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REGISTERED NUMBER: 05368831 (England and Wales)











REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

FOR

TILE MERCHANTS LIMITED

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)






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




Page

Company Information 1

Report of the Directors 2

Profit and loss account 3

Balance Sheet 4

Statement of Changes in Equity 5

Notes to the Financial Statements 6


TILE MERCHANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S D Miller
C R Miller





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





BUSINESS ADDRESS: Units 30-36 Ivatt Way
Westwood Industrial Estate
Westwood
Peterborough
Cambridgeshire
PE3 7PN





REGISTERED NUMBER: 05368831 (England and Wales)





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

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

S D Miller
C R Miller

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S D Miller - Director


30 May 2025

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 8,515,262 9,945,678

Cost of sales (7,030,041 ) (7,448,735 )
GROSS PROFIT 1,485,221 2,496,943

Distribution costs (589,655 ) (622,868 )
Administrative expenses (1,021,544 ) (895,228 )
(125,978 ) 978,847

Other operating income 302,984 -
177,006 978,847

Interest receivable and similar income 31,644 5,771
PROFIT BEFORE TAXATION 208,650 984,618

Tax on profit 5 (52,181 ) (216,717 )
PROFIT FOR THE FINANCIAL YEAR 156,469 767,901

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 6 3,985,310 4,019,015
Cash at bank 1,515,823 1,176,045
5,501,133 5,195,060
CREDITORS
Amounts falling due within one year 7 (3,174,234 ) (3,024,630 )
NET CURRENT ASSETS 2,326,899 2,170,430
TOTAL ASSETS LESS CURRENT LIABILITIES 2,326,899 2,170,430

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 2,326,897 2,170,428
SHAREHOLDERS' FUNDS 2,326,899 2,170,430

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:




S D Miller - Director



C R Miller - Director


TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 2 1,402,527 1,402,529

Changes in equity
Total comprehensive income - 767,901 767,901
Balance at 30 September 2023 2 2,170,428 2,170,430

Changes in equity
Total comprehensive income - 156,469 156,469
Balance at 30 September 2024 2 2,326,897 2,326,899

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

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

1. STATUTORY INFORMATION

Tile Merchants 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. 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 Companies Act 2006.

3. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover shown in the profit and loss account represents both the invoiced and cash sale of floor and wall tiles excluding value added tax.

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.

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.

4. EMPLOYEES AND DIRECTORS

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

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

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

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 52,181 216,717
Tax on profit 52,181 216,717

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,210,748 2,238,988
Other debtors 1,774,562 1,780,027
3,985,310 4,019,015

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 113,593 113,952
Amounts owed to group undertakings 2,000,000 2,000,000
Taxation and social security 83,007 260,118
Other creditors 977,634 650,560
3,174,234 3,024,630

8. LEASING AGREEMENTS

An operating lease exists as rent payable of £80,000 per annum on a rolling twelve month basis.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. OTHER FINANCIAL COMMITMENTS

The company has a financial commitment in respect of the rental for its use of commercial premises amounting to £80,000 on a rolling twelve month basis.

TILE MERCHANTS LIMITED (REGISTERED NUMBER: 05368831)

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

11. RELATED PARTY DISCLOSURES

The company was charged £380,234 (2023: £377,747) in relation to the recharge of staff costs. The total amount due at the balance sheet date from companies under common control of the directors amounted to £1,471,575 (2023: £1,780,025) and is included within other debtors due in less than one year.

The company was also charged a management fee of £350,600 (2023: £250,000) by a company under the control of the directors. The total balance owed to companies under common control amounted to £974,833 (2023:£647,911). These balances are interest free.

The company also raised management fee income of £308,450 (2023: nil) to a company under common control. The amount due to the company at the balance sheet date is £308,450 (2023: nil) and is included within other debtors.

Included in amounts owed to group undertakings within creditors is a loan of £2,000,000 (2023: £2,000,000). This loan is interest free and repayable on demand.