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Registered Number: 10690599
England and Wales

 

 

 

MONTGOMERY ROOFING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Director Scott Montgomery
Registered Number 10690599
Registered Office 62 Ullswater Road
Lancaster
Lancashire
LA14 3PS
Accountants Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
Bankers The Cumberland
Cumberland House
Cooper Way
Carlisle
Cumbria
CA3 0JF

1
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Kazbor Services Limited
102 Fairhope Avenue
Bare
Morecambe
LA4 6LA
07 July 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 23,471    29,210 
23,471    29,210 
Current assets      
Work in progress 4 3,618    6,867 
Debtors 5 22,264   
Cash at bank and in hand 60,738    51,193 
86,620    58,060 
Creditors: amount falling due within one year 6 (56,927)   (37,185)
Net current assets 29,693    20,875 
 
Total assets less current liabilities 53,164    50,085 
Creditors: amount falling due after more than one year 7 (7,317)   (10,449)
Provisions for liabilities 8 (3,882)   (4,889)
Net assets 41,965    34,747 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 41,964    34,746 
Shareholder's funds 41,965    34,747 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 July 2023 and were signed by:


-------------------------------
Scott Montgomery
Director
3
General Information
Montgomery Roofing Ltd is a private company, limited by shares, registered in England and Wales, registration number 10690599, registration address 62 Ullswater Road, Lancaster, Lancashire, LA14 3PS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The director is of the opinion that the impact of COVID-19 was less than expected and following the relaxation of COVID restrictions the company has been able to continue normal  trading operations throughout this financial period. The director also considers that the company is financially secure and well placed to manage its business risks for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises of the invoiced value of goods and services supplied by the company during the course of its ordinary business, which is net of Value Added Tax and trade discounts. Turnover is recognised in the financial statements on the basis of invoiced sales when the risks and rewards of ownership have passed to the buyer. Sales invoices are issued on completion of work, or, at different stages  of completion on larger contracts. Provisions are made at the reporting date for incomplete services which are based on a percentage of the work done to that point in time.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
The current tax payable is based on the taxable profit or loss for the period. The taxable profit or loss may differ from that reported in the financial statements because adjustments are made for items that are treated differently for taxation compared to their treatment for accounting purposes. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and their treatment for accounting purposes. The deferred tax balance has not been discounted.
Dividends
Dividends that are deemed to have been approved and paid during the period are included in these financial statements. Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Property 10 Years Straight Line
Plant and Machinery 4 Years Straight Line
Motor Vehicles 4 Years Straight Line
Computer Equipment 3 Years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Work in progress
Work in progress is valued using the selling price and calculating the percentage of work completed at the reporting date.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments included within these financial statements are valued at the transaction price applicable at the time of the transaction.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

The average number of persons given below includes directors:

Average number of employees during the year was 4 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Leasehold Property   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2022 4,345    5,587    39,386    791    50,109 
Additions   1,174        1,174 
Disposals        
At 31 March 2023 4,345    6,761    39,386    791    51,283 
Depreciation
At 01 April 2022 869    2,013    17,226    791    20,899 
Charge for year 434    1,352    5,127      6,913 
On disposals        
At 31 March 2023 1,303    3,365    22,353    791    27,812 
Net book values
Closing balance as at 31 March 2023 3,042    3,396    17,033      23,471 
Opening balance as at 01 April 2022 3,476    3,574    22,160      29,210 


4.

Work in progress

2023
£
  2022
£
Work in Progress 3,618    6,867 
3,618    6,867 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 22,264   
22,264   

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 11,284    10,957 
Taxation and Social Security 26,034    11,292 
Obligations under HP/Financial Leases 3,132    3,132 
Other Creditors 16,477    11,804 
56,927    37,185 
Hire purchase accounts are secured on the assets to which they relate. 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations under HP/Financial Leases 7,317    10,449 
7,317    10,449 
Hire purchase accounts are secured on the assets to which they relate. 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax b/f 4,889    994 
Deferred Tax Charged to Profit & Loss (1,007)   3,895 
3,882    4,889 

4