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Registration number: 10740656

DCF Roofing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

DCF Roofing Ltd

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

DCF Roofing Ltd

Registration number: 10740656

Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

7,070

7,915

Current assets

 

Stocks

7

30,000

30,000

Debtors

8

22,420

10,720

Cash at bank and in hand

 

100,812

90,865

 

153,232

131,585

Creditors: Amounts falling due within one year

9

(125,399)

(130,935)

Net current assets

 

27,833

650

Total assets less current liabilities

 

34,903

8,565

Creditors: Amounts falling due after more than one year

9

(311)

-

Provisions for liabilities

(1,768)

(1,504)

Net assets

 

32,824

7,061

Capital and reserves

 

Called up share capital

101

101

Profit and loss account

32,723

6,960

Total equity

 

32,824

7,061



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

DCF Roofing Ltd

Registration number: 10740656

Balance Sheet as at 30 April 2023 (continued)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 October 2023
 


D Forster
Director

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
77 Grove Avenue
Norwich
Norfolk
NR5 0JA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,357

2,639

Amortisation expense

-

2,000

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2022

10,000

10,000

At 30 April 2023

10,000

10,000

Amortisation

At 1 May 2022

10,000

10,000

At 30 April 2023

10,000

10,000

Carrying amount

At 30 April 2023

-

-

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

6

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

18,921

6,484

25,405

Additions

-

1,512

1,512

At 30 April 2023

18,921

7,996

26,917

Depreciation

At 1 May 2022

13,596

3,894

17,490

Charge for the period

1,331

1,026

2,357

At 30 April 2023

14,927

4,920

19,847

Carrying amount

At 30 April 2023

3,994

3,076

7,070

At 30 April 2022

5,325

2,590

7,915

7

Stocks

2023
£

2022
£

Other inventories

30,000

30,000


 

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

8

Debtors

Current

2023
£

2022
£

Trade debtors

8,640

4,444

Prepayments

1,431

2,226

Other debtors

12,349

4,050

 

22,420

10,720

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

414

-

Trade creditors

 

7,309

18,633

Director loan accounts

52,559

63,771

Taxation and social security

 

29,170

12,796

Other creditors

 

35,947

35,735

 

125,399

130,935

Due after one year

 

Loans and borrowings

11

311

-

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

311

-

 

DCF Roofing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

1

1

1

1

 

101

101

101

101

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

311

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

414

-