conditions and the activity of competitors and then taking appropriate action.

ON BEHALF OF THE BOARD:





R J Booth - Director


24 March 2025

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

R J Booth
Mrs L G Johns

Other changes in directors holding office are as follows:

N A Bate - appointed 22 November 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





R J Booth - Director


24 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TWEEDMILL FACTORY SHOPPING LIMITED


Opinion
We have audited the financial statements of Tweedmill Factory Shopping Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TWEEDMILL FACTORY SHOPPING LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TWEEDMILL FACTORY SHOPPING LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the director and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Tweedmill Factory Shopping Limited are revenue recognition, management override and in the current environment whether the company remains a going concern. The directors confirmed no actual, suspected or alleged cases of fraud.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing sales cut off and testing controls in place in respect of sales and those areas susceptible to management override including testing manual journals and making enquiries of management. Going concern was reviewed by assessing the company's available financial resources and accuracy of cash flow forecasting as well as enquiries of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

27 March 2025

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   

TURNOVER 4,339,105 3,708,440

Cost of sales 2,592,405 2,035,129
GROSS PROFIT 1,746,700 1,673,311

Administrative expenses 1,007,173 5,072,959
739,527 (3,399,648 )

Other operating income 21,677 4,035
OPERATING PROFIT/(LOSS) 4 761,204 (3,395,613 )

Income from shares in group undertakings 18,862 -
Interest receivable and similar income 20,456 7,272
39,318 7,272
800,522 (3,388,341 )
Amounts written off investments 6 332,242 -
468,280 (3,388,341 )

Interest payable and similar expenses 7 45,160 50,401
PROFIT/(LOSS) BEFORE TAXATION 423,120 (3,438,742 )

Tax on profit/(loss) 8 152,194 250,855
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

270,926

(3,689,597

)

Retained earnings at beginning of year 2,291,418 5,981,015

RETAINED EARNINGS AT END OF
YEAR

2,562,344

2,291,418

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 24,000 31,836
Tangible assets 10 6,328,409 6,370,115
Investments 11 - 332,242
6,352,409 6,734,193

CURRENT ASSETS
Stocks 12 406,175 354,916
Debtors 13 127,138 58,953
Cash at bank and in hand 607,038 909,783
1,140,351 1,323,652
CREDITORS
Amounts falling due within one year 14 1,649,708 1,548,300
NET CURRENT LIABILITIES (509,357 ) (224,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,843,052

6,509,545

CREDITORS
Amounts falling due after more than one
year

15

(2,868,737

)

(3,803,057

)

PROVISIONS FOR LIABILITIES 16 (410,972 ) (414,071 )
NET ASSETS 2,563,343 2,292,417

CAPITAL AND RESERVES
Called up share capital 17 666 666
Capital redemption reserve 18 333 333
Retained earnings 18 2,562,344 2,291,418
SHAREHOLDERS' FUNDS 2,563,343 2,292,417

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





R J Booth - Director


TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (164,390 ) 670,852
Interest paid (45,160 ) (50,401 )
Tax paid (103,941 ) (183,736 )
Net cash from operating activities (313,491 ) 436,715

Cash flows from investing activities
Purchase of intangible fixed assets - (31,836 )
Purchase of tangible fixed assets (30,408 ) (269,439 )
Purchase of fixed asset investments - (332,242 )
Sale of intangible fixed assets 1,836 -
Sale of tangible fixed assets - 11,500
Interest received 20,456 7,272
Dividends received 18,862 -
Net cash from investing activities 10,746 (614,745 )

Decrease in cash and cash equivalents (302,745 ) (178,030 )
Cash and cash equivalents at beginning of
year

2

909,783

1,087,813

Cash and cash equivalents at end of year 2 607,038 909,783

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.3.24 31.3.23
£    £   
Profit/(loss) before taxation 423,120 (3,438,742 )
Depreciation charges 76,076 78,461
Loss on disposal of fixed assets 2,038 2,505
Movement in group company balances (959,320 ) 3,812,840
Impairment of subsidiary 332,242 -
Finance costs 45,160 50,401
Finance income (39,318 ) (7,272 )
(120,002 ) 498,193
Increase in stocks (51,259 ) (83,395 )
(Increase)/decrease in trade and other debtors (68,185 ) 2,212
Increase in trade and other creditors 75,056 253,842
Cash generated from operations (164,390 ) 670,852

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 607,038 909,783
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 909,783 1,087,813


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 909,783 (302,745 ) 607,038
909,783 (302,745 ) 607,038
Total 909,783 (302,745 ) 607,038

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Tweedmill Factory Shopping 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis. At 31st March 2024 current liabilities exceeded current assets by £509,357. Included within current liabilities is a loan of £557,262 from a related party. This creditor has confirmed that they will continue to support the company and provide additional working capital if required.

Significant judgements and estimates
The directors have made judgements in relation to whether there are any indicators of impairment of the company's tangible fixed assets.

Estimation uncertainty relates to tangible fixed assets and stock.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of value added tax and trade discounts.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Freehold land and buildings, including all improvements, which are used in the company's own activities for the supply of goods and services or for administrative purposes are stated at cost. The directors review the carrying value each year and an adjustment is made if an impairment is considered permanent. The value of freehold buildings is not separately identified from land as the directors do not consider this provides any additional value to the shareholders. The directors are of the opinion that due to the high residual value any depreciation charge would be immaterial. Accordingly no deprecation is charged on freehold buildings.

Plant and equipment are stated at cost less accumulated depreciation.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes cost s directly attributable to making the asset capable of operating as intended.

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is the latest purchase invoice value.

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.

Operating leases
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as such in the balance sheet. Financial costs and gains or losses relating to financial liabilities are included in the profit and loss account. Financial costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 1,264,673 1,118,374
Social security costs 79,017 66,451
Other pension costs 17,904 15,371
1,361,594 1,200,196

The average number of employees during the year was as follows:
31.3.24 31.3.23

Shop, café, restaurant and admin staff 84 78
Executive staff 2 2
86 80

31.3.24 31.3.23
£    £   
Directors' remuneration 70,246 66,565

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

31.3.24 31.3.23
£    £   
Other operating leases 12,964 12,791
Depreciation - owned assets 70,076 78,461
Loss on disposal of fixed assets 2,038 2,505
Goodwill amortisation 6,000 -
Auditors' remuneration 12,000 12,000

5. EXCEPTIONAL ITEMS
31.3.24 31.3.23
£    £   
Exceptional items - (4,217,438 )

During the year to 31st March 2023 the company waived a loan due from a fellow group company totalling £4,217,438.

6. AMOUNTS WRITTEN OFF INVESTMENTS
31.3.24 31.3.23
£    £   
Amounts w/o invs 332,242 -

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Other loan interest payable 45,160 50,401

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 155,293 109,476

Deferred tax (3,099 ) 141,379
Tax on profit/(loss) 152,194 250,855

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit/(loss) before tax 423,120 (3,438,742 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

105,780

(859,686

)

Effects of:
Expenses not deductible for tax purposes 83,061 1,054,360
Income not taxable for tax purposes (4,716 ) -
Capital allowances in excess of depreciation - (57,683 )
Depreciation in excess of capital allowances 3,099 -
Utilisation of tax losses (31,931 ) -
Adjustments to tax charge in respect of previous periods - 5,363
Deferred tax (3,099 ) 141,379
Change in the rate of tax - (32,878 )
Total tax charge 152,194 250,855

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 31,836
Disposals (1,836 )
At 31 March 2024 30,000
AMORTISATION
Amortisation for year 6,000
At 31 March 2024 6,000
NET BOOK VALUE
At 31 March 2024 24,000
At 31 March 2023 31,836

10. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 5,948,749 1,039,043 40,573 7,028,365
Additions - 30,408 - 30,408
Disposals - (10,057 ) - (10,057 )
At 31 March 2024 5,948,749 1,059,394 40,573 7,048,716
DEPRECIATION
At 1 April 2023 - 643,498 14,752 658,250
Charge for year - 63,621 6,455 70,076
Eliminated on disposal - (8,019 ) - (8,019 )
At 31 March 2024 - 699,100 21,207 720,307
NET BOOK VALUE
At 31 March 2024 5,948,749 360,294 19,366 6,328,409
At 31 March 2023 5,948,749 395,545 25,821 6,370,115

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 332,242
PROVISIONS
Provision for year 332,242
At 31 March 2024 332,242
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 332,242

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Kitchen Dresser Company Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 1 30,970
(Loss)/profit for the year (12,108 ) 18,804

12. STOCKS
31.3.24 31.3.23
£    £   
Stocks 406,175 354,916

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 50,611 6,473
Other debtors 34,895 29,459
Prepayments and accrued income 41,632 23,021
127,138 58,953

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 550,148 609,665
Amounts owed to group undertakings 1 25,001
Tax 155,293 103,941
Social security and other taxes 17,180 16,492
VAT 174,679 126,385
Other creditors 569,472 562,226
Accruals and deferred income 182,935 104,590
1,649,708 1,548,300

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 2,868,737 3,803,057

16. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 410,972 414,071

Deferred
tax
£   
Balance at 1 April 2023 414,071
Charge (released) during year (3,099 )
Balance at 31 March 2024 410,972

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
666 Ordinary £1 666 666

18. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 2,291,418 333 2,291,751
Profit for the year 270,926 270,926
At 31 March 2024 2,562,344 333 2,562,677

TWEEDMILL FACTORY SHOPPING LIMITED (REGISTERED NUMBER: 02840101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


19. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Key management personnel include all statutory directors who together have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel amounted to £70,246 (2023: £66,565).

20. ULTIMATE CONTROLLING PARTY

The controlling party is DDFI Limited.

The ultimate controlling party is R J Booth.

21. GENERAL INFORMATION

Tweedmill Factory Shopping Limited is a limited company incorporated in England. Its registered office address is disclosed on page 1. The principal activity is that of a retailer. The financial statements are presented in Sterling, which is also the functional currency of the Company.