REGISTERED NUMBER: 04656089

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Tim Page Carpets Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M.J. Gomez

G Dewar

Ms H E Crompton

M P Gomez

SECRETARY:

M.J. Gomez

REGISTERED OFFICE:

410 The Chambers

Chelsea Harbour Design Centre

London

SX10 0XE

REGISTERED NUMBER:

04656089

ACCOUNTANTS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Tangible assets

3

193,558

164,092

CURRENT ASSETS

Stocks

212,807

201,285

Debtors

4

949,678

954,022

Cash at bank

982,450

765,742

2,144,935

1,921,049

CREDITORS

Amounts falling due within one year

5

955,620

920,292

NET CURRENT ASSETS

1,189,315

1,000,757

TOTAL ASSETS LESS CURRENT LIABILITIES

1,382,873

1,164,849

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

1,382,773

1,164,749

SHAREHOLDERS' FUNDS

1,382,873

1,164,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

M.J. Gomez - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-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 AND DIRECTORS

The average number of employees during the year was NIL (2023 - 15 ).

3.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

175,649

354,742

60,397

590,788

Additions

-

35,880

21,750

57,630

Disposals

-

-

(21,043

)

(21,043

)

At 31 December 2024

175,649

390,622

61,104

627,375

DEPRECIATION

At 1 January 2024

113,790

260,832

52,074

426,696

Charge for year

14,907

25,129

9,320

49,356

Eliminated on disposal

-

-

(42,235

)

(42,235

)

At 31 December 2024

128,697

285,961

19,159

433,817

NET BOOK VALUE

At 31 December 2024

46,952

104,661

41,945

193,558

At 31 December 2023

61,859

93,910

8,323

164,092

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

226,901

150,441

Amounts owed by group undertakings

587,393

685,399

Directors' current accounts

13,146

-

Prepayments

122,238

118,182

949,678

954,022

Interest has been charged at the rate of 2.5% per annum on directors loans which was repaid on 23 September 2025.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

310,183

278,107

Corporation tax

15,239

60,690

Social security and other taxes

27,747

19,299

VAT

107,567

100,386

Other creditors

11,548

11,347

Accruals and deferred income

442,497

433,576

Accrued expenses

40,839

16,887

955,620

920,292

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2024

1,164,749

Profit for the year

218,024

At 31 December 2024

1,382,773

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £587,393 (2023: £685,399) by group undertakings.

9.	ULTIMATE CONTROLLING PARTY

Turnell & Gigon Limited is the ultimate controlling party.