Tiles (UK) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01356000 (England and Wales)

Financial Statements for the Year Ended 30 April 2023

for

Tiles (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss A Bold

Mr I Kershaw

Mr D Sowden

Mrs L Singleton

SECRETARY:

Miss A Bold

REGISTERED OFFICE:

1-13 Montford Street

Salford

Manchester

M50 2XD

REGISTERED NUMBER:

01356000 (England and Wales)

ACCOUNTANTS:

Stephen Round Limited

Chartered Certified Accountants

366 Holcombe Road

Greenmount

Bury

Lancashire

BL8 4DT

FIXED ASSETS

Tangible assets

4

627,890

640,777

Investments

5

11

11

627,901

640,788

CURRENT ASSETS

Stocks

826,409

854,176

Debtors

6

948,765

884,168

1,775,174

1,738,344

CREDITORS

Amounts falling due within one year

7

966,323

896,177

NET CURRENT ASSETS

808,851

842,167

TOTAL ASSETS LESS CURRENT LIABILITIES

1,436,752

1,482,955

CREDITORS

Amounts falling due after more than one year

8

(310,425

)

(371,862

)

PROVISIONS FOR LIABILITIES

(5,250

)

(5,250

)

NET ASSETS

1,121,077

1,105,843

CAPITAL AND RESERVES

Called up share capital

50,002

50,002

Share premium

36

36

Other reserves

(144,048

)

(144,048

)

Retained earnings

1,215,087

1,199,853

SHAREHOLDERS' FUNDS

1,121,077

1,105,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 31 August 2023 and were signed on its behalf by:

Mr I Kershaw - Director

1.	STATUTORY INFORMATION

Tiles (UK) 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.

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments

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 27 (2022 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2022

1,356,487

1,338,675

2,695,162

Additions

-

40,780

40,780

At 30 April 2023

1,356,487

1,379,455

2,735,942

DEPRECIATION

At 1 May 2022

762,961

1,291,424

2,054,385

Charge for year

23,570

30,097

53,667

At 30 April 2023

786,531

1,321,521

2,108,052

NET BOOK VALUE

At 30 April 2023

569,956

57,934

627,890

At 30 April 2022

593,526

47,251

640,777

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2022

and 30 April 2023

11

NET BOOK VALUE

At 30 April 2023

11

At 30 April 2022

11

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

270,930

206,252

Other debtors

677,835

677,916

948,765

884,168

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts

232,082

165,283

Trade creditors

559,659

589,196

Taxation and social security

134,526

108,067

Other creditors

40,056

33,631

966,323

896,177

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans

310,425

371,862

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

28,050

89,487

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23

30.4.22

£

£

Mr I Kershaw

Balance outstanding at start of year

294,708

294,708

Amounts advanced

2,142

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

296,850

294,708

Miss A Bold

Balance outstanding at start of year

223,550

223,550

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

223,550

223,550

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of AM Bold by virtue of her 75% of the voting shares in the company.