Company registration number 13195587 (England and Wales)
HONITON TILE AND BATHROOM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HONITON TILE AND BATHROOM LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HONITON TILE AND BATHROOM LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,261
60,956
Current assets
Stocks
47,571
47,875
Debtors
4
165,411
127,816
Cash at bank and in hand
261,867
16,006
474,849
191,697
Creditors: amounts falling due within one year
5
(434,953)
(151,771)
Net current assets
39,896
39,926
Total assets less current liabilities
94,157
100,882
Creditors: amounts falling due after more than one year
6
(65,457)
(70,063)
Net assets
28,700
30,819
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
28,698
30,817
Total equity
28,700
30,819
HONITON TILE AND BATHROOM LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his 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 director of the company has 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 18 September 2025 and are signed on its behalf by:
Mr A S Vatter
Director
Company registration number 13195587 (England and Wales)
HONITON TILE AND BATHROOM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Honiton Tile and Bathroom Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Gloucester Court, Gloucester Close, Heathpark Industrial Estate, Honiton, Devon, EX14 1SJ.

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 a mounts 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
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
4% on cost
Plant and equipment
15% on net book value
Fixtures and fittings
15% on net book value
Computers
33% on cost
Motor vehicles
25% on net book value

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

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

HONITON TILE AND BATHROOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

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

2024
2023
Number
Number
Total
5
5
HONITON TILE AND BATHROOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1,169
91,584
92,753
Additions
-
0
22,830
22,830
Disposals
-
0
(28,074)
(28,074)
At 31 December 2024
1,169
86,340
87,509
Depreciation and impairment
At 1 January 2024
94
31,703
31,797
Depreciation charged in the year
47
15,661
15,708
Eliminated in respect of disposals
-
0
(14,257)
(14,257)
At 31 December 2024
141
33,107
33,248
Carrying amount
At 31 December 2024
1,028
53,233
54,261
At 31 December 2023
1,075
59,881
60,956
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
160,511
121,916
Amounts owed by group undertakings
2,500
-
0
Other debtors
2,400
5,900
165,411
127,816
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,546
12,884
Trade creditors
164,271
112,148
Taxation and social security
75,670
7,671
Other creditors
190,466
19,068
434,953
151,771

Included within other creditors is a hire purchase liability of £9,699 (20 23: £8,896). Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

HONITON TILE AND BATHROOM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,076
26,162
Other creditors
45,381
43,901
65,457
70,063
Creditors which fall due after five years are payable as follows:
Payable by instalments
1,893
13,361

Included within other creditors is a hire purchase liability of £45,381 (20 23: £43,901). Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

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