ACP Textile (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08818126 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

ACP TEXTILE (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Pandya

REGISTERED OFFICE:

41 St. Thomas's Road

Chorley

PR7 1JE

REGISTERED NUMBER:

08818126 (England and Wales)

ACCOUNTANTS:

BK Plus - Chorley

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

1,860

2,030

1,860

2,030

CURRENT ASSETS

Stocks

196,803

306,520

Debtors

6

114,806

144,030

Cash in hand

100

58

311,709

450,608

CREDITORS

Amounts falling due within one year

7

289,321

359,578

NET CURRENT ASSETS

22,388

91,030

TOTAL ASSETS LESS CURRENT
LIABILITIES

24,248

93,060

CREDITORS

Amounts falling due after more than one
year

8

(23,423

)

(87,665

)

PROVISIONS FOR LIABILITIES

(353

)

(386

)

NET ASSETS

472

5,009

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

372

4,909

SHAREHOLDERS' FUNDS

472

5,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th September 2025 and were signed by:

Mr A Pandya - Director

1.	STATUTORY INFORMATION

ACP Textile (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Trademark

Trademarks acquired are initially recognised at cost and are subsequently carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is then applied to the profit and loss account using the straightline method over 5 years, this is the shorter of their estimated useful lives and periods of contractual rights.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.3% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1st January 2024

and 31st December 2024

1,105

AMORTISATION

At 1st January 2024

and 31st December 2024

1,105

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1st January 2024

190

4,640

4,830

Additions

-

1,355

Disposals

-

(1,917

)

(1,917

)

At 31st December 2024

190

4,078

4,268

DEPRECIATION

At 1st January 2024

190

2,610

2,800

Charge for year

-

689

Eliminated on disposal

-

(1,081

)

(1,081

)

At 31st December 2024

190

2,218

2,408

NET BOOK VALUE

At 31st December 2024

-

1,860

At 31st December 2023

-

2,030

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

58,094

63,838

Other debtors

9,562

5,925

Directors' current accounts

46,223

73,948

Prepayments

927

319

114,806

144,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

32,654

19,370

Other loans

52,971

48,476

Trade creditors

85,551

170,648

Tax

2,324

3,196

VAT

37,343

27,358

Other creditors

58,076

73,707

Credit card

6,081

2,674

Accrued expenses

14,321

14,149

289,321

359,578

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

4,696

11,271

Bank loans - 2-5 years

-

4,696

Other loans - 1-2 years

18,727

52,971

Other loans - 2-5 years

-

18,727

23,423

87,665

9.	SECURED DEBTS

On 12 December 2017 the company's bank registered a floating charge, which covers all property or undertaking of the company.

The bank loan relates to the government backed Bounce Back Loan.

The other loan relates to the government backed recovery loan scheme.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary

£1

100

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

31.12.24

31.12.23

£

Mr A Pandya

Balance outstanding at start of year

73,948

52,467

Amounts advanced

94,803

89,580

Amounts repaid

(122,528

)

(68,099

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

46,223

73,948

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Pandya.