PORCELAIN TILES LIMITED


Director	HENDI, Behrouz


Registered Address	Unit 1 & 2 1055 Finchley Road
	London
	NW11 7ES


Registered Number	05517223 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		614,601		883,927
			614,601		883,927
Current assets
Stocks	4	2,976,899		4,245,301
Debtors	5	125,243		148,156
Cash at bank and on hand		51,923		57,546
		3,154,065		4,451,003
Creditors amounts falling due within one year	6	(2,573,464)		(2,008,397)
Net current assets (liabilities)			580,601		2,442,606
Total assets less current liabilities			1,195,202		3,326,533
Creditors amounts falling due after one year	7		(815,028)		(2,244,939)
Net assets			380,174		1,081,594
Capital and reserves
Called up share capital			3		3
Profit and loss account			380,171		1,081,591
Shareholders' funds			380,174		1,081,594

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 23 December 2025, and are signed on its behalf by:

HENDI, Behrouz
Director
Registered Company No. 05517223

PORCELAIN TILES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset.

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset.


		Reducing balance (%)
	Land and buildings	20
	Plant and machinery	20
	Fixtures and fittings	20
	Office Equipment	20

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	38		40

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
At 01 January 24	149,797	2,493,429	2,643,226
Additions	-	21,991	21,991
Disposals	-	(100,000)	(100,000)
Transfers	-	(3)	(3)
At 31 December 24	149,797	2,415,417	2,565,214
Depreciation and impairment
At 01 January 24	69,189	1,690,110	1,759,299
Charge for year	-	191,314	191,314
At 31 December 24	69,189	1,881,424	1,950,613
Net book value
At 31 December 24	80,608	533,993	614,601
At 31 December 23	80,608	803,319	883,927

4.	Stocks

	2024	2023
	£	£
Finished goods	2,976,899	4,245,301
Total	2,976,899	4,245,301

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	68,410	98,110
Other debtors	31,250	29,712
Prepayments and accrued income	25,583	20,334
Total	125,243	148,156

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	1,831,900	1,076,103
Bank borrowings and overdrafts	203,244	153,890
Amounts owed to related parties	362,312	303,558
Taxation and social security	136,874	433,305
Accrued liabilities and deferred income	39,134	41,541
Total	2,573,464	2,008,397

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Trade creditors / trade payables	759,285	2,111,945
Other creditors	55,743	132,994
Total	815,028	2,244,939

8.	Parent-subsidiary relationships
	Ultimate Holding Company Ultimateholding company is PORCELAIN TILES HOLDING LIMITED (Company number 07057900) by virure of 100% ownership of the shares.