REGISTERED NUMBER: 00359637 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ANDANTEX LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B C Grandjean

P Spencer

Ms S Grandjean

REGISTERED OFFICE:

Unit 3B

Lythalls Lane Industrial Estate

Lythalls Lane

Coventry

West Midlands

CV6 6FL

REGISTERED NUMBER:

00359637 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Ashfield BA FCA

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

Lloyds Bank plc

Level 3, Citymark

150 Fountainbridge

Edinburgh

EH3 9PE

FIXED ASSETS

Tangible assets

4

7,067

28,277

Investments

5

863,729

516,295

870,796

544,572

CURRENT ASSETS

Stocks

153,947

230,577

Debtors

130,103

272,081

Cash at bank and in hand

401,361

575,240

685,411

1,077,898

CREDITORS

Amounts falling due within one year

395,629

477,925

NET CURRENT ASSETS

289,782

599,973

TOTAL ASSETS LESS CURRENT LIABILITIES

1,160,578

1,144,545

PROVISIONS FOR LIABILITIES

8

1,767

7,069

NET ASSETS

1,158,811

1,137,476

CAPITAL AND RESERVES

Called up share capital

51,000

51,000

Capital redemption reserve

18,000

18,000

Retained earnings

1,089,811

1,068,476

SHAREHOLDERS' FUNDS

1,158,811

1,137,476

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 March 2025 and were signed on its behalf by:

Ms S Grandjean - Director

1.	STATUTORY INFORMATION

Andantex 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

over the lease term

Plant and machinery

-

15% on reducing balance and Straight line over 5 years

Fixtures & fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

277,830

Additions

1,397

Disposals

(52,980

)

At 31 December 2024

226,247

DEPRECIATION

At 1 January 2024

249,553

Charge for year

5,465

Eliminated on disposal

(35,838

)

At 31 December 2024

219,180

NET BOOK VALUE

At 31 December 2024

7,067

At 31 December 2023

28,277

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2024

52,980

Disposals

(52,980

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

33,201

Charge for year

2,637

Eliminated on disposal

(35,838

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

19,779

Fixed assets, included in the above are held under finance lease contracts.

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

516,295

Additions

347,434

At 31 December 2024

863,729

NET BOOK VALUE

At 31 December 2024

863,729

At 31 December 2023

516,295

Fixed asset investments represent the company's holding of 27.03% (2023 - 10.89%) of the share capital of SECO SAS, a company incorporated in France.

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

£

Net obligations repayable:

Within one year

-

20,954

Non-cancellable

operating leases

2024

2023

£

£

Within one year

39,890

27,042

Between one and five years

61,577

51,791

101,467

78,833

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

20,954

The hire purchase contracts are secured on the assets concerned.

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

1,767

7,069

Deferred

tax

£

Balance at 1 January 2024

7,069

Credit to Income Statement during year

(5,302

)

Balance at 31 December 2024

1,767

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Ashfield BA FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

10.	PENSION COMMITMENTS

During the year under review the company made contributions of £21,714 (2023 - £19,674). As at the current year end, included within creditors are outstanding contributions totalling £210 (2023 - £602).

11.	ULTIMATE CONTROLLING PARTY

BG Holding (incorporated in France) is regarded by the directors as being the company's immediate and ultimate parent company.