Tex-Style Limited - Accounts to registrar (filleted) - small 18.1

TEX-STYLE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Bowler

REGISTERED OFFICE:

Unit 20

Kings Mill Way

Mansfield

Nottinghamshire

NG18 5ER

REGISTERED NUMBER:

07744514 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Tangible assets

4

55,206

69,477

CURRENT ASSETS

Debtors

5

57,054

49,674

Cash at bank and in hand

21,245

10,240

78,299

59,914

CREDITORS

Amounts falling due within one year

6

40,808

30,610

NET CURRENT ASSETS

37,491

29,304

TOTAL ASSETS LESS CURRENT LIABILITIES

92,697

98,781

CREDITORS

Amounts falling due after more than one year

7

(44,472

)

(46,598

)

PROVISIONS FOR LIABILITIES

(7,145

)

(10,100

)

NET ASSETS

41,080

42,083

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

40,980

41,983

SHAREHOLDERS' FUNDS

41,080

42,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 4 June 2018 and were signed by:

S J Bowler - Director

1.	STATUTORY INFORMATION

Tex-Style Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2016

1,176

69,850

4,040

75,066

Additions

1,591

-

1,858

3,449

At 30 September 2017

2,767

69,850

5,898

78,515

DEPRECIATION

At 1 October 2016

560

2,910

2,119

5,589

Charge for year

320

16,735

665

17,720

At 30 September 2017

880

19,645

2,784

23,309

NET BOOK VALUE

At 30 September 2017

1,887

50,205

3,114

55,206

At 30 September 2016

616

66,940

1,921

69,477

The net book value of tangible fixed assets includes £ 50,205 (2016 - £ 66,940 ) in respect of assets held under

hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

54,063

46,675

Other debtors

2,991

2,999

57,054

49,674

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

9,958

14,524

Trade creditors

279

308

Taxation and social security

25,720

12,316

Other creditors

4,851

3,462

40,808

30,610

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

44,472

46,598

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

54,430

61,122

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	FIRST YEAR ADOPTION

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit and loss.