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Registration number: 04421603

Colltex Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Colltex Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Colltex Limited

Company Information

Director

HL Smith

Registered office

1054 Manchester Road
Linthwaite
Huddersfield
HD7 5QQ

 

Colltex Limited

(Registration number: 04421603)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

220,918

228,721

Current assets

 

Debtors

6

806,517

1,050,164

Cash at bank and in hand

 

195,141

141,821

 

1,001,658

1,191,985

Creditors: Amounts falling due within one year

7

(158,429)

(215,032)

Net current assets

 

843,229

976,953

Total assets less current liabilities

 

1,064,147

1,205,674

Creditors: Amounts falling due after more than one year

7

(18,852)

(35,209)

Provisions for liabilities

(53,527)

(55,177)

Net assets

 

991,768

1,115,288

Capital and reserves

 

Called up share capital

2

2

Retained earnings

991,766

1,115,286

Shareholders' funds

 

991,768

1,115,288

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Colltex Limited

(Registration number: 04421603)
Balance Sheet as at 31 January 2025

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 June 2025
 

.........................................
HL Smith
Director

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1054 Manchester Road
Linthwaite
Huddersfield
HD7 5QQ
England

These financial statements were authorised for issue by the director on 5 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Fixtures and fittings

20% on straight line

Motor vehicles

25% on reducing balance

Computer equipment

20% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2024 - 21).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

58,000

58,000

At 31 January 2025

58,000

58,000

Amortisation

At 1 February 2024

58,000

58,000

At 31 January 2025

58,000

58,000

Carrying amount

At 31 January 2025

-

-

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2024

5,702

123,688

4,101

654,595

Additions

-

1,534

-

60,272

Disposals

-

-

-

(16,950)

At 31 January 2025

5,702

125,222

4,101

697,917

Depreciation

At 1 February 2024

3,332

58,666

1,371

495,996

Charge for the year

1,140

9,983

546

53,643

Eliminated on disposal

-

-

-

(12,653)

At 31 January 2025

4,472

68,649

1,917

536,986

Carrying amount

At 31 January 2025

1,230

56,573

2,184

160,931

At 31 January 2024

2,370

65,022

2,730

158,599

Total
£

Cost or valuation

At 1 February 2024

788,086

Additions

61,806

Disposals

(16,950)

At 31 January 2025

832,942

Depreciation

At 1 February 2024

559,365

Charge for the year

65,312

Eliminated on disposal

(12,653)

At 31 January 2025

612,024

Carrying amount

At 31 January 2025

220,918

At 31 January 2024

228,721

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

169,540

130,997

Amounts owed by related parties

9

560,831

640,000

Prepayments

 

6,429

2,929

Other debtors

 

69,717

276,238

   

806,517

1,050,164

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

17,500

17,100

Trade creditors

 

31,553

23,168

Taxation and social security

 

92,332

116,591

Accruals and deferred income

 

4,270

46,005

Other creditors

 

12,774

12,168

 

158,429

215,032

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

18,852

35,209

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

18,852

35,209

Current loans and borrowings

2025
£

2024
£

Bank borrowings

17,500

17,100

 

Colltex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Related party transactions

Transactions with the director

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

HL Smith

Interest on the overdrawn directors loan account is charged at 2.25% p.a

133,715

-

(133,715)

-

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

HL Smith

Interest on the overdrawn directors loan account is charged at 2.25% p.a

84,825

152,140

(103,250)

133,715

Summary of transactions with parent

Colltex Fox Holdings Limited Parent company

Loans to related parties

2025

Parent
£

Total
£

At start of period

640,000

640,000

Advanced

305,831

305,831

Repaid

(385,000)

(385,000)

At end of period

560,831

560,831

2024

Parent
£

Total
£

Advanced

1,220,000

1,220,000

Repaid

(580,000)

(580,000)

At end of period

640,000

640,000