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REGISTERED NUMBER: 05104962 (England and Wales)








REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

DAYLIGHT GRIP & TEXTILES LTD

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


DAYLIGHT GRIP & TEXTILES LTD

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: Mr P J Leonard



SECRETARY: Mrs C Shaoul-Leonard



REGISTERED OFFICE: Britannic House
657 Liverpool Road
Irlam
Manchester
M44 5XD



BUSINESS ADDRESS: Unit 4 Agecroft Network Centre
Lamplight Way
Prestwich
Manchester
Greater Manchester
M27 8UJ



REGISTERED NUMBER: 05104962 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: HSBC Bank Plc
4 Hardman Square
Spinningfields
Manchester

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

REPORT OF THE DIRECTOR
for the Year Ended 31 October 2024

The director presents his report with the financial statements of the company for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture and supply of specialist textile products to the film and photographic sectors.

DIRECTORS
Mr P J Leonard has held office during the whole of the period from 1 November 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr D B Leonard ceased to be a director after 31 October 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr D B Leonard - Director


27 November 2024

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 150,310 164,280

CURRENT ASSETS
Stocks 199,593 203,608
Debtors 5 184,867 184,401
Cash at bank and in hand 419,614 526,524
804,074 914,533
CREDITORS
Amounts falling due within one year 6 (568,260 ) (238,060 )
NET CURRENT ASSETS 235,814 676,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,124

840,753

CREDITORS
Amounts falling due after more than one
year

7

(5,872

)

(15,968

)

PROVISIONS FOR LIABILITIES (37,577 ) (41,070 )
NET ASSETS 342,675 783,715

CAPITAL AND RESERVES
Called up share capital 8 26 52
Retained earnings 342,649 783,663
SHAREHOLDERS' FUNDS 342,675 783,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

BALANCE SHEET - continued
31 October 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 director and authorised for issue on 27 November 2024 and were signed by:





Mr D B Leonard - Director


DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Daylight Grip & 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.

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 - 25% on reducing balance
Office equipment - 25% on cost
Furniture and equipment - 25% 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.

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.

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.

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Furniture
Plant and Office and
machinery equipment equipment Totals
£    £    £    £   
COST
At 1 November 2023 215,197 23,268 73,176 311,641
Additions 10,829 1,908 690 13,427
At 31 October 2024 226,026 25,176 73,866 325,068
DEPRECIATION
At 1 November 2023 66,930 21,950 58,481 147,361
Charge for year 20,569 981 5,847 27,397
At 31 October 2024 87,499 22,931 64,328 174,758
NET BOOK VALUE
At 31 October 2024 138,527 2,245 9,538 150,310
At 31 October 2023 148,267 1,318 14,695 164,280

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 171,697 155,042
Other debtors 13,170 29,359
184,867 184,401

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 103,548 103,115
Taxation and social security 89,813 102,389
Other creditors 364,251 21,908
568,260 238,060

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 5,872 15,968

DAYLIGHT GRIP & TEXTILES LTD (REGISTERED NUMBER: 05104962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

8. CALLED UP SHARE CAPITAL

During the year, the company purchased and subsequently cancelled the shares held by Mr D.B. Leonard and Mrs D. Leonard in accordance with the provisions of the Companies Act 2006. The buyback was fully funded from distributable reserves and all necessary approvals and filings were duly completed. As a result, the total number of issued shares has reduced accordingly.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
Mr P J Leonard
Balance outstanding at start of year 10,000 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

Mr D B Leonard
Balance outstanding at start of year 10,000 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P J Leonard.