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Registration number: 04623473

Dial - A - Tile Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dial - A - Tile Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Dial - A - Tile Limited

(Registration number: 04623473)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

90,000

97,500

Tangible assets

5

6,477

8,529

 

96,477

106,029

Current assets

 

Stocks

6

40,763

51,231

Debtors

7

482,940

524,520

Cash at bank and in hand

 

98,227

63,285

 

621,930

639,036

Creditors: Amounts falling due within one year

8

(235,528)

(235,770)

Net current assets

 

386,402

403,266

Total assets less current liabilities

 

482,879

509,295

Creditors: Amounts falling due after more than one year

8

(16,863)

(25,348)

Provisions for liabilities

(1,619)

(1,619)

Net assets

 

464,397

482,328

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

463,397

481,328

Shareholders' funds

 

464,397

482,328

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Dial - A - Tile Limited

(Registration number: 04623473)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

.........................................
T Davies
Director

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
33-41 Church Street
Grimsby
N E Lincs
DN32 7DD

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in pounds sterling and are rounded to the nearest £1.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemptions provided by section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% Reducing balance

Motor vehicles

25% Reducing balance

Computer equipment

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 20 years

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company makes pension contributions for directors and staff under the auto-enrolment regulations.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 12 (2023 - 12).

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

150,000

150,000

At 31 March 2024

150,000

150,000

Amortisation

At 1 April 2023

52,500

52,500

Amortisation charge

7,500

7,500

At 31 March 2024

60,000

60,000

Carrying amount

At 31 March 2024

90,000

90,000

At 31 March 2023

97,500

97,500

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

35,530

6,304

41,510

83,344

At 31 March 2024

35,530

6,304

41,510

83,344

Depreciation

At 1 April 2023

33,921

5,140

35,754

74,815

Charge for the year

322

291

1,439

2,052

At 31 March 2024

34,243

5,431

37,193

76,867

Carrying amount

At 31 March 2024

1,287

873

4,317

6,477

At 31 March 2023

1,609

1,164

5,756

8,529

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

40,763

51,231

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

42,326

88,759

Prepayments

7,342

7,991

Other debtors

433,272

427,770

 

482,940

524,520

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

8,485

10,201

Trade creditors

 

43,986

46,452

Taxation and social security

 

38,214

53,028

Accruals and deferred income

 

59,206

73,733

Other creditors

 

85,637

52,356

 

235,528

235,770

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £1,925).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

16,863

25,348

2024
£

2023
£

Due after more than five years

-

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £Nil).

 

Dial - A - Tile Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

16,863

25,348

2024
£

2023
£

Current loans and borrowings

Bank borrowings

8,485

10,201

11

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £59,596.00 (2023 - £72,727.00) per ordinary share

 

59,596

 

72,727

         

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,179 (2023 - £7,104).