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REGISTERED NUMBER: 04878339 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

NICK FIRTH TILES LIMITED

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NICK FIRTH TILES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: N Firth
S K Fairbank





SECRETARY: N Firth





REGISTERED OFFICE: 414 - 416 Brightside Lane
Sheffield
South Yorkshire
S9 2SP





REGISTERED NUMBER: 04878339 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 121,294 133,490
121,294 133,490

CURRENT ASSETS
Stocks 313,119 338,003
Debtors 6 213,565 307,004
Cash at bank 261,347 291,851
788,031 936,858
CREDITORS
Amounts falling due within one year 7 389,296 509,769
NET CURRENT ASSETS 398,735 427,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

520,029

560,579

CREDITORS
Amounts falling due after more than one
year

8

(79,828

)

(97,687

)

PROVISIONS FOR LIABILITIES (3,491 ) (3,362 )
NET ASSETS 436,710 459,530

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 436,610 459,430
436,710 459,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

BALANCE SHEET - continued
30 SEPTEMBER 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 23 April 2025 and were signed on its behalf by:





N Firth - Director


NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Nick Firth Tiles 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.

Goodwill
Goodwill has been amortised over its estimated useful life.

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 and fittings - 25% on reducing balance
Motor vehicles & plant - 25% on reducing balance
Computer equipment - 20% 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 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.

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.

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives.The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 13 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 250,000
AMORTISATION
At 1 October 2023
and 30 September 2024 250,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Fixtures Motor
and vehicles Computer
fittings & plant equipment Totals
£    £    £    £   
COST
At 1 October 2023 11,632 157,176 15,356 184,164
Additions - - 4,145 4,145
Disposals (9,890 ) (225 ) - (10,115 )
At 30 September 2024 1,742 156,951 19,501 178,194
DEPRECIATION
At 1 October 2023 9,683 29,308 11,683 50,674
Charge for year 377 14,667 848 15,892
Eliminated on disposal (9,443 ) (223 ) - (9,666 )
At 30 September 2024 617 43,752 12,531 56,900
NET BOOK VALUE
At 30 September 2024 1,125 113,199 6,970 121,294
At 30 September 2023 1,949 127,868 3,673 133,490


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 206,507 269,252
Other debtors 7,058 37,752
213,565 307,004

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 17,857 16,979
Trade creditors 262,589 351,866
Corporation tax 51,857 66,673
Other taxes and social security 51,385 67,501
Other creditors 5,156 5,977
Directors' current accounts 452 773
389,296 509,769

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases (see note 9) 79,828 97,687

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Gross obligations repayable:
Within one year 22,404 22,404
Between one and five years 86,150 108,555
108,554 130,959

Finance charges repayable:
Within one year 4,547 5,425
Between one and five years 6,322 10,868
10,869 16,293

Net obligations repayable:
Within one year 17,857 16,979
Between one and five years 79,828 97,687
97,685 114,666

Non-cancellable operating leases
2024 2023
£    £   
Within one year 118,000 118,000
Between one and five years 472,000 472,000
In more than five years 334,333 452,333
924,333 1,042,333

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 97,685 114,666

Obligations under finance leases are secured on the assets to which they relate.

The bank loans were secured by a charge over the company's assets.

NICK FIRTH TILES LIMITED (REGISTERED NUMBER: 04878339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
S K Fairbank
Balance outstanding at start of year - -
Amounts advanced - 2,392
Amounts repaid - (2,392 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

N Firth
Balance outstanding at start of year - -
Amounts advanced 19,936 -
Amounts repaid (19,936 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -