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REGISTERED NUMBER: 08349452 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TILE WORLD (SOUTH EAST) LIMITED

TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

TILE WORLD (SOUTH EAST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J G Ferrznolo
M C Ferrznolo





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: 08349452 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,134 18,370

CURRENT ASSETS
Stocks 17,750 3,500
Debtors 5 6,870 9,700
Cash at bank and in hand 87,783 114,263
112,403 127,463
CREDITORS
Amounts falling due within one year 6 85,080 86,581
NET CURRENT ASSETS 27,323 40,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,457

59,252

CREDITORS
Amounts falling due after more than one
year

7

(12,744

)

(22,444

)

PROVISIONS FOR LIABILITIES (2,495 ) (3,490 )
NET ASSETS 25,218 33,318

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 24,975 24,975
Retained earnings 143 8,243
SHAREHOLDERS' FUNDS 25,218 33,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





J G Ferrznolo - Director


TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Tile World (South East) 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.

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.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax. Turnover is recognized when the company receives the right to consideration.

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 - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.

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.

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.

TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 25,700 8,267 9,995 2,880 46,842
DEPRECIATION
At 1 February 2023 13,775 6,104 6,024 2,569 28,472
Charge for year 3,965 324 794 153 5,236
At 31 January 2024 17,740 6,428 6,818 2,722 33,708
NET BOOK VALUE
At 31 January 2024 7,960 1,839 3,177 158 13,134
At 31 January 2023 11,925 2,163 3,971 311 18,370

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,870 9,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,560 10,913
Trade creditors 53,808 37,700
Tax 10,307 15,768
Social security and other taxes (535 ) (535 )
VAT 7,627 8,016
Directors' current accounts 263 11,817
Accrued expenses 3,050 2,902
85,080 86,581

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 10,560 10,860
Bank loans - 2-5 years 2,184 11,584
12,744 22,444

TILE WORLD (SOUTH EAST) LIMITED (REGISTERED NUMBER: 08349452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors loan accounts exist to which there are no terms attached.

At the start of the year, Mr J Ferrznolo was owed £4,698 by the company. During the year, the company advanced the director £8,640 and the director repaid £4,083. At the year end, the director was owed £141 by the company.

At the start of the year, Mr M Ferrznolo was owed £7,119, by the company. During the year, the company advanced the director £6,997. At the year end, the director was owed £122 by the company.

Amounts have been aggregated where appropriate and there were no material transactions to record. The loans are repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TILE WORLD (SOUTH EAST) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tile World (South East) Limited for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tile World (South East) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tile World (South East) Limited and state those matters that we have agreed to state to the Board of Directors of Tile World (South East) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tile World (South East) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tile World (South East) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tile World (South East) Limited. You consider that Tile World (South East) 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 financial statements of Tile World (South East) 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 financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


29 August 2024