Topps Tiles Plc
Annual Report and Financial Statements 2005
One company , one year , one objective... THE TOPPS TILES GROUP IS BRITAIN’S BIGGEST
TILE AND WOOD FLOORING SPECIALIST WITH
244 STORES THROUGHOUT THE UK, AND WITH
A CONTROLLED OPENING PROGRAMME OF 24
NEW STORES PER ANNUM, THE UK STORE 
TARGET OF 350 STORES IS WELL WITHIN
REACH.
TOPPS’ RECORD SINCE FLOTATION IN 1997 IS
CONSISTENTLY EXCELLENT WITH BASIC 
EARNINGS PER SHARE SHOWING OVER 40%
AVERAGE ANNUAL COMPOUND GROWTH OVER
THE PAST EIGHT YEARS AND WITH OUR 
DOMINANT MARKET POSITION, MORE NEW
STORES AND A GROWING MARKET, THE 
BOARD EXPECTS A CONTINUED BUILD IN 
SHAREHOLDER VALUE.
CONTENTS
01 FINANCIAL HIGHLIGHTS
03 CHAIRMAN’S STATEMENT
05 STRATEGY STATEMENT
07 CHIEF EXECUTIVE’S STATEMENT
11 OPERATING AND FINANCIAL REVIEW
17 CORPORATE  AND SOCIAL RESPONSIBILITY
20 EXECUTIVE DIRECTORS
21 NON-EXECUTIVE DIRECTORS
22 OPERATIONAL DIRECTORS
24 DIRECTORS AND ADVISORS
26 DIRECTORS’ REPORT
29 CORPORATE GOVERNANCE STATEMENTS
31 REMUNERATION REPORT
36 INDEPENDENT AUDITORS’ REPORT
38 CONSOLIDATED PROFIT AND LOSS ACCOUNT
39 BALANCE SHEETS
40 CONSOLIDATED CASH FLOW STATEMENT
41 NOTES TO THE FINANCIAL STATEMENTS
60 FIVE YEAR RECORD
61 NOTICE OF ANNUAL GENERAL MEETING
64 EXPLANATORY NOTES TO THE NOTICE OF 
ANNUAL GENERAL MEETING
66 FINANCIAL CALENDAR
67 THE TEAM
72 STORE LOCATIONS
growth!
Stuart Williams
President and Co-Founder FINANCIAL HIGHLIGHTS 52 WEEKS RESULTS TO 1 OCTOBER 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 01
> Group gross margin increased to 61.3% 
(2004: 60.5%)
> Group like-for-like turnover increased by 
3.4%
> Operating costs increased to 40.0% 
(2004: 39.9%)
> Profit before tax margin increased to 22.6% 
(2004: 21.4%)
> Profit before tax margin, excluding 
exceptional profit on capital items, increased
to 21.7% (2004: 21.1%)
> Dividend policy maintained at 1.41 times cover
> A final net dividend of 6.00 pence per share to 
be paid on 31 January 2006
> Net cash position of £21.8m
> A net 24 new stores opened in the UK in this 
financial period 
> 13 stores now trading in Holland (2004: 11 
stores)
+
18.1%
Basic earnings per share increased
to 13.34p (2004: 11.30p) 
+
18.8%          
Dividend per share increased
to 9.50p (2004: 8.00p)
+
10.0%
Group turnover increased by 10.0% 
to £173.3 million (2004: £157.6m for 
53 weeks)
+
16.1%
Profit Before Tax increased by 16.1% 
to £39.2 million (2004: £33.8m for 
53 weeks) TOPPS TILES PLC 
Annual Report and Financial Statements 2005 02
15
stores refurbished during the
last financial period, as part
of our commitment to
infrastructure investment
Turnover (£m) 
2001 
0 
50 
100 
150 
200 
2002 2003 2004 2005 
74.6 
95.7 
118.9 
157.6 
173.3 
Source : see page 13 
244
stores trading across the UK
with a further 13 in Holland
24
new stores (net) opened in 
the last 12 months TOPPS TILES PLC 
Annual Report and Financial Statements 2005 03
I am pleased to report another strong performance by the Group with
record profits and increased UK market share.  We have consolidated
our position as the leading UK ceramic tile and wood flooring 
specialist, backed by what is now a truly national brand. The new
Topps Distribution and Marketing Centre is fully integrated with the
capacity to support our UK store target of a minimum of 350 stores.
The period has seen a particularly weak UK consumer environment,
however I am pleased to report the resilience of our business model
has enabled us to continue to deliver record results and to outperform
the market.  
Since flotation in 1997 total shareholder return has grown by over
2,000% and we have consistently been a top performing company in
the FTSE Index. 
Financial Results
Group turnover has increase by 10.0% over the period to £173.3 
million, with profit before tax increasing by 16.1% to £39.2 million.
Gross margins have improved to 61.3% compared to 60.5% in 2004.
2004 was an exceptional year in respect of trading and if you look at
the trend over the last two years like-for-like sales have improved
24.9%
Set against extremely strong comparatives last year and the tough UK
trading, growth in like-for-like sales for the period was 3.4%, with 
overall sales growth of 10.0%. 
Our business continues to be highly cash generative and at the year
end we had net cash balances of £21.8 million.
Board Changes
As announced at the Annual General Meeting on 11 January 2005,
Stuart Williams, my co-founder of Topps, stepped down as 
Co-Chairman and Board Director on 31 March 2005. I am delighted
however that Stuart has taken on the newly created non Board 
advisory role of President and continues to offer his expertise and
guidance to the business.
Dividend
The Board continues to be committed to a progressive dividend policy
and is recommending a final dividend of 6.00 pence per share.
Together with the interim dividend of 3.50p per share the total 
dividend for the period will be 9.50 pence per share, an increase of
18.8%. The dividend will be paid on 31 January 2006 to all shareholders
on the register as at 13 January 2006.
People
Our staff are fundamental to the success of the business and I would
like to take this opportunity to thank all our employees for their 
inspiring contributions and continued commitment during the period.
We have created another 174 jobs as a direct result of our expansion
programme.
Outlook
Although the current UK trading environment continues to be volatile,
I remain confident that the strength of our business model and the
expertise of the strong management team will enable us to continue
to grow the business and ensure the delivery of sustainable growth for
shareholders.
Barry Bester
Chairman
CHAIRMAN’S STATEMENT
The key to our continued success is our commitment to the highest levels of 
customer service and both the range and quality of products that we offer.
244 stores - one focus
Barry Bester
Chairman TOPPS TILES PLC 
Annual Report and Financial Statements 2005 04
Store 
locations
Stock 
availability
Store 
layout
Our success 
is built on four 
key cornerstones:
>
>
>
>
Customer
service TOPPS TILES PLC 
Annual Report and Financial Statements 2005 05
1. Customer service
We continually strive to provide and maintain high levels of 
customer service and regard it as fundamental to the ongoing 
success of Topps. The quality and performance of our staff at every 
level is key and we train all our staff at our own national and 
regional training centres and through our e-learning tile training 
college. Customer service remains our number one priority and it is 
our policy to be honest, helpful and knowledgeable but never 
pushy.
We complement the advice that our staff can give in store with a 
range of services offering practical support to customers which 
include Loan-a-Tile, free “How to” video or DVD, tile cutting service 
and our buy-back service which allows undamaged stock tiles to be 
returned within 28 days for a full refund.
2. Store locations
Topps stores are purposely located in highly visible destinations, on 
or close to busy roads and always with parking facilities. Our stores 
in the main are not located on high streets or large retail parks. Our 
controlled expansion programme is taking us across the UK and a 
full list of stores can be found at the end of this report or on our 
website at www.toppstiles.co.uk.
Our stores trade seven days a week on Monday to Saturday opening
from 8.00am to 6.00pm and on Sundays either 10.00am to 4.00pm 
or 11.00am to 5.00pm, with a number of larger stores opening until
8.00pm during the week.
3. Store layout
Our average store size is just over 6,300 square feet and can 
accommodate our in-house formats including Floor Store and Stone
Works, which usually have their own individually branded section of
the store.  
All our stores have a similar layout, are clearly branded and 
designed to be customer-friendly with product and pricing clearly 
displayed on colourful and informative point-of-sale displays. The 
stores are mini-warehouse style, which is ideal to display our 
extensive product ranges as well as ensuring they are easy to 
navigate with trolleys, prams and pushchairs. 
4. Stock availability
Topps Tiles and Tile Clearing House offer a huge choice of product, 
with the best the world has to offer in wall and floor tiles, natural 
stone, laminate and real wood flooring. Our extensive in-store 
product offering is supported by on-site stock facilities. The 
combination of choice of product with the availability of stock is 
unrivaled in the UK. Our new marketing and distribution centre 
ensures that all our stores receive at least two deliveries a week to 
ensure stock levels are maintained at every store.
STRATEGY STATEMENT
We always aim to provide high levels of
customer service across both our brands
4 key cornerstones -
one strategy TOPPS TILES PLC 
Annual Report and Financial Statements 2005 06
Voted Company of the Year for the
second consecutive year at Price
Waterhouse Coopers PLC Awards
Continued TV
sponsorships
6,307
sq.ft is the average size of our
mini-warehouse style stores
Source : see page 13 
Overall sales and like-for-like 
sales growth (%) 
2001 
0 
10 
20 
40 
30 
2002 2003 2004 2005 
19.2 
5.3 
28.3 
11.3 
24.2 
15.2 
32.5 
21.5 
10.0 
3.4 
+
26%
projected market growth over
the next five years TOPPS TILES PLC 
Annual Report and Financial Statements 2005 07
This year, in a turbulent UK trading environment, we have again
demonstrated the fundamental strength of our business through the
continued delivery of improved profits.
Store Development and Expansion                                                                     
Our national store opening programme continues apace with a net 24
new stores (20 Topps and 4 Tile Clearing House) opened in this 
financial year. We now have a total of 244 trading stores (207 Topps
and 37 Tile Clearing House) and are firmly on our way to achieving our
stated target of a minimum of 350 UK outlets. We continue to enjoy a
good pipeline of suitable sites for occupation or development.
In line with our policy of continued store development and 
refurbishment, 3 stores were closed or relocated, 15 re-fitted and a net
24 new stores opened in the period. We have a total of 64 stores 
offering our tile studio concept of extra choice of up-market tiles, 
available on a special order basis and 17 floorstores with an enhanced
stock range of laminate and real wood flooring. The average square
footage of our stores has increased gradually and is now  over 6,300
square feet.
Our Stoneworks concept has continued to be popular, as consumers’
appetite for natural product grows. We now have 19 stores open with
a full Stoneworks offering and we also offer a selected range of these
products in all our other stores.
Holland
We now have a total of 13 stores trading in Holland under our 50/50
joint venture including two new stores opened in the period. It is our
intention to open a minimum two stores in the next financial period.    
Marketing, advertising and sponsorship
As part of our strategy to be “the brand” of choice in the UK we 
have again continued our nationwide marketing and advertising 
programme. Our approach is two fold: using national television 
advertising both digital and terrestrial coupled with print and radio
advertising on a regional basis. This is not only an effective strategy in
respect of maximising our reach UK wide but is also a cost effective
approach, spreading costs across each store in concentrated areas such
as central London, for example, the Carlton Weather sponsorship.
CHIEF EXECUTIVE’S STATEMENT
2 core brands -
one objective
Driving the business 
forward
Nicholas Ounstead
Chief Executive Officer TOPPS TILES PLC 
Annual Report and Financial Statements 2005 08
+
16.1%
Increase in profit before tax
61.3%
Gross margin
Number of stores at the financial period end 
2001 
0 
50 
100 
150 
250 
200 
2002 2003 2004 2005 
147 
171 
196 
220 
244 
Source : see page 13  TOPPS TILES PLC 
Annual Report and Financial Statements 2005 09
More specifically, in 2004 the UK ceramic tile market grew 12% to 77.2
million square metres, an increase of 49% compared with 2000. At
manufacturers selling prices the market was worth close to £400 
million in 2004 (source MBD).  
The UK still has a very low consumption rate compared to its European
counterparts with only 1.1% of world consumption in 2004 compared
with, for example Spain at 5.9% (Source: Ceramic World Review).
Consumption continues to increase driven by issues such as health
and hygiene, an increase in second bathrooms, shower rooms, 
conservatories and utility rooms and an increase in the use of 
underfloor heating systems.  
UK Retail sales of ceramic tiles are expected to increase by 26% by
2010 (source: MBD) and we are confident therefore of the continued
growth in the ceramic tile market.
Current trading
In the first seven weeks of the new financial period we have recorded a
like-for-like sales decrease of 4.7%, however, the two year like-for-like
sales shows an increase of 14.1%. Overall sales have increased by 1.2%
over last year and 24.8% over two years. 
We have opened stores in Hayes, Lewes and Pentonville Road already
this new financial year with our target roll-out of 24 new stores for
2005/06.
There is no doubt that we, along with the rest of the UK retail sector,
are experiencing a very tough trading environment. However, given the
strength of these results we believe we have the right business model
and the best people to continue to gain market share and we are well
placed to maintain our goal of providing sustainable returns for 
shareholders.
Nicholas Ounstead
Chief Executive Officer
CHIEF EXECUTIVE’S STATEMENT continued
Topps Tiles is one of Britain's biggest supporters of youth 
football. Topps stores currently sponsor 225 teams nationwide and our
yellow kit is arguably the most famous in the beautiful game.
Staff Development and Customer Service
Our vision is of high-performing, motivated and well-trained people
who can make a difference to our customers, shareholders, the 
business and themselves. We live by our values of friendly, helpful and
expert advice.  
The quality of leadership in the company is key to the successful 
delivery of our strategy for growth and our commitment to training,
development and career progression is demonstrated through our 
in-house training school, incentive schemes, bonus system, share save
schemes and other incentives including the ‘Home Computing
Initiative’ and the ‘Cycle to Work’ schemes. We have recently introduced
a comprehensive employee benefits scheme which includes a whole
range of internal and external company benefits from discounts on
holidays to an employee helpline service.
We understand the true value of all our employees and actively
encourage the recruitment of staff from all age groups. We have a 
policy of internal promotion, encouraging employees to advance their
careers both in the stores and the Head Office functions.
The market
Despite a widely reported slow down in spending, we believe that in
the mid-longer term DIY retail remains a relatively stable sector. There
are a number of factors underpinning the future of the retail DIY 
market. The UK population is growing steadily, particularly in the 35-
64 key age band for DIY; and household numbers are growing faster
than the population up from 22.4 million in 1991 to 24.5 million in
2003; and owner occupancy is also on the rise and with an ageing UK
housing stock that requires constant repair and maintenance. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 10
Gross margin (%) 
2001 2002 2003 2004 2005 
40 
45 
50 
55 
65 
60 
55.0 
56.0 
57.5 
60.5 
61.3 
Source : see page 13 
£8.8m
Total capital expenditure 
during the financial period
+
18.1%
Basic earnings per share increase TOPPS TILES PLC 
Annual Report and Financial Statements 2005 11
OPERATING AND FINANCIAL REVIEW 
This does not represent a statutory Operating and Financial Review as
set out in the Companies Act 1985 (Schedule 72A) and in RS1.
Nature, Objectives and Strategies of the business
Topps Tiles Plc is Britain's biggest tile and wood flooring specialist
group with over 244 stores throughout the UK. We have an opening
programme of 24 stores per financial year and a long term target of a
minimum of 350 stores UK wide.  
Our founders, Stuart Williams and Barry Bester, whose vision and
enterprise built up the business from just a few shops, are still major
shareholders.
Topps first specialist tile centre opened in Manchester in 1963. It was a
pioneering concept offering customers quality tiles at bargain prices,
sold by friendly, helpful people. This policy has never changed.
We operate two brands in the market, Topps Tiles and Tile Clearing
House. Topps is Britain’s biggest tile and wood flooring specialist group
with the largest choice in the UK to suit all tastes and budgets.
Tile Clearing House is a true “cash and carry” tile store selling end of
lines, job lots and seconds, appealing to small builders, local 
contractors and bulk purchasers.
Today at Topps you will find the best the world can offer in wall and
floor tiles, natural stone, laminate and solid wood flooring. Underfloor
heating, tools, adhesives, grouts, accessories and cleaning products are
also on hand for the perfect finish to any job.
Most of the tiles commissioned for Topps go straight to our central
warehouse and distribution centre near Leicester. From here, all Topps
stores receive at least two bulk deliveries a week, so stock is constantly
flowing to keep pace with demand.
The business is built on four cornerstones that underpin our success:
customer service, store locations, store layout and stock availability.
Our aim is to increase shareholder value through the delivery of 
sustainable earnings growth.
Operating Environment
Historically, the Group’s business has proven to be resilient in the face
of economic downturn. The business has traded through a number of
recessions and whilst sales continued to grow we did experience some
pressure on margins. However, the business has changed over the
years and we are confident that our current business model places us
well to continue to deliver future shareholder value. 
Several business goals -
one target
Meeting our operational and
financial objectives
Nicholas Ounstead
Chief Executive Officer
Andrew Liggett
Finance Director TOPPS TILES PLC 
Annual Report and Financial Statements 2005 12
+
18.8%
Increase in dividend payout
£21.8m
Net funds position as at
1 October 2005
Profit before tax (£m) 
2001 
0 
10 
20 
30 
40 
2002 2003 2004 2005 
9.4 
13.2 
18.9 
33.8 
39.2 
Source : see page 13  TOPPS TILES PLC 
Annual Report and Financial Statements 2005 13
OPERATING AND FINANCIAL REVIEW continued
Operating Environment (continued)
Topps is the market leading brand in the UK, enjoying an estimated
20% market share by value. Estimated market shares are based on
external research by MBD.
In terms of competitive positioning Topps sits between the DIY chains
and the independent tile retailers. In the UK there is one other 
significant chain, Tiles R Us but they also sell bathrooms and kitchens.
Key Performance Indicators
The directors monitor a number of financial metrics and key 
performance indicators (KPIs) for the group and by store, including:
 Like for like Sales
 Sales value per transaction
 Gross Profit
The directors receive daily information on these and other metrics and
KPIs for the Group as a whole.
In addition, the directors receive information on non financial metrics
such as customer satisfaction questionnaires and Mystery Shopper
surveys.
Key Strengths and Resources
Customer satisfaction is Topps No.1 priority. We are committed to the
highest levels of customer service, it is our policy to be honest, helpful
and knowledgeable.
In addition, we provide a range of services offering practical support at
every stage of the job including Loan-a-Tile, free 'How to' video or DVD,
tile cutting and Topps buy-back service for unused tiles.
The quality and range of products offered is the widest in the market
with over 17,000 separate product lines. 
Risks and Uncertainties
Risks to the business include its relationship with key suppliers, the
potential threat of competitors, the risk that key information 
technology or EPOS systems could fail; the loss of key personnel; the
risk of a prolonged economic recession and development of substitute
products.
The directors routinely monitor all these risks and uncertainties and
appropriate actions are taken to mitigate the risks or their potential
outcomes.
Financial review
Profit and Loss Account
Turnover
During the period Group turnover increased by 10.0% to £173.3 
million from £157.6 million last year. Like-for-like sales increased by
3.4%, with new store openings contributing a further 8.7% increase,
with the difference of 2.1% being due to the 53 week comparison in
the prior period.
Gross margin
Overall gross margin was 61.3% compared to 60.5% last year. At the
interim point of this period gross margin was 61.9%. The second half
of the period  has shown a gross margin of 60.7% which reflects the
tougher trading conditions in this period.
Operating expenses
Overall costs have increased from £62.8 million to £69.3 million which
is an increase of 10.4%. New stores accounted for 6.9% with the
remaining 3.5% due to like for like increases. Costs as a percentage of
sales were 40.0% compared to 39.9% last year. 
Profit before tax
We have achieved an overall increase in profit before tax of 16.1% to
£39.2 million compared to a profit before tax of £33.8 million last year.
This period’s profit before tax includes £1.7 million of exceptional 
profit, compared to £542,000 last year, following the sale and
leaseback of four freehold properties. 
Profit before tax margin
Group profit before tax margin has increased to 22.6% from 21.4% last
year. This increase of 1.2 percentage points has been achieved 
primarily by an increase in gross margin of 0.8 percentage points less 
a slight increase in operating costs of 0.1 percentage points with the
remainder being reflected in the exceptional profit on disposal of fixed
assets and interest receivable.
Taxation
The effective rate of Corporation Tax was 23.1% (53 weeks ended 2
October 2004: 24.1%) and we have continued to fully provide for
deferred taxation in line with FRS19. The effective rates of tax for both
financial periods have been favourably affected by statutory 
deductions for share options exercised and intra-Group restructuring
benefits.
Charts
Financial information in the charts displayed on pages 2,6,8,10,12,14,
16 and 18 is based on the Annual Report and Financial Statements for
the 52 week periods ending 2 June 2001, 1 June 2002, and 1 October
2005, the proforma unaudited statements for the 52 week period
ended 27 September 2003, and the 53 week period ended 2 October
2004 . TOPPS TILES PLC 
Annual Report and Financial Statements 2005 14
40.0%
Costs as a percentage of sales
£27.8m
Cash reserves position as at
1 October 2005
Basic earnings per share (pence) 
2001 
0 
3 
9 
12 
15 
2002 2003 2004 2005 
6 
3.0* 
3.6* 
5.8* 
11.3 
13.3 
Source : see page 13  Earnings per share
Basic earnings per share has grown to 13.34 pence compared to 11.30
pence last year, an increase of 18.1%. Diluted earnings per share were
13.24 pence compared to 11.12 pence last year, an increase of  19.1%.
Dividend and dividend policy
The Board is recommending a final dividend of 6.00 pence per share,
which will give a total dividend for the period of 9.50 pence compared
to 8.00 pence last year an increase of 18.8%. This maintains our 
dividend cover at 1.41 times.
Balance Sheet
Capital expenditure
Capital expenditure in the period amounted to £8.8 million. This
includes the cost of acquiring two freehold sites for £3.6 million and
development stores site costs of £0.1 million.   
We have also opened 27 new stores and undertaken preparatory work
on a further two stores at a cost of £3.0 million and undertaken major
refurbishment of a further 15 stores at a cost of £0.7 million and other
re-fit costs of £0.8 million. We continue to update and expand our IT
systems within the business and this coupled with some motor vehicle
renewals accounted for £0.6 million.
At the period end the Group owned six freehold sites, two development
sites and both the Topps and Tile Clearing House distribution and 
marketing centres, which have a total net book value of £12.0 million.
Stock
Stock at the period end represents 137 days turnover compared to 143
days for the same period last year.
Capital structure
Cash reserves at the period end were £27.8 million and borrowings
were £6.0 million, the latter being to help fund the cost of the new
Topps distribution and marketing centre which was opened in April
2004. This gives the Group a net funds position of £21.8 million 
compared to £23.1 million as at 2 October 2004.
The highly cash generative nature of our business means that the
Group has always been able to fund its new store expansion 
programme from its own resources and to purchase freehold sites as
suitable opportunities arise.
The Group expects that the business will continue to be cash 
generative and may look to repay part or all of the £6.0 million 
borrowings in 2006.
Cash flow
Net cash inflow from operating activities was £35.8 million, £2 million
below last year. Higher trading profit for the Group was offset by 
higher cash outflows on working capital. This is due primarily to a
decrease in Creditors as the Group now pays its employee bonuses on
a quarterly basis rather than on an annual basis.
Share buy-backs
In the financial period the Group has bought back 1,722,115 Ordinary
Shares at a cost of £3.77 million. This primarily is to stop any dilution
occurring as employee share options are exercised and sold. However
the Group has also, on occasion, acquired shares when the Board 
considers there is an opportunity to do so in the market. All of the
shares acquired have now been cancelled.
Joint venture in Holland
The joint venture in Holland continues to develop with two new stores
opened in the period to bring the total to 13 stores. The Group owns
50% in the joint venture with the other 50% owned by the Dutch 
management team. The Group’s Profit and Loss Account shows
turnover of £2.3 million (2004 : £1.8 million) and operating profit
before tax of £56,000 (2004 : £39,000) from the venture which reflects
the Group’s 50% holding.
Change in accounting policies
During the financial period there have been no changes to the
accounting policies of a material nature compared to the 
previous financial period.
International Financial Reporting Standards (IFRS)
The Group is working closely with its auditors to implement these
changes. The Group is required to adopt IFRS for the financial period
commencing 2 October 2005. However, the Group intends to make an
announcement in January 2006 to show the impact of the changes.
Post balance sheet events
The Board confirms that there have been no events after the Balance
sheet date requiring adjustment or disclosure in the financial state-
ments for the period ended 1 October 2005.
Annual General Meeting
The Annual General Meeting for the period to 1 October 2005 will be
held on 10 January 2006 at 10.30am at Topps Tiles Plc, Thorpe Way,
Grove Park, Enderby, Leicestershire LE19 1SU, which is our Topps distri-
bution and marketing centre.
Nicholas Ounstead Andrew Liggett
Chief Executive Officer Finance Director
OPERATING AND FINANCIAL REVIEW continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 15 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 16
Source : see page 13 
Dividend level (pence) 
Dividend cover (times) 
2001 
0 
1.5 
2 
8 
10 
2002 2003 2004 2005 
1.0 
0.5 
3.0 
2.5 
2.0 
0 
6 
4 
2.9 
2.5 
1.67 
1.41 1.41 
 
1.00 
1.43 
3.48 
8.00 
9.50 
Asthma UK was the natural choice of
charity for Topps to adopt, as our
products help to reduce the levels of
house dust mites which are one of
the triggers of asthma attacks.
225
youth teams wear kit and play 
with equipment provided by our
sports sponsorship scheme TOPPS TILES PLC 
Annual Report and Financial Statements 2005 17
Introduction
Corporate Social Responsibility is not new to Topps Tiles. We know that
a reputation for acting responsibly helps build our business through
customer recommendation.  
This is why we pride ourselves on our commitment to product quality,
customer service excellence, good environmental management and to
making a positive contribution to the communities where we do 
business.  
In 2004, we set up a social and environmental responsibility working
group chaired by a Board director. The purpose of this group was to
review how we were doing and to look for opportunities for 
improvement. Much has been achieved. For example, we have set up a
new way of including corporate social responsibility as part of our risk
assessment.  
Our Website demonstrates progress we have made on Corporate Social
Responsibility an extension of the way we have done and will continue
to do our business. In it we describe our approach towards:
 Community relations   
 Environment
 Workplace
 Supply Chain
Our Approach 
Andrew Liggett, the Finance Director for Topps Tiles Plc is the Chairman
and the Board director responsible for the Social and Environmental
policy.
Topps has established a social and environmental responsibility 
working group to further our consideration of corporate responsibility
issues generally, but with a specific focus on environmental 
management. The members of the working group are the Group
Finance Director, the Head of Human Resources, the Buying Director
and the Internal Audit Manager. We are supported in these initial
stages of establishing our environmental management systems by the
use of a specialist environmental consultancy. 
Together, the members of the working group are accountable for 
developing and improving our environmental management practice.
Each member of the working group is responsible for implementing
those elements of the environmental policy relevant to their functions.
Topps Tiles believe that environmental responsibility should be an 
integral part of how we manage our business. This is why we have
established such a senior working group to oversee our progress in 
this area.
Community relations
Topps is one of the biggest supporters of youth football in the UK, 
providing new kits and equipment to junior teams local to our stores.
We have a policy of building local brand awareness of Topps Tiles and
Tile Clearing House through involvement with young people.
Probably our most well-known community project is our youth sports
sponsorship, providing new kits and equipment to juniors in each
town where we have an outlet. This has made Topps one of the biggest
supporters of youth football in Britain and we now have over 225
teams playing regularly in our colours.
CORPORATE AND SOCIAL RESPONSIBILITY (CSR)
Many responsibilities -
one response
Making a positive contribution to the
communities where we do business
and to the environment as a whole. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 18
20+
schools have benefited from
our ‘computers for schools’
scheme
Average number of employees (The Team)  
during the financial periods 
2001 
Source : see page 13 
0 
500 
1,000 
2,000 
1,500 
2002 2003 2004 2005 
941 
1,070
1,176 
1,327
1,513 
Strong culture of internal 
promotion
Case Study
Len Denton (right) from Topps
Tiles Southend has painted many 
valued murals at the local 
hospital and plans are underway
in 2005 for a giant mosaic using
12,000 individual pieces of 
broken tiles. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 19
CORPORATE AND SOCIAL RESPONSIBILITY (CSR) continued
We also take great pride in our fund raising achievements for our
adopted charity Asthma UK. This is our fifth year of support for the
charity which aims to conquer this respiratory disorder which affects
over one million children in the UK. Asthma UK was the natural choice
of charity for Topps to adopt, as our products help to reduce the levels
of house dust mites which are one of the triggers of asthma attacks.
Our staff contributed greatly to the fundraising by holding sponsored
events and in total with our Company donation of £10,000 we raised
over £75,000 for this worthy cause.
As well as sport there is also education, where via our product
catalogue schools can win valuable computer equipment. Since the
scheme started, over 20 schools have benefited nationwide.
Environment
Respect for the environment is an accepted part of modern day 
business management.
At Topps, we recognise that our day-to-day activities impact on the
environment and aim to minimise the harmful effects whenever we
can. This year, we began a company-wide programme to improve our
environmental performance, to review our policies, to put in place
management systems to monitor and measure our performance and
to set targets for improvement.
Much has been achieved but there is more to do. We have:
 assigned board responsibility for environmental management
 established our approach to environmental management
 updated our environmental policy
 identified our most important environmental impacts
 put in place systems to collect data to measure our performance 
and set targets for improvement.
Market place
The Group works closely with key suppliers to source and distribute
products that contribute positively to environmental performance.
The Group has developed an environmental policy on timber products
and has adopted the principles and criteria of the Forest Stewardship
Council as its benchmark.
Workplace
Topps’ businesses comply with current employment legislation and
work with employees and local management of each branch to create
a positive and equitable working environment.
There is a strong culture of internal promotion and regular dialogue on
job and career development.
Topps is committed to promoting equal opportunities for all, and we
believe that we have the right policies in place to meet this objective.
The Group also operates an employee suggestion scheme which is
overseen by the Chairman, Barry Bester, which allows all employees to
give suggestions which can help improve the business whether it be
operational, environmental or social.
An in-house magazine is produced six times a year and sent to all
employees as a further way of keeping everybody informed of the
developments within the business.
Health and safety
The Group has a well documented and clear policy that is 
implemented rigorously throughout the business. We operate a 
Health and Safety Committee which meets on a regular basis and it’s 
members are representative of all areas of the business and is chaired
by our Chief Executive.
Supply Chain
Topps Tiles purchases around £70m of goods each year. The majority of
our purchases are ceramic tiles and we also purchase stone, wood and
laminate and adhesives. We source our products from around the
World.    
Labour Standards and Environmental Responsibility are issues of 
growing importance. Topps Tiles has reviewed how it considers these
issues with regard to its supplier relationships and has adopted:
 A policy on Labour Standards and Human Rights
 A standard clause on environmental protection which will be 
introduced into all new contracts and existing contacts on renewal.
Our buyers also have a regular programme to visit our suppliers, to 
discuss these issues.  
Our full policy and established targets can be viewed on our website at
www.toppstiles.co.uk and can be found in the Investors section under
Corporate Responsibility. EXECUTIVE DIRECTORS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 20
Company Secretary
Secretary of Nomination Committee
Social and Environmental Responsibility Chairman
Andrew joined Topps Tiles in 1995 as Finance Director.
Prior to joining the Group, he worked for Gold Crown
Group Limited where he was employed for ten years,
initially as Management Accountant and then as
Finance Director. He is responsible for the accounting,
financial control, treasury, administration and Group
secretarial matters.
Health and Safety Committee Chairman
Nicholas joined Topps Tiles in April 1997. Prior to this
he was Marketing Director at Bellegrove Ceramics Plc
which is a major supplier to DIY chains and 
independent retailers. In September 2001 he was
appointed Chief Operating Officer and promoted to
Chief Executive Officer in October 2002. Nicholas is
also Chairman of the Health and Safety Committee
and has overall responsibility for the day-to-day 
operations of the business.
Member of Nomination Committee
Barry was a founder shareholder and Director of Topps
Tiles in 1984. His principal responsibilities are those of
Group Strategy along with overseeing development of
the joint venture in Holland. 
He is also responsible for the Company’s employee 
suggestion scheme.
Andrew Liggett
Finance Director
(aged 44)
Nicholas Ounstead 
Chief Executive Officer
(aged 45)
Barry Bester 
Executive Chairman
(aged 48) NON-EXECUTIVE DIRECTORS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 21
Member of Audit Committee
Member of Nomination Committee
Michael’s business career has seen him in 
management capacities with Proctor & Gamble and
Marks & Spencer. In 1987 he became MP for Fylde and
by 1990 had begun a ministerial career that saw him
serve in the DSS, Home Office, MAFF and finally the
Treasury as Financial Secretary. He joined the Board of
Topps Tiles in 1999.
Member of Audit Committee
Chairman of Nomination Committee
Victor  was formerly Chairman of Waddington Plc. 
He joined the Board of Topps Tiles in 1997.
Chairman of Audit Committee
Member of Nomination Committee
Alan qualified as a Chartered Accountant with Deloitte.
He was one of the founders and the former Group
Finance Director of Punch Group Ltd. He joined the
Board of Topps Tiles in 1997.
Rt. Hon Michael Jack Privy Councillor MP
Non-Executive Director
(aged 59)
Victor Watson CBE 
Non-Executive Director
(aged 77)
Alan Mclntosh CA
Senior Non-Executive Director
(aged 37) OPERATIONAL DIRECTORS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 22
Adrian joined the business in 1998
having spent his entire working life in
sales, including time in the USA with 
JC Penney.
Ray joined the Company in 2002 and
has over 30 years of sales experience
including eight years with Wickes.
Matt joined the Company in 1998 after
completing his Chartered Surveyors
exams and took up a role in the 
property department. In 2004 he was 
promoted to Chief Operating Officer.
Martin joined the Company in 1978
and has worked in many different
positions in his time with the business.
Adrian McCourt
Southern Operations Director
(aged 47)
Martin Shenton
Midlands and South West
Operations Director
(aged 50)
Ray Tricker
Northern Operations Director
(aged 49)
Matt Williams
Chief Operating Officer
(aged 31) TOPPS TILES PLC 
Annual Report and Financial Statements 2005 23
John joined the Company in 1998 after
twelve years in the tile business,
including three years with Great Mills
DIY.
Colin joined the business in 1995 and
has played a key role in implementing
and developing our store Epos systems.
Alan joined the Company in 1984 as
Store Manager and progressed to Area
Manager before taking up his current
role in 2002.
John Reilly
Buying Director
(aged 44)
Colin Hampson
IT Director
(aged 33)
Alan Saunders
Marketing Director
(aged 42) Directors
B.F.J. Bester
Executive Chairman
N.D. Ounstead
Chief Executive Officer
A. Liggett FCMA
Finance Director
W.A. McIntosh CA
Senior Non-Executive Director
V.H. Watson CBE
Non-Executive Director
The RT. Hon. J.M. Jack, Privy Counsellor, MP
Non-Executive Director
Secretary
A. Liggett FCMA
Registered Number
3213782
Registered Office
Rushworth House
Wilmslow Road
Handforth
Wilmslow
Cheshire SK9 3HJ
Advisors
President
S.K.M. Williams FCA
President (from 1 April 2005)
Auditors
Deloitte & Touche LLP  
201 Deansgate
Manchester M60 2AT
Bankers
HSBC Bank Plc
56 Queen Street
Cardiff CF10 2PX
Registrars
Capita IRG Plc
Bourne House
34 Beckenham Road
Beckenham
Kent BR3 4TU
Solicitors
TLT Solicitors
1 Redcliff Street
Bristol BS99 7JZ
Sinclair Abson Smith Lawyers
19 Market Place
Stockport SK1 1HA
Beachcroft Wansbroughs Solicitors
St. Ann’s House
St. Ann Street
Manchester M2 7LP
Stockbrokers
KBC Peel Hunt Limited
111 Old Broad Street
London EC2N 1PH
DIRECTORS AND ADVISORS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 24 FINANCIAL STATEMENTS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 25
CONTENTS
26 DIRECTORS’ REPORT
29 CORPORATE GOVERNANCE STATEMENTS
31 REMUNERATION REPORT
36 INDEPENDENT AUDITORS’ REPORT
38 CONSOLIDATED PROFIT AND LOSS ACCOUNT
39 BALANCE SHEETS
40 CONSOLIDATED CASH FLOW STATEMENT
41 NOTES TO THE FINANCIAL STATEMENTS
60 FIVE YEAR RECORD
61 NOTICE OF ANNUAL GENERAL MEETING
64 EXPLANATORY NOTES TO THE NOTICE OF 
ANNUAL GENERAL MEETING
66 FINANCIAL CALENDAR
67 THE TEAM
72 STORE LOCATIONS DIRECTORS’ REPORT For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 26
The directors present their report on the affairs of the Group, together with the financial statements and auditors’ report, for the 52 week period
ended 1 October 2005.
Principal activity and business review
The principal activity of the Group comprises the retail and wholesale distribution of ceramic tiles, wood flooring and related products.
Details of the Group’s performance during the period and expected future developments are contained in the Chairman’s Statement and Chief
Executive’s and Financial reviews on pages 3 to 15 of the report and financial statements.
Results and dividends
The audited financial statements for the 52 week period ended 1 October 2005 are set out on pages 38 to 59. The Group’s profit for the period,
after taxation, was £30,189,000 (53 weeks ended 2 October 2004 - £25,648,000).
An interim dividend of 3.50 pence per share, £7,983,000, was paid on 30 June 2005.                                   
The directors recommend a final dividend of 6.00 pence per share, £13,576,000, making a total of 9.5 pence per share, £21,559,000 (2004 – total
dividend 8.00p per share, £18,195,000). Subject to approval by the shareholders at the Annual General Meeting, to be held on 10 January 2006,
the final dividend will be paid on 31 January 2006, to shareholders on the register at the close of business on 13 January 2006.
Directors
The directors who have served during the financial period were as follows:
S.K.M. Williams President (Stepped down as Co-Chairman and Director 31 March 2005)
B.F.J. Bester Executive Chairman (Co-Chairman to 31 March 2005) 
N.D. Ounstead Chief Executive Officer
A. Liggett Finance Director
W.A. McIntosh Senior Non-Executive Director
V.H. Watson Non-Executive Director
J.M. Jack Non-Executive Director 
Stuart Williams stepped down from his position as Director and Co-Chairman on 31 March 2005 and took up the new position of  President. The
directors’ interests in the shares of the Company are set out on page 35.
Share capital
Details of the Company’s authorised and issued share capital are shown in note 19  to the financial statements.
Supplier payment policy
The Group’s policy is to settle terms of payment with suppliers when agreeing the terms of each transaction, ensuring that suppliers are made
aware of the terms of payment and that both parties abide by those terms.
The effect of the Group’s negotiated payment policy is that trade creditors at the period end represented 44 days purchases (2004 - 49 days).  Charitable and political contributions
During the period the Group made charitable donations of £10,000 to the ‘Tsunami Appeal’ and £10,000 to Asthma UK. The Group made no 
political contributions.
Substantial shareholdings
In addition to the directors’ shareholdings noted on page 35, on 3 November 2005 the Company had been notified, in accordance with Sections
198 to 208 of the Companies Act 1985, of the following interests in 3% or more of its issued share capital.
Number % held
HSBC Global Custody Nominee (UK) Limited 39,977,000 17.7%
Chase Nominees Limited 35,738,000 15.8%
S.K.M. Williams 23,808,600 10.5%
State Street Nominees Limited 16,847,000 7.4%
BNY (OCS) Nominees Limited 9,754,000 4.3%
Vidacoss Nominees Limited 9,626,000 4.3%
BBHISL Nominees Limited 8,210,000 3.6%
Bank of New York (Nominees) Limited 7,467,000 3.3%
Disabled employees
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the
event of members of staff becoming disabled, every effort is made to ensure that their employment with the Group continues and that
appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as
far as possible, be identical with that of other employees.
Employee consultation
The Group places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them
as employees and on the various factors affecting the performance of the Group. This is achieved through formal and informal meetings and the
Company magazine. Employee representatives are consulted regularly on a wide range of matters affecting their current and future interests.
Share option schemes
The directors recognise the importance of motivating employees and believe that one of the most effective incentives is increased employee
participation in the Company through share ownership.
This has been achieved through the introduction of a number of employee sharesave, share bonus, approved and unapproved share option
schemes, since the flotation in 1997.
The total of options held by employees, excluding directors, is 1,858,455. The directors will continue to incentivise employees through additional
employee share option schemes in the forthcoming financial period.
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 27 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 28
DIRECTORS’ REPORT continued
Auditors
A resolution to re-appoint Deloitte & Touche LLP as the Company’s auditor will be proposed at the forthcoming Annual General Meeting.
Statement of Directors’ Responsibilities
United Kingdom company law requires the directors to prepare Financial Statements for each financial period which give a true and fair view of
the state of affairs of the Company and Group as at the end of the financial period and of the profit of the Group for that period. In preparing
those Financial Statements, the directors are required to:
 select suitable accounting policies and then apply them consistently;
 make judgements and estimates that are reasonable and prudent; and
 state whether applicable accounting standards have been followed.
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the Group has adequate resources to continue in 
operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the Group accounts.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of
the Company and enable them to ensure that the Financial Statements comply with the Companies Act 1985. They are also responsible for 
safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Board
A Liggett
Director and Company Secretary
29 November 2005 In June 1998 the Hampel Committee and the London Stock Exchange published the Combined Code on corporate governance. This combines the
Cadbury Code on corporate governance, the Greenbury Code on directors’ remuneration and new requirements arising from the findings of the
Hampel Committee.
Statement of compliance with the Code of Best Practice
The Company has complied throughout the period with the Provisions of the Code of Best Practice set out in section 1 of the Combined Code
except for the provisions of A6.1. In this regard to A6.1 the Board does not currently undertake formal appraisal of its own performance and 
that of its committees but is currently in the process of completing such an appraisal. The Board considers this non-compliance with the
Combined Code to be justified in view of the size of the Group and in this respect supports the recommendations of the City Group for smaller
companies. The Company complies with all other provisions of the code.
Code Provision D.3.1 requires the members of the audit committee to be named in the report and financial statements. Mr. W.A. McIntosh
(Chairman), Mr. V.H. Watson and Mr. J.M. Jack have served on the committee throughout the period.
Attendance at Board/Committee meetings
The following table shows the number of Board and Committee meetings held during the 52 week period ended 1 October 2005 and the 
attendance record of the individual directors.
Board Audit Remuneration Nomination
Of directors committee committee committee
Number of meetings 8221
B.F.J. Bester 8221
N.D. Ounstead 82 N/A N/A 
A. Liggett 82 N/A1 
W.A. McIntosh 7221
V.H. Watson 8221
J.M. Jack 8221
S.K.M. Williams (Stepped down on 31/03/2005) 4 2 N/A N/A 
Statement about applying the Principles of Good Governance
The Company has applied the Principles of Good Governance set out in section 1 of the Combined Code by complying with the Code of Best
Practice as reported above. Further explanation of how the Principles have been applied in connection with directors’ remuneration is set out in
the Remuneration Report.
Audit Committee
The Audit Committee is chaired by Alan McIntosh and is authorised by the Board to liaise with the external auditors on the nature and scope of
the audits, review the Audit Report and it’s findings and to ensure the Company’s internal control systems are adequate via liaison with the
Internal Audit department.
CORPORATE GOVERNANCE STATEMENTS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 29 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 30
Nomination Committee
The Nomination Committee is chaired by Victor Watson CBE and is authorised by the Board to maintain an ongoing review with the purpose of
making recommendations for Board appointments.
Dialogue with institutional shareholders
The directors seek to build on a mutual understanding of objectives between the Company and its institutional shareholders by making annual
presentations and communicating regularly throughout the year. The Company also posts financial information on its website
www.toppstiles.co.uk.
Maintenance of a sound system of internal control
The Board has applied Principle D.2 of the Combined Code by establishing a continuous process for identifying, evaluating and managing the 
significant risks the Group faces. The Board regularly reviews the process, which has been put in place from the start of the period to the date of
the approval of this report and which is in accordance with Internal Control: Guidance for Directors on the Combined Code published in
September 1999. The Board is responsible for the Group’s system of internal control and for reviewing its effectiveness. Such a system is designed
to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance
against material misstatement or loss.
In compliance with Provision D.2.1 of the Combined Code, the Board continuously reviews the effectiveness of the Group’s system of internal 
control. The Board’s monitoring covers all controls, including financial, operational and compliance controls and risk management. It is based
principally on reviewing reports from management to consider whether significant risks are identified, evaluated, managed and controlled and
whether any significant weaknesses are promptly remedied and indicate a need for more extensive monitoring. The Board has also performed a
specific assessment for the purposes of this annual report. This assessment considers all significant aspects of internal control arising during the
period covered by the report including the work of internal audit. The audit committee assists the Board in discharging its review responsibilities.
CORPORATE GOVERNANCE STATEMENTS continued REMUNERATION REPORT
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 31
Introduction
This report has been prepared in accordance with the Directors’ Remuneration Report Regulations 2002 which introduced new statutory 
requirements for the disclosure of directors’ remuneration in respect of periods ending on or after 31 December 2002. The report also meets the
relevant requirements of the Listing Rules of the Financial Services Authority and describes how the Board has applied the Principles of Good
Governance relating to directors’ remuneration. As required by the Regulations, a resolution to approve the report will be proposed at the Annual
General Meeting of the Company at which the financial statements will be approved.
The Regulations require the auditors to report to the Company’s members on the “auditable part” of the Directors’ remuneration report and to
state whether in their opinion that part of the report has been properly prepared in accordance with the Companies Act 1985 (as amended by
the Regulations). The report has therefore been divided into separate sections for audited and unaudited information.
Unaudited information
Remuneration committee
The Company has established a Remuneration Committee, which is constituted in accordance with the recommendations of the Combined Code.
The members of the committee are Mr. McIntosh, Mr. Watson and The RT. Hon. Mr. Jack who are all independent non-executive directors, with the
committee chaired by Mr. McIntosh.
None of the Committee has any personal financial interest (other than as shareholders), conflicts of interests arising from cross-directorships or
day-to-day involvement in running the business. The Committee makes recommendations to the Board. No director plays a part in any 
discussion about his own remuneration.
Remuneration policy
Executive remuneration packages are prudently designed to attract, motivate and retain directors of the high calibre needed to maintain the
Group’s position as a market leader and to reward them for enhancing value to shareholders. The performance measurement of the executive
directors and key members of senior management and the determination of their annual remuneration package are undertaken by the
Committee. The remuneration of the non-executive directors is determined by the Board within limits set out in the Articles of Association.
There are four main elements of the remuneration package for executive directors and senior management:
 basic annual salary (including directors’ fees) and benefits;
 long-term incentive plan;
 annual bonus payments;
 pension arrangements. REMUNERATION REPORT continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 32
Basic salary
An executive director’s basic salary is determined by the Committee prior to the beginning of each year and when an individual changes position
or responsibility. In deciding appropriate levels, the Committee considers the Group as a whole and relies on objective research which gives 
up-to-date information on a comparator group of companies. Basic salaries were reviewed in September 2005 with increases taking effect from 
1 October 2005. Executive director’s contracts of service which include details of remuneration will be available for inspection at the Annual
General Meeting.
In addition to basic salary, the executive directors receive certain benefits-in-kind, principally a car and private medical insurance.
Long-term incentive Plan (L–TIP)
The Topps Tiles Plc 2003 Executive L–TIP is a three year plan which is due to mature at the financial period ending 30 September 2006. The L–TIP
is a cash based plan with performance targets based on the Group profitability over the three year period. It is discretionary and will be operated
by the Board acting through the Remuneration Committee. The maximum total amount potentially payable to participants under the plan if 
performance criteria are met is £4,000,000. N.D. Ounstead and A. Liggett each have been granted a 25% interest in the L–TIP .
The payment of the individual awards under the scheme is dependent on the participant remaining in employment with the Group and the
Group achieving a cumulative total of at least £80,000,000 pre-tax profits (before any accrual for the L–TIP) over the three year period and the
diluted earnings per share as shown in the Group’s annual accounts must increase by an average of 15% per annum (compounded annually) over
the same period. In the event of a take-over, reconstruction or winding up of the Group, a proportion of awards will vest having regard to the
number of months of the performance period that have elapsed and any other relevant factors. 
Annual bonus payments
A discretionary annual cash bonus scheme represents the short term incentive element of the overall remuneration package for Mr. Liggett and
Mr. Ounstead. The committee establishes the objectives that must be met in the financial period if a cash bonus is to be paid. The maximum
bonus achievable in the period was £nil and for the period ending 30 September 2006 will be a total of £520,000 which is 100% of basic salaries.  
Pension arrangements
Mr. Bester, Mr. Ounstead and Mr. Liggett received contributions into their own personal pension schemes.
Directors’ contracts
Executive directors
It is the company’s policy that executive directors enter into a contract with a 12 month term providing for a maximum of six months notice.
Mr. Bester, Mr. Ounstead and Mr. Liggett have entered into new service contracts on 1 October 2005 in accordance with the above policy.
In the event of early termination, the directors’ contracts provide for compensation up to a maximum of six months basic salary for the notice
period. Directors’ contracts (continued)
Non-executive directors
All non-executive directors have specific terms of engagement and their remuneration is determined by the Board within the limits set by the
Articles of Association and based on independent surveys of fees paid to non-executive directors of similar companies. The basic fee paid to each
non-executive director in the period was £20,000. It is the Company’s policy that non-executive directors should have contracts with an indefinite
term providing for a maximum of six months notice. Non-executive directors cannot participate in any of the Company’s share option schemes
and are not eligible to join the Company’s pension scheme.
The details of the non-executive directors’ contracts are summarised in the table below:
Date of contract or Unexpired Notice
Name of director letter of appointment term period
W.A. McIntosh 27 May 1997 N/A 6 months
V.H. Watson 27 May 1997 N/A 6 months
J.M. Jack 26 January 1999 N/A 6 months
Performance graph
The following graph shows the company’s performance, measured by total shareholder return (“TSR”), compared with the performance of the
FTSE Index also measured by TSR. The index chosen for the comparison demonstrates the Group’s TSR in comparison to the average for FTSE 250
companies.
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 33
FTSE Mid 250
Excluding
Investment
Trusts
Topps Tiles Plc
100
0
200
300
400
500
600
3 June 2000 2 June 2001 1 June 2002 27 Sept 2003 2 Oct 2004 1 Oct 2005
TSR (Rebased to 100)
Graph showing TSR performance of Topps Tiles Plc against
FTSE Mid 250 Index (Excluding Investment Trusts)
for the period 3 June 2000 to 1 October 2005 REMUNERATION REPORT continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 34
Audited information
Aggregate directors’ remuneration
The total amounts for directors’ remuneration were as follows: 
52 weeks 53 weeks 
ended ended 
1 October 2 October 
2005 2004
£’000 £’000
Emoluments 902 959
Money purchase pension contributions 26 24
928 983
Directors’ emoluments 
Money 52 weeks 53 weeks
purchase ended ended
Basic Vehicle Benefits pension 1 October 2 October
Fees salary allowance in kind contributions 2005 2004
Name of director £’000 £’000 £’000 £’000 £’000 £’000 £’000
Executive directors
B.F.J. Bester – 182 – 22 6 210 204
S.K.M. Williams – 91 – 13 – 104 198
(Stepped down as Co-Chairman  31 March 2005)
N.D. Ounstead – 234 24 5 10 273 262
A. Liggett – 234 – 23 10 267 259
Non executive directors
W.A. McIntosh 20 –––– 20 20
V.H. Watson 20 –––– 20 20
J.M. Jack – 20 – – – 20 20
40 761 24 63 26 914 983
Directors’ share options
There were no options outstanding, granted to or exercised by directors during the period and therefore no gains were made by the directors.
The market price of the ordinary shares at 1 October 2005 was 172 pence and the range during the year was 159 pence to 270 pence. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 35
Directors interests
The directors had the following interest in the shares of the Company (all interests relate solely to Ordinary Shares).
1 October 2 October 
2005 2004
ordinary ordinary
shares of shares of 
2.5p each 2.5p each
B.F.J. Bester 18,541,600 18,541,600
N.D. Ounstead 493,500 493,500
A. Liggett 2,001,500 2,001,500
W.A. McIntosh 1,585,000 1,585,000
V.H. Watson 180,000 185,000
J.M. Jack 15,000 15,000
Approval
This report was approved by the Board of directors on 29 November 2005 and signed on its behalf by:
Alan McIntosh
Chairman of Remuneration Committee
29 November 2005 To the members of Topps Tiles Plc
We have audited the financial statements of Topps Tiles Plc for the 52 week period ended 1 October 2005 which comprise the consolidated profit
and loss account, the statement of total recognised gains and losses, the balance sheets, the consolidated cash flow statement and the related
notes 1 to 23. These financial statements have been prepared under the accounting policies set out therein. We have also audited the 
information in the part of the directors’ remuneration report that is described as having been audited.
This report is made solely to the Company’s members, as a body, in accordance with section 235 of the Companies Act 1985.  Our audit work has
been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditors’ report and for
no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the
Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of directors and auditors
As described in the statement of directors’ responsibilities, the Company’s directors are responsible for the preparation of the financial 
statements in accordance with applicable United Kingdom law and accounting standards. They are also responsible for the preparation of the
other information contained in the annual report, including the directors’ remuneration report. Our responsibility is to audit the financial 
statements and the part of the directors’ remuneration report described as having been audited in accordance with relevant United Kingdom
legal and regulatory requirements and auditing standards.
We report to you our opinion as to whether the financial statements give a true and fair view and whether the financial statements and the part
of the directors’ remuneration report described as having been audited have been properly prepared in accordance with the Companies Act 1985.
We also report to you if, in our opinion, the directors’ report is not consistent with the financial statements, if the Company has not kept proper
accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law
regarding directors’ remuneration and transactions with the Company and other members of the Group is not disclosed.
We review whether the corporate governance statement reflects the Company's compliance with the seven provisions of the Combined Code
specified for our review by the Listing Rules of the Financial Services Authority, and we report if it does not. We are not required to consider
whether the Board's statements on internal control cover all risks and controls, or form an opinion on the effectiveness of the Group's corporate
governance procedures or its risk and control procedures.
We read the directors’ report and the other information contained in the annual report for the above period as described in the contents section,
including the unaudited part of the directors’ remuneration report, and consider the implications for our report if we become aware of any 
apparent misstatements or material inconsistencies with the financial statements.
INDEPENDENT AUDITORS’ REPORT
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 36 Basis of audit opinion
We conducted our audit in accordance with United Kingdom auditing standards issued by the Auditing Practices Board. An audit includes 
examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements and the part of the directors’
remuneration report described as having been audited. It also includes an assessment of the significant estimates and judgements made by the
directors in the preparation of the financial statements and of whether the accounting policies are appropriate to the circumstances of the 
Company and the Group, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us
with sufficient evidence to give reasonable assurance that the financial statements and the part of the directors’ remuneration report described
as having been audited are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we
also evaluated the overall adequacy of the presentation of information in the financial statements and the part of the directors’ remuneration
report described as having been audited.
Opinion
In our opinion: 
 the financial statements give a true and fair view of the state of affairs of the Company and the Group as at 1 October 2005 and of the profit of
the Group for the 52 week period then ended; and
 the financial statements and part of the directors’ remuneration report described as having been audited have been properly prepared in 
accordance with the Companies Act 1985.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
Manchester
29 November 2005         
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 37 CONSOLIDATED PROFIT AND LOSS ACCOUNT For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 38
52 weeks 53 weeks 
ended ended 
1 October 2 October 
2005 2004
Audited Audited
Notes £’000 £’000
Turnover, group and share of joint venture 2 175,640 159,430
Less: share of joint venture turnover (2,314) (1,818)
Group turnover 173,326 157,612
Cost of sales (67,146) (62,282)
Gross profit 106,180 95,330
Operating expenses 3
- employee profit sharing (7,502) (7,853)
- other operating expenses (61,844) (54,968)
Group operating profit 36,834 32,509
Share of operating profit in joint venture 56 39
Group and share of joint venture’s operating profit 36,890 32,548
Exceptional profit on disposal of fixed assets 5 1,700 542
Profit on ordinary activities before finance income 38,590 33,090
Finance income (net) 6 642 704
Profit on ordinary activities before taxation 7 39,232 33,794
Tax on profit on ordinary activities 8 (9,043) (8,146)
Profit on ordinary activities after taxation 30,189 25,648
Dividends paid and proposed 9 (21,492) (18,155)
Retained profit for the year transferred to reserves 20 8,697 7,493
Earnings per ordinary share
- basic 10 13.34p 11.30p
- diluted 10 13.24p 11.12p
All activity has arisen from continuing operations.
There are no recognised gains or losses in the period (53 weeks ended 2 October 2004 – £9,000 foreign exchange gain).
A statement of movements on reserves is given in note 20.
The accompanying notes are an integral part of this consolidated profit and loss account. BALANCE SHEETS As at 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 39
Group Company 
1 October 2 October 1 October 2 October 
2005 2004 2005 2004
Notes £’000 £’000 £’000 £’000
Fixed assets
Goodwill 11 517 551 – –
Tangible assets 12 32,072 29,236 – –
Investments 13 – – 15,122 15,122
Joint venture undertaking 13
- share of assets 1,196 1,059 – –
- share of liabilities (971) (866) – –
32,814 29,980 15,122 15,122
Current assets
Stocks 25,338 24,373 – –
Debtors within one year 14 4,071 3,809 76,209 40,103
Debtors after one year 14 115 110 6,200 6,200
Cash at bank and in hand 17 27,829 29,624 – –
57,353 57,916 82,409 46,303
Creditors: Amounts falling due within one year 15 (39,775) (45,452) (44,214) (19,195)
Net current assets 17,578 12,464 38,195 27,108
Total assets less current liabilities 50,392 42,444 53,317 42,230
Creditors: Amounts falling due after more than one year 16 (9,394) (7,571) (3,394) –
Provisions for liabilities and charges 18 (2,345) (1,864) – –
Net assets 38,653 33,009 49,923 42,230
Capital and reserves
Called-up share capital 19 5,655 5,673 5,655 5,673
Share premium 20 5,575 4,889 5,575 4,889
Merger reserve 20 (399) (399) – –
Special reserve 20 – – 14,917 14,917
Treasury Shares 20 – (733) – (733)
Capital redemption reserve 20 190 137 190 137
Other reserve 20 – – 6,200 6,200
Profit and loss account 20 27,632 23,442 17,386 11,147
Equity shareholders’ funds 21 38,653 33,009 49,923 42,230
The accompanying notes are an integral part of these balance sheets.
The financial statements on pages 38 to 59 were approved by the Board of directors on 29 November 2005 and signed on its behalf by:
ND Ounstead A Liggett
Director Director CONSOLIDATED CASH FLOW STATEMENT For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 40
52 weeks 53 weeks 
ended ended 
1 October 2 October 
2005 2004
Notes £’000 £’000
Net cash inflow from operating activities 21(a) 35,766 37,770
Returns on investments and servicing of finance 21(b) 634 530
Taxation (8,864) (5,236)
Capital expenditure and financial investment 21(c) (4,272) (8,266)
Equity dividends (21,489) (11,534)
Cash inflow before financing 1,775 13,264
Financing 21(d) (3,570) (2,220)
(Decrease)/increase in cash in the period 21(e) (1,795) 11,044
The accompanying notes are an integral part of this Consolidated Cash Flow Statement. NOTES TO THE FINANCIAL STATEMENTS For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 41
1 Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the period and the preceding 
period:
a) Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable  United Kingdom 
accounting standards.
b) Basis of consolidation
The statutory Group profit and loss account and balance sheet consolidate the financial statements of Topps Tiles Plc and its subsidiary 
undertakings made up to 1 October 2005. The financial statements of Topalpha Limited have been consolidated using merger accounting 
principles. In all other cases, subsidiary undertakings have been accounted for using acquisition accounting principles and incorporate the 
results of the Group’s joint venture undertaking. The Group accounts for its own share of assets, liabilities and cash flows associated with this 
joint venture.
The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. No profit and loss 
account is presented for Topps Tiles Plc, as permitted by S230 of the Companies Act 1985. The Company’s profit after tax for the period, 
determined in accordance with the Act, was £38,738,000 (2 October 2004 - £36,035,000).
c) Financial period
The accounting period ends on the Saturday which falls closest to 30 September, resulting in financial periods of either 52 or 53 weeks.
d) Goodwill
Goodwill arising on the acquisition of subsidiary undertakings and businesses, representing any excess of the fair value of the consideration 
given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful 
economic life, which is twenty years. Provision is made for any impairment.
Goodwill of £ 15,080,000 arising on acquisitions in the period ended 30 May 1998  was written off to reserves in accordance with the 
accounting standard then in force. As permitted by the current accounting standard the goodwill previously written off to reserves has not
been reinstated on the balance sheet. On disposal or closure of a previously acquired business, the attributable amount of goodwill previously 
written off to reserves is included in determining the profit or loss on disposal.
e) Turnover
Turnover comprises the net amount receivable in respect of retail sales less goods returned during the period from third parties and excludes
value added tax.  NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 42
1 Accounting policies (continued)
f) Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.  Costs are only those costs that are directly 
attributable to bringing the asset into working condition for its intended use. Depreciation is provided to write off the cost of tangible 
assets, less estimated residual value, over their estimated useful lives, as follows:
Freehold buildings - 2% per annum on cost on a straight-line basis
Short leasehold land and buildings - over the period of the lease, up to 25 years
Fixtures and fittings - over 10 years or at 25% per annum on reducing balance basis as appropriate
Motor vehicles - 25% per annum on reducing balance
Freehold land is not depreciated.
Residual value is calculated on prices prevailing at the date of acquisition. 
g) Stocks
Stocks are stated at the lower of cost and net realisable value. Cost includes materials and an attributable proportion of distribution 
overheads based on normal levels of activity. Net realisable value is based on estimated selling price, less further costs expected to be 
incurred to completion and disposal.
h) Taxation
UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or 
substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where 
transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the 
balance sheet date. Timing differences are differences between the Group's taxable profits and its results as stated in the financial 
statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised
in the financial statements.
Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to 
reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured 
on a non-discounted basis.
i) Foreign currency
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction or, if hedged, at the forward contract
rate. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange 
prevailing at that date or, if appropriate, at the forward contract rate.
Any gain or loss arising from a change in exchange rates subsequent to the date of the transaction is included as an exchange gain or loss 
in the profit and loss account.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates 
ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations 
are reported in the statement of total recognised gains and losses. All other exchange differences are included in the profit and loss 
account. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 43
1 Accounting policies (continued)
k) Leases
Assets held under finance leases and hire purchase contracts, which confer rights and obligations similar to those attached to owned 
assets, are capitalised as tangible fixed assets and are depreciated over the shorter of the lease terms and their useful lives. The capital 
elements of future obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the 
period of the leases to produce a constant rate of charge on the balance of capital repayments outstanding. Hire purchase transactions are 
dealt with similarly, except that assets are depreciated over their useful lives.
Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis.  
Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term, 
except where the period to the review date on which the rent is first expected to be adjusted to the prevailing market rate is shorter than 
the full lease term, in which case the shorter period is used.
l) Investments
Fixed asset investments are shown at cost less provision for impairment.
m) Pension costs
For defined contribution schemes, the amount charged to the profit and loss account in respect of pension costs is the contributions 
payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or 
prepayments in the balance sheet.
n) Derivative financial instruments
The Group uses derivative financial instruments to reduce exposure to foreign exchange risk.  The Group does not hold or issue derivative 
financial instruments for speculative purposes.
For a forward foreign exchange contract to be treated as a hedge, the instrument must be related to actual foreign currency assets or
liabilities or to a probable commitment. It must involve the same currency or similar currencies as the hedged item and must also reduce 
the risk of foreign currency exchange movements on the Group’s operations. Gains and losses arising on these contracts are deferred and 
recognised in the profit and loss account, only when the hedged transaction has itself been reflected in the Group’s financial statements.
If an instrument ceases to be accounted for as a hedge, for example, because the underlying hedged position is eliminated, the instrument
is marked to market and any resulting profit or loss recognised at that time.
o) Finance costs
Finance costs of debt are recognised in the profit and loss account over the term of the debt at a constant rate on the carrying amount.  
Finance costs which are directly attributable to the construction of tangible fixed assets are capitalised as part of the cost of those assets. 
The commencement of capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that
are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to 
get the asset ready for use are complete. NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 44
2 Turnover
Turnover and profit before taxation are attributable to one activity, the retail and wholesale distribution of ceramic tiles, wood flooring and 
related products, and arise within the UK and Europe.
Turnover Profit before tax Net assets
52 weeks 53 weeks 52 weeks 53 weeks 52 weeks 53 weeks
ended ended ended ended ended ended
1 October 2 October 1 October 2 October 1 October 2 October
2005 2004 2005 2004 2005 2004
By Geographical origin £’000 £’000 £’000 £’000 £’000 £’000
United Kingdom 173,326 157,612 38,534 33,051 44,428 39,333
Mainland Europe 2,314 1,818 56 39 225 193
175,640 159,430 38,590 33,090 44,653 39,526
Bank loans and overdraft N/A N/A (6,000) (6,517)
Finance income (net) 642 704 N/A N/A
Profit on ordinary activities before taxation 39,232 33,794 N/A N/A
Total net assets N/A N/A 38,653 33,009
Turnover by destination is not materially different to that by geographical origin.
3 Operating expenses
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Distribution costs 46,348 41,176
Administrative expenses;
Other 15,496 13,792
Employee profit sharing 7,502 7,853
69,346 62,821 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 45
4 Staff costs
a) Staff costs
The average monthly number of employees (including executive directors) was:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
Number Number
employed employed
Selling 1,356 1,181
Administration 157 146
1,513 1,327
Their aggregate remuneration comprised:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Wages and salaries 26,477 25,354
Social security costs 2,984 2,936
Other pension costs (note 22(b)) 216 175
29,677 28,465
Details of director’s emoluments are disclosed on page 34.
5 Exceptional profit on disposal of fixed assets
The profit on disposal of fixed assets increased the tax charge by £510,000 (53 weeks ended 2nd October 2004: £130,622).  NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 46
6 Finance income (net)
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
Investment income £’000 £’000
Interest receivable and similar income 1,076 930
Interest payable and similar charges
Bank loans and overdrafts (372) (373)
Interest on VAT payments (64) –
Joint venture interest (27) (27)
Interest costs capitalised 29 174
Net finance charges (434) (226)
Net finance income 642 704
Finance costs have been capitalised based on a capitalisation rate of 4.5%, which is the weighted average of rates applicable to the Group’s 
general borrowings outstanding during the period.
7 Profit on ordinary activities before taxation
a) Profit on ordinary activities before tax is stated after charging/(crediting):
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Depreciation and amounts written off tangible fixed assets 3,363 2,729
Amortisation of goodwill 16 17
Joint venture goodwill 18 18
Loss on disposal of tangible fixed assets – 269
Exceptional profit on disposal of fixed assets (1,700) (542)
Operating lease rentals
- plant and machinery 746 563
- other 13,047 11,652
Remuneration to auditors
- audit 70 54
- other 47 181 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 47
7 Profit on ordinary activities before taxation (continued)
b) Exceptional operating items that have been charged in the period are as follows:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Impairment of display stands – 344
– 344
8 Tax on profit on ordinary activities
The tax charge comprises:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Current tax
UK corporation tax 8,688 7,573
Share of current tax paid by joint venture 16 19
Adjustments in respect of prior years
- UK corporation tax (142) 39
Total current tax 8,562 7,631
Deferred tax - Origination and reversal of timing differences (note 18) 481 515
Total tax on profit on ordinary activities 9,043 8,146 NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 48
8 Tax on profit on ordinary activities (continued)
The differences between the total current tax shown above and the amount calculated by applying the standard rate of UK corporation tax 
to the profit before tax is as follows:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Profit on ordinary activities before tax 39,232 33,794
Tax on profit on ordinary activities at standard UK corporation tax rate of 30% 11,770 10,139
Effects of:
Intra-Group restructuring (540) –
Net income not chargeable for tax purposes (1,590) (869)
Capital allowances in excess of depreciation (297) (475)
Depreciation on tangible fixed assets which do not qualify for capital allowances 128 196
Savings from Share Symmetry on options exercised (729) (1,408)
Accounting profit in excess of chargeable gains on sale of freehold property (38) –
Higher tax rate on overseas earnings – 9
Adjustments to tax charge in respect of prior periods (142) 39
Current tax charge for period 8,562 7,631
9 Dividends
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Interim paid 3.50p (2004 – 2.00p) per ordinary share 7,983 4,602
Final proposed 6.00p (2004 – 6.00p) per ordinary share 13,576 13,593
Over provision in respect of the prior period final dividend (67) (40)
Total 9.50p (2004 – 8.00p) per ordinary share 21,492 18,155 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 49
10 Earnings per share
The calculation of earnings per share is based on the earnings for the financial period attributable to equity shareholders and the weighted 
average number of ordinary shares as follows:
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
Number Number
of shares of shares
Weighted average number of shares
For basic earnings per share 226,351,825 226,881,069
Weighted average of shares under option 1,678,222 3,868,815
For diluted earnings per share 228,030,047 230,749,884
11 Goodwill
Total
£’000
Cost
At 3 October 2004 and 1 October 2005 693
Amortisation
At 3 October 2004 142
Charge for the period 34
At 1 October 2005 176
Net book value
At 1 October 2005 517
At 2 October 2004 551 NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 50
12 Tangible fixed assets
Land and buildings
Fixtures
Short and Motor
Freehold leasehold fittings vehicles Total
£’000 £’000 £’000 £’000 £’000
Group
Cost
At 3 October 2004 11,204 1,293 25,548 346 38,391
Additions 3,548 88 5,067 88 8,791
Disposals (2,342) – (117) (185) (2,644)
At 1 October 2005 12,410 1,381 30,498 249 44,538
Depreciation
At 3 October 2004 278 700 8,127 50 9,155
Charge 203 81 3,015 64 3,363
Disposals (57) – 32 (27) (52)
At 1 October 2005 424 781 11,174 87 12,466
Net book value
At 1 October 2005 11,986 600 19,324 162 32,072
At 2 October 2004 10,926 593 17,421 296 29,236
Freehold land and buildings include £372,466 (2004 - £406,535) of assets under construction and £2,160,000 of land (2004 - £2,160,000) 
on which no depreciation has been charged in the current period.
Cumulative finance costs capitalised included in the cost of tangible fixed assets amount to £370,000 (2004 - £341,000) for the Group. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 51
13 Fixed asset investments
Company
1 October 2 October
2005 2004
£’000 £’000
Cost
Subsidiary undertakings 14,640 14,640
Joint venture 482 482
15,122 15,122
The Company and the Group have investments in the following subsidiary undertakings and joint ventures which principally affected the 
profit or net assets of the Group. To avoid a statement of excessive length, details of investments which are not significant have been 
omitted.
% of issued Principal
shares held activity
Subsidiary undertaking
Topalpha Limited* 100% Property management and investment
Multi Tile Limited 100% Retail and wholesale of ceramic tiles, wood flooring and related products
Topps Tiles (UK) Limited 100% Retail and wholesale of ceramic tiles, wood flooring and related products
Topps Tiles Distribution Ltd 100% Wholesale and distribution of ceramic tiles, wood flooring and related products.
Joint venture undertaking
Topps Tiles Holdings BV* 50% Retail and wholesale of ceramic tiles, wood flooring and related products
*held directly by Topps Tiles Plc
The investments are represented by ordinary shares.
All undertakings are incorporated in Great Britain and are registered and operate in England and Wales except for Topps Tiles (Holland) BV 
which is registered and incorporated in the Netherlands.
Joint venture
1 October 2 October
2005 2004
£’000 £’000
Group
Share of gross assets 1,196 1,059
Share of gross liabilities (971) (866)
Share of net assets 225 193 NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 52
14 Debtors
Group Company
1 October 2 October 1 October 2 October
2005 2004 2005 2004
£’000 £’000 £’000 £’000
Amounts falling due within one year:
Trade debtors 238 635 – –
Loan to joint venture – – – –
Amounts owed by subsidiary undertaking – – 76,209 40,103
Other debtors 523 651 – –
Prepayments and accrued income 3,310 2,523 – –
4,071 3,809 76,209 40,103
Amounts falling due after one year:
Loan to joint venture 115 110 – –
Amounts owed by subsidiary undertaking – – 6,200 6,200
115 110 6,200 6,200
15 Creditors: Amounts falling due within one year
Group Company
1 October 2 October 1 October 2 October
2005 2004 2005 2004
£’000 £’000 £’000 £’000
Bank loans and overdrafts (note 17) – 517 30,097 2,615
Trade creditors 14,389 14,649 9 3
Other creditors 4,114 4,109 151 215
Corporation tax 3,640 3,942 – 15
Proposed dividend 13,576 13,593 13,576 13,593
Accruals and deferred income 4,056 8,642 381 2,754
39,775 45,452 44,214 19,195
16 Creditors: Amounts falling due after more than one year
Group Company
1 October 2 October 1 October 2 October
2005 2004 2005 2004
£’000 £’000 £’000 £’000
Bank loan (note 17) 6,000 6,000 – –
Accruals and deferred income 3,394 1,571 3,394 –
9,394 7,571 3,394 – TOPPS TILES PLC 
Annual Report and Financial Statements 2005 53
17 Derivatives and other financial instruments
The Group holds financial instruments to finance its operations, and to manage interest rate and currency risks arising from its operations.
Consequently the main risks arising from the Group’s operations are liquidity risk, interest rate risk and currency risk.
Liquidity risk
The Group’s objective is to maintain continuity of funding through the use of retained profits and medium to long-term borrowings. The 
maturity profiles of the Group’s borrowings are detailed in section (c) of this note.
Interest rate risk
The Group’s objective is to manage the exposure to interest rate fluctuations whilst trying to minimise the cost of capital of the Group.  
Currency risk
The Group has transactional currency exposures which arise from purchases by subsidiary undertakings in currencies other than the 
functional currency of the Group. The Group’s policy is to periodically use forward contracts to hedge those transactions to eliminate any 
significant currency exposure. The frequency and amount hedged is decided by the Board and depends upon the magnitude of the 
exposure and volatility of the currency involved.
a) Interest rate profile
The currency profile of the Group’s financial assets is as follows:
Group
1 October 2 October
2005 2004
£’000 £’000
Sterling 27,940 29,719
Euro 164 (33)
Dollar (275) (62)
27,829 29,624
Financial assets (liabilities) comprise short term cash deposits with major United Kingdom clearing banks (with associated right of off-set) 
and deposits placed on money markets at call. The financial assets (liabilities) earn floating rates of interest based upon bank base rates. NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 54
17 Derivatives and other financial instruments (continued)
The interest rate profile of the Group’s financial liabilities is as follows:
Floating rate
1 October 2005 2 October 2004
£’000 % £’000 %
Sterling – Borrowings
Loan 1 – 1.00 517 1.00
Loan 2 6,000 0.75 6,000 0.75
Total 6,000 6,517
The interest rate on floating rate financial liabilities indicates the excess over bank base rate.
Loan 2 has an offset facility whereby if the cash deposit is equivalent to the loan value the Company only pays 0.75% on loan value.
b) Currency exposures
The amounts shown in the table below show the effect of forward contracts entered into to manage foreign currency exposure as at
2 October 2004 and 1 October 2005.
1 October 2005 2 October 2004
Initial contract Contract Initial contract Contract
value delivery Currency value delivery Currency
£’000 £’000
Contract 1 – 500 1 Nov 2004 Euro
Contract 2 – 500 1 Dec 2004 Euro
Contract 3 650 3 Oct 2005 Euro –
Contract 4 250 3 Oct 2005 USD –
Contract 5 650 1 Nov 2005 Euro –
Contract 6 650 1 Nov 2005 Euro –
Contract 7 650 1 Dec 2005 Euro –
Contract 8 650 1 Dec 2005 Euro –
Contract 9 650 3 Jan 2006 Euro –
Contract 10 650 1 Feb 2006 Euro –
Contract 11 650 1 Mar 2006 Euro –
Contract 12 650 4 Apr 2006 Euro –
Contract 13 650 2 May 2006 Euro –
6,750 1,000 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 55
17 Derivatives and other financial instruments (continued)
c) Maturity of financial liabilities
The maturity profile of the Group’s financial liabilities was as follows:
1 October 2 October
2005 2004
£’000 £’000
In one year or less – 517
In more than two years but not more than five years 6,000 6,000
Total 6,000 6,517
d) Borrowing facilities
The Group had undrawn committed borrowing facilities, in respect of which all conditions precedent had been met, as follows:
1 October 2 October
2005 2004
£’000 £’000
Expiring in one year or less 2,000 2,000
Expiring in more than two years 2,500 1,983
End of period 4,500 3,983
e) Fair values
There is no material difference between the fair value and book value of the Group’s financial assets and liabilities at the end 
of either period.
18 Provisions for liabilities and charges
Deferred
taxation
£’000
At 3 October 2004 1,864
Charged to profit and loss account 481
At 1 October 2005 2,345
Deferred tax is provided as follows:
1 October 2 October
2005 2004
£’000 £’000
Accelerated capital allowances 2,345 1,864 NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 56
19 Called-up share capital
1 October 2005
Number of
shares £’000
Ordinary shares of 2.5p each
Authorised
Beginning and end of period 320,000,000 8,000
Allotted, called-up and fully-paid
At beginning of period 226,952,805 5,673
Issued in period 1,413,585 35
Treasury Shares cancellation (2,129,915) (53)
At end of period 226,236,475 5,655
During the period the Company allotted 1,413,585 (2004 – 6,055,380) ordinary shares with a nominal value of £35,000 (2004 – £151,000) 
under share option schemes for an aggregate cash consideration of £721,000 (2004 – £3,325,000).
20 Reserves Capital
Share Merger Treasury redemption Profit and
premium reserve shares reserve loss account
£’000 £’000 £’000 £’000 £’000
Group
At 3 October 2004 4,889 (399) (733) 137 23,442
Premium on issue of new shares 686 ––––
Treasury Shares purchased – – (3,774) – –
Treasury Shares cancellation – – 4,507 53 (4,507)
Retained profit for the period –––– 8,697
At 1 October 2005 5,575 (399) – 190 27,632
Capital
Share Special Treasury redemption Other Profit and
premium reserve shares reserve reserves loss account
£’000 £’000 £’000 £’000 £’000 £’000
Company
At 3 October 2004 4,889 14,917 (733) 137 6,200 11,147
Premium on issue of new shares 686 –––––
Treasury Shares purchased – – (3,774) – – –
Treasury Shares cancellation – – 4,507 53 – (4,507)
Retained profit for the period ––––– 10,746
At 1 October 2005 5,575 14,917 – 190 6,200 17,386
The Directors consider the balances on the Company profit and loss account and special reserves to be distributable. The other reserve 
comprises an unrealised gain arising on the disposal of certain trademarks to a subsidiary company. TOPPS TILES PLC 
Annual Report and Financial Statements 2005 57
21 Reconciliation of movements in Group equity shareholders’ funds
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Profit for the period 30,189 25,648
Dividends paid and proposed (21,492) (18,155)
Consideration for purchase of Treasury Shares (3,774) (8,640)
Exchange differences – 9
Issue of shares (net of expenses) 721 3,325
Net additions to shareholders’ funds 5,644 2,187
Opening equity shareholders’ funds 33,009 30,822
Closing equity shareholders’ funds 38,653 33,009
21a) Reconciliation of operating profit to operating cash flows 
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Operating profit 36,834 32,509
Depreciation 3,363 2,729
Loss on disposal of fixed assets – 269
Goodwill amortisation 34 35
Increase in stocks (965) (4,660)
(Increase)/decrease in debtors (267) 793
(Decrease)/increase in creditors (3,233) 6,095
Net cash inflow from operating activities 35,766 37,770
21b) Returns on investments and servicing of finance
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Interest received 942 930
Interest paid (308) (400)
Net cash inflow from returns on investments and servicing of finance 634 530 NOTES TO THE FINANCIAL STATEMENTS continued For the 52 week period ended 1 October 2005
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 58
21c) Capital expenditure and financial investment
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Purchase of tangible fixed assets (8,564) (11,491)
Sale proceeds of tangible fixed assets 4,292 3,225
Net cash outflow from capital expenditure and financial investment (4,272) (8,266)
21d) Financing
52 weeks 53 weeks
ended ended
1 October 2 October
2005 2004
£’000 £’000
Proceeds from issue of ordinary share capital 721 3,325
New loans – 3,095
Purchase of Treasury Shares (3,774) (8,640)
Repayment of loans (517) –
Net cash outflow from financing (3,570) (2,220)
21e) Analysis and reconciliation of net funds
At At
2 October 1 October
2004 Cash flow 2005
£’000 £’000 £’000
Cash at bank and in hand 29,624 (1,795) 27,829
Debt due within 1 year (517) 517 –
Due debt after 1 year (6,000) – (6,000)
Net funds 23,107 (1,278) 21,829 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 59
21e) Analysis and reconciliation of net funds (continued)
52 weeks 53 weeks
ended ended
1 October 1 October
2005 2004
£’000 £’000
(Decrease)/increase in cash in the period (1,795) 11,044
Cash inflow (outflow) from increase/(decrease) in debt and finance leasing 517 (3,095)
Movements in net funds in the period (1,278) 7,949
Net funds at start of period  23,107 15,158
Net funds at end of period 21,829 23,107
22 Financial commitments
a) Capital commitments
At the end of the period there were no capital commitments contracted (2004 - £nil).
b) Pension arrangements
The Group operates separate defined contribution pension schemes for employees and directors. The assets of the schemes are held 
separately from those of the Group in independently administered funds. The pension cost charge represents contributions payable by the 
Group to the funds and amounted to £216,000 (2004 - £175,000).
c) Lease commitments
The Group has entered into non-cancellable operating leases in respect of motor vehicles, equipment and land and buildings.
The annual rentals under the foregoing leases are as follows:
1 October 2005 2 October 2004
Land and Land and
buildings Other buildings Other
£’000 £’000 £’000 £’000
Operating leases which expire:
- within 1 year 1,030 92 1,255 56
- within 2 - 5 years 2,521 623 2,052 516
- after 5 years 9,688 30 8,777 11
13,239 745 12,084 583
23 Related parties
At 1 October 2005 S.K.M. Williams was the landlord of two properties leased to Multi Tile Limited, a trading subsidiary of Topps Tiles Plc, for 
£66,000 (2004 - £66,000).
No amounts were outstanding at 1 October 2005 (2004 - £nil).
The lease agreements on both properties are operated on commercial arms length terms. FIVE YEAR RECORD 
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 60
Proforma 
52 weeks
52 weeks 52 weeks ended 53 weeks 52 weeks
ended ended27 September ended ended
2 June 1 June 2003 2 October 1 October
2001 2002 Unaudited 2004 2005
£’000 £’000 £’000 £’000 £’000
Turnover, including joint ventures 74,642 91,026 120,032 159,430 175,640
Operating profit 9,637 11,660 18,569 32,548 36,890
Profit before taxation 9,414 11,516 18,888 33,794 39,232
Shareholders’ funds 18,669 23,824 30,822 33,009 38,653
Basic earnings per share
1
2.96p 3.58p 5.82p 11.30p 13.34p
Dividend per share
1
1.00p 1.43p 3.48p 8.00p 9.50p
Dividend cover 2.9 2.5 1.67 1.41 1.41
Average number of employees 941 1,070 1,176 1,327 1,513
Share price (period end)
1
66.0p 54.8p 85.4p 178.9p 172.0p
1
adjusted for share sub-division of 5:1 in May 2004. NOTICE IS HEREBY GIVEN that the Annual General Meeting of Topps Tiles Plc (the “Company”) will be held at Topps Tiles Plc, Thorpe Way, Grove
Park, Enderby, Leicestershire, LE19 1SU on Tuesday 10 January 2006 at 10.30 a.m. for the following purposes:
Ordinary business
1 To receive and adopt the Company’s Annual Report and Financial Statement for the financial period ended 1 October 2005 together with the 
last Directors’ Report, the last Directors’ Remuneration Report and the Auditors’ Report on those accounts and the auditable part of the 
Directors’ Remuneration Report.
2 To declare a final dividend of 6.00 pence per Ordinary Share on the Ordinary Shares for the period.
3 To re-elect Barry Bester as a Director of the Company.
4 To re-elect Andrew Liggett as a Director of the Company.
5 To re-elect the Rt. Hon. Michael Jack as a Director of the Company.
6 To re-elect Victor Watson who reached the age of 77 years on 26 September 2005, as a Director of the Company.
7 To re-appoint Deloitte & Touche LLP as Auditors to hold office from the conclusion of the meeting to the conclusion of the next meeting at
which the Annual Report and Financial Statements are laid before the Company at a remuneration to be determined by the Directors.
8 To approve the Directors’ Remuneration Report for the financial period ended 1 October 2005 as set out in the Annual Report and Financial 
Statements for that period.
Special business
To consider and, if thought fit, to pass the resolutions set out below which, in the case of Resolution 9 will be proposed as an Ordinary Resolution 
and, in the case of Resolutions 10 and 11 will be proposed as Special Resolutions.
9 THAT the Directors of the Company be and they are generally and unconditionally authorised for the purposes of and  pursuant to Section 
80(1) of the Companies Act 1985 (the “ Act”) to exercise all the powers of the Company to allot relevant securities (as defined in Section 80 (2) 
of the Act) up to an aggregate nominal amount of  £1,885,303 (in substitution for/to any existing authorities under the Act) to such persons 
at such times and upon such terms and conditions as they may determine (subject always to the articles of association of the Company) 
provided that this authority shall (unless previously revoked, varied or extended by the Company in general meeting) expire at the conclusion 
of the next Annual General Meeting or 15 months from the date of the passing of this resolution,  if earlier save that the Company may, 
before such expiry, make an offer, agreement or arrangement which would or might require relevant securities to be allotted after the expiry 
of such period and the Directors may then allot relevant securities pursuant to any such offer, agreement or arrangement as if the authority or
power conferred hereby had not expired.
NOTICE OF ANNUAL GENERAL MEETING
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 61 NOTICE OF ANNUAL GENERAL MEETING continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 62
Special business (continued)
10 THAT subject to and conditional on the passing of Resolution 9 set out above, the Directors of the Company be and they are authorised and 
empowered, pursuant to Section 95 of the Act, to allot equity securities (as defined in Section 94 of the Act) for cash pursuant to the general 
authority and power conferred by Resolution 9 above (as varied from time to time by the Company in general meeting) as if Section 89(1) of 
the Act did not apply to any such allotment provided that this authority and power shall unless renewed, varied or revoked, expire at the 
conclusion of the next Annual General Meeting of the  Company or 15 months from the date of the passing of this resolution, if earlier and 
provided further that this authority and power shall be limited to:
(a) the allotment of equity securities pursuant to a rights issue or similar offer to Ordinary Shareholders where the equity  securities 
respectively attributable to the interests of all Ordinary Shareholders are proportionate or as nearly as practical (and taking into account
any prohibitions against or difficulties concerning the making of an offer of allotment to shareholders whose registered address or place 
of residence is overseas and subject to such exclusions as the Directors of the Company may deem necessary or expedient to deal with 
fractional entitlement or record dates) to the respective numbers of Ordinary Shares held by them; and
(b) the allotment (otherwise than pursuant to paragraph (a) above) of equity securities up to an aggregate nominal amount of
the greater of £282,795 or 5% of the issued share capital of the Company.
11 THAT the Company be generally and unconditionally authorised for the purposes of Section 166 of the Act to make market Purchases (within 
the meaning of Section 163(3) of the Act) of Ordinary Shares of 2.5p each in the capital of the Company (“Ordinary Shares”) provided that:
(a) the maximum number of Ordinary Shares hereby authorised to be purchased is 33,709,234 (representing 14.9% of the  Company’s issued 
Ordinary Share capital);
(b) the minimum price, exclusive of any expenses, which may be paid for an Ordinary Share is 2.5p;
(c) the maximum price, exclusive of any expenses, which may be paid for an Ordinary Share is an amount equal to 105% of the average of the
middle market quotations for an Ordinary Share derived from the London Stock Exchange Daily Official List for the five business days 
immediately preceding the date on which such Ordinary Share is Contracted to be purchased;
(d) unless previously renewed, varied or revoked, the authority conferred shall expire at the close of the next Annual General Meeting of the 
Company or twelve months from the date of this resolution, if earlier; and
(e)  the Company may make a contract for the purchase of Ordinary Shares under this authority before the expiry of this authority which 
would or might require to be executed wholly or partly after the expiry of such authority, and may make purchases of Ordinary Shares in 
pursuance of such a contract as if such authority had not expired. Notes
1 This notice has been sent to all Ordinary Shareholders who are entitled to attend or be represented at the meeting.
2 A member entitled to attend and vote at the Annual General Meeting may appoint a proxy or proxies to attend on a poll vote and, on a poll, vote on his or her 
behalf. A proxy need not be a member of the Company.  To be valid, a Form of Proxy and any power or authority under which it is signed, must be lodged with 
the Company’s Registrars, Capita Registrars (Proxies), PO Box 25, Beckenham, Kent BR3 4BR, no later than 48 hours before the time appointed for the holding of 
the Annual General Meeting.
3 A proxy is not entitled to speak at the meeting except to demand a poll, and may vote only when a poll is taken.
4 A Form of Proxy is enclosed and instructions for use are shown on the form. The fact that shareholders may have completed forms of proxy will not prevent
them from attending and voting in person should they afterwards decide to do so.
5 As permitted by Regulation 41 of the Uncertified Securities Regulations 2001, only those shareholders who are registered on the Company’s share register at
8.00am on 9 January 2006 (or if the meeting is adjourned, shareholders entered on the Company’s register of members not later than 48 hours before the time 
fixed for the adjourned meeting) shall be entitled to attend the Annual General Meeting and to vote in respect of the number of shares registered in their 
names at that time. Changes to entries on the share register after 8.00am on 9 January 2006 (or, if the meeting is adjourned after 48 hours before the time 
fixed for the adjourned meeting) shall be disregarded in determining the rights of any person to attend and/or vote at the Annual General Meeting.
6 CREST members who wish to appoint a proxy or proxies by utilising the CREST electronic proxy appointment service may do so for the Annual General Meeting 
and any adjournment(s) thereof by utilising the procedures described in the CREST Manual. CREST Personal Members or other CREST sponsored members, and 
those CREST members who have appointed a voting service provider(s), should refer to their CREST sponsor or voting service provider(s), who will be able to take
the appropriate action on their behalf.
In order for a proxy appointment made by means of CREST to be valid, the appropriate CREST message (a “CREST”Proxy Instruction”) must be properly 
authenticated in accordance with CRESTCo’s specifications and must contain the information required for such instructions, as described in the CREST Manual. 
The message must be transmitted so as to be received by the issuer’s agent (ID : RA10) by the latest time(s) for receipt of proxy appointments specified in the 
notice of meeting. For this purpose, the time of receipt will be taken to be the time (as determined by the timestamp applied to the message by the CREST 
Applications Host) from which the issuer’s agent is able to retrieve the message by enquiry to CREST in the manner prescribed by CREST. After this time, any 
change of instructions to proxies appointed through CREST should be communicated to the appointee through other means.
CREST members and, where applicable, their CREST sponsors or voting service providers should note that CRESTCo does not make available special procedures in
CREST for any particular messages. Normal system timings and limitations will therefore apply in relation to the input of CREST Proxy Instructions. It is the 
responsibility of the CREST member concerned to take (or, if the CREST member is a CREST personal member or sponsored member or has appointed a voting 
service provider(s), to procure that his CREST sponsor or voting service provider(s) take(s)) such action as shall be necessary to ensure that a message is
transmitted by means of the CREST system by any particular time. In this connection, CREST members and, where applicable, their CREST sponsors or voting 
service providers are referred, in particular, to those sections of the CREST Manual concerning practical limitations of the CREST system and timings.  
The Company may treat as invalid a CREST Proxy Instruction in the circumstances set out in Regulation 35(5)(a) of the Uncertificated Securities Regulations 
2001.          
7 The following documents are available for inspection by members at the registered office of the Company (except Bank Holidays) during the normal business 
hours and at the place of the meeting but not less than 15 minutes prior to and during the meeting:
(a) the register of Directors’ interests required to be kept under Section 325 of the Act; and
(b) copies of the Directors’ service contracts.
A. Liggett Registered Office: Registered No:
Company Secretary Rushworth House 3213782
29 November 2005 Wilmslow Road
Handforth,Wilmslow
Cheshire SK9 3HJ
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 63 EXPLANATORY NOTES TO THE NOTICE OF ANNUAL GENERAL MEETING
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 64
THE ANNUAL GENERAL MEETING of the Company will be held at the Company’s premises at Thorpe Way, Grove Park, Enderby, Leicestershire LE19
1SU on 10 January 2006 at 10.30a.m.
Three of the resolutions are to be taken at this year’s Annual General Meeting as special business. By way of explanation of these and certain
other resolutions:
Ordinary Business
Resolution 2
Final dividend
A final dividend of 6.00 pence per Ordinary Share is recommended by the Directors for payment to shareholders on the register of members of
the Company at the close of business on 13 January 2006. Subject to approval by the Ordinary Shareholders at the Annual General Meeting, the
dividend will be paid on 31 January 2006. An interim dividend of 3.50 pence per Ordinary Share was paid on 30 June 2005. This gives a total 
dividend level of 9.50 pence per Ordinary Share for the 52 week period to 1 October 2005.
Resolutions 3, 4, 5 and 6 
Re-election of directors
B. Bester, A. Liggett, M. Jack and V.H. Watson are the Directors retiring by rotation this year and they offer themselves for re-election. All members
of the Board of Directors submit themselves for re-election at least every three years with the exception of VH Watson who at the age of 77
retires and offers himself for re-election annually. Brief biographical details about the Directors standing for re-election appear on pages 20 and
21 of the Annual Report and Financial Statements. Special notice of the Intention to propose the resolution to re-elect Victor Watson has been
duly given as required by sections 379 and 293(5) of the Companies Act 1985.
Special Business
Resolutions 9 and 10
Appointment of authority to issue shares and the disapplication of statutory rights of pre-emption
Resolution 9: The right of the Directors to allot further shares in the capital of the Company requires in most cases the prior authorisation of the
shareholders in general meeting under Section 80 of the Companies Act 1985 (“the Act”), Resolution 9 will be put to members as special
business to authorise the Directors to allot Ordinary Shares with a nominal value of £1,885,303 out of the Company’s unissued share capital 
representing approximately 33.3% of the Company’s current issued share capital (excluding shares held in treasury). The Company currently holds
Nil Ordinary Shares in treasury.
The Directors have no current intention of exercising the authority to allot further shares. The authority shall expire immediately following the
Annual General Meeting next following the resolution or, if earlier, 15 months following the resolution being passed. Special Business (continued)
Resolution 10: This proposed resolution seeks to obtain power under Section 95 of the Act to enable the Directors to allot, for cash, shares with
an aggregate nominal value of £282,795 equal to approximately 5% of the Company’s current issued share capital without being required first to
offer such securities to existing shareholders. The Company will thereby be given greater flexibility when considering future opportunities but
the interests of existing shareholders will be protected as, except in the case of a rights issue or the allotment of shares under the Company’s
share option schemes, the Directors have no present intention to allot any part of the unissued share capital of the Company or, without the
prior approval of the Company in general meeting, to make any issue which would effectively alter the control of the Company or the nature of
its business. This authority will expire immediately following the Annual General Meeting next following the resolution or, if earlier, 15 months
following the resolution being passed.
Resolution 11
Authority to purchase Ordinary Shares
At the Annual General Meeting, Ordinary Shareholders are being invited under Resolution 11 to grant authority to the Company to make market
purchases of its Ordinary Shares. It is proposed such authority shall expire on the conclusion of the Annual General Meeting to be held in 2007 or
twelve months from the date of this resolution, if earlier.
This authority will be limited to the purchase of not more than 14.9% of the Ordinary Shares currently in issue. This represents the maximum
amount of Ordinary Share capital in issue which is permitted before tender or partial offer to all shareholders is require to be made to perform
any share buy-back. The maximum price payable under this authority will be 105% of the average of the middle market quotations of an Ordinary
Share for the five business days before the relevant purchase and the minimum price will be 2.5p per Ordinary Share.
In considering whether or not to purchase Ordinary Shares under the market purchase authority, the Directors will take into account cash
resources, the effect on gearing and other investment opportunities before exercising the authority. In addition, the Company will only exercise
the authority to make such a purchase in the market when the Directors consider it is in the best interests of the shareholders generally to do so
and it should result in an increase in Earnings per Ordinary Share. The Directors’ current intention is that the authority sought by Resolution 11
shall be utilised in respect of employee share options as they are exercised. 
As at 29 November 2005, there were options to subscribe for 1,858,455 equity shares outstanding under various schemes representing 
approximately 0.82% of the current issued share capital of the Company. If the authority sought by Resolution 11 was exercised in full, the 
number of outstanding options would represent approximately 0.97% of the issued share capital following the repurchase of shares.
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 65 FINANCIAL CALENDAR
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 66
Key dates
Annual General Meeting and first quarter trading update 10 January 2006
Final dividend payable 31 January 2006
2005/06 interim results announcement May 2006
2005/06 interim dividend payable June 2006
Third quarter trading update July 2006
2005/06 full year results announcement November 2006 THE TEAM
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 67
A
Aaron Brand
Aaron Cook
Aaron Frogley
Aaron Hodgkinson
Abdulkadir Kulmie
Adam Boshir
Adam Charles
Adam Coates
Adam Gale
Adam Harris
Adam Howie
Adam Hughes
Adam Laidlaw
Adam Lucas
Adam Mundy
Adam Stopford
Adam Walker
Adrian Earley
Adrian McCorkell
Adrian McCourt
Adrian Partridge
Adrian Pickup
Adrian Rimmington
Ahmar Nadeem
Aidan Ward
Aileen Crossley
Akommil Ali
Akushu Mulenga
Alan Cordery
Alan Faulkner
Alan Grady
Alan Harding
Alan Hartley
Alan Hemsley
Alan Jones
Alan Logan
Alan Mcdonald
Alan McIntosh
Alan Monk
Alan Parker
Alan Rogers
Alan Rolf
Alan Saunders
Alan Sinclair
Alan Smalley
Alan Sproston
Alasdair Higgins
Alec Dakin
Alex Bott
Alex Long
Alex Padgham
Alex Paterson
Alexander Mcaleese
Alexander Onions
Alexandria Murphy
Ali Sadique
Ali Syed
Alistair Fleming
Alistair Payne
Allan Duffy
Allan Gill
Allan Harper
Alvin Chinyanga
Alvin Lapao
Amadou Janneh
Amanda Green
Amanda Hullett
Amar Mohammed
Amardeep Flora
Amin Ladhu
Andrea Hallifield
Andrew Armstrong
Andrew Bailey
Andrew Baillie
Andrew Carlisle
Andrew Clay
Andrew Collins
Andrew Curr
Andrew Curtis
Andrew French
Andrew Green
Andrew Hanson
Andrew Hastings
Andrew Hill
Andrew Jones
Andrew Liggett
Andrew Lindley
Andrew Macdonald
Andrew Merz
Andrew Middleton
Andrew Moore
Andrew Murphy
Andrew Parnell
Andrew Smith
Andrew Snary
Andrew Ward
Andrew Warwick
Andrew Waterfield
Andrew Wathan
Andrew Wheat
Andrew Whiteley
Andrew Williams
Andrew Wood
Andrew Woolley
Andrew Young
Andy Bird
Andy Dawson
Andy Playfoot
Andy Shaw
Andy Thomas
Angela Harrison
Angela Tremelling
Anil Sehdev
Anna Chang Pin Tive
Anna Timney
Anne Lloyd
Anne Mccabe
Anne-Marie Carpenter
Annette Harris
Annmarie Malone
Anthony Bradford
Anthony Christopher
Anthony Cope
Anthony Cox
Anthony Dent
Anthony Dightam
Anthony Dwyer
Anthony Fincher
Anthony Fleming
Anthony Fusco
Anthony Gilbert
Anthony Linsell
Anthony Molyneux
Anthony Oleru
Anthony Telfer
Anthony Wychwood
Antony Beazer
Antony Parker
Antony Plant
Arnold Harrison
Ashaheed Khan
Ashley Jordan
Astone Davids
Audley Hall
B
Balvinder Singh
Barbara Edge
Barbara Horn
Barbara Scales
Barclay Pope
Barnaby Chambers
Barrie Palmer
Barry Bester
Barry Gales
Barry Hodges
Barry Shane
Barry Squires
Barry Taylor
Barry Webber
Bas Snellenburg
Belinda Davis
Ben Armitage
Ben Brink
Ben Colliss
Ben Davis
Ben Garrett
Ben Holder
Ben Lee
Ben Smee
Ben Wood
Ben Wood
Ben Woollins
Benjamin Finn
Benjamin Marland
Benjamin Naughton
Benjamin Rich
Benjamin Whittingham
Benoni Akuetteh
Bernadette Crawford-King
Bernard Cope
Bert Van Houten
Bertil Boyles
Beverley Bond
Beverly Butler
Blake Heys
Blodwyn Hopkins
Bob Heuerman
Bob Snellenburg
Bobby Park
Brad Crosthwaite
Bradley Cooper
Bradley Cromwell
Brandon Abels
Brant Wells
Brendan Munsamy
Brendon Roberts
Brett Goulden
Brian Adams
Brian Allchin
Brian Dicks
Brian Fisher
Brian Kirwin
Brian Nelson
Brian Richards
Brian Simpson
Bridget Anderson
Bruce Fielding
Bruno Alves
Bryan Hartley
Burzes Batliwalla
C
Cade Somerville
Calbert Hall
Campbell Marr
Carl Bradbury
Carl Brown
Carl Cumberbatch
Carl Dyke
Carl Fraser
Carl Johnson
Carl Sheppard
Carl Taylor
Carl Whatley
Carol Lakin
Carol Livingstone
Caroline Bennett
Caroline Crofts
Caroline Head
Caroline May
Cassandra Huitson
Catherine Harvey
Catherine Platt
Catherine Waldron
Chad Thompson
Chan Gokani
Chantelle Fallows
Charles Dougherty
Charles Quaintence
Charles Tetley
Charlotte Highley
Chetan Patel
Chioma Onyeakazi
Chirag Patel
Chris Bain
Chris Cameron-Waller
Chris Cartey
Chris Davies
Chris Dixon
Chris Edwards
Chris Evans
Chris Forbes
Chris Gough
Chris Heyes
Chris Ireland
Chris Jelley
Chris Kantelberg
Chris Newell
Chris Riddick
Chris Semple
Chris Shute
Chris Willshaw
Christian Scannell
Christina Langridge
Christina Xavier
Christine Earl
Christine Hendry
Christine Jones
Christine Rea
Christine Wadsworth
Christine Whiteman
Christopher Bowles
Christopher Brown
Christopher Chapman
Christopher Cooper
Christopher Cowap
Christopher Haslam
Christopher Hunter
Christopher Newman
Christopher Nicholls
Christopher Ongaro
Christopher Smith
Christopher Turley
Christopher Tyler
Christopher Wright
Christy Kolesniak
Claire Loney
Clare Barden
Clare Hogg
Clare Webster
Claude Naidoo
Cole Blackman
Colin Clark
Colin Hampson
Colin Hoban
Colin Markham
Colin Rymer
Colin Taylor
Colin Vowles
Colin Winterburn
Conrad Harrup
Cornelius Fru Ndi
Corrine Marshall
Craig Conway
1,672 people - one team THE TEAM continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 68
Craig Cooper
Craig Gardener
Craig Hill
Craig Ollard
Craig Palethorpe
Craig Pike
Craig Sims
Craig Stewart
Craig Tetlow
Craig White
Craig Woodward
Crescent Baron
Cyril Mitson
D
Daan Rubens
Dale Hoy
Dale Pugh
Dale Robinson
Damian Porter
Damien Cramp
Dan Hall
Dan Lyle
Dan Radford
Daniel Banyard
Daniel Britt
Daniel Brooks
Daniel Cross
Daniel Davey
Daniel Egan
Daniel Fallows
Daniel Fennings
Daniel Findlay
Daniel France
Daniel Gibbs
Daniel Greenley
Daniel Hall
Daniel Johnson
Daniel Jones
Daniel Jones
Daniel Little
Daniel Mann
Daniel Musguin
Daniel Nield
Daniel Roberts
Daniel Rosenthall
Daniel Rowson
Daniel Rudd
Daniel Scott Francis
Daniel Skinner
Daniel Stiven
Daniel Taylor
Danielle Smythe
Danielle Spencer
Danielle Ten Hoven
Danny Kok
Danny Manning
Danny Slater
Danny Weatherley
Danny Wratten
Darone Dubois-Gayere
Darran Wood
Darren Bebbington
Darren Connor
Darren Doherty
Darren Ferguson
Darren Goode
Darren Harper
Darren Kemp
Darren Mitchell
Darren Morgan
Darren Palmer
Darren Pickering
Darren Square
Darren Taylor
Darren Walker
Dave Berry
Dave Fitzgerald
Dave Lalley
Dave St John
Dave Taylor
David Asquith
David Atherton
David Ayling
David Bailey
David Biggs
David Blades
David Burnikell
David Caldwell
David Carpenter
David Carr
David Critchlow
David Daulton
David Dawson
David Dorney
David Dyason
David Evans
David Finnie
David Fletcher
David Gibson
David Gridley
David Harper
David Hatton
David Hayers
David Henderson
David Hirst
David Houghton
David Hulme
David Hulse
David Kershaw
David Kettlewell
David Kirkpatrick
David Linsdell
David Lott
David Macartney
David Madera
David Mallyon
David Marshall
David Oliver
David Palmer
David Parr
David Reid
David Savage
David Stanley
David Steel
David Stott
David Strain
David Sutcliffe
David Sykes
David Theobald
David Thomasson
David Townsley
David Turner
David Whitelaw
David Willcox
David Williams
David Williams
David Worrall
Dawn Marsh
Dean Belton
Dean Brown
Dean Bull
Dean Hyde
Dean Marshall
Dean Purtill
Dean Robertson
Dean Smith
Dean Titchen
Dean Tricker
Dean Woolley
Debbie Burns
Deborah White
Debra Davies
Delia Muwalo
Denise Hughes
Dennis Cragen
Dennis Jepson
Dennis Rawding
Denzil Johns
Derek Lambourn
Derek Parsons
Derek Robertson
Derek Sim
Derek Smith
Devindren Govender
Diane Shatford - Butcher
Dilawar Ali
Dinkar Ratna
Dishon Meade
Donal Higgins
Donna Cox
Donna Harvey
Donna Paterson
Donna Shirley
Doreen Hyatt
Duane Carey
Dwayne Howard
Dwayne Munroe
Dylan Roberts
E
Eamonn Clancy
Edmund Smith
Edward Collop
Edward Derbyshire
Edward Dove
Edward Gardiner
Edward Moore
Edward Murphy
Elaine Miller
Elizabeth Bott
Elizabeth Kelly
Elizabeth Mccourt
Elizabeth Smith
Emily Lenton
Emin Demirkaya
Emma Brookes
Emma Kenney
Emma Lane
Emma Whatson
Emma-Louise Rowlands
Enid Lamb
Eric Byarugaba
Erik Rubens
Ernest Johnson
Esther Ten Hoven
Euan Grieve
F
Fabian Bhundia
Farzana Latif
Fern Marshall
Finbarr Mcquaid
Fiona Shaw
Flora Tuitt
Folkert Hildama
Fran Graysmark
Frances Aylward
Francis Donnelly
Francis Shyngle
Francis Slater
Francis Tully
Frank Hibbert
Frans Levoleger
Fuzile Mayo
G
Gail Clifton
Gareth Henry
Gareth Sutton
Gareth Veck
Gareth Ward
Gareth Wright
Garry Hardy
Gary Ashdown
Gary Asher
Gary Bloomfield
Gary Burns
Gary Cerrone
Gary Chapman
Gary Curtis
Gary Jennings
Gary Marshall
Gary Neale
Gary Walmsley
Gavin Bennett
Gavin Buisst
Gavin Carter
Gavin Daubney
Gavin Dwyer
Gavin Mitchell
Gavin Ramsey
Gavin Smith
Gayle Anderson
Geerish Ramsaha
Gemma Stephens
Geoff Sutters
George Lathan
George Wilson
Georgina Burgess
Geraldine Plumtree
Gerard Mallon
Gianfranco Zanolini
Gillian Archer
Gillian Grace
Gillian Gray
Gina Regan
Glaucia Lima
Glen Holloway
Glendale Canoville
Glenn Claridge
Glenn Fordyce
Glyn Rogers
Gordon Irvine
Graham Brophy
Graham Buckley
Graham Chapman
Graham Davies
Graham Jones
Graham White
Gregory Barwick
Gregory Carolina
Gursharn Ladhar
Guy Ferguson
Guy Wakefield
H
Hans Ebbelink
Harlukbir Sangha
Harpreet Hansra
Harry Biggs
Harvinder Bunger
Hayley Bover
Helen Bosworth
Helen Gosling
Henri Khoury
Heran Thakore
Herman Kreikamp
Hitesh Hirani
Holly Bradbury
Howard Farmer
Hugh Selley
Husna Iqbal
I
Iain Jackson
Iain Philip
Ian Bloomfield
Ian Dodds
Ian Fairfield
Ian Hobson
Ian Jones
Ian Kirwin
Ian Lightowlers
Ian Mcalinden
Ian Mcilvaney
Ian Mcinteer
Ian Mcnamara
Ian Noon
Ian Paterson
Ian Pennington
Ian Picken
Ian Reavey
Ian Sykes
Ian Tebbutt
Ian. Marshall
Ilker Camur
Imran Ashraf
Imran Yousaf
Ivan Frampton
J
Jack Carslake
Jack Driscoll-Slack
Jacob Bos
Jacqueline Byrne
Jacqueline Twidle
Jacques Human
Jajwinder Harar
James Aspey
James Baker
James Bott
James Cameron
James Cernuschi
James Coles
James Dennett
James Di Leva
James Eastham
James Edge
James Hollingshead
James Hudson
James Kelly
James Koroma
James Lamkin
James Lane
James Martin
James Mcgoldrick
James Mcguigan
James Mcmillan
James Mercer TOPPS TILES PLC 
Annual Report and Financial Statements 2005 69
James Metcalf
James Mitchell
James Morgan
James Myatt
James Pateman
James Paterson
James Patston
James Pilfold
James Repp
James Robertson
James Rollisson
James Sinnott
James Stark
James Taylor
Jamie Bannister
Jamie Evans
Jamie Gaynor
Jamie Gorham
Jamie Haisell
Jamie Morgan
Jamie Muir
Jamie Parkes
Jamie Wenborn
Jamie White
Jan Nijhof
Jan Piwowar
Jan Reddi
Jan Sloterwijk
Jane Graham
Jane Horsford
Janet Burgess
Janet Lockyer
Janet Riley
Janice Millett
Jasbinder Pal
Jason Duller
Jason Ealden
Jason Forsyth
Jason Johnstone
Jason Meadows
Jason Pratt
Javeed Parkar
Jayandrie Chetty
Jayantilal Patel
Jayaprakash Paragjee
Jayawthe Weerasinge
Jayson Vann
Jean Smith
Jeannette Hastie
Jeffrey Armstrong
Jemma Roberts
Jenette Graham
Jenna Faulkner
Jennifer Donlan
Jennifer Duckworth
Jennifer Royce
Jenny Seabrook
Jeremy Apelgren
Jeremy Harris
Jermayne Stanley
Jeroen Ligtelijn
Jeroen Van Loveren
Jessica Birchnall
Jigyasu Yadav
Jill Cox
Jim Carpenter
Jim Tuvey
Jimmy Vander Plank
Joan Hicks
Joanna Kidner
Joanne Mepham
Joanne Stuart
Jodie Baigrie
Joe Blackwood
Joe Cox
Joe Hardwick
Joe Parsons
Joel Grace
Johanna Asher
John Chinn
John Coles
John Davidson
John Davies
John Davies
John Ellis
John Forden
John Foster
John Gardner
John Harris
John Harrison
John Hickey
John Johnston
John Jones
John Keouski
John Lamb
John Mcbride
John Moat
John Page
John Rayner
John Reilly
John Riggs
John Smith
John Smith
John Summers
John Sutton
John Thompson
John Underwood
John Vaughan
John Wade
John Whelan
John Willis
John Wright
Johnathon Cox
Johnny Elenbaas
Jon Oliver
Jon Potts
Jonathan Bean
Jonathan Benn
Jonathan Coombs
Jonathan Goddard
Jonathan Hargreaves
Jonathan Haycock
Jonathan Morgan
Jonathan Whitehead
Jonathon Hall
Jonathon Parker
Jonathon Perkins
Jonathon Sheerin
Jon-Paul Hughes
Jorris Maätita
Jos Kantelberg
Jos Verlaat
Joseph Bentley
Joseph Ellis
Josephine Hilldrup
Josh Wyatt
Joshua Groener
Joyce Davies
Judith Sprules
Juginder Gill
Julian Lloyd
Julie Ayrton
Julie Blake
Julie Cox
Julie Fewings
Julie Horsford
Julie Jordan
Juliet Wilford
Julios Billones
Justin Bradley
Justin Clifford
Justin Edmondson
Justin Roberts
K
Kalpesh Limbochia
Kalpesh Patel
Kamlesh Shah
Kandasamypillai Sureskumar
Kara Robinson
Karen Brook
Karen Lakin
Karen Sutcliffe
Karim Tiller
Karina-Jade Tubb
Karl Austin
Karl Bezemer
Karl Brooks
Karl Grayson
Karl Jackson
Karl Madge
Karl Rowley
Karl Stephens
Karl Walker
Kathryn Robinson
Kawsor Ahmed
Keiron Birch
Keith Ambrose
Keith Carr
Keith Hughes
Keith Pugh
Keith Rudkin
Keith Storrier
Kelly Adams
Kelly Ellison
Kelly Whyte
Kelly Wrenn
Kelvin Hughes
Kelvin Walley
Ken Saunders
Kenneth Frankland
Kenneth Mckay
Kenneth Owen
Kenneth Pettengale
Kenneth Turner
Keri Stevenson
Kerri Wood
Kerry Atkinson
Kerry Hume
Kerry Millington
Kerry Saunders
Kerry-Ann Richardson
Kevan Richardson
Kevin Avins
Kevin Bailey
Kevin Baker
Kevin Bennett
Kevin Bowtle
Kevin Brophy
Kevin Crompton
Kevin Dean
Kevin Gallagher
Kevin Hayes
Kevin Nelson
Kevin Reading
Kevin Robbins
Kevin Thorne
Kevin Tulley
Kevin Young
Kieran Barnes-Warden
Kieron Clarke
Kim Kuijs
Kim Liddle
Kimberley Box
Kimberly Cooper
Kirsty Bover
Kirsty Rhodes
Kofi Danso
Kris Bailey
Kris Woakes
Kriss Hutcheon
Kristen Page
Kristy Sadler
Kuttapanicker Monilal
Kyle Odgers
L
Lakhbir Kaur
Lance Cale
Larissa Gurney
Laura Cowper
Laura Doyle
Laura Edwards
Laura Johnson
Laura Kershaw
Laura Price
Laura Shelley
Laura Sherwood
Laurence Clark
Laurence Davies
Laurence Loxam
Leah Norris
Leanne Foweather
Leanne Kirk
Leanne Langran
Leanne Marshall
Leanne Miles
Leanne Murphy
Lee Baxter
Lee Carroll
Lee Carver
Lee Chapman
Lee Culley
Lee Davis
Lee Dover
Lee Durrant
Lee Fisher
Lee Fitzpatrick
Lee Ford
Lee Galloway
Lee Harris
Lee Hodgson
Lee Jacovou
Lee Johnstone
Lee Kear
Lee Kilcoyne
Lee Morris
Lee Payne
Lee Shillibeer
Lee Street
Lee Tapp
Lee West
Lee Wilkinson
Lee Williams
Lee Winter
Leigh Davies
Leigh Holden
Leigh Nielsen
Leigh Russell
Leigh Taylor
Leon Fraser
Leonard Denton
Leonard Finch
Leonard Wilson
Leonie Van Der Valk
Lesley Hawkes
Leslie Maher
Lewis Jordan
Lewis Smith
Lewis Yates
Liam Hunt
Liam Kemp
Lianne Harrison-Allcock
Lino Santiso
Lindsey Baird
Linsey Wilson
Lisa Barrow
Lisa Bell
Lisa Heys
Lisa Kousourou
Lisa Norwood
Lisa Sheppard
Lisa Walker
Lisa Wright
Loretta Daley
Lorna Ballantyne
Louie Jago
Louise Hannam
Lucy Cartey
Lucy Dacosta
Lucy Henshall
Luke Abbs
Luke Nutting
Luke Turner
Lynette Grimes
Lynn Pearson
M
Magnus White
Majid Shafiq
Malcolm Baker
Mandeep Birak
Mandeep Flora
Mandy Aidney
Manjeet Thathal
Marc Andrisani
Marc Breeze
Marc Burton
Marc Middleton
Marc Why
Marc Winter
Marco Knip
Margaret Lawrie
Mario Van Der Valk
Mark Allen
Mark Arthur
Mark Betts
Mark Bianchi
Mark Bober
Mark Bourner
Mark Bradbury
Mark Briers
Mark Brownset-Joyce
Mark Cowley
Mark Curwen
Mark Discombe
Mark Frisby
Mark Garrity
Mark Gasson THE TEAM continued
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 70
Mark Geary
Mark Hilton
Mark Hirst
Mark Hodgkinson
Mark Hunter
Mark Jepson
Mark Johnson
Mark Jones
Mark Lever
Mark Maciver
Mark Meakin
Mark Moore
Mark Mottershead
Mark Nicholls
Mark Rigley
Mark Samuels
Mark Stephenson
Mark Strong
Mark Tennant
Mark Thompson
Mark Traynor
Mark Waldock
Mark Waller
Mark Williams
Mark Williams
Mark Woodcock
Martin Baker
Martin Brophy
Martin Clare
Martin Curry
Martin De Bruijn
Martin Derricott
Martin Horton
Martin Jackson
Martin Morris
Martin Pryce
Martin Shenton
Martin Siggers
Martin Sinnott
Martin Smyth
Martin Watt
Martin Winterburn
Martin Yardley
Martyn Gilbert
Marvin Daniels
Mary Dodman
Mary Lane
Mary Smith
Mary Stonard
Mathew Mereweather
Matthew Allson
Matthew Beal
Matthew Bond
Matthew Broughton
Matthew Connor
Matthew Dunne
Matthew Foster
Matthew Foulger
Matthew Hawley
Matthew Jenner
Matthew Johnson
Matthew Lorenz
Matthew Mckune
Matthew Meigh
Matthew Moore
Matthew Rayner
Matthew Riddell
Matthew Robinson
Matthew Savill
Matthew Sigley
Matthew Williams
Matthew Winstone
Matthew Wright
Matthew Wyatt
Maxine Barry
Mehmet Asdoyuran
Melanie Hall
Melissa Isaac
Melton Thompson
Merlin Hassoldt
Micha Stiphout
Michael Bamborough
Michael Blinkhorne
Michael Boughton
Michael Collins
Michael Cosgrove
Michael Cotter
Michael Coward
Michael Curtis
Michael Dorman
Michael Earls
Michael Finn
Michael Gay
Michael Hall
Michael Harrison
Michael Holland
Michael Hughes
Michael Ingham
Michael Jack
Michael Jenks
Michael Lemaitre
Michael Litster
Michael Mcvey
Michael Revill
Michael Rothengatter
Michael Rout
Michael Simmons
Michael Skinner
Michael Thacker
Michael Whatley
Michael Willis-Thompson
Micheal Gallagher
Michele Bloomfield
Michele Poxon
Michelle Forsyth
Michelle Hands
Michelle Kempson
Michelle Lawson
Michelle Mannion
Mike Butler
Mike Easton
Mike King
Mike Lee
Mike Lock
Mikeal Worship
Milly Van Der Linden
Mitchell Sole
Mohamed Patel
Mohammed Azhar
Mohammed Jamil
Mohammed Parvaz
Mumtaz Khamisa
Murray Mcpherson
N
Nadine Foster
Nancy Beaver
Narinder Chatha
Natalie Hogg
Nathan Austin
Nathan Broughton
Nathan Collins
Nathan Coulthard
Nathan Gourlay
Nathan Seigneur
Neil Bartholomeusz
Neil Brownley
Neil Carr
Neil Clarke
Neil Curtis
Neil Hendy
Neil Homan
Neil Ketnor
Neil Shephard
Neil Thakore
Neil Turner
Neil Worthington
Ngadhnjim Spahiu
Nicholas Bradshaw
Nicholas Clifford
Nicholas Davies
Nicholas Griffiths
Nicholas Kyriacou
Nicholas Lawrence
Nicholas Leach
Nicholas Ounstead
Nicholas Payne
Nicholas Salisbury-Jones
Nicholas Stones
Nicholas Thornton
Nicholas Withers
Nick Elmore
Nick Hielckert
Nick Wardman
Nicky Dalley
Nicola Acres
Nicola Dearden
Nicola Lewis
Nicola Slater
Nicola West
Nicolas Wassell
Nigel Brooks
Nigel Fleming
Nigel Parkinson
Nigel Slaughter
Nigel Wood
Nikita Groener
Nikola Sutton
Nikolai Nikoloff
Noel Hackett
O
Olaoye Ogunloye
Oliver Knight
Oliver Sawyer
Osemar Masaya
P
Pamela Davie
Parminder Nijur
Pasquale Santaniello
Patience Bender
Patricia Campbell
Patricia Squires
Patrick Mcgee
Patrique Janssen
Paul Bainbridge
Paul Barnard
Paul Baxter
Paul Burkett
Paul Burrow
Paul Carter
Paul Castleton
Paul Chalmers
Paul Chapman
Paul Clark
Paul Cull
Paul Day
Paul Edwards
Paul Galvin
Paul Glynn
Paul Goodson
Paul Huxtable
Paul Irving
Paul Jones
Paul Kelly
Paul Lathrope
Paul Laverty
Paul Liggett
Paul Mackin
Paul Martindale
Paul Mayfield
Paul Mcculloch
Paul Miller
Paul Mills
Paul Noyes
Paul Oldroyd
Paul Peacock
Paul Price
Paul Redfern
Paul Rockett
Paul Ruddle
Paul Ryan
Paul Saunders
Paul Semple
Paul Sluiter
Paul Smith
Paul Smith
Paul Smith
Paul Smith
Paul Smitheringale
Paul Southern
Paul Starkey
Paul Stuart
Paul Sutton
Paul Thorneycroft
Paul Tomlin
Paul Wheeler
Paul Williams
Paul Wixen
Paula Budsworth
Pauline Grenfell
Pauline Harrison
Pawel Warych
Peter Charters
Peter Davey
Peter Davidson
Peter Deegan
Peter Gosling
Peter Gyeantey
Peter Hogg
Peter Johnson
Peter Jones
Peter Kitchen
Peter Lea
Peter Lynn
Peter Mcgowan
Peter Robertson
Peter Robinson
Peter Samways
Peter Smith
Peter Tassenaar
Peter Tilling
Peter White
Phil Kelly
Philip Aird
Philip Dunn
Philip English
Philip Glasgow
Philip Gostick
Philip Hawkeswood
Philip Kelly
Philip Lonsdale
Philip Mccarney
Philip Meakin
Philip Tomlin
Philip Tovey
Phillip Downing
Phillip Godden
Phillip Hillier
Phillip Hunt
Phillip Lewis
Phillip Walters
Phillipa Hewitt
Pius Chibwe
Pravesh Ramsaha
Q
Quasim Bashir
Quintin Palliam
R
Rabindranath Jewbali
Rachel Siu
Rahul Goel
Raj Surani
Rajan Mehta
Rajbinder Dhanoya
Rajiv Vadgama
Ranjit Grewal
Ravi Sudera
Raymond Tricker
Rebecca Crawshaw
Rebecca Derricott
Rebecca Ellis
Rebecca Halliday
Rebecca Heather
Rebecca Oblein
Rebecca Plant
Recep Tarim
Reedwan Desai
Reg Anderton
Rhonda Partridge
Rhys Kelland
Ria Croft
Ricardo Malcolm
Richard Bickers
Richard Brookfield
Richard Carter
Richard Clark
Richard Davies
Richard Deavall
Richard Dempsey
Richard Fairley
Richard Gallagher
Richard Grove
Richard Hamilton
Richard Harris
Richard Homan
Richard Hopkin
Richard Hutcheson
Richard Jackson
Richard Lewington
Richard Mais
Richard Oldale
Richard Paine
Richard Scott
Richard Smallman
Richard Spencer Smith
Richard Tucker TOPPS TILES PLC 
Annual Report and Financial Statements 2005 71
Richard Whitmore
Richard Young
Ricki Beagrie
Ricky Holloway
Ricky Loomes
Ricky Ludlam
Rob Mcguinness
Rob Owen
Robert Adams
Robert Adkins
Robert Avery
Robert Bellamy
Robert Brewin
Robert Chawner
Robert Clarke
Robert Cole
Robert Curd
Robert Docker
Robert Donnelly
Robert Exley
Robert Hall
Robert Hodgson
Robert Howker
Robert Maples
Robert Marcellin
Robert Moss
Robert Myers
Robert Ramsay
Robert Rayner
Robert Reynolds
Robert Taylor
Robert Trigg
Robert Watts
Robert Wright
Roberto Di-Leva
Roberto Xavier
Robin Pinhorn
Rodger Mitchell
Rodney Meyer
Rodney Sanders
Roger Bailey
Roger Buckley
Roger Channell
Roger Gridley
Romaldo Rodrigues
Ronald Emmanuel
Ronald Perrott
Ronald Van Veenen
Ronnie Webster
Rosina Taylor
Roslyn Naylor
Ross Ashbrook
Ross Malley
Ross Mcnair
Roy Haddon
Roy Peasland
Rudy Messiahs
Russell Adgey
Russell Thornton
Ryan Busby
Ryan Curd
Ryan Milligan
Ryan Morris
S
Sadaqat Basharat
Sadia Ahmed
Sagren Naidoo
Sally Green
Salvatore Andreozzi
Sam Gobey
Sam Nortey
Sam Shepherd
Samantha Barrett
Samantha Perry
Samantha Sayer
Samantha Williams
Samuel Geddam
Sarah Crane
Sarah Dallow
Sarah Dobson
Sarah Earthey
Sarah Mccabe
Sarah Pimm
Sarah Whitehead
Satyan Meisuria
Scott Allaway
Scott Ambrose
Scott Coles
Scott Davis
Scott Frankland
Scott Heritage
Scott Mccluskey
Scott Meadows
Scott Smith
Scott Williams
Sean Cahill
Sean Coleman
Sean De'Oliveira
Sean Howard
Sean Kerry
Sean Nunan
Sean Wixen
Shabeena Bibi
Shane Malone
Shane Moorhouse
Shane Watson
Shannon Woods
Shanoor Ali
Sharmake Abdulllahi
Sharon Diffin
Sharon Homer
Sharon Mcclung
Sharon Muir
Sharon Pearce
Sharron Bruce
Shaun Douglas
Shaun Hayes
Shaun Mayes
Shaun Scott
Shawanna Hafiz
Sheila Robertson
Shelley Rutter
Sherry Bell
Sherry Conlay
Silvonne Mclean
Simon Atkinson
Simon Brookfield
Simon Brown
Simon Casey
Simon Chappell
Simon Eldridge
Simon Farr
Simon Frew
Simon Gill
Simon Goodwin
Simon Green
Simon Henderson
Simon Jones
Simon Lasham
Simon Morgan
Simon Pitt
Simon Rayner
Simon Ricketts
Simon Roberts
Simon Taylor
Simon Tuckley
Simon Witham
Siobhan Waters
Sion Jackson
Sophie Macdonald
Stanley Crowther
Stephan Linay
Stephan Whitby
Stephanie Hamer
Stephanie Nevett
Stephen Ainsworth
Stephen Bloomfield
Stephen Brighton
Stephen Clark
Stephen Collins
Stephen Crane
Stephen Davey
Stephen Hosken
Stephen Hunter
Stephen Lewis
Stephen Marshall
Stephen Mcgowan
Stephen Mcleod
Stephen Mcveigh
Stephen Nunn
Stephen Seymour
Stephen Sherwin
Stephen Unsworth
Stephen Williams
Steve Claridge
Steve Gaylor
Steve Ho
Steve Pratt
Steve Whitehead
Steve Wormald
Steven Burke
Steven Clark
Steven Edwards
Steven Godwin
Steven Jenkins
Steven Lockley
Steven Lynn
Steven Macarthur
Steven Maggs
Steven Morries
Steven Nelson
Steven Saunders
Steven Tinkler
Steven Walker
Steven White
Steven Whitehead
Steven Whittle
Stevie Parish
Stuart Baigent
Stuart Cooper
Stuart Davey
Stuart Hill
Stuart Hillman
Stuart Marcella
Stuart Pemberton
Stuart Rees
Stuart Ross
Stuart Whitby
Stuart Williams
Sudarshan Naidoo
Sukhbinder Verdding
Susan Attwell
Susan Groombridge
Susan Henshall
Susan Hulme
Susan Hunt
Susan Wilcockson
Susan Wright
T
Tahir Nazif
Temiloluwa Longe
Terance Langford
Terance Palmer
Terence Dooley
Terence Marshall
Terence White
Terry Olivo
Terry Wade
Terry Webb
Theo Buijs
Theresa Murray
Thierry Dellys
Thomas Agate
Thomas Cloete
Thomas Cunningham
Thomas Fry
Thomas Girvan
Thomas Hodgson
Thomas Horsfield
Thomas Lewis
Thomas Mallion
Thomas Pressley
Thomas Roberts
Thomas Ryan
Thomas Steel
Thomas Wade
Thomas Woollard
Tim Randall
Tim Tatlock
Timothy Boardman
Timothy Harris
Timothy Noble
Timothy O'Sullivan
Timothy Tuff
Tina Munkley
Toby Bateson
Toby Collins
Tom Evans
Toni Thompson
Tony Alliband
Tony Haines
Tony Martin
Tony Milligan
Tony Nunn
Tony Simoes
Tony Watson
Tracey Gallagher
Tracy Hudson
Tracy Powell
Trac Ryan
Trac Stevens
Tracy Wickenden
Trevor Griffin
Trevor Thomas
Trevor Willers
U
Umar Ullah
Upali Herath
V
Veronica Brownlie
Vicky Dickinson
Vicky Roberts
Vicky Wilkinson
Victor Watson
Victoria Bachell
Victoria Edge
Victoria Mills
Vilius Meilus
Vincent Carroll
Vinod Joshi
Vipesh Kerai
Vivienne Johns
W
Wade Cummings
Walkey Hilarie
Warren Bester
Warren Smith
Wayne Bowditch
Wayne Coleman
Wayne Farini
Wayne Hughes
Wayne Quaintance
Wayne Randell
Wayne Tearle
Wayne Van Der Merwe
Wendy Altimas
Wesley Neukermans
Willam Owhor
William Bailey
William Brownsell
William Gunshon
William Hodgkinson
William Lount
William Ryves
Wilmot Williams
Wim Baggerman
Wim Strik
Wim Van Staden
Y
Yolandé Knight
Yun Zang
Yvonne Archer
Yvonne Burgess
Z
Ziaur Rahman STORE LOCATIONS
TOPPS TILES PLC 
Annual Report and Financial Statements 2005 72
TOPPS TILES TILE CLEARING HOUSE
Central Region
Aston
Banbury
Bedford
Binley
Boston
Burton
Bury St Edmunds
Cambridge
Cannock
Clacton-on-Sea  Colchester
Coventry
Derby
Derby 2
Erdington
Grantham  Great Yarmouth
Grove Park
Hereford
Ipswich
Kidderminster
Kings Heath
Kings Lynn
Leicester
Lincoln
Luton
Mansfield
Martlesham
Milton Keynes
Newcastle-U-Lyme
Newark
Northampton
Norwich
Nottingham
Oldbury
Peterborough
Sheldon
Shrewsbury
Solihull
Stafford
Stamford  Stoke on Trent
Stratford-upon-Avon
Tamworth
Telford
Wellingborough
West Bromwich
Wolverhampton
Worcester
Worksop  London and
Thames South
Basildon
Beckton
Bexhill
Braintree
Brentwood
Brighton
Broadstairs
Camberley  Canterbury
Catford
Charlton
Cheam
Chelmsford
Chichester  Chingford
Colindale
Crayford
Croydon
Dagenham
Eastbourne
Edmonton
Eltham
Erith  Farnborough
Farnham
Folkestone  Fulham
Gatwick
Grays  Gunnersbury
Guildford
Harlow
Hedgend
Highgate  Horsham  Ilford
Isle of Wight
Maidstone
Mitcham
New Southgate
Newbury
Newhaven  Old Kent Road
Orpington
Penge
Portsmouth
Raynes Park
Rayleigh
Reading
Richmond
Romford
Sittingbourne
Slough
Southall
Southampton
Southend
Stamford Hill
Sudbury
Swindon
Tonbridge
Tunbridge Wells
Twickenham
Uckfield  Uxbridge
Vauxhall
Waltham Cross
Wandsworth  Watford
Wembley
West Wickham
North West
Aintree
Blackburn
Blackpool
Bolton
Cheadle
Chester
Chester 2
Chorley
Cleveleys
Crewe
Failsworth
Flint
Liverpool
Macclesfield
Morecambe
Nantwich  Northwich 
Oldham
Ormskirk
Preston
Rhyl
Sale
Salford
Snipe (Audenshaw)
St Helens
Stockport
Stockport 2  Warrington
Widnes
Wigan
Wrexham
North
Barnsley  Barrow-in-Furness
Birstall  Carlisle
Chesterfield
Durham
Harrogate
Huddersfield
Dewsbury
Leeds
Hull
Sheffield
Stockton
Sunderland
Tyneside
Wakefield
York
Scotland
Aberdeen
Dundee
Edinburgh
Falkirk
Glasgow
Greenock
Hillington
Inverness
Linwood
Perth
Rutherglen
Sighthill  Wishaw
South West
Barnstaple
Basingstoke
Bournemouth
Bridgend
Bridgewater
Bristol
Cardiff
Cheltenham
Christchurch
Cribbs Causeway
Exeter
Frome  Gloucester
Hengrove
Launceston
Merthyr Tydfil
Newport
Plymouth
Poole
Salisbury
Swansea
Taunton
Torquay
Weston-Super-Mare
Winchester
Yeovil
Central Region
Aylesbury 
Fenton
Great Barr
Leicester
Northampton 
Nottingham
Peterborough
Shrewsbury  Stoke-on-Trent
London and Thames
South
Barking
Beckenham
Charlton
Eastbourne  Harlow
New Southgate
Orpington
Southampton  Swindon
Wembley
North West
Bolton
Cheadle
Crosby
Maghull
Oldham
Preston
Stockport
Wigan
North
Bradford
Darlington
Doncaster
Hull
Sheffield
Scotland
Aberdeen
Edinburgh  South West
Bournemouth
Exeter
Salisbury  TOTAL 244 STORES
 New store 2004/05 TOPPS TILES PLC 
Annual Report and Financial Statements 2005 73
London Stores
Stores at beginning of period 33
New stores opened 5 
Sub-Total 38
Closures (1)
Total 37
Stores at beginning of period 187
New stores opened 20
Sub-Total 207
Closures –
Total 207 Topps Tiles Plc
Rushworth House
Wilmslow Road
Handforth
Wilmslow
Cheshire SK9 3HJ
T 01625 446700
F 01625 446800
www.toppstiles.co.uk