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REGISTERED NUMBER: 01181030 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024




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 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 242,326 234,259
Investments 5 840 840
Investment property 6 135,980 130,000
379,146 365,099

CURRENT ASSETS
Stocks 626,979 687,792
Debtors 7 471,731 457,596
Cash in hand 2,015 2,013
1,100,725 1,147,401
CREDITORS
Amounts falling due within one year 8 1,103,414 1,098,235
NET CURRENT (LIABILITIES)/ASSETS (2,689 ) 49,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,457

414,265

CREDITORS
Amounts falling due after more than one
year

9

(107,952

)

(133,939

)

PROVISIONS FOR LIABILITIES (41,900 ) (43,790 )
NET ASSETS 226,605 236,536

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 8,518 3,674
Retained earnings 12 190,783 205,558
226,605 236,536

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

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

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

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

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 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 2024

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 - 50% on cost, 33% on cost and 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 2024

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 26 (2023 - 24 ) .

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

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

4. TANGIBLE FIXED ASSETS
Fixtures,
tools and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2024 294,876 344,777 639,653
Additions 2,414 80,015 82,429
Disposals - (14,652 ) (14,652 )
At 31 December 2024 297,290 410,140 707,430
DEPRECIATION
At 1 January 2024 251,496 153,898 405,394
Charge for year 17,284 54,771 72,055
Eliminated on disposal - (12,345 ) (12,345 )
At 31 December 2024 268,780 196,324 465,104
NET BOOK VALUE
At 31 December 2024 28,510 213,816 242,326
At 31 December 2023 43,380 190,879 234,259


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 840
NET BOOK VALUE
At 31 December 2024 840
At 31 December 2023 840

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 130,000
Revaluations 5,980
At 31 December 2024 135,980
NET BOOK VALUE
At 31 December 2024 135,980
At 31 December 2023 130,000

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2020 534
Valuation in 2021 4,000
Valuation in 2024 5,980
Cost 125,466
135,980

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

2024 2023
£    £   
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
2024 2023
£    £   
Trade debtors 423,140 415,054
Other debtors 48,591 42,542
471,731 457,596

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 352,840 248,551
Hire purchase contracts and finance leases (see note 10)
26,437

14,424
Trade creditors 511,457 676,969
Corporation tax - 17,018
Other taxes and social security 140,410 91,012
Other creditors 63,730 37,636
Directors' current accounts 8,540 12,625
1,103,414 1,098,235

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 23,334 70,000
Bank loans - 2-5 years - 23,334
Hire purchase contracts and finance leases (see note 10)
84,618

40,605
107,952 133,939

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2024 2023 2024 2023
£    £    £    £   
Gross obligations repayable:
Within one year 25,842 10,651 8,029 8,029
Between one and five years 69,963 17,467 20,620 28,649
95,805 28,118 28,649 36,678

Finance charges repayable:
Within one year 5,276 1,554 2,158 2,702
Between one and five years 3,877 1,266 2,088 4,245
9,153 2,820 4,246 6,947

Net obligations repayable:
Within one year 20,566 9,097 5,871 5,327
Between one and five years 66,086 16,201 18,532 24,404
86,652 25,298 24,403 29,731

Non-cancellable operating leases
2024 2023
£    £   
Within one year 135,913 143,517
Between one and five years 493,712 506,625
In more than five years 404,047 527,047
1,033,672 1,177,189

THE YORKSHIRE TILE COMPANY LIMITED (REGISTERED NUMBER: 01181030)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 282,840 178,551
Bank loans 93,334 163,334
Hire purchase contracts and finance leases 111,055 55,029
487,229 396,914

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.

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

At 1 January 2024 205,558 7,304 19,830 3,674 236,366
Profit for the year 69 69
Dividends (10,000 ) (10,000 )
Reserves transfer -
revaluations

(5,980

)

-

-

5,980

-
Deferred tax on
revaluation of investment
property


1,136


-


-


(1,136


)


-
At 31 December 2024 190,783 7,304 19,830 8,518 226,435