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The Wright Tile, Stone & Bathroom Centre Ltd
 
 
Company Registration Number
07662673
 
 
Report of the Directors and
Abridged Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/04/2023
 
End date 31/03/2024
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
The Wright Tile, Stone & Bathroom Centre Ltd
 
Contents of the Financial Statements
for the Period Ended 31 March 2024
 
 
Page
Company Information 3
 
Abridged Balance Sheet 4 - 5
 
Notes to the Financial Statements 6 - 9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
The Wright Tile, Stone & Bathroom Centre Ltd
Company Information
for the Period Ended 31 March 2024
 
Directors Peter Andrew Wright
Peter David Antony Wright
 
 
Registered office Unit 3-5, Ground Floor
Harmill Industrial Estate
Leighton Buzzard
LU7 4FF
 
Company Registration Number 07662673
 
Accountants Name Derngate Advisory Services Ltd
Address 10 Lenton Close
Broughton
Kettering
Northants
NN14 1PG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
The Wright Tile, Stone & Bathroom Centre Ltd
Balance Sheet
for the Period Ended 31 March 2024
Company registration number 07662673
2024 2,023
Notes £ £
Fixed assets
Tangible fixed assets 2 83,634 109,510
_______ _______
Total fixed assets 83,634 109,510
Current assets
Stocks 3 88,500 123,984
Debtors 4 141,871 90,336
Cash at bank and in hand 19,672 27,706
_______ _______
Total current assets/(liabilities) 250,043 242,026
Creditors
Creditors - amounts falling
due within one year 5 138,519 180,265
_______ _______
Net current assets 111,524 61,761
_______ _______
Total assets less current liabilities 195,158 171,271
_______ _______
Creditors - amounts falling
due after more than one year 6 142,984 144,638
_______ _______
Long term creditors 142,984 144,638
_____ _____
Net assets/(liabilities) 52,174 26,633
Capital and reserves
Called up share capital 7 10 10
Profit and loss account 8 52,164 26,623
________ _____
Total shareholders funds 52,174 26,633
 
 
 
 
 
 
 
Page 4
The Wright Tile, Stone & Bathroom Centre Ltd
 
Balance Sheet
for the Period Ended 31 March 2024
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The option not to file the profit and loss account has been taken.
 
For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The members have agreed to the preparation of abridged accounts.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2024-04-11
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Peter Andrew Wright
 
The notes form part of these financial statements
Average number of employees during period 5
 
 
 
 
 
 
 
Page 5
The Wright Tile, Stone & Bathroom Centre Ltd
Notes to the Financial Statements
for the Period Ended 31 March 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 20% Written Down Value
Office equipment 20% Written Down Value
Motor vehicles 25% Written Down Value
Plant and machinery 20% Written Down Value
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
The company operates a defined contribution pension scheme for employees. The annual contributionspayable are charged to the profit and loss account.
 
 
 
 
 
 
 
 
 
 
 
 
Page 6
The Wright Tile, Stone & Bathroom Centre Ltd
Notes to the Financial Statements
for the Period Ended 31 March 2024
2. Tangible fixed assets
Plant and Fixtures Office Motor Total
machinery and fittings equipment vehicles
Cost £ £ £ £ £
At 1 April 2023 138,000 11,745 13,244 156,844 319,833
______ _____ _____ ______ ______
At 31 March 2024 138,000 11,745 13,244 156,844 319,833
Depreciation
At 1 April 2023 112,532 9,259 11,163 77,369 210,323
Charge for year 5,094 497 416 19,869 25,876
______ ____ _____ _____ ______
At 31 March 2024 117,626 9,756 11,579 97,238 236,199
Net book value
At 31 March 2024 20,374 1,989 1,665 59,606 83,634
At 31 March 2023 25,468 2,486 2,081 79,475 109,510
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 7
The Wright Tile, Stone & Bathroom Centre Ltd
Notes to the Financial Statements
for the Period Ended 31 March 2024
3. Stocks 2024 2,023
Raw materials 88,500 123,984
Total 88,500 123,984
4. Debtors 2024 2,023
Trade debtors 141,871 90,336
______ _____
Total 141,871 90,336
5. Creditors amounts falling due within one year 2024 2,023
Trade creditors 46,723 117,788
Corporation tax 17,278 7,801
Other taxation and social security 73,418 53,576
Accruals and deferred income 1,100 1,100
______ ______
Total 138,519 180,265
6. Creditors amounts falling due after more than one year 2024 2,023
Bank loans 18,182 29,918
Amounts due under finance leases and
hire purchase contracts 33,571 50,425
Other creditors 91,231 64,295
______ ______
Total 142,984 144,638
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
The Wright Tile, Stone & Bathroom Centre Ltd
Notes to the Financial Statements
for the Period Ended 31 March 2024
7. Share capital 2024 2,023
Authorised type Par value £ £
Ordinary Shares 1 1,000 1,000
____ ____
Total 1,000 1,000
Allotted, called up and paid £ £
Ordinary Shares 10 10
__ __
Total 10 10
8. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 April 2023 26,623
Profit/(Loss) for year 25,541
Dividends paid
________
Retained Profit/(Loss) at 31 March 2024 52,164
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9