Hi,
I'm not exactly an expert, but I'm about to undertake the same work.
Personally, I'm planning on attacking it like this. I'm going to prepare the walls and tile the area behind the sink and the toilet.
Then I'm going to fit the bath, toilet and sink.
Next, I've found some sealing strip things which go around the bath. The tiles around the bath are then put on the wall on top of the sealing strip so that any water hitting the tiles runs straight down onto the seal and into the bath.
When the wall tiling is done, I'm going to get the flooring fitted. As I'm going for Lino, putting it on after the toilet and sink will make it easier to replace in the future.
Then - I'm going to cover pretty much everything with a squirt of silicone sealer for good luck! (well - the edges of the bath and sink, at least!).
Don't know if that helps - but it's what I'm going to be doing in a couple of weeks, so if anyone has any better ideas, I'd like to hear them, too!
- Chris