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REGISTERED NUMBER: OC309331 (England and Wales)











REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

FOR

CUT PRICE TILES & BATHROOMS LLP

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)






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




Page

General Information 1

Report of the Members 2

Profit and loss account 3

Balance Sheet 4

Notes to the Financial Statements 6


CUT PRICE TILES & BATHROOMS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DESIGNATED MEMBERS: S D Miller
C R Miller





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





REGISTERED NUMBER: OC309331 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The members present their report with the financial statements of the LLP for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the retail of ceramic tiles.

DESIGNATED MEMBERS
The designated members during the year under review were:

S D Miller
C R Miller

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £4,886 (2023 - £15,893 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them of amounts agreed by the members up to a limit of the amounts available in the partnership bank account.
Capital is subscribed by members as required by the members and is repayable on retirement, death or expulsion.

ON BEHALF OF THE MEMBERS:





S D Miller - Designated member


3 June 2025

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3,480,350 3,540,875

Cost of sales (1,940,065 ) (2,091,688 )
GROSS PROFIT 1,540,285 1,449,187

Administrative expenses (1,535,399 ) (1,461,294 )
4,886 (12,107 )

Other operating income - 28,000
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


5


4,886


15,893

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


4,886


15,893

Members' remuneration charged as an
expense

6

(4,886

)

(15,893

)
PROFIT FOR THE FINANCIAL YEAR AVAILABLE
FOR DISCRETIONARY DIVISION AMONG
MEMBERS


-


-

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 7 56,651 70,968

CURRENT ASSETS
Stocks 192,424 319,017
Debtors 8 577,991 134,078
Cash at bank and in hand 127,377 158,239
897,792 611,334
CREDITORS
Amounts falling due within one year 9 (954,443 ) (682,302 )
NET CURRENT LIABILITIES (56,651 ) (70,968 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

-

-

LOANS AND OTHER DEBTS DUE TO MEMBERS - -

TOTAL MEMBERS' INTERESTS
Amounts due from members 8 (234,717 ) (38,596 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 September 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 3 June 2025 and were signed by:




S D Miller - Designated member




C R Miller - Designated member


CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

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

1. STATUTORY INFORMATION

Cut Price Tiles & Bathrooms LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Doubtful debts:
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Turnover
Turnover is derived from the retail of ceramic tiles in the United Kingdom and represents both cash and account income, receivable in respect of the year excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property alterations - 10% on cost
Equipment and fixtures - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

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

4. EMPLOYEE INFORMATION

The average number of employees during the year was 26 (2023 - 26 ) .

5. PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

The profit for the financial year before members' remuneration and profit shares is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 14,317 17,581

6. INFORMATION IN RELATION TO MEMBERS
2024 2023
£    £   
Members' remuneration charged as an expense
Automatic division of profit 4,886 15,893

7. TANGIBLE FIXED ASSETS
Leasehold Equipment
property and Motor
alterations fixtures vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 58,905 55,481 120,247 234,633
DEPRECIATION
At 1 October 2023 29,562 53,039 81,064 163,665
Charge for year 3,707 814 9,796 14,317
At 30 September 2024 33,269 53,853 90,860 177,982
NET BOOK VALUE
At 30 September 2024 25,636 1,628 29,387 56,651
At 30 September 2023 29,343 2,442 39,183 70,968

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 98,447 39,125
Amounts due from members 234,717 38,596
Other debtors 22,522 33,857
Prepayments and accrued income 222,305 22,500
577,991 134,078

CUT PRICE TILES & BATHROOMS LLP (REGISTERED NUMBER: OC309331)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,374 -
Trade creditors 854,442 568,979
Social security and other taxes 17,970 17,909
VAT 50,515 45,066
Other creditors 18,470 17,252
Accrued expenses 7,672 33,096
954,443 682,302

10. RELATED PARTY DISCLOSURES

During the year under review the LLP had amounts due from the designated members of £234,717 (2023:£38,596).