FASHION & TEXTILE SKILLS C.I.C.

Company Registration Number:
NI624758 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 March 2025

Period of accounts

Start date: 1 April 2024

End date: 31 March 2025

FASHION & TEXTILE SKILLS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FASHION & TEXTILE SKILLS C.I.C.

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Directors

The directors shown below have held office during the whole of the period from
1 April 2024 to 31 March 2025

John Meehan
 William McIvor
 Philomena Melaugh

Secretary Damian McAteer

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
23 June 2025

And signed on behalf of the board by:
Name: John Meehan
Status: Director

FASHION & TEXTILE SKILLS C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2025

2025 2024


£
£
Turnover: 34,926 44,990
Cost of sales: ( 358 ) ( 35 )
Gross profit(or loss): 34,568 44,955
Administrative expenses: ( 34,388 ) ( 44,877 )
Operating profit(or loss): 180 78
Interest payable and similar charges: ( 2 )
Profit(or loss) before tax: 178 78
Tax: ( 143 ) ( 124 )
Profit(or loss) for the financial year: 35 (46)

FASHION & TEXTILE SKILLS C.I.C.

Balance sheet

As at 31 March 2025

Notes 2025 2024


£
£
Fixed assets
Tangible assets: 3 0 556
Total fixed assets: 0 556
Current assets
Cash at bank and in hand: 8,796 28,449
Total current assets: 8,796 28,449
Creditors: amounts falling due within one year: 4 ( 4,504 ) ( 24,747 )
Net current assets (liabilities): 4,292 3,702
Total assets less current liabilities: 4,292 4,258
Total net assets (liabilities): 4,292 4,258
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 4,282 4,248
Total Shareholders' funds: 4,292 4,258

The notes form part of these financial statements

FASHION & TEXTILE SKILLS C.I.C.

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 26 June 2025
and signed on behalf of the board by:

Name: John Meehan
Status: Director

The notes form part of these financial statements

FASHION & TEXTILE SKILLS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents fees, charges and grants received and receivable during the year ended 31 March 2025

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

    Other accounting policies

    Financial instruments A financial asset or a financial liability is recognised only when the company 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. Parent Company Fashion & Textile Skills C.I.C. is a wholly owned subsidiary of Londonderry Inner City Trust which is a private charitable company limited by shares, registered in Northern Ireland. The address of the registered office is 31-33 Shipquay Street, Derry, Co. Derry, BT48 6DL.

FASHION & TEXTILE SKILLS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 0 0

FASHION & TEXTILE SKILLS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2024 4,047 4,047
Additions
Disposals
Revaluations
Transfers
At 31 March 2025 4,047 4,047
Depreciation
At 1 April 2024 3,491 3,491
Charge for year 556 556
On disposals
Other adjustments
At 31 March 2025 4,047 4,047
Net book value
At 31 March 2025 0 0
At 31 March 2024 556 556

FASHION & TEXTILE SKILLS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Creditors: amounts falling due within one year note

2025 2024
£ £
Trade creditors 140 1,142
Taxation and social security 139 124
Other creditors 4,225 23,481
Total 4,504 24,747

COMMUNITY INTEREST ANNUAL REPORT

FASHION & TEXTILE SKILLS C.I.C.

Company Number: NI624758 (Northern Ireland)

Year Ending: 31 March 2025

Company activities and impact

The company continued its programme of low-cost community classes and workshops which included :- a variety of adult beginner, intermediate and advanced classes summer camps, classes and seasonal workshops for children bespoke classes for local charities, community groups and educational establishments It continues to provide studio space for local emerging designers. Emerging and established designers have access to specialist equipment and facilities.

Consultation with stakeholders

The company’s stakeholders include :- members of the local community who participate in its leisure classes and workshops aspiring and emerging designers who utilise incubator space and equipment local fashion designers who utilise specialist equipment its funders Londonderry Inner City Trust its community partners North West Regional College, Northern Ireland Resources Network, Victims and Survivors Service and the Western Health & Social Care Trust with whom it runs bespoke classes and workshops We ask participants for their feedback through regular in-person and on-line forums. The Inner City Trust nominates the Directors of the company from its membership.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 June 2025

And signed on behalf of the board by:
Name: John Meehan
Status: Director