REGISTERED NUMBER: 02441949 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Talon Textiles Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C P Newman

REGISTERED OFFICE:

Titex House

Unit 8, Common Bank Industrial Estate

Ackhurst Road

Chorley

Lancashire

PR7 1NH

REGISTERED NUMBER:

02441949 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

41,702

65,536

CURRENT ASSETS

Stocks

685,906

609,342

Debtors

5

226,733

235,673

Cash at bank

289,935

238,328

1,202,574

1,083,343

CREDITORS

Amounts falling due within one year

6

744,234

648,390

NET CURRENT ASSETS

458,340

434,953

TOTAL ASSETS LESS CURRENT LIABILITIES

500,042

500,489

CREDITORS

Amounts falling due after more than one year

7

-

(2,005

)

PROVISIONS FOR LIABILITIES

9

(10,425

)

(16,385

)

NET ASSETS

489,617

482,099

CAPITAL AND RESERVES

Called up share capital

10

110

110

Retained earnings

489,507

481,989

SHAREHOLDERS' FUNDS

489,617

482,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2025 and were signed by:

C P Newman - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment

-

40% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Motor

equipment

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

14,448

17,008

111,776

143,232

Additions

4,112

-

-

4,112

Disposals

(2,548

)

-

(34,248

)

(36,796

)

At 31 March 2025

16,012

17,008

77,528

110,548

DEPRECIATION

At 1 April 2024

11,771

14,082

51,843

77,696

Charge for year

2,350

439

11,898

14,687

Eliminated on disposal

(1,631

)

-

(21,906

)

(23,537

)

At 31 March 2025

12,490

14,521

41,835

68,846

NET BOOK VALUE

At 31 March 2025

3,522

2,487

35,693

41,702

At 31 March 2024

2,677

2,926

59,933

65,536

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

49,814

DEPRECIATION

At 1 April 2024

12,454

Charge for year

9,340

At 31 March 2025

21,794

NET BOOK VALUE

At 31 March 2025

28,020

At 31 March 2024

37,360

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

214,433

223,756

Prepayments

12,300

11,917

226,733

235,673

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

669

3,008

Trade creditors

7,337

3,542

Corporation tax

46,818

42,011

Social security and other taxes

523

1,017

VAT

62,463

69,531

Amount due to holding company

621,240

523,011

Directors' current accounts

-

342

Accrued expenses

5,184

5,928

744,234

648,390

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

-

2,005

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

669

5,013

The hire purchase obligation is secured on the asset to which it relates.

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

10,425

16,385

Deferred

tax

£

Balance at 1 April 2024

16,385

Credit to Statement of Income and Retained Earnings during year

(5,960

)

Balance at 31 March 2025

10,425

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

10

A Ordinary

£1

10

10

110

110

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C P Newman.