UK Tiles Direct Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05678653 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

UK Tiles Direct Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

S D Middleton

D J Burgess

SECRETARY:

D R Middleton

REGISTERED OFFICE:

Unit 9

Justin Business Park

Sandford Lane

Wareham

Dorset

BH20 4DY

REGISTERED NUMBER:

05678653 (England and Wales)

ACCOUNTANTS:

Ward Goodman

18 West Street

Wareham

Dorset

BH20 4JX

FIXED ASSETS

Intangible assets

2

9,600

10,200

Tangible assets

3

165,459

166,208

175,059

176,408

CURRENT ASSETS

Stocks

20,000

11,500

Debtors

66,599

120,332

Cash at bank and in hand

8,283

525

94,882

132,357

CREDITORS

Amounts falling due within one year

4

147,177

156,181

NET CURRENT LIABILITIES

(52,295

)

(23,824

)

TOTAL ASSETS LESS CURRENT LIABILITIES

122,764

152,584

CREDITORS

Amounts falling due after more than one year

4

86,717

90,193

NET ASSETS

36,047

62,391

CAPITAL AND RESERVES

Called up share capital

5

300

300

Profit and loss account

35,747

62,091

SHAREHOLDERS' FUNDS

36,047

62,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 October 2014 and were signed on its behalf by:

D J Burgess - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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.

Long leasehold

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

12,000

AMORTISATION

At 1 April 2013

1,800

Amortisation for year

600

At 31 March 2014

2,400

NET BOOK VALUE

At 31 March 2014

9,600

At 31 March 2013

10,200

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

235,526

Additions

10,906

At 31 March 2014

246,432

DEPRECIATION

At 1 April 2013

69,318

Charge for year

11,655

At 31 March 2014

80,973

NET BOOK VALUE

At 31 March 2014

165,459

At 31 March 2013

166,208

4.

CREDITORS

Creditors include an amount of £ 98,589 (2013 - £ 104,281 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

46,855

56,238

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

200

Ordinary

£1

200

200

100

Ordinary 'A'

£1

100

100

300

300