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Registration number: 05311972

J & M Sherry Textiles Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

J & M Sherry Textiles Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 11

J & M Sherry Textiles Limited

Company Information

Director | Mr A S Ahmed

Registered office | Enterprise House Billington Road Industrial Estate Billington Road Burnley Lancashire BB11 5UB

Accountants | Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
J & M Sherry Textiles Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J & M Sherry Textiles Limited for the year ended 31 March 2025 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of J & M Sherry Textiles Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of J & M Sherry Textiles Limited and state those matters that we have agreed to state to the Board of Directors of J & M Sherry Textiles Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J & M Sherry Textiles Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J & M Sherry Textiles Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of J & M Sherry Textiles Limited. You consider that J & M Sherry Textiles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of J & M Sherry Textiles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

6 March 2026

J & M Sherry Textiles Limited

(Registration number: 05311972)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 2,540 | 4,178
Current assets |  |  |
Stocks | 6 | 488,693 | 928,913
Debtors | 7 | 1,112,474 | 1,135,717
Cash at bank and in hand |  | 5,720 | 1,833
|  | 1,606,887 | 2,066,463
Creditors: Amounts falling due within one year | 8 | (1,104,186) | (1,293,922)
Net current assets |  | 502,701 | 772,541
Total assets less current liabilities |  | 505,241 | 776,719
Creditors: Amounts falling due after more than one year | 8 | (1,489,062) | (1,613,846)
Provisions for liabilities |  | 217,178 | 189,306
Net liabilities |  | (766,643) | (647,821)
Capital and reserves |  |  |
Called up share capital |  | 150,000 | 150,000
Retained earnings |  | (916,643) | (797,821)
Shareholders' deficit |  | (766,643) | (647,821)

For the financial 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.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

J & M Sherry Textiles Limited

(Registration number: 05311972)
Balance Sheet as at 31 March 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2026

......................................... Mr A S Ahmed Director

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Enterprise House Billington Road Industrial Estate
Billington Road
Burnley
Lancashire
BB11 5UB

These financial statements were authorised for issue by the director on 6 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance
Fixtures and fittings | 20% straight line
Equipment | 20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year was 5 (2024 - 5).

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 128,000 | 128,000
At 31 March 2025 | 128,000 | 128,000
Amortisation
At 1 April 2024 | 128,000 | 128,000
At 31 March 2025 | 128,000 | 128,000
Carrying amount
At 31 March 2025 | - | -

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 April 2024 | 91,906 | 91,906
Additions | 185 | 185
At 31 March 2025 | 92,091 | 92,091
Depreciation
At 1 April 2024 | 87,728 | 87,728
Charge for the year | 1,823 | 1,823
At 31 March 2025 | 89,551 | 89,551
Carrying amount
At 31 March 2025 | 2,540 | 2,540
At 31 March 2024 | 4,178 | 4,178

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 488,693 | 928,913

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 252,668 | 215,565
Amounts owed by group undertakings and undertakings in which the company has a participating interest |  | 818,155 | 878,011
Prepayments |  | 2,499 | 2,989
Other debtors |  | 39,152 | 39,152
|  | 1,112,474 | 1,135,717

J & M Sherry Textiles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 223,018 | 279,748
Trade creditors |  | 663,248 | 791,754
Taxation and social security |  | 40,554 | 51,961
Accruals and deferred income |  | 2,202 | 3,082
Other creditors |  | 175,164 | 167,377
|  | 1,104,186 | 1,293,922

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 186,188 | 168,629
Other non-current financial liabilities |  | 1,302,874 | 1,445,217
|  | 1,489,062 | 1,613,846

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 186,188 | 168,629

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 223,018 | 279,742
Bank overdrafts | - | 6
| 223,018 | 279,748

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

10 | Parent and ultimate parent undertaking

The company's immediate parent is Linen Supply Group Limited, incorporated in England and Wales.
The ultimate controlling party is director Mr A S Ahmed.