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Company Registration No. 03587155 (England and Wales)
THE TEX SERVICES GROUP LTD Unaudited accounts for the year ended 31 October 2024
THE TEX SERVICES GROUP LTD Unaudited accounts Contents
Page
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THE TEX SERVICES GROUP LTD Company Information for the year ended 31 October 2024
Directors
A Exley M Exley
Company Number
03587155 (England and Wales)
Registered Office
Unit 2-3 Junction 30 Business Park Ouzlewell Green Wakefield WF3 3QW United Kingdom
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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THE TEX SERVICES GROUP LTD Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
840,935 
382,678 
Investment property
450,000 
380,000 
1,290,935 
762,678 
Current assets
Inventories
405,000 
364,750 
Debtors
1,194,433 
1,075,769 
Cash at bank and in hand
855,078 
831,123 
2,454,511 
2,271,642 
Creditors: amounts falling due within one year
(850,888)
(768,420)
Net current assets
1,603,623 
1,503,222 
Total assets less current liabilities
2,894,558 
2,265,900 
Creditors: amounts falling due after more than one year
(1,111,346)
(914,065)
Provisions for liabilities
Deferred tax
(158,435)
(41,753)
Net assets
1,624,777 
1,310,082 
Capital and reserves
Called up share capital
250 
250 
Revaluation reserve
70,000 
- 
Profit and loss account
1,554,527 
1,309,832 
Shareholders' funds
1,624,777 
1,310,082 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by
A Exley Director Company Registration No. 03587155
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
THE TEX SERVICES GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 03587155. The registered office is Unit 2-3, Junction 30 Business Park, Ouzlewell Green, Wakefield, WF3 3QW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on a reducing balance
Motor vehicles
25% on a reducing balance
Computer equipment
30% on a reducing balance
Investment properties
Investment properties is included at fair market value. Gains/(losses) on the revaluation are recognised in the income statement. Deferred taxation is provided on these gains/(losses) at the rate expected to apply when the property is sold. The carrying value is based on the directors' valuations as at the year end.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2023
406,280 
763,613 
31,884 
1,201,777 
Additions
15,877 
628,561 
- 
644,438 
Disposals
- 
(58,500)
- 
(58,500)
At 31 October 2024
422,157 
1,333,674 
31,884 
1,787,715 
Depreciation
At 1 November 2023
223,452 
574,840 
20,807 
819,099 
Charge for the year
39,741 
104,727 
3,323 
147,791 
On disposals
- 
(20,110)
- 
(20,110)
At 31 October 2024
263,193 
659,457 
24,130 
946,780 
Net book value
At 31 October 2024
158,964 
674,217 
7,754 
840,935 
At 31 October 2023
182,828 
188,773 
11,077 
382,678 
5
Investment property
2024 
£ 
Fair value at 1 November 2023
380,000 
Net gain from fair value adjustments
70,000 
At 31 October 2024
450,000 
The director has stated that the current market value of the property is £450,000 (2023 : £380,000) as at the period end. The valuation has not been verified by a professional valuer.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,022,766 
914,937 
Accrued income and prepayments
31,404 
20,569 
Other debtors
140,263 
140,263 
1,194,433 
1,075,769 
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THE TEX SERVICES GROUP LTD Notes to the Accounts for the year ended 31 October 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
42,756 
42,756 
VAT
166,589 
164,743 
Obligations under finance leases and hire purchase contracts
224,623 
57,284 
Trade creditors
265,814 
323,460 
Taxes and social security
61,365 
149,221 
Other creditors
73,366 
25,631 
Accruals
6,975 
5,325 
Deferred income
9,400 
- 
850,888 
768,420 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
683,480 
768,992 
Obligations under finance leases and hire purchase contracts
427,866 
145,073 
1,111,346 
914,065 
The loans are secured over properties held by the director and also the investment property held by the company.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares A of £1 each
50 
50 
100 Ordinary shares B of £1 each
100 
100 
100 Ordinary shares C of £1 each
100 
100 
250 
250 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
A Exley
Loan
140,263 
- 
- 
140,263 
140,263 
- 
- 
140,263 
The loan will be repaid in full within 9 months of the year end 31 October 2024.
11
Transactions with related parties
The company rents premises that is owned by the director. During the period, rent was charged of £38,500 (2023 - £42,000). The amount of rent is determined on the open market valuations.
12
Average number of employees
During the year the average number of employees was 40 (2023: 47).
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