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Registered number: 02488048









Cha Textiles Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2024

 
Cha Textiles Limited
Registered number: 02488048

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
16,223,644
16,078,054

Cash at bank and in hand
 5 
10,907
9,150

  
16,234,551
16,087,204

Creditors: amounts falling due within one year
 6 
(540)
(9,641)

Net current assets
  
 
 
16,234,011
 
 
16,077,563

Total assets less current liabilities
  
16,234,011
16,077,563

  

Net assets
  
16,234,011
16,077,563


Capital and reserves
  

Called up share capital 
  
2,615,194
2,615,194

Share premium account
  
15,178,806
15,178,806

Profit and loss account
  
(1,559,989)
(1,716,437)

  
16,234,011
16,077,563


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: 




................................................
T Moussa
Director

Date: 17 June 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

The Company is a private company limited by shares. The Company is incorporated in the United Kingdom and
registered in England and Wales, registered number 02488048. The registered office is Pannone Corporate Llp 378 - 380, Deansgate, Manchester, United Kingdom, M3 4LY.
 
The principal activity of the Company continued to be a textile design studio and manufacturers' agents.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue comprises recharges to related entities of expenditure incurred on their behalf and is recognised in the same period in which the expenditure is incurred.

 
2.4

Interest income

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

Page 2

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
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

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
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.
Page 3

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of
Page 4

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 5

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
16,223,405
16,077,637

Other debtors
99
138

Prepayments
140
279

16,223,644
16,078,054


Amounts due from group undertakings are repayable on demand, unsecured and bear interest at 1%.


5.


Cash

2024
2023
£
£

Cash at bank and in hand
10,907
9,150



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
540
241

Accruals
-
9,400

540
9,641


Amounts due to group undertakings are repayable on demand, unsecured and bear no interest.

Page 6

 
Cha Textiles Limited
 
 
 
Notes to the financial statements
For the year ended 31 December 2024

7.


Related party transactions

The Company has taken advantage of the exemption under FRS 102 not to provide information on the related party transactions with other wholly owned undertakings within the Cha Technologies Group Limited.


8.


Controlling party

The immediate holding company is Cha Technologies Group Ltd, a company registered in England and Wales. The ultimate parent company is CCM Trust (Cayman) Ltd, a company incorporated in the Cayman Islands. Cha Technologies Group Limited is the largest group of companies into which the Company's results are consolidated where the financial statements are available to the public. Copies of the consolidated financial statements of Cha
Technologies Limited may be obtained from the Registrar of Companies at Crown Way, Cardiff, CF14 3UZ.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 17 June 2025 by Chris Stewardson (senior statutory auditor) on behalf of Hurst Accountants Limited.

 
Page 7