Registration number: 00556653

Textile Technologies Europe Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Textile Technologies Europe Limited

Company Information

Directors

Mrs JM Ashworth Mr EF Ashworth

Company secretary

Mr EF Ashworth

Registered office

Unit 6A Kingston Mills Manchester Road Hyde Cheshire England SK14 2BZ

Accountants

Horne Brooke Shenton Chartered Accountants15 Olympic Court Boardmans Way, Whitehills Business Park Blackpool FY4 5GU

Textile Technologies Europe Limited

(Registration number: 00556653)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	5	19,669	9,162
Current assets
Stocks	6	522,331	549,878
Debtors	7	267,794	139,038
Cash at bank and in hand		72,670	230,507
		862,795	919,423
Creditors: Amounts falling due within one year	8	(338,997)	(241,241)
Net current assets		523,798	678,182
Total assets less current liabilities		543,467	687,344
Provisions for liabilities		(3,737)	(1,741)
Net assets		539,730	685,603
Capital and Reserves
Called up share capital	9	10,000	10,000
Retained Earnings		529,730	675,603
Shareholders' funds		539,730	685,603

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2026 and signed on its behalf by:
 

.........................................

Mr EF Ashworth

Company secretary and director

Textile Technologies Europe Limited

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

1	General information

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

The address of its registered office is:
Unit 6A
Kingston Mills
Manchester Road
Hyde
Cheshire
SK14 2BZ
England

These financial statements were authorised for issue by the Board on 22 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

The presentation currency is £ sterling.

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.

Textile Technologies Europe Limited

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

Government grants

Whether of a capital or revenue nature, Government grants have been recognised on an accruals basis and recognised in the accounts in the period in which it becomes receivable.

Grants of a revenue nature are recognised in "other operating income" within the profit or loss account in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme ('Furlough'). The company has not benefited from any other forms of Government assistance.

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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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 & Machinery	20% reducing balance
Fixtures, Fittings & Computer Equipment	20% reducing balance
Office Equipment	25% straight line

Textile Technologies Europe Limited

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

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:

Asset class	Amortisation method and rate
Website and computer software	25% straight line

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Textile Technologies Europe Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 8).

Textile Technologies Europe Limited

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

4	Intangible assets

	Website and computer software costs  £	Total £
Cost or valuation
At 1 January 2025	27,791	27,791
At 31 December 2025	27,791	27,791
Amortisation
At 1 January 2025	27,791	27,791
At 31 December 2025	27,791	27,791
Carrying amount
At 31 December 2025	-	-

Textile Technologies Europe Limited

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

5	Tangible Assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	34,411	12,412	6,622	53,445
Additions	7,790	4,632	1,873	14,295
At 31 December 2025	42,201	17,044	8,495	67,740
Depreciation
At 1 January 2025	31,015	10,933	2,335	44,283
Charge for the year	1,484	604	1,700	3,788
At 31 December 2025	32,499	11,537	4,035	48,071
Carrying amount
At 31 December 2025	9,702	5,507	4,460	19,669
At 31 December 2024	3,396	1,479	4,287	9,162

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	522,331	549,878

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		252,714	127,932
Amounts owed by related parties	12	1,641	-
Prepayments		13,439	11,106
		267,794	139,038

Textile Technologies Europe Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Amounts falling due within one year
Trade creditors		237,502	125,985
PAYE and NIC		6,035	4,578
VAT		51,035	21,894
Wages and salaries control		-	3,606
Accruals		13,600	8,817
Corporation tax		29,510	72,925
Directors loan account		-	2,504
Pension contributions unpaid		1,315	932
		338,997	241,241

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	7,500	7,500	7,500	7,500
Ordinary A of £1 each	2,500	2,500	2,500	2,500
	10,000	10,000	10,000	10,000

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	6,354	-
Later than one year and not later than five years	10,062	-
	16,416	-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £2,648 (2024 - £Nil).

Textile Technologies Europe Limited

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

11

Dividends

		2025		2024
		£		£
Dividends paid		250,000		235,000

12	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Directors advances and credits

During the year one of the directors loan accounts became overdrawn by £1,641. No interest was charged on this unsecured loan. The advance was repaid on 1st January 2026.

Transactions with Directors

During the year ended 31st December 2025 dividends of £250,000 (2024: £235,000) were paid to the directors.

Textile Technologies Australia

The directors and shareholders of Textile Technologies Australia are also the directors of Textile Technologies (Europe) Limited.

Turnover in connection with this company during the year ended 31st December 2025 totalled £Nil (2024: £Nil).