Registered number
05451550
OWEN BROTHERS ROOFING LIMITED
Filleted Accounts
31 March 2023
OWEN BROTHERS ROOFING LIMITED
Registered number: 05451550
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 57,426 61,618
Current assets
Stocks 2,052 2,107
Debtors 4 81,849 142,270
Cash at bank and in hand 197,257 109,183
281,158 253,560
Creditors: amounts falling due within one year 5 (55,757) (58,221)
Net current assets 225,401 195,339
Total assets less current liabilities 282,827 256,957
Creditors: amounts falling due after more than one year 6 (39,628) (47,308)
Net assets 243,199 209,649
Capital and reserves
Called up share capital 2 2
Profit and loss account 243,197 209,647
Shareholders' funds 243,199 209,649
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D P Owen
Director
Approved by the board on 21 August 2023
OWEN BROTHERS ROOFING LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Equipment 15% per annum of net book value
Motor vehicles 25% per annum of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 51,000 6,607 35,640 93,247
At 31 March 2023 51,000 6,607 35,640 93,247
Depreciation
At 1 April 2022 3,060 4,137 24,432 31,629
Charge for the year 1,020 370 2,802 4,192
At 31 March 2023 4,080 4,507 27,234 35,821
Net book value
At 31 March 2023 46,920 2,100 8,406 57,426
At 31 March 2022 47,940 2,470 11,208 61,618
4 Debtors 2023 2022
£ £
Trade debtors 32,564 76,777
Other debtors 49,285 65,493
81,849 142,270
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 24,376 29,958
Accruals and deferred income 3,763 4,101
Taxation and social security costs 27,618 24,162
55,757 58,221
6 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loans 39,628 47,308
7 Events after the reporting date
There were no material post balance sheet events up to the 21st August 2023, being the date of approval of the financial statements by the board of directors.
8 Other information
OWEN BROTHERS ROOFING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
12 Cranebrook Close
Crewe
Cheshire
CW1 3YW
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