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Company No: 09423009 (England and Wales)

# TILES OF WISDOM LIMITED

### Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

TILES OF WISDOM LIMITED

## Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

TILES OF WISDOM LIMITED

## COMPANY INFORMATION

For the financial year ended 30 September 2024
TILES OF WISDOM LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024

DIRECTOR | S Wisdom

REGISTERED OFFICE | 22 Wycombe End
| Beaconsfield
| Buckinghamshire
| HP9 1NB
| United Kingdom

COMPANY NUMBER | 09423009 (England and Wales)

ACCOUNTANT | S&W Partners (Thames Valley) Limited
| 22 Wycombe End
| Beaconsfield
| Buckinghamshire
| HP9 1NB

TILES OF WISDOM LIMITED

## BALANCE SHEET

As at 30 September 2024
TILES OF WISDOM LIMITED

## BALANCE SHEET (continued)

As at 30 September 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 111,204 |  | 114,379
|  | 111,204 |  | 114,379
Current assets |  |  |  |
Stocks |  | 5,000 |  | 5,000
Debtors |  |  |  |
- due within one year | 5 | 129,571 |  | 154,139
- due after more than one year | 5 | 15,076 |  | 22,149
Cash at bank and in hand |  | 878 |  | 16,026
|  | 150,525 |  | 197,314
Creditors: amounts falling due within one year | 6 | ( 182,972) |  | ( 242,936)
Net current liabilities |  | (32,447) |  | (45,622)
Total assets less current liabilities |  | 78,757 |  | 68,757
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 15,765)
Net assets |  | 78,757 |  | 52,992
Capital and reserves |  |  |  |
Called-up share capital | 8 | 116,207 |  | 116,207
Profit and loss account |  | ( 37,450 ) |  | ( 63,215 )
Total shareholder's funds |  | 78,757 |  | 52,992

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Tiles of Wisdom Limited (registered number: 09423009) were approved and authorised for issue by the Director on 08 September 2025. They were signed on its behalf by:

S Wisdom Director |

TILES OF WISDOM LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
TILES OF WISDOM LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Tiles of Wisdom Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 139 Stanley Road, Teddington, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Tiles of Wisdom Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

##### Going concern

The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 5 years straight line
Other intangible assets | 5 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 20 % reducing balance
Computer equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

#### 3. Intangible assets

| Goodwill |  | Other intangible assets |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 October 2023 | 28,986 |  | 7 |  | 28,993
At 30 September 2024 | 28,986 |  | 7 |  | 28,993
Accumulated amortisation |  |  |  |  |
At 01 October 2023 | 28,986 |  | 7 |  | 28,993
At 30 September 2024 | 28,986 |  | 7 |  | 28,993
Net book value |  |  |  |  |
At 30 September 2024 | 0 |  | 0 |  | 0
At 30 September 2023 | 0 |  | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 October 2023 | 129,076 |  | 7,251 |  | 2,371 |  | 138,698
At 30 September 2024 | 129,076 |  | 7,251 |  | 2,371 |  | 138,698
Accumulated depreciation |  |  |  |  |  |  |
At 01 October 2023 | 15,971 |  | 7,251 |  | 1,097 |  | 24,319
Charge for the financial year | 2,582 |  | 0 |  | 593 |  | 3,175
At 30 September 2024 | 18,553 |  | 7,251 |  | 1,690 |  | 27,494
Net book value |  |  |  |  |  |  |
At 30 September 2024 | 110,523 |  | 0 |  | 681 |  | 111,204
At 30 September 2023 | 113,105 |  | 0 |  | 1,274 |  | 114,379

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 5,488 |  | 15,880
Amounts owed by Group undertakings | 123,135 |  | 102,784
Corporation tax | 0 |  | 7,329
Other debtors | 948 |  | 28,146
| 129,571 |  | 154,139
Debtors: amounts falling due after more than one year |  |  |
Deferred tax asset | 15,076 |  | 22,149

#### 6. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 21,938 |  | 10,000
Trade creditors | 19,329 |  | 26,415
Amounts owed to Group undertakings | 60,018 |  | 117,191
Taxation and social security | 1,171 |  | 336
Other creditors | 80,516 |  | 88,994
| 182,972 |  | 242,936

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 0 |  | 15,765

#### 8. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
116,207 Ordinary share capital shares of £ 1.00 each | 116,207 |  | 116,207