Direct Tile Warehouse Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03397053 (England and Wales)

Financial Statements for the Year Ended 31 October 2020

for

Direct Tile Warehouse Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Ballard

Mrs S R Ballard

SECRETARY:

Mrs S R Ballard

REGISTERED OFFICE:

45/51, Wychtree Street

Morriston

Swansea

West Glamorgan

SA6 8EX

REGISTERED NUMBER:

03397053 (England and Wales)

SENIOR STATUTORY AUDITOR:

Dylan Jones

AUDITORS:

Cambrian & Co Ltd

Chartered Accountants & Statutory Auditors

13a Victoria Gardens

Neath

West Glamorgan

SA11 3AY

FIXED ASSETS

Investments

4

22,260

22,260

CURRENT ASSETS

Stocks

50,000

50,000

Debtors

5

4,015,354

4,015,860

Cash at bank

912

952

4,066,266

4,066,812

CREDITORS

Amounts falling due within one year

6

526

525

NET CURRENT ASSETS

4,065,740

4,066,287

TOTAL ASSETS LESS CURRENT LIABILITIES

4,088,000

4,088,547

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

4,087,998

4,088,545

SHAREHOLDERS' FUNDS

4,088,000

4,088,547

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2020 and were signed on its behalf by:

Mr P Ballard - Director

1.	STATUTORY INFORMATION

Direct Tile Warehouse 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. After making enquiries the directors have established that the company has the resources to continue in operational existence for the future period covered by their review, which exceeds a period of twelve months from the date of approval of these financial statements. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Investments

Fixed asset investments are shown at cost incurred less provision for impairment.

Turnover and other operating income

Turnover represents the sale of property held within development stock.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2019

and 31 October 2020

22,260

NET BOOK VALUE

At 31 October 2020

22,260

At 31 October 2019

22,260

The company's investments at the Balance Sheet date in the share capital of companies include the following:

DTW(SPV)Ltd

Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX

Nature of business: Land Developers

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

(3,911

)

(3,441

)

Loss for the year

(470

)

(424

)

Ancestor Homes Limited

Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX

Nature of business: Ancestor website

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

(25,189

)

(20,366

)

Loss for the year

(4,823

)

(5,500

)

South India Tours and Travel Ltd

Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX

Nature of business: Tour Operator

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

(69,422

)

(50,396

)

Loss for the year

(19,026

)

(23,232

)

Authentic South India Tours Pvt Limited

Registered office: 10 Umayal Road, Kilpauk, Chennai 600010. India

Nature of business: Tour Operators

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

26,251

21,810

Profit for the year

4,442

13,338

Compton Group Ltd

Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

1

1

Shotwick Land Ltd

Registered office: 45-51 Wychtree Street, Morriston, Swansea, SA6 8EX

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

1

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Amounts due from related

companies

3,951,366

3,951,989

Deferred tax asset

63,988

63,859

Prepayments and accrued income

-

12

4,015,354

4,015,860

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Other creditors

1

-

Accrued expenses

525

525

526

525

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dylan Jones (Senior Statutory Auditor)

for and on behalf of Cambrian & Co Ltd

8.	RELATED PARTY DISCLOSURES

Debtors include an amount of £3,951,366 (2019 £3,951,989) due from Tapestart Ltd an associated company under common control. Tapestart Ltd acts as a clearing house for intercompany transactions between associated companies.

9.	ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be the W Ballard Discretionary Trust.