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REGISTERED NUMBER: 02816943 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

NAISH FELTS LIMITED

NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NAISH FELTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: G D Naish
D J Legatti





REGISTERED OFFICE: Crow Lane
Wilton
Salisbury
SP2 0HB





REGISTERED NUMBER: 02816943 (England and Wales)





AUDITORS: Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 9,669 9,622

CURRENT ASSETS
Stocks 260,528 205,740
Debtors 5 524,919 1,094,890
Cash at bank and in hand 152,427 206,829
937,874 1,507,459
CREDITORS
Amounts falling due within one year 6 409,358 321,850
NET CURRENT ASSETS 528,516 1,185,609
TOTAL ASSETS LESS CURRENT LIABILITIES 538,185 1,195,231

CREDITORS
Amounts falling due after more than one
year

7

-

(660,764

)

PROVISIONS FOR LIABILITIES (1,159 ) (1,001 )
NET ASSETS 537,026 533,466

CAPITAL AND RESERVES
Called up share capital 9 200,000 200,000
Retained earnings 337,026 333,466
SHAREHOLDERS' FUNDS 537,026 533,466

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 Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





D J Legatti - Director


NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Naish Felts 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention and are presented in Sterling (£) which is the functional currency of the company.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point of despatch.

Tangible fixed assets
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. The capitalisation threshold is £1,000. Repair, renovation and replacement expenditure is written off as expenditure in the Income Statement. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33% on cost and 10% on cost
Fixtures and fittings - 50% on cost and 10% on cost
Vehicles and bikes - straight line over 5 years
Computer equipment - 33% on cost

Stocks and work in progress
Stocks are valued at the lower of cost, being the purchase price and net realisable value, after making due allowance for obsolete and slow moving items. Net realisable value is based on estimated selling price less additional costs to completion.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
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 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.

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 the Income Statement in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Vehicles Computer
machinery fittings and bikes equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 417,882 38,403 2,631 101,080 559,996
Additions - - - 2,493 2,493
At 30 September 2024 417,882 38,403 2,631 103,573 562,489
DEPRECIATION
At 1 October 2023 409,770 36,893 2,631 101,080 550,374
Charge for year 1,272 783 - 391 2,446
At 30 September 2024 411,042 37,676 2,631 101,471 552,820
NET BOOK VALUE
At 30 September 2024 6,840 727 - 2,102 9,669
At 30 September 2023 8,112 1,510 - - 9,622

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125,254 213,788
Amounts owed by group undertakings 376,581 861,828
Corporation tax recoverable - 11,449
Prepayments and accrued income 23,084 7,825
524,919 1,094,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 121,780 116,833
Amounts owed to group undertakings 176,332 63,604
Corporation tax 677 2,733
Social security and other taxes 12,459 13,348
VAT 29,085 46,660
Other creditors 25,374 25,307
Accruals and deferred income 43,651 53,365
409,358 321,850

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 660,764

NAISH FELTS LIMITED (REGISTERED NUMBER: 02816943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

A market rate of interest is charged on the balance owed above.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,867 6,497
Between one and five years 10,988 -
13,855 6,497

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,000 Ordinary shares £1 200,000 200,000

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

The Report of the Auditors was unqualified.

Nicholas Jones FCCA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP

11. OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee of up to €95,000 against supplier payments in respect of its fellow group company, Naish Felts Bulgaria LLC.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions, provided by Section 33 of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.

13. ULTIMATE PARENT COMPANY

The company's ultimate parent company is E V Naish Limited, a company incorporated in England & Wales. The registered office address and principal place of business of E V Naish Limited is The Felt Mills, Crow Lane, Wilton, Salisbury SP2 0HD.