Cut Price Tiles & Bathrooms LLP

REGISTERED NUMBER: OC309331 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2025

FOR

CUT PRICE TILES & BATHROOMS LLP

Page

General Information

1

Report of the Members

2

Profit and loss account

3

Balance Sheet

4

Reconciliation of Members' Interests

6

Notes to the Financial Statements

8

DESIGNATED MEMBERS:

S D Miller

C R Miller

REGISTERED OFFICE:

5 Glebe Road

Huntingdon

Cambridgeshire

PE29 7DL

REGISTERED NUMBER:

OC309331 (England and Wales)

ACCOUNTANTS:

TC Group

1st Floor

5-7 Portugal Place

Cambridge

Cambridgeshire

CB5 8AF

The members present their report with the financial statements of the LLP for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the retail of ceramic tiles.

DESIGNATED MEMBERS

The designated members during the year under review were:

S D Miller

C R Miller

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £156,588 (2024 - £4,886 profit).

MEMBERS' INTERESTS

Members are permitted to make drawings in anticipation of profits which will be allocated to them of amounts agreed by the members up to a limit of the amounts available in the partnership bank account.

Capital is subscribed by members as required by the members and is repayable on retirement, death or expulsion.

ON BEHALF OF THE MEMBERS:

S D Miller - Designated member

24 June 2026

TURNOVER

3,399,927

3,480,350

Cost of sales

(1,788,743

)

(1,940,065

)

GROSS PROFIT

1,611,184

1,540,285

Administrative expenses

(1,454,596

)

(1,535,399

)

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

5

156,588

4,886

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

156,588

4,886

Members' remuneration charged as an
expense

6

(156,588

)

(4,886

)

PROFIT FOR THE FINANCIAL YEAR AVAILABLE
FOR DISCRETIONARY DIVISION AMONG
MEMBERS

-

FIXED ASSETS

Tangible assets

7

44,785

56,651

CURRENT ASSETS

Stocks

171,303

192,424

Debtors

8

676,207

577,991

Cash and cash equivalents

74,015

127,377

921,525

897,792

CREDITORS

Amounts falling due within one year

9

(966,310

)

(954,443

)

NET CURRENT LIABILITIES

(44,785

)

(56,651

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

8

(116,024

)

(234,717

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 September 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 June 2026 and were signed by:

S D Miller - Designated member

C R Miller - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

-

Amount due from members

(234,717

)

Balance at 1 October 2024

-

(234,717

)

(234,717

)

Members' remuneration charged
as an expense, including
employment and retirement
benefit costs

-

156,588

Profit for the financial year
available for discretionary division
among members

-

Members' interests after profit for
the year

-

(78,129

)

(78,129

)

Drawings on account and
distributions of profit

-

(37,895

)

(37,895

)

Amount due to members

-

Amount due from members

(116,024

)

Balance at 30 September 2025

-

(116,024

)

(116,024

)

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

-

Amount due from members

(38,596

)

Balance at 1 October 2023

-

(38,596

)

(38,596

)

Members' remuneration charged
as an expense, including
employment and retirement
benefit costs

-

4,886

Profit for the financial year
available for discretionary division
among members

-

Members' interests after profit for
the year

-

(33,710

)

(33,710

)

Drawings on account and
distributions of profit

-

(201,007

)

(201,007

)

Amount due to members

-

Amount due from members

(234,717

)

Balance at 30 September 2024

-

(234,717

)

(234,717

)

1.	STATUTORY INFORMATION

Cut Price Tiles & Bathrooms LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Critical accounting judgements and key sources of estimation uncertainty

Doubtful debts:

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Turnover

Turnover is derived from the retail of ceramic tiles in the United Kingdom and represents both cash and account income, receivable in respect of the year excluding value added tax.

Tangible fixed assets

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

Leasehold property alterations

-

10% on cost

Equipment and fixtures

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 28 (2024 - 26 ) .

5.	PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

The profit for the financial year before members' remuneration and profit shares is stated after charging:

2025

2024

£

Depreciation - owned assets

11,866

14,317

6.	INFORMATION IN RELATION TO MEMBERS

2025

2024

£

Members' remuneration charged as an expense

Automatic division of profit

156,588

4,886

7.	TANGIBLE FIXED ASSETS

Leasehold

Equipment

property

and

Motor

alterations

fixtures

vehicles

Totals

£

COST

At 1 October 2024

and 30 September 2025

58,905

55,481

120,247

234,633

DEPRECIATION

At 1 October 2024

33,269

53,853

90,860

177,982

Charge for year

4,520

-

7,346

11,866

At 30 September 2025

37,789

53,853

98,206

189,848

NET BOOK VALUE

At 30 September 2025

21,116

1,628

22,041

44,785

At 30 September 2024

25,636

1,628

29,387

56,651

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

97,657

98,447

Amounts due from members

116,024

234,717

Other debtors

242,071

22,522

Prepayments and accrued income

220,455

222,305

676,207

577,991

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

-

5,374

Trade creditors

742,476

854,442

Social security and other taxes

22,353

17,970

VAT

97,248

50,515

Other creditors

96,361

18,470

Accrued expenses

7,872

7,672

966,310

954,443

10.	RELATED PARTY DISCLOSURES

During the year under review the LLP had amounts due from the designated members of £272,613 (2024:£234,717).

The company received a volume rebate totalling £230,000 (2024; nil) to a company under the control of the designated members. The amount due at the balance sheet date is £65,458 (2024:£13,311) and is disclosed within other debtors.

The company made purchases from a company under the control of the designated members totalling £1,997,621 (£1,834,042). The amount outstanding at the balance sheet date is £524,728 (2024: £662,530) and is disclosed within trade creditors.