Company registration number 05675801 (England and Wales)
Textureblast Limited
financial statements
For the period ended 31 March 2025
Textureblast Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 9
Textureblast Limited
Statement of financial position
As at 31 March 2025
31 March 2025
- 1 -
31 March 2025
31 January 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,196,568
1,082,832
Current assets
Stocks
34,004
10,972
Debtors falling due after more than one year
5
1,767,987
1,383,402
Debtors falling due within one year
5
1,337,005
1,094,784
Cash at bank and in hand
1,051,639
574,754
4,190,635
3,063,912
Creditors: amounts falling due within one year
6
(590,362)
(477,049)
Net current assets
3,600,273
2,586,863
Total assets less current liabilities
4,796,841
3,669,695
Provisions for liabilities
(177,642)
(115,403)
Net assets
4,619,199
3,554,292
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
4,619,099
3,554,192
Total equity
4,619,199
3,554,292
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 August 2025 and are signed on its behalf by:
Mr N Johnson
Director
Company registration number 05675801 (England and Wales)
Textureblast Limited
Notes to the financial statements
For the period ended 31 March 2025
- 2 -
1
Accounting policies
Company information
Textureblast Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tremayne House, Westpark, Chelston, Wellington, Somerset, TA21 9AD.
Basis of preparation
The financial statements are prepared on a going concern basis, under the historical cost convention.
The preparation of financial statements in conformity with FRS102 requires the use of certain accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies.
1.1
Reporting period
The financial statements presented are for a period of 14 months rather than 12 months in order to align the period end more appropriately with internal business processes and external customers fiscal years. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable as a result.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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 other group entities where the relationship is one of being wholly owned.
1.3
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
Plant and equipment
10% on cost
Motor vehicles
6.67% to 33.33% on cost
Assets in the course of construction are not depreciated.
On 1 March 2024, the group changed depreciation rates to those noted above. The depreciation rates listed below are those used in the prior period:
Freehold property 2% on cost
Plant and equipment 20% to 25% on a reducing balance basis
Motor vehicles 35% on a reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Recoverable amount is the higher of fair value less costs to sell and value in use.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and at bank.
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.9
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, loans from group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans to fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is only recognised as an accrual at the end of each statutory financial period.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.15
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 6 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
In the directors' opinion there are no critical judgements that they have made in applying the company's accounting policies and that have had a significant effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
The directors do not consider there to be any key estimates or assumptions used in preparing the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2024
Number
Number
Total
10
10
4
Tangible fixed assets
Freehold land and buildings
Assets under construction
Plant and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
43,123
2,271,438
175,877
2,490,438
Additions
336,324
5,641
341,965
Disposals
(412,659)
(412,659)
Transfer
(2,054,384)
2,054,384
At 31 March 2025
43,123
336,324
217,054
1,823,243
2,419,744
Depreciation and impairment
At 1 February 2024
1,294
1,270,188
136,124
1,407,606
Depreciation charged in the period
898
24,584
158,866
184,348
Eliminated in respect of disposals
(368,778)
(368,778)
Transfer
(1,122,701)
1,122,701
At 31 March 2025
2,192
172,071
1,048,913
1,223,176
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
4
Tangible fixed assets
Freehold land and buildings
Assets under construction
Plant and equipment
Motor vehicles
Total
£
£
£
£
£
(Continued)
- 7 -
Carrying amount
At 31 March 2025
40,931
336,324
44,983
774,330
1,196,568
At 31 January 2024
41,829
1,001,250
39,753
1,082,832
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,017,755
794,339
Corporation tax recoverable
220,214
Amounts owed by group undertakings
192,739
68,871
Other debtors
118,389
6,474
Prepayments and accrued income
8,122
4,886
1,337,005
1,094,784
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
1,767,987
1,383,402
Total debtors
3,104,992
2,478,186
Amounts owed by group undertakings due after more than one year are due between 1 and 2 years. The amounts are unsecured and interest free (2024 - interest receivable at 2.5%).
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
9,672
Trade creditors
283,783
342,346
Amounts owed to group undertakings
168,628
39,038
Corporation tax
17,091
Other taxation and social security
18,456
30,832
Other creditors
52,731
27,398
Accruals and deferred income
49,673
27,763
590,362
477,049
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
6
Creditors: amounts falling due within one year
(Continued)
- 8 -
The hire purchase contracts are secured against the assets financed.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Gary Chadwick FCCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
7 August 2025
8
Financial commitments, guarantees and contingent liabilities
At the balance sheet date, the company had guaranteed borrowings of a parent company, all charges being managed by a security agent. At 31 March 2025 these borrowings amounted to £63,281,847 (2024 - £59,555,121). As at the date of approval of these financial statements, the directors do not anticipate that the guarantees will be called upon.
9
Capital commitments
Amounts contracted for but not provided in the financial statements:
2025
2024
£
£
Acquisition of tangible fixed assets
624,602
-
Textureblast Limited
Notes to the financial statements (continued)
For the period ended 31 March 2025
- 9 -
10
Parent company
The immediate parent company is WJ (Group) Limited which owns 100% of the ordinary share capital. WJ (Group) Limited is incorporated in England and the registered office is Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, ST5 6AZ.
The ultimate controlling party is the THI Holdings GmbH. a company registered in Germany. THI Holdings GmbH is controlled by the Hagenmeyer family.
The smallest group into which the entity is consolidated is WJ Group Holdings Limited. WJ Group Holdings Limited is incorporated in England. Copies of the group financial statements of WJ Group Holdings Limited are available from Unit 7 Brock Way, Newcastle under Lyme, Staffordshire, United Kingdom, ST5 6AZ.
The largest group into which the entity is consolidated is THI Holdings GmbH, a company registered in Germany. Copies of the group financial statements of THI Holdings GmbH are available from THI Investments, Eberhardstraße 65, 70173 Stuttgart, Germany.