Try using the imagecopy() function to copy part of one image onto a new one.
This is semi-pseudo code.. i've not tested so it probably wont work, but hopefully you'll get the idea.
<?php
header("Content-type: image/png");
$img = imagecreate(480,48) or die ("Cannot Create image");
$count = 1;
while ($count < 10)
{
$tile = imagecreatefrompng('images/'.$count.'.png');
imagecopy($img,$tile,($count-1)*48,0,0,0,48,48);
$count++;
}
imagepng($img);
imagedestroy($img);
?>