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REGISTERED NUMBER: 01181030 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE YORKSHIRE TILE COMPANY LIMITED

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE YORKSHIRE TILE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S Firth
Mrs S A Firth
Mrs H Wild
Mr M J Webster
Mr R Firth
Mr C M Wild





SECRETARY: Mr M J Webster





REGISTERED OFFICE: Hill Street/Bramall Lane
Sheffield
South Yorkshire
S2 4SP





REGISTERED NUMBER: 01181030 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 234,259 208,897
Investments 5 840 840
Investment property 6 130,000 130,000
365,099 339,737

CURRENT ASSETS
Stocks 687,792 648,821
Debtors 7 457,596 516,509
Cash in hand 2,013 124
1,147,401 1,165,454
CREDITORS
Amounts falling due within one year 8 1,098,235 1,060,804
NET CURRENT ASSETS 49,166 104,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

414,265

444,387

CREDITORS
Amounts falling due after more than one
year

9

(133,939

)

(166,175

)

PROVISIONS FOR LIABILITIES (43,790 ) (42,360 )
NET ASSETS 236,536 235,852

CAPITAL AND RESERVES
Called up share capital 170 170
Share premium 12 7,304 7,304
Capital redemption reserve 12 19,830 19,830
Fair value reserve 12 3,674 3,674
Retained earnings 12 205,558 204,874
236,536 235,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





Mr S Firth - Director


THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Yorkshire Tile Company 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. The valuation of the property at the reporting date is stated in notes to the accounts.

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, tools and equipment - 20% on cost
Motor vehicles - 15% on cost

Investment property
Investment property is shown at fair value at each reporting date with changes in fair value recognised in profit or loss.

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 Profit and Loss Account, 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.


THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Leases
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 24 (2022 - 24 ) .

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
tools and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 336,901 301,462 638,363
Additions 4,257 106,573 110,830
Disposals (46,282 ) (63,258 ) (109,540 )
At 31 December 2023 294,876 344,777 639,653
DEPRECIATION
At 1 January 2023 267,851 161,615 429,466
Charge for year 29,927 45,151 75,078
Eliminated on disposal (46,282 ) (52,868 ) (99,150 )
At 31 December 2023 251,496 153,898 405,394
NET BOOK VALUE
At 31 December 2023 43,380 190,879 234,259
At 31 December 2022 69,050 139,847 208,897


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 840
NET BOOK VALUE
At 31 December 2023 840
At 31 December 2022 840

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 130,000
NET BOOK VALUE
At 31 December 2023 130,000
At 31 December 2022 130,000

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2020 534
Valuation in 2021 4,000
Cost 125,466
130,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 125,466 125,466

The investment property was valued at the balance sheet date by the directors of the company who are not professionally qualified valuers. The fair value has been determined by reference to market factors including evidence of transaction prices for similar property in the location where the property is situated.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 415,054 485,833
Other debtors 42,542 30,676
457,596 516,509

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 248,551 284,282
Hire purchase contracts and finance leases (see note 10)
14,424

32,335
Trade creditors 676,969 532,013
Corporation tax 17,018 34,699
Other taxes and social security 91,012 129,813
Other creditors 37,636 37,106
Directors' current accounts 12,625 10,556
1,098,235 1,060,804

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 70,000 70,000
Bank loans - 2-5 years 23,334 93,333
Hire purchase contracts and finance leases (see note 10)
40,605

2,842
133,939 166,175

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2023 2022 2023 2022
£    £    £    £   
Gross obligations repayable:
Within one year 10,651 18,395 8,029 14,385
Between one and five years 17,467 1,543 28,649 1,300
28,118 19,938 36,678 15,685

Finance charges repayable:
Within one year 1,554 376 2,702 69
Between one and five years 1,266 1 4,245 -
2,820 377 6,947 69

Net obligations repayable:
Within one year 9,097 18,019 5,327 14,316
Between one and five years 16,201 1,542 24,404 1,300
25,298 19,561 29,731 15,616

Non-cancellable operating leases
2023 2022
£    £   
Within one year 143,517 74,159
Between one and five years 506,625 19,733
In more than five years 527,047 -
1,177,189 93,892

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 178,551 214,282
Bank loans 163,334 233,333
Hire purchase contracts and finance leases 55,029 35,177
396,914 482,792

The bank overdraft and bank loan are secured by fixed and floating charges over the company's assets.

Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. RESERVES
Capital Fair
Retained Share redemption value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 January 2023 204,874 7,304 19,830 3,674 235,682
Profit for the year 65,184 65,184
Dividends (64,500 ) (64,500 )
At 31 December 2023 205,558 7,304 19,830 3,674 236,366