COMPANY REGISTRATION NUMBER:
03007953
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
5 |
153,078 |
177,056 |
|
|
|
|
Current assets
|
Stocks |
782,106 |
576,518 |
|
Debtors |
6 |
745,499 |
413,255 |
|
Cash at bank and in hand |
3,992 |
148,218 |
|
------------ |
------------ |
|
1,531,597 |
1,137,991 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
1,252,087 |
875,626 |
|
------------ |
------------ |
|
Net current assets |
279,510 |
262,365 |
|
--------- |
--------- |
|
Total assets less current liabilities |
432,588 |
439,421 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
24,000 |
24,000 |
|
Profit and loss account |
408,588 |
415,421 |
|
--------- |
--------- |
|
Shareholders funds |
432,588 |
439,421 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2025
, and are signed on behalf of the board by:
|
Mr. T.J. Woodbridge |
Mr. T. Hunt |
|
Director |
Director |
|
|
Company registration number:
03007953
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cardinal Point, Park Road, Rickmansworth, Hertfordshire, WD3 1RE.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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:
|
Long leasehold property |
- |
on a straight line basis over the term of the lease |
|
Plant and machinery |
- |
on a straight line basis over 4 to 16 years |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
21
(2024:
21
).
5.
Tangible assets
|
Long leasehold property |
Plant and machinery |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 April 2024 |
295,738 |
3,190,091 |
3,485,829 |
|
Additions |
28,835 |
13,074 |
41,909 |
|
--------- |
------------ |
------------ |
|
At 31 March 2025 |
324,573 |
3,203,165 |
3,527,738 |
|
--------- |
------------ |
------------ |
|
Depreciation |
|
|
|
|
At 1 April 2024 |
257,976 |
3,050,797 |
3,308,773 |
|
Charge for the year |
5,560 |
60,327 |
65,887 |
|
--------- |
------------ |
------------ |
|
At 31 March 2025 |
263,536 |
3,111,124 |
3,374,660 |
|
--------- |
------------ |
------------ |
|
Carrying amount |
|
|
|
|
At 31 March 2025 |
61,037 |
92,041 |
153,078 |
|
--------- |
------------ |
------------ |
|
At 31 March 2024 |
37,762 |
139,294 |
177,056 |
|
--------- |
------------ |
------------ |
|
|
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
480,435 |
190,949 |
|
Other debtors |
265,064 |
222,306 |
|
--------- |
--------- |
|
745,499 |
413,255 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
930,067 |
663,720 |
|
Social security and other taxes |
182,845 |
122,586 |
|
Other creditors |
139,175 |
89,320 |
|
------------ |
--------- |
|
1,252,087 |
875,626 |
|
------------ |
--------- |
|
|
|
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2025 |
2024 |
|
£ |
£ |
|
Not later than 1 year |
189,190 |
189,190 |
|
Later than 1 year and not later than 5 years |
756,760 |
756,760 |
|
--------- |
--------- |
|
945,950 |
945,950 |
|
--------- |
--------- |
|
|
|
9.
Related party transactions
During the year the company was controlled by Mr. T.A. Hunt and
Mr. T.J. Woodbridge
by virtue of their Directorships and collective family ownership of TLX Holdings Limited and also by virtue of the Directorship of Mr T.J. Woodbridge in this company. Mr. T.J. Woodbridge
is also a director and sole shareholder in Hunt Technology Limited. TLX Holdings Limited also owns 100% of TLX Manufacturing Limited of which Mr T.J. Woodbridge is also a Director. TLX Insulation Limited was also controlled by Mr. T.A. Hunt and Mr. T.J. Woodbridge
by virtue of their collective 100% family ownership and Directorships of this company. During the year the company had the following related party transactions: TLX Insulation Limited During the year the company sold goods to TLX Insulation Limited totalling £4,711,406 (2024: £4,365,758). At the balance sheet date the company was owed £389,787 by TLX Insulation Limited (2024: £13,287 was owed to TLX Insulation Limited). There is no interest accruing on these balances. Hunt Technology Limited During the year the company paid a licence fee totalling £136,266 to Hunt Technology Limited (2024: £145,298). At the balance sheet date, the company owed £261,334 to Hunt Technology Limited (2024: £155,866). There is no interest accruing on these balances.