IRIS Accounts Production v25.3.0.601 07173450 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07173450 2024-03-31 07173450 2025-03-31 07173450 2024-04-01 2025-03-31 07173450 2023-03-31 07173450 2023-04-01 2024-03-31 07173450 2024-03-31 07173450 ns15:EnglandWales 2024-04-01 2025-03-31 07173450 ns14:PoundSterling 2024-04-01 2025-03-31 07173450 ns10:Director1 2024-04-01 2025-03-31 07173450 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07173450 ns10:SmallEntities 2024-04-01 2025-03-31 07173450 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 07173450 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 07173450 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07173450 ns10:FullAccounts 2024-04-01 2025-03-31 07173450 ns10:Director3 2024-04-01 2025-03-31 07173450 ns10:Director5 2024-04-01 2025-03-31 07173450 ns10:Director6 2024-04-01 2025-03-31 07173450 ns10:RegisteredOffice 2024-04-01 2025-03-31 07173450 ns5:CurrentFinancialInstruments 2025-03-31 07173450 ns5:CurrentFinancialInstruments 2024-03-31 07173450 ns5:Non-currentFinancialInstruments 2025-03-31 07173450 ns5:Non-currentFinancialInstruments 2024-03-31 07173450 ns5:ShareCapital 2025-03-31 07173450 ns5:ShareCapital 2024-03-31 07173450 ns5:SharePremium 2025-03-31 07173450 ns5:SharePremium 2024-03-31 07173450 ns5:RevaluationReserve 2025-03-31 07173450 ns5:RevaluationReserve 2024-03-31 07173450 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 07173450 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 07173450 ns5:LandBuildings 2024-03-31 07173450 ns5:LeaseholdImprovements 2024-03-31 07173450 ns5:PlantMachinery 2024-03-31 07173450 ns5:LandBuildings 2024-04-01 2025-03-31 07173450 ns5:LeaseholdImprovements 2024-04-01 2025-03-31 07173450 ns5:PlantMachinery 2024-04-01 2025-03-31 07173450 ns5:LandBuildings 2025-03-31 07173450 ns5:LeaseholdImprovements 2025-03-31 07173450 ns5:PlantMachinery 2025-03-31 07173450 ns5:LandBuildings 2024-03-31 07173450 ns5:LeaseholdImprovements 2024-03-31 07173450 ns5:PlantMachinery 2024-03-31 07173450 ns5:FurnitureFittings 2024-03-31 07173450 ns5:ComputerEquipment 2024-03-31 07173450 ns5:FurnitureFittings 2024-04-01 2025-03-31 07173450 ns5:ComputerEquipment 2024-04-01 2025-03-31 07173450 ns5:FurnitureFittings 2025-03-31 07173450 ns5:ComputerEquipment 2025-03-31 07173450 ns5:FurnitureFittings 2024-03-31 07173450 ns5:ComputerEquipment 2024-03-31 07173450 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 07173450 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 07173450 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2025-03-31 07173450 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2024-03-31 07173450 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2025-03-31 07173450 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2024-03-31 07173450 ns5:Secured 2025-03-31 07173450 ns5:Secured 2024-03-31

REGISTERED NUMBER: 07173450 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Quicktile Limited |

| Quicktile Limited (Registered number: 07173450) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Quicktile Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | M F Spender

| J S P Spender

| R L A Spender

| V S Koubkova

| REGISTERED OFFICE: | Nexus Centre

| Cheney Manor

| Swindon

| SN2 2PN

| REGISTERED NUMBER: | 07173450 (England and Wales)

| Quicktile Limited (Registered number: 07173450) |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 2,613,881 |  | 2,613,989 |  |

CURRENT ASSETS

Stocks | 4,000 |  | 4,000 |  |

Debtors | 6 | 138,807 |  | 97,211 |  |

Cash at bank and in hand | 13,518 |  | 63,780 |  |

156,325 |  | 164,991 |  |

CREDITORS

Amounts falling due within one year | 7 | 374,222 |  | 324,258 |  |

NET CURRENT LIABILITIES | (217,897 | ) | (159,267 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,395,984 |  | 2,454,722 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 1,259,515 |  | 1,393,496 |  |

PROVISIONS FOR LIABILITIES | 367,601 |  | 357,488 |  |

CAPITAL AND RESERVES

Called up share capital | 956 |  | 956 |  |

Share premium | 179,140 |  | 179,140 |  |

Revaluation reserve | 1,835,290 |  | 1,771,444 |  |

Retained earnings | (1,246,518 | ) | (1,247,802 | ) |

SHAREHOLDERS' FUNDS | 768,868 |  | 703,738 |  |

2,395,984 |  | 2,454,722 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 7 November 2025 and were signed on its behalf by:

V S Koubkova - Director

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Quicktile 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 as modified by the revaluation of certain assets.

| Revenue recognition

| Revenue is measured at the fair value of the consideration received or receivable for the provision of managed office facilities and cafe sales, net of value added taxes.

| Tangible fixed assets

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

| Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

| The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

| Repairs and maintenance costs are expensed as incurred.

| Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

| The company has adopted a policy of revaluing freehold property. A formal valuation will be undertaken at no greater than five year intervals, with more frequent valuations where there are indicators that the market value has materially changed. The surplus or deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account.

| Stocks

| Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

| At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. 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. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax

| Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

| Deferred tax

| Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

| Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| Employee benefits

| The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

| Short term benefits

| Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

| Defined contribution pension plans

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Share-based payments

| The company established a scheme by which options could be granted to certain employees under a HM Revenue and Customs approved EMI scheme. The scheme allows employees registered at the time of certain events to purchase a number of Ordinary A shares of £0.01 at an exercise price of £0.01 per share.

| As the options were granted before the date of transition, the company has elected not to apply FRS102 to equity instruments

| Cash and cash equivalents

| Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price.

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Share capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

| Distributions to equity holders

| Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2024 - 11 ) .

5. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 2,010,549 |  | 695,613 |  | 683,130 |  |

| Additions | - |  | - |  | - |  |

| Revaluations | 63,846 |  | - |  | - |  |

| At 31 March 2025 | 2,074,395 |  | 695,613 |  | 683,130 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 257,332 |  | 620,085 |  |

| Charge for year | - |  | 27,825 |  | 16,516 |  |

| At 31 March 2025 | - |  | 285,157 |  | 636,601 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,074,395 |  | 410,456 |  | 46,529 |  |

| At 31 March 2024 | 2,010,549 |  | 438,281 |  | 63,045 |  |

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 787,526 |  | 24,385 |  | 4,201,203 |  |

| Additions | 2,634 |  | 810 |  | 3,444 |  |

| Revaluations | - |  | - |  | 63,846 |  |

| At 31 March 2025 | 790,160 |  | 25,195 |  | 4,268,493 |  |

| DEPRECIATION

| At 1 April 2024 | 686,417 |  | 23,380 |  | 1,587,214 |  |

| Charge for year | 22,141 |  | 916 |  | 67,398 |  |

| At 31 March 2025 | 708,558 |  | 24,296 |  | 1,654,612 |  |

| NET BOOK VALUE

| At 31 March 2025 | 81,602 |  | 899 |  | 2,613,881 |  |

| At 31 March 2024 | 101,109 |  | 1,005 |  | 2,613,989 |  |

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS - continued

| Cost or valuation at 31 March 2025 is represented by:

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| Valuation in 2016 | 585,478 |  | - |  | - |  |

| Valuation in 2017 | 182,406 |  | - |  | - |  |

| Valuation in 2018 | 166,206 |  | - |  | - |  |

| Valuation in 2019 | 259,338 |  | - |  | - |  |

| Valuation in 2020 | 151,893 |  | - |  | - |  |

| Valuation in 2021 | 134,898 |  | - |  | - |  |

| Valuation in 2022 | 124,455 |  | - |  | - |  |

| Valuation in 2023 | 53,200 |  | - |  | - |  |

| Valuation in 2024 | 80,964 |  | - |  | - |  |

| Valuation in 2025 | 63,846 |  | - |  | - |  |

| Cost | 271,711 |  | 695,613 |  | 683,130 |  |

2,074,395 |  | 695,613 |  | 683,130 |  |

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| Valuation in 2016 | - |  | - |  | 585,478 |  |

| Valuation in 2017 | - |  | - |  | 182,406 |  |

| Valuation in 2018 | - |  | - |  | 166,206 |  |

| Valuation in 2019 | - |  | - |  | 259,338 |  |

| Valuation in 2020 | - |  | - |  | 151,893 |  |

| Valuation in 2021 | - |  | - |  | 134,898 |  |

| Valuation in 2022 | - |  | - |  | 124,455 |  |

| Valuation in 2023 | - |  | - |  | 53,200 |  |

| Valuation in 2024 | - |  | - |  | 80,964 |  |

| Valuation in 2025 | - |  | - |  | 63,846 |  |

| Cost | 790,160 |  | 25,195 |  | 2,465,809 |  |

790,160 |  | 25,195 |  | 4,268,493 |  |

| If freehold property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 271,711 |  | 271,711 |  |

| Aggregate depreciation | 81,511 |  | 76,077 |  |

| Freehold property was valued on an open market basis on 31 March 2025 by the directors .

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 82,836 |  | 78,205 |  |

| Prepayments and accrued income | 55,971 |  | 19,006 |  |

138,807 |  | 97,211 |  |

| Quicktile Limited (Registered number: 07173450) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 115,401 |  | 106,239 |  |

| Trade creditors | 106,880 |  | 60,674 |  |

| Tax | 46 |  | 40 |  |

| Social security and other taxes | 33,646 |  | 35,092 |  |

| Other creditors | 57,738 |  | 66,588 |  |

| Accruals and deferred income | 60,511 |  | 55,625 |  |

374,222 |  | 324,258 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 200,117 |  | 308,831 |  |

| Bank loans more than 5 years | 44,398 |  | 54,665 |  |

| Directors' loans | 1,015,000 |  | 1,030,000 |  |

1,259,515 |  | 1,393,496 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more than 5 years | 44,398 |  | 54,665 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 359,916 |  | 469,735 |  |

| Directors' loans | 1,015,000 |  | 1,030,000 |  |

1,374,916 |  | 1,499,735 |  |

| The directors' loan is secured over the freehold property held by the company.

| The bank loans are secured by a charge over the freehold land and buildings held by the company as well as an unlimited debenture.

10. | GOING CONCERN

| The company has net current liabilities of £217,897 (2024 - £159,267).

| The directors' have undertaken to continue to provide financial support to the company and have provided the company with a long term loan of £1,015,000 (2024 - £1,030,000) with no set repayment dates. Given this support, the accounts have been prepared on a going concern basis.