Company registration number 05434660 (England and Wales)
FOLKESTONE AND WALMER TILE CENTRES LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FOLKESTONE AND WALMER TILE CENTRES LTD
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
FOLKESTONE AND WALMER TILE CENTRES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 June 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M R Hocking
Mr R J Goode
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr M R Hocking
Director
23 June 2025
FOLKESTONE AND WALMER TILE CENTRES LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
9,000
18,000
Tangible assets
4
482,966
479,761
491,966
497,761
Current assets
Stocks
1,834
1,834
Debtors
5
3,722
4,991
Cash at bank and in hand
30
1,377
5,586
8,202
Creditors: amounts falling due within one year
6
(414,895)
(436,241)
Net current liabilities
(409,309)
(428,039)
Total assets less current liabilities
82,657
69,722
Provisions for liabilities
(3,629)
(3,629)
Net assets
79,028
66,093
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
78,928
65,993
Total equity
79,028
66,093
FOLKESTONE AND WALMER TILE CENTRES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
Mr M R Hocking
Mr R J Goode
Director
Director
Company registration number 05434660 (England and Wales)
FOLKESTONE AND WALMER TILE CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Folkestone and Walmer Tile Centres Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 The Strand, Walmer, Deal, Kent, England, CT14 7DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is nil years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation charged in the year
Leasehold improvements
No depreciation charged in the year
Fixtures and fittings
2 years straight line method
Motor vehicles
25% on reducing balance

Freehold land and assets in the course of construction are not depreciated.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FOLKESTONE AND WALMER TILE CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
FOLKESTONE AND WALMER TILE CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
180,000
Amortisation and impairment
At 1 July 2023
162,000
Amortisation charged for the year
9,000
At 30 June 2024
171,000
Carrying amount
At 30 June 2024
9,000
At 30 June 2023
18,000
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
460,658
47,388
508,046
Additions
7,981
-
0
7,981
At 30 June 2024
468,639
47,388
516,027
Depreciation and impairment
At 1 July 2023
-
0
28,285
28,285
Depreciation charged in the year
-
0
4,776
4,776
At 30 June 2024
-
0
33,061
33,061
Carrying amount
At 30 June 2024
468,639
14,327
482,966
At 30 June 2023
460,658
19,103
479,761
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,722
4,991
FOLKESTONE AND WALMER TILE CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
125,959
129,723
Trade creditors
30,795
31,619
Taxation and social security
61,295
46,835
Other creditors
196,846
228,064
414,895
436,241
2024-06-302023-07-01falsefalsefalse23 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr M R HockingMr R J Goode054346602023-07-012024-06-3005434660bus:Director12023-07-012024-06-3005434660bus:Director22023-07-012024-06-30054346602024-06-30054346602023-06-3005434660core:Goodwill2024-06-3005434660core:Goodwill2023-06-3005434660core:LandBuildings2024-06-3005434660core:OtherPropertyPlantEquipment2024-06-3005434660core:LandBuildings2023-06-3005434660core:OtherPropertyPlantEquipment2023-06-3005434660core:ShareCapital2024-06-3005434660core:ShareCapital2023-06-3005434660core:RetainedEarningsAccumulatedLosses2024-06-3005434660core:RetainedEarningsAccumulatedLosses2023-06-3005434660core:Goodwill2023-07-012024-06-3005434660core:LandBuildingscore:OwnedOrFreeholdAssets2023-07-012024-06-3005434660core:LeaseholdImprovements2023-07-012024-06-3005434660core:FurnitureFittings2023-07-012024-06-3005434660core:MotorVehicles2023-07-012024-06-30054346602022-07-012023-06-3005434660core:Goodwill2023-06-3005434660core:LandBuildings2023-06-3005434660core:OtherPropertyPlantEquipment2023-06-30054346602023-06-3005434660core:LandBuildings2023-07-012024-06-3005434660core:OtherPropertyPlantEquipment2023-07-012024-06-3005434660core:CurrentFinancialInstruments2024-06-3005434660core:CurrentFinancialInstruments2023-06-3005434660bus:PrivateLimitedCompanyLtd2023-07-012024-06-3005434660bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005434660bus:FRS1022023-07-012024-06-3005434660bus:AuditExemptWithAccountantsReport2023-07-012024-06-3005434660bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP