G C Textiles Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04789264

G C TEXTILES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2026

G C TEXTILES LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2026

	2026		2025
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		17,707		29,287

CURRENT ASSETS

Debtors	6	34,686	36,288
Cash at bank and in hand		11,481	13,070
		---------	---------
		46,167	49,358

CREDITORS: amounts falling due within one year	7	50,060		48,681
		---------		---------
NET CURRENT (LIABILITIES)/ASSETS			( 3,893)		677
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			13,814		29,964

CREDITORS: amounts falling due after more than one year	8		8,360		21,225

PROVISIONS

Taxation including deferred tax	5,565	5,565
	---------	---------
NET (LIABILITIES)/ASSETS	( 111)	3,174
	---------	---------

G C TEXTILES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2026

	2026		2025
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	10	10
Profit and loss account	( 121)	3,164
	----	-------
SHAREHOLDER (DEFICIT)/FUNDS	( 111)	3,174
	----	-------

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 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his 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 16 October 2026 , and are signed on behalf of the board by:

J P Rogers
Director

Company registration number: 04789264

G C TEXTILES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2026

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

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.

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:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 11 (2025: 8 ).

5. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 February 2025	9,571	65,307	4,697	79,575
Disposals	( 5,900)	( 14,882)	–	( 20,782)
	-------	---------	-------	---------
At 31 January 2026	3,671	50,425	4,697	58,793
	-------	---------	-------	---------
Depreciation
At 1 February 2025	7,286	38,920	4,082	50,288
Charge for the year	156	5,769	215	6,140
Disposals	( 3,771)	( 11,571)	–	( 15,342)
	-------	---------	-------	---------
At 31 January 2026	3,671	33,118	4,297	41,086
	-------	---------	-------	---------
Carrying amount
At 31 January 2026	–	17,307	400	17,707
	-------	---------	-------	---------
At 31 January 2025	2,285	26,387	615	29,287
	-------	---------	-------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 January 2026	8,610
	-------
At 31 January 2025	11,481
	---------

6. DEBTORS

	2026	2025
	£	£
Trade debtors	5,349	11,970
Other debtors	29,337	24,318
	---------	---------
	34,686	36,288
	---------	---------

7. CREDITORS: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	21,044	16,134
Trade creditors	–	3,671
Corporation tax	8,456	8,448
Social security and other taxes	13,052	14,005
Other creditors	7,508	6,423
	---------	---------
	50,060	48,681
	---------	---------

8. CREDITORS: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	2,481	11,851
Other creditors	5,879	9,374
	-------	---------
	8,360	21,225
	-------	---------

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director had an unsecured loan with the company during the year. The balance at the beginning of the year was £11,178 with further net advances of £3,915 being made, giving a balance at the end of the year of £15,094. The maximum balance outstanding during the year was £15,094 Interest at 3.75% has been charged on the daily balance outstanding.