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Logo On Report
Registered Number: 08064962
England and Wales

 

 

 

TILESANDSTONEDIRECT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts TILESANDSTONEDIRECT Limited for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TILESANDSTONEDIRECT Limited for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of TILESANDSTONEDIRECT Limited , as a body, in accordance with the terms of our engagement letter dated 12 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of TILESANDSTONEDIRECT Limited and state those matters that we have agreed to state to the Board of Directors of TILESANDSTONEDIRECT Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TILESANDSTONEDIRECT Limited and its Board of Directors as a body for our work or for this report
It is your duty to ensure that TILESANDSTONEDIRECT Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit TILESANDSTONEDIRECT Limited. You consider that TILESANDSTONEDIRECT Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of TILESANDSTONEDIRECT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
12 January 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 3,066    4,088 
3,066    4,088 
Current assets      
Stocks 23,000    25,000 
Debtors 79,238    8,053 
Cash at bank and in hand 359,327    630,843 
461,565    663,896 
Creditors: amount falling due within one year (31,430)   (235,211)
Net current assets 430,135    428,685 
 
Total assets less current liabilities 433,201    432,773 
Provisions for liabilities (1,336)   (987)
Net assets 431,865    431,786 
 

Capital and reserves
     
Called up share capital 5 12    12 
Profit and loss account 431,853    431,774 
Shareholder's funds 431,865    431,786 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 January 2024 and were signed by:


-------------------------------
Dhanasagren Naidoo
Director
2
General Information
TILESANDSTONEDIRECT Limited is a private company, limited by shares, registered in England and Wales, registration number 08064962, registration address Unit 2 Cuton Hall Lane, Springfield Trading Estate, Chelmsford, Essex, CM2 6PB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 140,000    140,000 
Additions  
Disposals  
At 31 October 2023 140,000    140,000 
Amortisation
At 01 November 2022 140,000    140,000 
Charge for year  
On disposals  
At 31 October 2023 140,000    140,000 
Net book values
At 31 October 2023  
At 31 October 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 November 2022 3,001    8,855    292    13,128    25,276 
Additions        
Disposals        
At 31 October 2023 3,001    8,855    292    13,128    25,276 
Depreciation
At 01 November 2022 2,832    6,754    73    11,529    21,188 
Charge for year 42    525    55    400    1,022 
On disposals        
At 31 October 2023 2,874    7,279    128    11,929    22,210 
Net book values
Closing balance as at 31 October 2023 127    1,576    164    1,199    3,066 
Opening balance as at 01 November 2022 169    2,101    219    1,599    4,088 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
12 Class A shares of £1.00 each 12    12 
12    12 

3