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REGISTERED NUMBER: 04789449 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

TILE TRADER (STROUD) LIMITED

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TILE TRADER (STROUD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: D C Jones
Mrs G R Jones





SECRETARY: Mrs G R Jones





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





REGISTERED NUMBER: 04789449 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 187,675 205,150
187,675 205,150

CURRENT ASSETS
Stocks 55,390 66,388
Debtors 6 72,490 51,307
Cash at bank 20,165 30,074
148,045 147,769
CREDITORS
Amounts falling due within one year 7 142,679 149,087
NET CURRENT ASSETS/(LIABILITIES) 5,366 (1,318 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,041

203,832

CREDITORS
Amounts falling due after more than one
year

8

(37,153

)

(55,276

)

PROVISIONS FOR LIABILITIES (13,175 ) (8,224 )
NET ASSETS 142,713 140,332

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 142,513 140,132
SHAREHOLDERS' FUNDS 142,713 140,332

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

BALANCE SHEET - continued
31 JULY 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 27 January 2025 and were signed on its behalf by:




D C Jones - Director



Mrs G R Jones - Director


TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

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

1. STATUTORY INFORMATION

Tile Trader (Stroud) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised on the point of sale.

Goodwill
Goodwill, being £63,200 paid in connection with the acquisition of a business in 2004, has been fully amortised over its estimated useful life of four years.

Additional goodwill of £30,000 was the amount paid in connection with the acquisition of another business in 2006, and has also been fully amortised over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Leasehold Improvements - over the remaining life of the lease
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% 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.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial statements are recognised at amortised cost using the effective interest method.

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.

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 93,200
AMORTISATION
At 1 August 2023
and 31 July 2024 93,200
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

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

5. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property Improvements machinery
£    £    £   
COST
At 1 August 2023
and 31 July 2024 135,000 40,023 26,115
DEPRECIATION
At 1 August 2023 - 31,873 25,209
Charge for year - 1,937 225
At 31 July 2024 - 33,810 25,434
NET BOOK VALUE
At 31 July 2024 135,000 6,213 681
At 31 July 2023 135,000 8,150 906

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 96,746 308 298,192
DEPRECIATION
At 1 August 2023 35,897 63 93,042
Charge for year 15,212 101 17,475
At 31 July 2024 51,109 164 110,517
NET BOOK VALUE
At 31 July 2024 45,637 144 187,675
At 31 July 2023 60,849 245 205,150

The net book value of tangible fixed assets includes £36,968 (2023 - £49,290) in respect of assets
held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,470 2,039
Other debtors 1,922 1,922
Directors' current accounts 66,651 45,694
Prepayments 447 1,652
72,490 51,307

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,462 77,316
Hire purchase contracts 10,352 9,979
Trade creditors 16,612 13,554
Corporation tax 30,847 24,079
Other Taxation and Social Security 7,532 (4,845 )
Pensions control account 3,066 997
VAT 8,106 26,007
Accruals and deferred income 3,702 2,000
142,679 149,087

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 8,605 18,681
Hire purchase contracts 28,548 36,595
37,153 55,276

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 52,387 67,485
Hire purchase contracts 38,900 46,574
91,287 114,059

The hire purchase liabilities are secured over the assets to which they relate.

The Bank has a fixed and floating charge over all of the assets of the Company.

10. OTHER FINANCIAL COMMITMENTS

The company had total contingencies and commitments at the year end of £12,812 (2023: £324).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
D C Jones and Mrs G R Jones
Balance outstanding at start of year 45,694 39,952
Amounts advanced 125,804 111,415
Amounts repaid (104,847 ) (105,673 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,651 45,694

TILE TRADER (STROUD) LIMITED (REGISTERED NUMBER: 04789449)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest is being charged on the loan at the HMRC approved rate if it is overdrawn and there are no set repayment terms.