Registered number
05830603
CARL LYNN ROOFING LTD
Filleted Accounts
31 May 2023
CARL LYNN ROOFING LTD
Registered number: 05830603
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 619 630
Current assets
Debtors 4 10,860 3,860
Creditors: amounts falling due within one year 5 (9,331) (10,455)
Net current assets/(liabilities) 1,529 (6,595)
Total assets less current liabilities 2,148 (5,965)
Creditors: amounts falling due after more than one year 6 (2,000) (3,000)
Net assets/(liabilities) 148 (8,965)
Capital and reserves
Called up share capital 100 100
Profit and loss account 48 (9,065)
Shareholder's funds 148 (8,965)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Carl Lynn
Director
Approved by the board on 2 October 2023
CARL LYNN ROOFING LTD
Notes to the Accounts
for the year ended 31 May 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:
Equipment over 5 years
Motor vehicles over 5 years
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equip Motor vehicles Total
£ £ £
Cost
At 1 June 2022 3,645 23,744 27,389
Additions 143 - 143
At 31 May 2023 3,788 23,744 27,532
Depreciation
At 1 June 2022 3,016 23,743 26,759
Charge for the year 154 - 154
At 31 May 2023 3,170 23,743 26,913
Net book value
At 31 May 2023 618 1 619
At 31 May 2022 629 1 630
4 Debtors 2023 2022
£ £
Director's loan account 5,220 -
Other debtors 5,640 3,860
10,860 3,860
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan and overdraft 1,255 5,372
Director's loan account - 503
Taxation and social security costs 1,106 -
Other creditors 6,970 4,580
9,331 10,455
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 2,000 3,000
7 Other information
CARL LYNN ROOFING LTD is a private company limited by shares and incorporated in England. Its registered office is:
Lydmore House
St Ann's Fort
Kings Lynn
Norfolk
PE30 2EU
CARL LYNN ROOFING LTD 05830603 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts October 2023 Mr Carl Lynn No description of principal activity 05830603 2021-06-01 2022-05-31 05830603 core:WithinOneYear 2022-05-31 05830603 core:AfterOneYear 2022-05-31 05830603 core:ShareCapital 2022-05-31 05830603 core:RetainedEarningsAccumulatedLosses 2022-05-31 05830603 2022-06-01 2023-05-31 05830603 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05830603 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05830603 bus:Director40 2022-06-01 2023-05-31 05830603 1 2022-06-01 2023-05-31 05830603 2 2022-06-01 2023-05-31 05830603 core:PlantMachinery 2022-06-01 2023-05-31 05830603 core:Vehicles 2022-06-01 2023-05-31 05830603 countries:England 2022-06-01 2023-05-31 05830603 bus:FRS102 2022-06-01 2023-05-31 05830603 bus:FullAccounts 2022-06-01 2023-05-31 05830603 2023-05-31 05830603 core:WithinOneYear 2023-05-31 05830603 core:AfterOneYear 2023-05-31 05830603 core:ShareCapital 2023-05-31 05830603 core:RetainedEarningsAccumulatedLosses 2023-05-31 05830603 core:PlantMachinery 2023-05-31 05830603 core:Vehicles 2023-05-31 05830603 2022-05-31 05830603 core:PlantMachinery 2022-05-31 05830603 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure