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REGISTERED NUMBER: 04205274 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Wight Tile Limited

Wight Tile Limited (Registered number: 04205274)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wight Tile Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr P Newland
Mrs A Newland.



SECRETARY: Mrs A Newland.



REGISTERED OFFICE: 16c Sandown Road
Lake
Isle of Wight
PO36 9JP



REGISTERED NUMBER: 04205274 (England and Wales)



ACCOUNTANTS: Allegri & Co.
16c Sandown Road
Lake
Isle of Wight
PO36 9JP



BANKERS: HSBC
5 Regent Street
Shanklin
Isle of Wight
PO37 7AF

Wight Tile Limited (Registered number: 04205274)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 882 1,117

CURRENT ASSETS
Stocks 18,500 35,208
Debtors 5 147,808 131,700
Cash at bank 252 3,828
166,560 170,736
CREDITORS
Amounts falling due within one year 6 170,078 135,047
NET CURRENT (LIABILITIES)/ASSETS (3,518 ) 35,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,636

)

36,806

CREDITORS
Amounts falling due after more than one
year

7

43,442

41,293
NET LIABILITIES (46,078 ) (4,487 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (46,080 ) (4,489 )
SHAREHOLDERS' FUNDS (46,078 ) (4,487 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Wight Tile Limited (Registered number: 04205274)

Balance Sheet - continued
31 May 2023


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 16 February 2024 and were signed on its behalf by:





Mr P Newland - Director


Wight Tile Limited (Registered number: 04205274)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Wight Tile 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 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.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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

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 4 (2022 - 4 ) .

Wight Tile Limited (Registered number: 04205274)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 25,815
DEPRECIATION
At 1 June 2022 24,698
Charge for year 235
At 31 May 2023 24,933
NET BOOK VALUE
At 31 May 2023 882
At 31 May 2022 1,117

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 5,250 11,500
Other debtors 142,558 120,200
147,808 131,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 22,616 -
Trade creditors 27,245 22,300
Taxation and social security 112,645 107,862
Other creditors 7,572 4,885
170,078 135,047

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 43,442 41,293

Wight Tile Limited (Registered number: 04205274)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
Mr P Newland and Mrs A Newland.
Balance outstanding at start of year 120,200 71,420
Amounts advanced 30,991 48,780
Amounts repaid (8,633 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 142,558 120,200