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REGISTERED NUMBER: 02798352 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Masons Textiles Limited

Masons Textiles Limited (Registered number: 02798352)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Masons Textiles Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: A D Peden
Mrs M M Peden





SECRETARY: Mrs M M Peden





REGISTERED OFFICE: Cricketers Close
Carleton New Road
Skipton
North Yorkshire
BD23 2AZ





REGISTERED NUMBER: 02798352 (England and Wales)





ACCOUNTANTS: Baker Fox Limited
Chartered Accountants
Owl Cotes Barn
Low Lane
Cowling
Keighley
West Yorkshire
BD22 0LE

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Masons Textiles Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Masons Textiles Limited for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Masons Textiles Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Masons Textiles Limited and state those matters that we have agreed to state to the Board of Directors of Masons Textiles Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masons Textiles Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Masons Textiles Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Masons Textiles Limited. You consider that Masons Textiles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Masons Textiles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Baker Fox Limited
Chartered Accountants
Owl Cotes Barn
Low Lane
Cowling
Keighley
West Yorkshire
BD22 0LE


4 June 2025

Masons Textiles Limited (Registered number: 02798352)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,614,526 1,644,217
Investments 6 92,402 173,352
1,706,928 1,817,569

CURRENT ASSETS
Stocks 222,148 226,946
Debtors 7 322,882 328,437
Investments 8 - 350,000
Cash at bank and in hand 1,534,944 1,071,412
2,079,974 1,976,795
CREDITORS
Amounts falling due within one year 9 153,856 158,968
NET CURRENT ASSETS 1,926,118 1,817,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,633,046

3,635,396

PROVISIONS FOR LIABILITIES 130,596 138,019
NET ASSETS 3,502,450 3,497,377

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 10 1,089,447 1,089,447
Retained earnings 2,383,003 2,377,930
SHAREHOLDERS' FUNDS 3,502,450 3,497,377

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

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

Masons Textiles Limited (Registered number: 02798352)

Statement of Financial Position - continued
30 September 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 Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





A D Peden - Director


Masons Textiles Limited (Registered number: 02798352)

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

1. STATUTORY INFORMATION

Masons 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Masons Textiles Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty 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.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance, 25% on cost, 20% on cost, 15% on reducing balance, 10% on cost and at varying rates on cost

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 items.

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 statement of financial position date.


Masons Textiles Limited (Registered number: 02798352)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Investment in limited partnerships
The company's share of divided profits in limited partnerships is recognised in the profit and loss account on a receivable basis. The company's investment is stated at cost less any provisions.

Leasing contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 619,832
AMORTISATION
At 1 October 2023
and 30 September 2024 619,832
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Masons Textiles Limited (Registered number: 02798352)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 1,475,000 1,993,229 3,468,229
Additions - 2,130 2,130
At 30 September 2024 1,475,000 1,995,359 3,470,359
DEPRECIATION
At 1 October 2023 - 1,824,012 1,824,012
Charge for year - 31,821 31,821
At 30 September 2024 - 1,855,833 1,855,833
NET BOOK VALUE
At 30 September 2024 1,475,000 139,526 1,614,526
At 30 September 2023 1,475,000 169,217 1,644,217

Included in cost or valuation of land and buildings is freehold land of £ 350,000 (2023 - £ 350,000 ) which is not depreciated.

Cost or valuation at 30 September 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 360,000 - 360,000
Valuation in 2017 1,115,000 - 1,115,000
Cost - 1,995,359 1,995,359
1,475,000 1,995,359 3,470,359

If freehold land and building had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 598,630 598,630
Aggregate depreciation 289,713 279,393

Value of land in freehold land and buildings 83,495 83,495

Freehold land and buildings were valued on an existing use basis on 29 July 2022 by Hayfield Robinson - Property Consultants .

Masons Textiles Limited (Registered number: 02798352)

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

6. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 1,049,749 100,950 1,150,699
PROVISIONS
At 1 October 2023 977,347 - 977,347

Impairments - 80,950 80,950
At 30 September 2024 977,347 80,950 1,058,297
NET BOOK VALUE
At 30 September 2024 72,402 20,000 92,402
At 30 September 2023 72,402 100,950 173,352

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 282,742 281,588
Other debtors 40,140 46,849
322,882 328,437

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments - 350,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 45,926 79,821
Amounts owed to group undertakings 16 16
Taxation and social security 71,007 51,769
Other creditors 36,907 27,362
153,856 158,968

Masons Textiles Limited (Registered number: 02798352)

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

10. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 1,089,447

11. OTHER FINANCIAL COMMITMENTS

At 30th September 2024 the company had no annual commitments under non-cancellable operating leases in respect of land and buildings (2023: £5,950 within one year).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company occupied certain premises owned by a small self administered pension scheme of which the director is a trustee and potential beneficiary. The lease was for a rolling one year period with a normal commercial rent payable amounting to £17,000 (2023: £17,000). No amounts were outstanding at the balance sheet date. The lease was ended in January 2024.

13. ULTIMATE CONTROLLING PARTY

The controlling party is A D Peden.