Registration number: 02082564

Tex Automotive Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Tex Automotive Limited

Company Information

Directors	G Payne N A Aldred

Registered office

Cotswold Business Park Range Road Witney Oxfordshire OX29 0YB

Accountants

Sable & Argent Limited 2 Elvetham Crescent Fleet Hampshire GU51 1BU

Tex Automotive Limited

(Registration number: 02082564)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	3,514	11,196
Tangible assets	5	22,986	17,753
		26,500	28,949
Current assets
Stocks	6	470,521	523,480
Debtors	7	62,289	98,481
Cash at bank and in hand		42,696	44,726
		575,506	666,687
Creditors: Amounts falling due within one year	8	(546,135)	(671,341)
Net current assets/(liabilities)		29,371	(4,654)
Net assets		55,871	24,295
Capital and reserves
Called up share capital	9	100	100
Retained earnings		55,771	24,195
Shareholders' funds		55,871	24,295

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

G Payne Director

Tex Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Cotswold Business Park
Range Road
Witney
Oxfordshire
OX29 0YB

These financial statements were authorised for issue by the Board on 18 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Tex Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Plant and machinery	33% p.a. straight line
Fixtures and fittings	20% p.a. straight line
Tools and equipment	5% p.a., straight line

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulatd impairment losses.

At each reporting date the company assesses whether there is any indication of impairment., If such indication exists the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estinate of the useful life cannot be made the useful life shall not exceed ten years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	33% p.a. straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Tex Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and inbestments in ordinary shares.
 

3	Staff numbers

The average number of persons (including directors) employed by the company in the year, was 5 (2023: 5).

Tex Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Website  £	Total £
Cost or valuation
At 1 January 2024	29,080	29,080
Additions acquired separately	2,220	2,220
At 31 December 2024	31,300	31,300
Amortisation
At 1 January 2024	17,884	17,884
Amortisation charge	9,902	9,902
At 31 December 2024	27,786	27,786
Carrying amount
At 31 December 2024	3,514	3,514
At 31 December 2023	11,196	11,196

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2023: £591).
 

5	Tangible assets

	Fixtures, fittings, tools and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	183,512	108,679	292,191
Additions	6,055	-	6,055
At 31 December 2024	189,567	108,679	298,246
Depreciation
At 1 January 2024	165,759	108,679	274,438
Charge for the year	822	-	822
At 31 December 2024	166,581	108,679	275,260
Carrying amount
At 31 December 2024	22,986	-	22,986
At 31 December 2023	17,753	-	17,753

Tex Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Other inventories	470,521	523,480

7

Debtors

Current	2024 £	2023 £
Trade debtors	49,336	56,174
Other debtors	12,953	42,307
	62,289	98,481

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		8,324	12,655
Amounts owed to group undertakings		485,859	539,153
Taxation and social security		15,328	2,409
Accruals and deferred income		20,192	33,447
Other creditors		16,432	83,677
		546,135	671,341

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100