Fibre Extrusion Technology Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03504192 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Fibre Extrusion Technology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Slack

J P Archibald

SECRETARY:

R W Slack

REGISTERED OFFICE:

Units F & G

Treefield Industrial Estate

Gelderd Road

Leeds

LS27 7JU

REGISTERED NUMBER:

03504192 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Tangible assets

4

783,757

603,565

CURRENT ASSETS

Stocks

1,499,670

1,436,666

Debtors

5

3,230,022

2,499,192

Cash at bank and in hand

4,244,367

2,800,927

8,974,059

6,736,785

CREDITORS

Amounts falling due within one year

6

4,816,657

4,095,223

NET CURRENT ASSETS

4,157,402

2,641,562

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,941,159

3,245,127

PROVISIONS FOR LIABILITIES

124,058

5,284

NET ASSETS

4,817,101

3,239,843

CAPITAL AND RESERVES

Called up share capital

625

Capital redemption reserve

9

375

Retained earnings

9

4,816,101

3,238,843

SHAREHOLDERS' FUNDS

4,817,101

3,239,843

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 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.

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 Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

R W Slack - Director

1.	STATUTORY INFORMATION

Fibre Extrusion Technology 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 comprises the value of sales (excluding VAT) of goods and services provided in the normal course of business. Revenue is recognised when goods are despatched or at the point at which risks and rewards of ownership are passed to the buyer.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Inventories

Inventories and work in progress are valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress, the cost includes a relevant proportion of overheads according to the stage of manufacture/ completion.

Financial instruments

Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Research and development

Revenue expenditure on research and development is written off in the year in which it is incurred. Any research and development expenditure of a capital nature is capitalised and depreciation charged thereon.

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

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 28 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

COST

At 1 April 2024

775,266

715,898

30,589

Additions

14,056

533,841

-

At 31 March 2025

789,322

1,249,739

30,589

DEPRECIATION

At 1 April 2024

468,523

420,646

29,863

Charge for year

122,662

245,210

726

At 31 March 2025

591,185

665,856

30,589

NET BOOK VALUE

At 31 March 2025

198,137

583,883

-

At 31 March 2024

306,743

295,252

726

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 April 2024

28,095

38,305

1,588,153

Additions

-

1,643

549,540

At 31 March 2025

28,095

39,948

2,137,693

DEPRECIATION

At 1 April 2024

28,095

37,461

984,588

Charge for year

-

750

369,348

At 31 March 2025

28,095

38,211

1,353,936

NET BOOK VALUE

At 31 March 2025

-

1,737

783,757

At 31 March 2024

-

844

603,565

5.

DEBTORS

31.3.25

31.3.24

£

Amounts falling due within one year:

Trade debtors

1,158,993

793,497

Other debtors

1,894,647

1,579,479

3,053,640

2,372,976

31.3.25

31.3.24

£

Amounts falling due after more than one year:

Other debtors

176,382

126,216

Aggregate amounts

3,230,022

2,499,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Payments on account

2,860,875

2,871,509

Trade creditors

806,251

799,414

Taxation and social security

484,077

35,732

Other creditors

665,454

388,568

4,816,657

4,095,223

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

137,543

127,777

Between one and five years

381,928

480,004

519,471

607,781

8.	SECURED DEBTS

HSBC Bank Plc has a fixed and floating charge and a general pledge over the assets of the company as a normal procedure of providing the banking service.

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

At 1 April 2024

3,238,843

375

3,239,218

Profit for the year

1,577,258

At 31 March 2025

4,816,101

375

4,816,476

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

**UNKNOWN DIRECTOR 1**

Balance outstanding at start of year

-

157,049

Amounts advanced

-

369

Amounts repaid

-

(157,418

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

**UNKNOWN DIRECTOR 2**

Balance outstanding at start of year

165,914

146,425

Amounts advanced

150,000

39,489

Amounts repaid

-

(20,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

315,914

165,914

**UNKNOWN DIRECTOR 3**

Balance outstanding at start of year

63,980

54,125

Amounts advanced

150,000

20,521

Amounts repaid

-

(10,666

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

213,980

63,980

Interest is charged on the overdrawn directors loan at the official rate.

This is repayable on demand.