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Registered number: 13050087









INTELLIGENT TEXTILES GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
INTELLIGENT TEXTILES GROUP LIMITED
REGISTERED NUMBER: 13050087

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
2
2

Cash at bank and in hand
 6 
1,021,361
1,008,875

  
1,021,363
1,008,877

Creditors: amounts falling due within one year
 7 
(201)
(5,002)

Net current assets
  
 
 
1,021,162
 
 
1,003,875

Total assets less current liabilities
  
1,021,164
1,003,877

  

Net assets
  
1,021,164
1,003,877


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,021,162
1,003,875

  
1,021,164
1,003,877


Page 1

 
INTELLIGENT TEXTILES GROUP LIMITED
REGISTERED NUMBER: 13050087
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Dr S S Swallow
Director

Date: 27 June 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
INTELLIGENT TEXTILES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Intelligent Textiles Group Limited is a private company, limited by shares and registered in England and Wales. The address of the registered office is C/O Hillier Hopkins LLP, First Floor, Radius House, 51 Clarendon Road, Watford, United Kingdom, WD17 1HP.
The principal activity of the company is that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Exemption from  preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
INTELLIGENT TEXTILES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
2



At 30 September 2024
2





5.


Debtors

2024
2023
£
£


Called up share capital not paid
2
2

2
2



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,021,361
1,008,875

1,021,361
1,008,875


Page 4

 
INTELLIGENT TEXTILES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
199
5,000

Other creditors
2
2

201
5,002



8.


Controlling party

The controlling parties of the company are the directors by virtue of their equal shareholdings.

 
Page 5