IRIS Accounts Production v25.2.0.378 SC101916 Board of Directors 1.3.24 28.2.25 28.2.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC101916 2024-02-29 SC101916 2025-02-28 SC101916 2024-03-01 2025-02-28 SC101916 2023-02-28 SC101916 2023-03-01 2024-02-29 SC101916 2024-02-29 SC101916 ns14:PoundSterling 2024-03-01 2025-02-28 SC101916 ns10:Director1 2024-03-01 2025-02-28 SC101916 ns10:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 SC101916 ns10:SmallEntities 2024-03-01 2025-02-28 SC101916 ns10:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 SC101916 ns10:SmallCompaniesRegimeForDirectorsReport 2024-03-01 2025-02-28 SC101916 ns10:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 SC101916 ns10:FullAccounts 2024-03-01 2025-02-28 SC101916 1 2024-03-01 2025-02-28 SC101916 ns5:CurrentFinancialInstruments 2025-02-28 SC101916 ns5:CurrentFinancialInstruments 2024-02-29 SC101916 ns5:Non-currentFinancialInstruments 2025-02-28 SC101916 ns5:Non-currentFinancialInstruments 2024-02-29 SC101916 ns5:ShareCapital 2025-02-28 SC101916 ns5:ShareCapital 2024-02-29 SC101916 ns5:RetainedEarningsAccumulatedLosses 2025-02-28 SC101916 ns5:RetainedEarningsAccumulatedLosses 2024-02-29 SC101916 ns5:NetGoodwill 2024-03-01 2025-02-28 SC101916 ns5:LeaseholdImprovements 2024-03-01 2025-02-28 SC101916 ns5:PlantMachinery 2024-03-01 2025-02-28 SC101916 ns5:NetGoodwill 2024-02-29 SC101916 ns5:NetGoodwill 2025-02-28 SC101916 ns5:NetGoodwill 2024-02-29 SC101916 ns5:PlantMachinery 2024-02-29 SC101916 ns5:PlantMachinery 2025-02-28 SC101916 ns5:PlantMachinery 2024-02-29 SC101916 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-28 SC101916 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-02-29

REGISTERED NUMBER: SC101916

INGLES BUCHAN (TEXTILES) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

BALANCE SHEET

28 FEBRUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 37,169 |  | 49,028 |  |

37,169 |  | 49,028 |  |

CURRENT ASSETS

Stocks | 440,217 |  | 428,526 |  |

Debtors | 6 | 461,587 |  | 477,272 |  |

Cash at bank and in hand | 12,611 |  | 29,358 |  |

914,415 |  | 935,156 |  |

CREDITORS

Amounts falling due within one year | 7 | 390,842 |  | 451,725 |  |

NET CURRENT ASSETS | 523,573 |  | 483,431 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 560,742 |  | 532,459 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (40,281 | ) | (39,012 | ) |

PROVISIONS FOR LIABILITIES | (5,495 | ) | (5,709 | ) |

NET ASSETS | 514,966 |  | 487,738 |  |

CAPITAL AND RESERVES

Called up share capital | 50,000 |  | 50,000 |  |

Retained earnings | 464,966 |  | 437,738 |  |

SHAREHOLDERS' FUNDS | 514,966 |  | 487,738 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

BALANCE SHEET - continued

28 FEBRUARY 2025

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

C W Brown - Director

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1. | STATUTORY INFORMATION

| Ingles Buchan (Textiles) Limited is a private company, limited by shares, registered in Scotland. The company's registered office is Unit 2/1, 19 Brand Place, 200 Brand Street, Glasgow, Scotland, G51 1DR.

| The presentation currency of the financial statements is Sterling (£).

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. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

| Judgements

| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.The directors consider there are no such significant judgements.

| Turnover

| Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

| Goodwill

| Goodwill, being the difference between the amount paid for various businesses and the aggregate value of their separable net assets, has been written off over the term of its expected useful economic life of between 3 to 10 years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Improvements to property | - | 20% on cost

| Equipment | - | 10% on cost

| Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

| Impairment of non-financial assets

| At each reporting date non-financial assets not carried at fair value, like improvements to property, goodwill, plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

| Government grants

| Grants relating to the purchase of fixed assets are accounted for as deferred income and amortised over the term of the expected useful life of the asset to which they relate.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to sell.

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

| Taxation

| Taxation represents the sum of tax currently payable and deferred tax. 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.

| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

| Operating lease commitments

| 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.

| Provisions

| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 14 (2024 - 15 ) .

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 237,000 |  |

| AMORTISATION

| At 1 March 2024

| and 28 February 2025 | 237,000 |  |

| NET BOOK VALUE

| At 28 February 2025 | - |  |

| At 29 February 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 March 2024

| and 28 February 2025 | 132,470 |  |

| DEPRECIATION

| At 1 March 2024 | 83,442 |  |

| Charge for year | 11,859 |  |

| At 28 February 2025 | 95,301 |  |

| NET BOOK VALUE

| At 28 February 2025 | 37,169 |  |

| At 29 February 2024 | 49,028 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 220,612 |  | 250,393 |  |

| Amounts owed by group undertakings | 227,175 |  | 214,379 |  |

| Other debtors | 13,800 |  | 12,500 |  |

461,587 |  | 477,272 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 22,222 |  | 66,667 |  |

| Trade creditors | 190,137 |  | 244,816 |  |

| Taxation and social security | 110,785 |  | 63,430 |  |

| Other creditors | 67,698 |  | 76,812 |  |

390,842 |  | 451,725 |  |

INGLES BUCHAN (TEXTILES) LIMITED (REGISTERED NUMBER: SC101916)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 22,222 |  |

| Other creditors | 40,281 |  | 16,790 |  |

40,281 |  | 39,012 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| E Capital Commercial Finance | 22,852 |  | 41,061 |  |

| E Capital Commercial Finance holds a floating charge over the whole assets of the company in respect of finance provided to the company.

10. | OTHER FINANCIAL COMMITMENTS

| At the year end, the company had total operating lease commitments outstanding of £91,422 (2024 - £120,794).