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Registration number: 00643830

Tame Valley Padding Co. Limited
Unaudited Financial Statements
for the Year Ended 31 March 2025

Tame Valley Padding Co. Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 7

Tame Valley Padding Co. Limited

(Registration number: 00643830)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 437,907 | 320,161
Current assets |  |  |
Stocks |  | 607,189 | 562,742
Debtors | 5 | 1,915,109 | 2,133,768
Cash at bank and in hand |  | 96,141 | 70,524
|  | 2,618,439 | 2,767,034
Creditors: Amounts falling due within one year | 6 | (1,243,921) | (774,739)
Net current assets |  | 1,374,518 | 1,992,295
Total assets less current liabilities |  | 1,812,425 | 2,312,456
Provisions for liabilities |  | (104,748) | (61,998)
Net assets |  | 1,707,677 | 2,250,458
Capital and reserves |  |  |
Called up share capital |  | 30,400 | 30,400
Retained earnings |  | 1,677,277 | 2,220,058
Shareholders' funds |  | 1,707,677 | 2,250,458

For the financial 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.

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 and 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 Income Statement.

Approved and authorised by the Board on 7 October 2025 and signed on its behalf by:

Mr Michael Ernest Sciama Director |  |

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

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

The address of its registered office is:
Moss Rose Mill Springfield Road
Kearsley
Bolton
Greater Manchester
BL4 8JW

These financial statements were authorised for issue by the Board on 7 October 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.

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements:
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
- Determination of recoverability of trade debtors. A specific provision is made against certain debts where in the opinion of the directors the debit is not fully recoverable.
- Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and project disposal values.
- Determination of recoverability of stock. A specific provision is made against certain stock where in the opinion of the directors the stock will be recovered at less than cost.

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.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class | Depreciation method and rate
Plant & Machinery | 10% to 40% straight line
Motor Vehicles | 25% straight line

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit or loss unless the provision was originally recognised as part of the cost of the asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Operating Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not at a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2024 - 44).

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Plant & Machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 1,850,528 | 815,453 | 2,665,981
Additions | 266,152 | 40,571 | 306,723
Disposals | - | (129,617) | (129,617)
At 31 March 2025 | 2,116,680 | 726,407 | 2,843,087
Depreciation
At 1 April 2024 | 1,681,001 | 664,819 | 2,345,820
Charge for the year | 49,781 | 133,923 | 183,704
Eliminated on disposal | - | (124,344) | (124,344)
At 31 March 2025 | 1,730,782 | 674,398 | 2,405,180
Carrying amount
At 31 March 2025 | 385,898 | 52,009 | 437,907
At 31 March 2024 | 169,527 | 150,634 | 320,161

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 1,590,800 | 793,665
Prepayments | 23,223 | 26,839
Other debtors | 301,086 | 1,313,264
| 1,915,109 | 2,133,768

Tame Valley Padding Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 271,904 | 349,770
Taxation and social security | 210,100 | 109,165
Accruals and deferred income | 90,936 | 267,242
Other creditors | 670,981 | 48,562
| 1,243,921 | 774,739

7 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 192,000 | 144,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £192,000 (2024 - £144,000).

8 | Related party transactions

At certain times during the year a loan was advanced to a director, with a maximum outstanding of £Nil (2024: £547).