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Registered number: 03271162
Quality Textures Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03271162
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 280,901 192,411
280,901 192,411
CURRENT ASSETS
Stocks 5 243,550 229,339
Debtors 6 400,510 431,199
Cash at bank and in hand 45,591 251,577
689,651 912,115
Creditors: Amounts Falling Due Within One Year 7 (351,121 ) (493,456 )
NET CURRENT ASSETS (LIABILITIES) 338,530 418,659
TOTAL ASSETS LESS CURRENT LIABILITIES 619,431 611,070
Creditors: Amounts Falling Due After More Than One Year 8 (110,704 ) (67,736 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,360 ) (2,360 )
NET ASSETS 506,367 540,974
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 506,267 540,874
SHAREHOLDERS' FUNDS 506,367 540,974
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Hewish
Director
01/10/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Quality Textures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03271162 . The registered office is The Old Barn, Wood Street, Swanley, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 8)
8 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 25,015 418,309 4,250 7,871 455,445
Additions - 248,741 268 - 249,009
Disposals - (178,158 ) - - (178,158 )
As at 31 March 2025 25,015 488,892 4,518 7,871 526,296
Depreciation
As at 1 April 2024 23,503 233,265 2,647 3,619 263,034
Provided during the period 379 91,581 - 638 92,598
Disposals - (110,705 ) 468 - (110,237 )
As at 31 March 2025 23,882 214,141 3,115 4,257 245,395
Net Book Value
As at 31 March 2025 1,133 274,751 1,403 3,614 280,901
As at 1 April 2024 1,512 185,044 1,603 4,252 192,411
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5. Stocks
2025 2024
£ £
Stock 39,332 -
Work in progress 204,218 229,339
243,550 229,339
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 230,362 245,805
Prepayments and accrued income 625 781
Other debtors 4,150 8,050
Inter company account 47,458 76,000
VAT 81,818 69,716
Director's loan account 36,097 30,847
400,510 431,199
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 68,781 60,794
Trade creditors 148,519 210,062
Bank loans and overdrafts 3,125 34,770
Corporation tax 57,333 46,997
Other taxes and social security 19,291 10,619
Other creditors 5,868 84,486
Accruals and deferred income 48,204 45,728
351,121 493,456
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 110,704 67,736
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 68,781 60,794
Later than one year and not later than five years 110,704 67,736
179,485 128,530
179,485 128,530
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Included in the Other Debtors is an amount owed from K & J Building Contractors Ltd totalling £47,458 (2024 - £76,000), for which Mr M Hewish is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Debtors is an amount of £36,097 (2024 - £30,847) owed from the directors Mr & Mrs Hewish, no interest is to be charged. 
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